"Hagling" with dealers

This past weekend I went to a LCS that I've been to a couples times before, both times I purchased several coins...nothing major, both times spent around $50. When I was there last weekend I looked at their Franklin halves and saw 3 that I really wanted to buy but didn't want to spend all the money on at that one time, so I only bought one of them. I was hoping to go back some time soon(within the next week) to buy the other two and hopefully work out a deal. One coin is priced at 75 and the other at 40 for a total of 115.

I have never tried to work a deal with a dealer to get a lower price, I've always gladly paid their asking price, so I'm not really sure how to go about trying to talk them down. I would really like to get both of the coins at once and would like to take a stab at hagling for a better price. So any tips you all have I would really like to know so I don't go in and make a fool of myself.

One way I was thinking of trying to get them to lower would be working in a sort of trade. I have doubles of one date in my Franklin collection right now, both coins are raw and IMO at least MS64 so I was thinking of trying to work one of the two into the mix and see what happens.

Any suggestions will be greatly appreciated.

 

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What dates are you looking at?

 

Maybe you can take him down to $100 for the two. He might be willing to take a small profit loss to make 2 sales.

 

Ask for his best price on one of them........him and haw a bit......then ask for the best price if you buy the other one too.

 

48 P and 56 P. Both high 65's. 48 is FBL

Should I ask for the best price on the higher priced one or the lower priced one before I suggest buying both?

 

Excessive haggling on price and making unfair offers are two quick ways to get on a dealer's bad side. Not saying that you would do that, but rather you should be aware of it.

My advices is as follows: Be straightforward and direct -- explain what you want to do (the entire deal including the trade), ask his best price, and then pass or play.

Hope this helps...Mike

 

I'd just cut to the chase and tell them what you are willing to pay and if it isn't enough take your business else where.

 

Thanks Mike, that seems like good advice. I wasn't planning on making rediculous offers, I know they have to make a living and I respect that, plus it's an older couple that owns the shop and they are very nice so I wouldn't feel right attempting to take advantage of them.
I'm more looking for practice on working deals rather than trying to get a super deal on the coins. I just figured if I can save a few bucks on two coins I really want while I practice my hagling I might as well.

 

Here is my take on things when anyone says their coins are MS65's or higher....take this from someone who has sent in their share of "high" grade Franklins to NGC. All the coins that I thought would grade 65 or higher, mostly all came back 64 with the exception three. Less so much with the FBL designation, but I had a few come back that I thought were FBL and were not and I had some that I thought were not FBL, but came back with the FBL designation.

Im not saying that I am the best grader around, but I am definitely not the worse either and the Franklin half is one of my focus collection areas. So if you are thinking MS65 or higher, they are probably around MS64 and may or may not be FBL. THe 48's are going to be one of the higher priced Franklins. Make sure you look on the reverse for the DDR on the 48 and 48D. Many dealers don't look for these varieties and you could end up picking up a nice DDR Franklin for regular UNC prices. This is how I bought mine.

Also, unless you plan on sending these in to get slabbed, most people can't tell the difference between a nice MS64 set and MS66. Something to think about.

 

I know neither of the coins have a shot at a 66, but they are both really clean and in my opinion they are 65's. If the TPG's don't think so it wouldn't bother me, but I'd never know bc I don't plan on having them graded.

 

I simply ask "Is that the best that you can do on these?" It always seems to work. But, I never ask them to go further down. If I don't like the price, I simply pass.

 

Haggling with a dealer is exactly the same as making a best offer on E-bay. You take a shot at going lower, make your best offer without being insulting, and expect a counter offer. Don't lowball, and don't make an offer if you have no intention to buy the coin. Chances are, if your offer is reasonable, a mutually acceptable deal can be struck. Be fair and reasonable.

 

I understand that you are not going to have them graded. But if you think they are solid 65's and the dealer thinks they are solid 65's then you will be paying 65 prices. Too many times I have bought coins based on the grade the dealer thought they were and ended up way overpaying. Even when I knew the grade the dealer suggested wasn't what the coins were, in the dealer's mind, they were higher grade coins so they are worth more.

You just have to feel confident that you can grade these acuately. If you feel that they are solid 65 coins, then don't get offended if the dealer is asking 65 prices and not wanting to budge. You will only be happy with a purchase if you feel that you bought the coins for at least what they are worth and nothing more.

 

I agree with Green on this one, first I would ask what the best price he could do on the higher one, than I would say, well what is your best price on this one, indicating the second coin, I would pause as if I were considering, than I would say what is the absolute best you could do if I want both of them together. I agree you shouldn't try haggling or pushing or quoting that you think it is worth less than he does, but doing as Green and myself have advised is an expected part of the business, plus it is more than half the fun.
Your not walking into a Retail Store or a supermarket where prices are etched in stone, and most dealers anticipate that they will look better giving a person a small deal to walk away with and mark their coins up a little to give them negotiating room.

 

Just give him a fair counter offer. It also helps to have cash. Just say, I'll give you XYZ and I brought one coin last week and you'll move these two as well and put the cash in your pocket. Then he'll either bite or give a counter offer (usually although sometimes they won't)

They key thing is, just for your own self, be respectful. Its OK to not agree on the price. It's not OK to be rude.

Ruben

 

You're over-thinking...

When this happens to me I simply offer $100 even. If he comes back at $110, offer to meet him halfway at $105 and remind him you're paying cash.

NEVER ask for a "best price", his best price would be $1 million for both coins. I can almost guarantee he'll say "that is my best price" which shuts down any negotiation. If you're really serious, bring in a Grey Sheet and use that to determine/compare price. I don't meet many dealers that aren't willing to follow what CDN says. I've also used the line "it looks closer to MS64 to me" when they have a 65 price. If the dealer is holding firm, don't be afraid to walk. Your legs are the biggest and best tool you have as a customer. I've walked away from many more coins than I've bought....no matter how bad I wanted it. Remember, another similar coin will eventually find it's way to you someday. There's a LOT of tricks to negotiation, it takes experience and knowledge to take on a dealer who is a professional negotiator.

 

In the past, I've listened to quite a few dealers comment about "Is this your best price?" not only on the various forums but also at shows as well, and I can't say that I blame many of them when they get a little rankled by this query. If they have already written the price on the holder (slab, flip or 2x2), then it should be up to the prospective buyer to make a counteroffer. Whether at a show, B&M or online, how can you expect any dealer to play a guessing game over how much you can or cannot afford to pay. MAKE AN OFFER! All he can do is say "No!" or come back with a counteroffer.

Chris

 

All dealers are different, just as all collectors are different. I do not like to haggle and will not engage in haggling when in a transaction. If someone is interested in a coin that I have for sale they can either offer a price or might ask what I need on the coin. As long as they are not insulting, either method works just fine. However, if you ask for a best price or for what the dealer needs on a coin then no further negotiation should take place.

 

If these coins are hard to find...and a nice fit for your collection, don't risk losing the deal over a few bucks.

Early on, I lost out on some very nice coins by "...squeezing a nickel 'til the buffalo poops".

 

Edit: Duplicate :grandpa: