Re: Dealers: How do you handle buying back merchandise? With an example.
Bremick
"Ankur Jaiswal" <anku...@yahoo.com> wrote in message
news:iqmio6$5it$2...@speranza.aioe.org...
> When a collector who purchased a coin from you wants to sell it back to
> you
> for cash or for credit, do you have a set way to handle it? I know some
> dealers who will give back 100% of the purchase price, where others will
> give 90%.
>
> I ask this question because I tried to sell something back to a dealer at
> the GSNA New Jersey show today. I bought a medal last year for $500 from a
> dealer. I realized when I got home I overpaid by about $125. Not the end
> of
> the world. I took the medal with me today knowing the dealer would be
> there,
> and this is the exchange that happened:
>
> Me: Hi, I bought a medal from you last year, and was wanted to know if you
> would be interested in buying it or giving me credit.
>
> Dealer: Sure, I'll take a look.
>
> Me: I paid $500 for this.
>
> Dealer: There is no way you paid that much.
>
> At this point, I pull out his original tag with description with a price
> marked $550.
>
> Me: Yes I did, and here is your original tag.
>
> Dealer: (very proud of himself) I did good getting $500 for this.
>
> Me: ok, so what can you offer me in credit?
>
> Dealer: $200
>
> Me: (Shocked) I paid you $500 for it!
>
> Dealer: Well thats all I can offer.
>
> Me: Well, that is the last time I ever buy from you.
>
> Ok, so yes this has left a very sour taste in my mouth, as this dealer
> clearly would rather lose a customer to make a quick buck.
>
> My question to dealers is, what would you do in this situation? Wouldnt it
> be better to say I cant use the coin/medal right now rather than make such
> a
> low ball offer?
>
> Collectors: what would you do if you were in my shoes? Yes I know the
> obvious answer is know what you're buying, but the mistake was made, and I
> realize that and know better for the future.
>
If you know the obvious answer, what else do you expect here? What did you
expect to get for the medal one full year later? What you paid for it? You
apparently were satisfied at the time to part with your $500 for the medal.
How long before you decided you paid too much? Do you buy objects like this
first and then check later to see if you paid the going price? Regardless
of the dealer's bedside manner, he wasn't bound to return all or most of
your money for a medal he might have no buyer for. Ever try to sell a
diamond back to the jeweler you bought it from?
howard
for that insurance.
Perhaps the "dealer" could have been more tactful, or offered you a "deal"
on something else, such as given a credit on an up-grade or a new purchase
(trade-in), but I see no obligation to refund full amount.
oly
The first paragraph of this post is preposterous and the rest of the
post is just pud-pulling. Retail don't work that way.
oly
Bremick
"Brian" <bri...@verizon.net> wrote in message
news:iqoh87$eje$1...@speranza.aioe.org...
> Dealers are supposed to be professional, and know their business. I
> don't condone this dealer's actions. A dealer is still reponsible for
> knowing fair market value and charging his customers a low enough price
> accordingly so in the event it does come back to them, they can make a
> fair offer. While I don't expect dealers to be able to buy back
> everything that comes back to them at 100% of what was paid, they
> should be able to buy most everything close to that assuming there is no
> market crash and coins return in an orderly manner. If you took
> advantage of your customers as prices bloomed, be prepared to help them
> out after prices got crushed or expect to lose them as customers. One of
> my general coin axioms is that the bulk of dealers don't want 90% of the
> coins they sold back, esp. from collectors who know fair value. These
> guys prefer to buy for peanuts from chumps and then sell
> to well-heeled buyers for all the money. It's a one-way street. They
> don't want those coins back again at anything near fair market wholesale
> value. More profitable
> to buy from unknowing public.
So since you know all that, it's not likely you would buy a medal from a
dealer for $500 and then check out prices elsewhere, finding you could have
bought it $125 cheaper from someone else. And you wouldn't be likely to
return to that same dealer a year later with that same medal and essentially
expect your original money back or the equivalent in merchandise.
>
> I went through similar things in my early years with local dealers. One
> was selling me gem raw commems for grey sheet ask prices. When I came
> back a couple of years later
> to sell them he said he had no customers for them. What he really meant
> to say was that he was buying those commems as MS60-MS63's and then
> selling them for 65's. He only
> wanted to buy them back as he orig had bought them (ie 1 way street).
> Scratch that guy off the list. I haven't been in his shop in 30 yrs and
> I pass by it fairly frequently.
You accuse the dealer of selling you commems at gray sheet prices, when in
fact you were buying them from him at grey sheet prices. Choice of words
can change things. One way implies you felt he was ripping you off, the
other that you were satisfied with these transactions.
>
> Another dealer who I had purchased a BU reeded half from told me she had
> never seen that coin before in her life and would not buy it back at any
> price, this after buying several
> important coins from her. Never looked at that dealer's coins again even
> though they set up at the monthly show I attended over the next 20 yrs.
> There are always
> plenty of coins out there and plenty of dealers to buy them from. This
> is why I suggest all collectors at times try to sell some of their coins
> to the dealers they buy from. Find out
> if you are on 1-way or 2-way street. To those that say they are just
> collectors and never sell, all I can say is "good luck."
Why would a collector who never sells his coins need "good luck"? If you're
one who sells his coins to dealers, you ought to know by now that you often
will take a significant hit from the price you paid-- regardless of where
you bought it. And just because you are ready to sell a specific coin
doesn't mean a dealer should be willing to invest his capital in it (at your
price) if he thinks it might sit in his stock for a while and tie up his
money.
