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<p>[QUOTE="AncientJoe, post: 5290144, member: 44357"]Echoing the points from [USER=39084]@IdesOfMarch01[/USER] and others, dealers are applying their time, skill, and experience to identify what coins to buy, every once in a while paying less for a coin than they think it's worth, then offering it closer to their perceived price, profiting their margin, permitting them to stay in business.</p><p><br /></p><p>It's the same situation as a collector saying "I got a deal on this coin" but dealers put their money where their mouth is with a shorter time horizon for resale. Many dealers carry a significant quantity of stock and we should thank them for having wholesale bids to help stabilize prices in markets/situations where other collectors aren't bidding or already have examples of the type.</p><p><br /></p><p>Perhaps their valuation is different from yours, in which case, there is no obligation for you to pay their desired markup: the market will eventually speak and they'll either sell the coin at their price or keep it in their case.</p><p><br /></p><p>Many of my favorite coins came privately from dealers. They made money each time and I got the coins I wanted at prices I could justify. I wouldn't have had access to the coins if I chiseled them down on every transaction: I try to avoid overpaying but I recognize that professionals deserve compensation for their skilled labor and capital outlay. </p><p><br /></p><p>There have been a handful of cases where dealers have sold me big-ticket coins for very modest (2-5%) markups when subsequent inferior examples have sold for 2-3x what I paid at auction: there's merit in straightforward transactions with repeat customers and, in my eyes, dealers should be treated as friends, not adversaries.[/QUOTE]</p><p><br /></p>
[QUOTE="AncientJoe, post: 5290144, member: 44357"]Echoing the points from [USER=39084]@IdesOfMarch01[/USER] and others, dealers are applying their time, skill, and experience to identify what coins to buy, every once in a while paying less for a coin than they think it's worth, then offering it closer to their perceived price, profiting their margin, permitting them to stay in business. It's the same situation as a collector saying "I got a deal on this coin" but dealers put their money where their mouth is with a shorter time horizon for resale. Many dealers carry a significant quantity of stock and we should thank them for having wholesale bids to help stabilize prices in markets/situations where other collectors aren't bidding or already have examples of the type. Perhaps their valuation is different from yours, in which case, there is no obligation for you to pay their desired markup: the market will eventually speak and they'll either sell the coin at their price or keep it in their case. Many of my favorite coins came privately from dealers. They made money each time and I got the coins I wanted at prices I could justify. I wouldn't have had access to the coins if I chiseled them down on every transaction: I try to avoid overpaying but I recognize that professionals deserve compensation for their skilled labor and capital outlay. There have been a handful of cases where dealers have sold me big-ticket coins for very modest (2-5%) markups when subsequent inferior examples have sold for 2-3x what I paid at auction: there's merit in straightforward transactions with repeat customers and, in my eyes, dealers should be treated as friends, not adversaries.[/QUOTE]
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Provenances of Ancient Coins -- Coinweek Article
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