Mike Carmado Rare Coins

This guy contacted me wanting to buy out my entire inventory, and he said he could give about 80% of my asking prices. I told him that sounded somewhat fair, so he went offline to do some calculating after I sent him all of my pictures. Then he came back with an offer of about 30% of my asking price (classic Bait-And-Switch), accusing me of optimistically high prices. ($15 for a problem-free AU Barber Quarter and UNC Columbian half? $7 for an original VF 1853 quarter? $3 for an MS 1913 type 1 nickel? His offers were all crazy low. I just sold one of my Barbers for more than his offer on all of them.)

There were two coins he had agreed on paying my asking price for (Red flag). I looked at his sheet, and it was obvious that he had higher prices marked down, but he scratched them out to put down my prices (ones with a star on the below sheet). edited

This guy has an eBay store, but I recommend not supporting his edited enterprise. My experience with dealers at a show tells me that most would offer significantly more than what edited did on most of my coins.

 

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Plus it looks like he's sitting on the toilet while working up his offer....

 

LoL!

 

Some folks do their best work there.

 

Does that one say 1867 two cent proof $85?

 

Yup. Certified by NGC

 

That's like, the ultimate lowball. AKA: robbery.

 

This made me laugh!! Thank you...

 

I just realized I spelled his name wrong. It should be Mike Camardo.

 

When he gives you his offer (X), you say, 80% is= (Y). Then you get to hear his rap/pitch. Well, blah blah blah. "Why should I sell you my coins at 30%of their value?" And if he talks down the quality, grading. Why do you want them if you just said they are no good?
It doesn't matter what business we are talking about. (This one just happens to be rare coins.) There will always be someone without a conscience trying to rip someone off.

 

Reading my mind again, I see, P&G!

 

Can you post pictures of some of your coins he offered on?

 

I would like to see photos,... I would guess the truth is, the market won't bare what you want to get for them, unless you sell them to someone who doesn't want to make money on them, 80% of value, and 80% of full book price are two wildly different things.

 

In other words, he tried to edited: read rulesyou out of your coins.

 

I'll say this. Without knowing what your coins look like your throwing someone under a bus and saying his offer is crap. Well what if your coins look like crap to? Just a thought. You may have nice coins but you can't expect a dealer to offer you 80% of retail. He has to make money somewhere! If you want retail for your coins then sell them individually yourself. Don't go to a dealer expecting to get a great price they are in this to make a living.
I buy houses at below market value all the time and then sell them high. You know why, because I'm in the business to make lots of money.

So you need to either sell them yourself or back up your statement with cold hard facts and post pics of your coins so the rest of us can make an educated decision.

 

The 80% sounds like a line, that he had no intention of honoring, just to get him interested. A real dealer doesn't take a photo of himself in his socks and underwear at the living room table with some numbers written out on loose leaf paper.

 

You should probably choose your words a little more carefully. Welshing on an offer if in fact there was one is not Criminal. It may certainly be lowlife scummy business practices but that's not a crime.

However libel is a civil tort...

 

I just say no to low offers and move on.

 

Don't buy anything. Here are a bunch of my coins with my pictures. Sure, the prices are high, but I am expecting offers of 60-80%. Where coins are cleaned, I call them cleaned.

Since it is your stuff for sale, not allowed in posts.

 

See pictures in above link.