Coin Negotiating and Shopping around

Yes, with bullion I'm not sure how you negotiate when the dealler is taking a very small profit on it already.

 

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I'm also not into negotiating. I would prefer that people just list the price that they will accept, and then I will decide whether I want to pay it. I also prefer that they post the asking price so that it is visible when looking through the inventory, then I don't have to feel like I'm bothering someone to get the price.

I've become accustomed to buying coins on Ebay, which kinda causes an issue when I go to coin shops. I look at a particular coin and think, "how much would I bid if this coin were on Ebay". I then ask the dealer how much he wants for it, they say "Blah dollars"......"Nope"

"How about this one"......"Blah dollars"....."Nope"
"How about this one"......"Blah dollars"....."Nope"
"How about this one"......"Blah dollars"....."Nope"

I'm not saying I win a large percentage of the auctions that I bid on, but my bid still represents the max that I will pay for a coin. That max applies whether buying online, at auction, or in a coin shop. I understand that dealers have to charge a particular price to make money, but I'm not going to pay more just to support someone that is working with an antiquated business model.

 

This is not always true and is a common misconception. Even if only using the two venues you mentioned, I can honestly say that my average overhead is a higher percentage than any of my local B&Ms. Many shops (not all, but many) do not have to hunt down their inventory and simply wait for it to walk in the door, be it from established customers/clients or the general public. This is or can be a luxury that non-B&Ms do not have. We also must consider the fact that most people expect a shop to pay less when selling, plus they automatically have a negotiating advantage when someone walks in the door. Shops also (often) have the ability to sell a much wider array of products... supplies, novelties, stamps, misc. collectibles, and especially bullion on a walk-in basis. Even with the high up-front overhead, there are many variables that are rarely taken into consideration that can make said overhead a near non-issue. Numismatic-value items are rarely what keeps the average B&M in business these days, but can be the bread and butter of many non-shop dealers. Locating high quality and profitable inventory is no walk in the park. Coins do not fall out of the sky and may have cost the dealer considerable effort and upfront investment to be able to offer for sale, regardless of venue, so to assume that anyone selling outside of a shop has little overhead is at best questionable. I often think many collectors either forget or do not realize this.

Well said. It's not easy when many collectors expect to sell top of trends and buy back of bid.

 

Clearly many eBay sellers are willing to negotiate on their asking price, hence the "Best Offer" function.
My philosophy is "If you don't ask, you don't get!"
The secret is FRIENDLY negotiation.
I don't try to beat the seller down to the last cent but I DO want to optimize my buying power.
It's tough to negotiate with a dealer on PM prices, they pretty much have a fixed spread and rarely vary from it, except in the case of a high volume purchaser.
OTOH dealers at coin shows I've attended seem more than willing to haggle a bit, so I figure, what the heck, I may as well ask!
Example:
I see coin "A". It's a nice example of a coin I would like for my collection and I want it (at my price).
Since I pretty much know the market values of the coins I need, I know what my bottom line will be.
I'll politely ask the dealer to see the coin WHEN HE'S NOT BUSY with other customers.
After examining it to make sure it's what it appears to be, I'll ask the dealer his price.
Regardless of what he says, I'll ALWAYS ask "Is that your best price?"
If it is and I think it's worth it, then I'll close the deal right there.
If he offers a lower price and I think it it's worth it, then the deal is made.
If he offers a lower price but one I still feel is too high, I'll counter with a fair market offer, which he is free to take or leave.
If he takes it, the deal is made.
If he leaves it, the negotiating is done and he can try to sell the coin to someone else who wants it more than I do.
Never do I put down either the coin or the seller.
What I DON'T like to hear is "I've gotta get X, since I have Y in it already."
Frankly I simply do not care what the dealer paid for it.
If he overpaid, it's not up to me to subsidize his poor business acumen.
When I hear that dreaded phrase, I pretty much know that negotiating is a waste of my time and his and I just move on.
Since my numismatic budget simply does not allow for me to purchase ultra-rarities, I'm pretty sure another coin will come along sooner or later.
No need to overpay or get aggravated.

 

Interesting thought, but not entirely true all the time.

 

Actually, the price marked on the coin, in many if not most cases, is quite a bit higher than the dealer expects to sell it for knowing that potential buyers are looking for a deal, and will try to haggle the price.

 

Well, after thinking about this some more I'd say that it's perfectly fine to negotiate with dealers, as I knew that
But it's those people that are the ones that won't buy a coin unless it is at it's melt value that I think is the ones that are pushing the limits.