Those that by silver

JohnnyH · Sep 21, 2017

-jeffB said: ↑

When I'm buying anything to resell, I want to make sure it's worth my time and trouble, and I also factor in risk (and opportunity).

Time and trouble: I won't drive across town to buy something for $15 that I can sell for $20. $150 for $200? Maybe. $1500 for $2000? I'm there. If I see a BIN lot on eBay, I'll take a smaller margin, because my "time and trouble" is much smaller. (Click a button, wait, open a package -- and opening packages is fun, not work.)

Risk: if I'm buying silver, I always assume that it may go down before I can sell it. It could also go up, of course, but I don't like that sort of gamble. I guard against that by waiting for the right discount, and by thinking about how soon I'll be able to sell. (I usually sell to a particular dealer at local shows, because he consistently offers more than other dealers. I don't sell enough at a time to justify shipping to Provident, even though they pay a bit more.)

Opportunity: if there's a lot that looks like it may contain some more interesting material (better dates/conditions), I may pay melt or even above. I do like that sort of gamble, where I might lose a little money, but I might gain quite a bit.

I see people advertising on local Craigslist to buy pretty close to melt (maybe 5-10% back of melt). I wouldn't go into the business myself buying at that price. Pawn shops offer 50%-60% of melt; I'd be ethically uncomfortable offering a price that low, but if I find a BIN (or an overlooked auction) going at that price, I'm happy to participate. So I guess my sweet spot would be maybe around 20% below melt?

And as a result, of course, I don't get opportunities to buy very often. I'm okay with that. It's the searching and finding, not the having or selling, that I enjoy most.
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GDJMSP · Sep 22, 2017

BooksB4Coins said: ↑

Equal opportunity, my friend.... I don't discriminate.
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Oh good ! I say that because it seems as if there might be a slight discrepancy in the understanding of exactly who pulled whom's leg first

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Those that by silver

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