Coin Dealers: Average markdown on trade in?

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My experiences indicate CDN Bid is what you hope to get.
You generally end up with less.

 

You must have been busy stacking on that dime.

 

E-Bay is OK if you are patient and willing to deal with idiots that think that if they are spending $100 they are parting with a small fortune. If you are in any sort of hurry or are easily stressed out the extra 5% you lose by in-hand sales will be more than worth it. When I want a coin over $500 or so E-Bay is at the bottom of my list of sources 99% of the time.

 

And is pretty fair assessment as long as one understands that less does not automatically equal unfair or unreasonable. Bid is simply unrealistic in many situations.

 

Well, Richie-rich, thats because $100 IS a small fortune to some folks... You sound like the guy who said I was being too picky one time... I was negotiating and mentioned how foggy/cloudy his 3cent proof was. He lost the sale because of that remark... Your damn right im gonna nit-pick a $400 coin. I worked hard for that $$$ , or a $100 coin for that matter... Some of us werent born with the proverbial silver spoon....

 

The OP stated he was selling $4000 to $6000 of his "smaller sets." At that level, you figure what your time is worth, not whether $100 is a deal-killer.

 

I would argue that for a large number of collectors, $100 is a small fortune. Many collectors will never own a coin in the several hundred dollar range (even a large number of the collectors on these forums!). For someone who doesn't make a lot of money, spending $100 on a coin is a very large purchase, and I can fully understand them wanting to make sure they get full value for their money.

Once you start talking about coins in the $500-$1k range, you are talking about a very different type of collector.

 

I agree that they are two different types of collector but 5 e-mails about packaging after purchase so that your "prize piece" doesn'the get damaged is ridicilous. And then to have it returned as a fake picture because the knucklehead thought it too expensive is idiotic.I just ate the return shipping with no neg and sold it 2 days later. If $100 is a ton of cash buy a $50 coin and rest at night. Geez.

 

What the buyer "believes" (and whether he considers $100 a monumental amount) has NOTHING to do with the sale or the seller. They either buy the coin or they don't. If the seller wants to play time-consuming games, list the coin buy-it-now incorporating the "best offer" feature.

 

In the grand scheme of things very true.

 

I tell you what sir. I buy coins or coin lots for $400 or more quite often. I worked full time to pay for my own college, joined the military and went to a war even, and continued working hard getting my MBA and now working on my Doctorate. I was the very first person to ever get an associates degree in my family, let alone a bachelor's or graduate degree, and paid every last nickel myself.

I am just saying do not assume every person buying a $500 and up coin is from privileged class. I worked my BUTT off all my life, and if I wish to buy something for my enjoyment now and then I believe I have earned that right. It's called capitalism. I pulled myself up from my bootstraps, worked really hard, and now have the ability to buy what I like.

 

That is your right.....buy or don't buy. If you are using a picture to try and get an extra $5 out of some guy on a coin the only issue I see is why he didn't realize sooner that he should have moved on from this problem buyer and found another. Some people think it prudent to collect catsup and mustard packets to save a buck. I am far from rich but there are limits. All money isn't good money.

 

While I believe the dealer has offered a fair price, asking him to pay another two to three hundred is worth trying. If he doesn't budge, take what he's offered.

 

The dealer knows that. He won't budge. Betcha. And silver's not cooperating, flat today.

 

Maybe i mis-understood your post then...
I agree about ebay, i dont buy from that venue, i like to assess a coins merits in-hand. I thought you were insinuating someone is an idiot because they dont just blow $100 on an item like its nothing
The situation you are referring to does sound idiotic, and yes most of my coins cost me atleast $100 but i do buy lesser coins from time to time. Isnt that the beauty of the hobby? You can put together a nice set no matter how deep your pockets are. Im lookin at you, toned kennedy, jefferson, ike and lincoln collectors!

 

"30% lower" would mean around a 40% markup for the dealer. That is about an average markup that many businesses use as a guideline, with flexibility of course as needed.

 

Wow! Thanks for the responses.

He screwed up his offer, but I walked out with $3,300. On the majority of the extremely common or useless sets, he was at 50% eBay prices. He was at melt price for some as well. Didn't help that all of my Morgans I was purging were ANACS graded.

I figured with shipping costs on 75-80 sets and time to list, it would of added up to $1,000+ dollars.

 

I cant stand it when dealers beat up on anacs graded morgans!! Is he gonna sell that morgan for under bid ?? No & hell no!
Thats a strategy they employ, but the truth is, anacs grades morgans better than both pcgs AND ngc!! They attribute vams better than both companies put together!!