Why can people be cheap with selling their coins and vice versa?

I know it's a simple question, but I see it all the time..

I never mind selling my coins at fair prices(ie grey sheet) just to stand out from all the others who are trying to milk their coins for what they are worth.

Is this a winning business model? I'd think so, but who knows unless you work it long enough..

I just don't get why some people in this business when it comes down to them selling their coins can act like such hogs with price.. I'm not even talking about B&M dealers.. I just mean people on ebay!

Thoughts?

 

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Well, it's a situation that is common in just about every hobby. People always try to squeeze every single cent they can out of their various wares. It's far too common, and it puts people like myself out of the opportunities to purchase certain things.

That aside, the answer to your question is "greed". There are people out there who will step on anyone's neck to make a quick buck. Bravo to you for being one of the good guys. You're the type that keeps the hobby alive for people such as myself.

 

Thank you very VERY much and I don't mind selling a nice coin to you for fair value, and I define fair value as grey sheet ask. I don't know why that's so rare these days.. I think they should either get rid of the red book or make its prices more in line with grey sheet. It confuses me and I'm sure confuses a lot of other people because they don't know what price to base their buy on! I think we just need one guide and that's it.. The guide does help set the price on the open market, but was always also very important is seeing what others will pay for that item as well but lately, I see people are paying too much!

 

My pleasure!

As someone who is just getting back into the hobby, I have been somewhat intimidated by the abundance of price guides. I am inclined to agree with you about a single standard, if only for my own convenience and comfort. It's definitely confusing at first, and from what you're saying it stays that way. I'm looking to start building a wish list soon, and hopefully I will have a chance to buy from you. Thanks again for the insight.

 

Grey sheet is wholesale...dealer to dealer....while the other published guides are retail, or what you would expect to pay in a shop.

If you have an inexaustible supply of good material way below grey sheet, then blow 'em out below wholesale. I can't afford to. I don't have an inexhaustible supply of material, and most of it is not bought below grey sheet ask.

Didn't you ever wonder why it was called Coin DEALER Newsletter?

Nightowl

 

You really believe Grey sheet is wholesale? That's not what I was taught..

I was taught that grey sheet is for retail and blue sheet is wholesale.

 

What's wrong with selling things for as much as they're worth to the buyer? Just wondering...Mike

 

Right, but I think it all depends on who values its worth.. Is it you, the buyer? The greysheet or redbook? Past auction archive's values? See I find it very challenging to just pick one value so I say just go with the fairest sounding one to the customer that still won't cause you a loss! I think it keeps one disciplined that way so they don't go into greed.

 

Nothing, certainly! However, I believe the post was geared toward dealers marking up their items and the idea of taking advantage of people who do not know any better.

 

I have read right here in this forum exactly that which I just wrote....that greysheet is intended for dealer to dealer transactions.

Don't shoot the messenger.

Nightowl

 

Does the market define the price guide or the price guide define the market?

To me, the market (i.e. buyer) defines the price, not the other way around. Your position (i.e. pick a guide and stick to it) seems, to me, to be quite the opposite of reality.

But what do I know?

 

Grey sheet is meant for dealer to dealer transactions. Imo expecting grey sheet "ask" prices is kind of high. I usually really on completed auction listings, and expect a price slightly below that.

 

Thank you, I understand that.

The point I was trying to get BnB to recognize is that it's up to the buyer to set the market, as discussed in the post above, and "going by the guide" is a recipe for disaster, IMO.

 

Fair enough. I can definitely see where you're coming from.

 

Grey sheet ask is kinda high?

I don't think so, I think grey sheet is the more fair price of most the price guides out there.

 

Well, I don't mean it's good to ALWAYS go by the guide but yes, I stand by the idea of giving general people good deals just to be nice.

It also keeps me very humble so I don't become a greed hog with my coins or deals ever.

 

No worries.

The point is that people will always try to maximize their profit -- that's capitalism. It's up to each of us as buyers to decide what's a fair price for any particular coins.

 

Absolutely..

Do you ever feel like once in a while we should get a seller or two who just want to help the public with a good deal instead of get everything you can for it?

I don't know, it would be nice to see

 

And with our Gov't insatiable need to build cheeseburger museums and bribe senators with 300 million tax dollars at a time....better make sure you're making enough to have anything left after you've paid those who are "TRULY" greedy.

Nightowl

 

I would only use the grey sheet as a guide, make an opening bid, and then come to an agreement on price. If I really like the coin, then I will be willing to pay a premium over the ask price.