Tell me if this is accepted or sketchy. I went to a prominant dealer yesterday and showed him a coin. I asked $4600. He looked with his partner for a long time then said "no". So I said I'd take $4350 and the partner says, "Yeah. I'll do that." So the OTHER guy says, "Wait a minute. Now you're changing your mind?" "Let me see it. I'm making the final determination." So he overrules his partner a minute later and all of a sudden the coin I had sold, wasn't sold. Your thoughts?
All depends on who was in charge. Sort of sounds like the boss overruled an employee. That happens in life.
Stinks that it happened, but I wouldn't call it sketchy. His partner is entitled to his opinion and if they are partners for purchases, than he has a right to speak his mind and not complete the sale.
"Yeah. I'll do that" sounds like a done deal to me. The way you describe it he was a partner not an employee. TC
He is a partner, but the guy that overruled him has his name on the business. I'm not saying it was sketchy. I just felt weird about it.... the deal was done and then suddenly it was undone.
If one partner can "overrule" the other, then it was never an actual deal until the guy with the power agrees to it. Also, it seems to me that you are more concerned about not unloading this coin than you are about making a mutually positive transaction. Disappointments are part of the game and if you want to continue to be a dealer, I respectfully suggest growing thicker skin because sooner or later worse things will happen than a simple no deal. Had the guy with the power agreed to buy it, asked you to hold it, and because of this you lost the opportunity to sell elsewhere, then you would have a complaint, but this caused you no real harm and should be viewed as nothing more than an inability to come together.
How do you know the other guy was a "partner" if his name's not on the business? It's actually not a "done deal" until payment is made. Fine distinction between "business partner" and "associate". "Sketchy" would have been a ridiculous counter offer or telling you something you that isn't true. This was a difference of opinion between two guys behind a table, with the one controlling the purse strings overriding the one who doesn't. Like PennyGuy says, that's life.
I'm still new to the coin dealer business, which is why I asked. Thanks for the advice. It certainly didn't ruin my day. I made out fine with othrr deals. And to answer another member's question, I know the guy Is a partner because It Is hIs face and name used more in advertIsIng.But Iguess he Isn't the one wrItIng the checks.
Sounds like it would be a weird vibe fo me too. I have been on the other side, having a dealer change his mind on a sale price. Life is too short for ackward moments like that. Heck, i just had a similar one. A dealer promised me a discount on a few coins, but a bigger discount if the rest of the group if he didn't sell the rest of the lot in a couple of weeks. Well a couple of weeks passed,, and he emailed me offering a 3% discount on just some coins in a $2000 group. I said no, so he reinvoiced me the coins we originally talked about with no discount at all. I paid it since i really wanted the coins, but doubt i will ever order from him again. His loss too, since i was already looking at a few more k of his coins.
Sounds like every episode of "Pawn Stars" and "Hardcore Pawn" to me. I've never tried selling a coin to a normal dealer before though so i'm not sure.
Maybe when they said no the first time and you lowered your price the one guy figured you would lower it again after he said no the second time.Whatever it may be we'll never know but its their prerogative to either buy or not.