Bremick
> By the way, the dealer was Thomas Enterlein
>
> Here is the medal in question.
>
> http://i56.tinypic.com/2dag0vn.jpg
Looks attractice to me. I have no idea what it's worth. Apparently neither
did you when you bought it. I would imagine that there is a much wider
range of values for these things than for coins. Unless you have a good
working knowledge of prices in this field, maybe you shouldn't buy medals on
impulse-- especially $500 ones.
oly
> By the way, the dealer was Thomas Enterlein
>
> Here is the medal in question.
>
> http://i56.tinypic.com/2dag0vn.jpg
You just don't get it, do you???
There is no obligation to make any buy-back offer, let alone one that
gets you out at break even.
I hope that the dealer comes back with your real name, and any handles
that you use on ebay. You should be shunned and blocked.
oly
mazorj
"oly" <oly...@aol.com> wrote in message
news:75d79379-951c-40bc...@w10g2000yqa.googlegroups.com...
oly
===========================
IMO the problem is that the OP (like most of us) unconsciously has been
spoiled by the generous refund policies of large retailers. At most stores
you can take an item back 30, 60, or even 90 days after the purchase and get
a full refund if you have the receipt. He apparently assumes that anyone
selling anything should have comparable "take back" policies.
Unless the table has a notice posted of "No refunds, all sales are final'"
it might be reasonable to expect dealers to offer 100% refunds for a short
period of a few days. However, not only did he wait a year to ask for what
amounts to close to a full refund out of buyer's remorse, but you have
zeroed in on his second mistake (the first being the purchase itself): An
attitude of entitlement based on an erroneous assumption about a seller's
obligations.
Technically he wasn't asking for a refund; but his expectations on a
buy-back offer amount to the same thing. Anyone who says "I'm shocked,
shocked that he would buy so low and sell so high!" obviously never learned
anything by watching "American Pickers" or "Pawn Stars". The pawn shop guys
usually make what I consider rip-off offers of one-third to one-half of what
they expect an item to sell for, but they do have to run a business and (to
my delight) sometimes a disgusted seller just walks out. The two picker
guys are much more likeable but they also have to earn a living. Because
their negotiating tactics are friendly and flexible as opposed to the pawn
shop's "take my crummy offer or leave it" style, I do not resent the fact
that sometimes they hit the jackpot with an item that will be resold for 5
or even 10 times the purchase price. After all, they travel hundreds of
miles to come to the seller's house and make unsolicited, unexpected offers
of "cash for trash" that amount to found money for the owner. Their
purchases are final so they also assume all the risk - no showing up on the
seller's doorstep asking for a buy-back.
So whether the dealer is a hard-ass with tattoos and shaved head or a
likeable mensch who accords you dignity and respect, business is business.
The OP obviously expects coin dealers to somehow operate on a different
model and assume most of the risk of of the purchase. Unless he revises his
expectations after seeing the informed negative responses to his naive
complaint, he is doomed to a life of numismatic unhappiness.
- mazorj
"No refunds on opinions, advice, or declarations of fact."
oly
> "oly" <oly2...@aol.com> wrote in message
The short of it is that you're wrong, as always. We appreciate that
you are consistently wrong (we can add to our decision making process
based upon your consistent wrong-ness); but could you be wrong more
consisely or even tersely???
oly
Frank Provasek
foreign coins and there is no guarantee you will find a buyer even at
your cost. Medals are even MORE esoteric and less liquid, so 40% might
be generous. Buying at a coin show is a wholesale venue, expect
dealers to put ZERO value for your "loyalty." Also, much merchandise
is often sold on memo from other dealer's boxes for a small commission
for whatever they can sell. I have sold stuff for others that is so
weird I would never want to deal in it, and thus would not be willing
to pay much for it a year after settlement.
----
Frank Provasek Rare Coins www.frankcoins.com
http://shop.ebay.com/merchant/frankcoins Texas Auction License
11259, Board member of Texas Coin Dealers Association,
Member TNA, ANA, PCGS, NGC, ICTA - Full Time Since 1991
mazorj
oly
===============
To put it tersely, how the hell was I wrong?
To put it bluntly, I was f*****g agreeing with your limited assessment, oly.
The rest was amplification on the point. If you couldn't f*****g see that,
maybe I do need to f******g shorten and dumb down my replies to you. What's
the maximum sentence, word, and syllable count you can cram into your head
at any moment?
There - short and dumb enough for you now?
gogu
news:iqsck1$c0v$1...@dont-email.me...
Don't bother with him, he will insult you even if you...agree with him:-)
To the oblivion with him I say.
PS
Now stay tuned for the avalanche of the insults and names calling;-)
--
E' mai possibile, oh porco di un cane, che le avventure
in codesto reame debban risolversi tutte con grandi
puttane! F.d.A
Coins, travels and more:
http://s208.photobucket.com/albums/bb120/golanule/
http://gogu.enosi.org/index.html
som...@some.domain
>On 5/17/2011 8:16 AM, gogu wrote:
>> Don't bother with him, he will insult you even if you...agree with him:-)
>> To the oblivion with him I say.
>
>needs help. This is serious, and it's getting worse and worse. Nobody is
>this nasty and ornery without reason, and now we know the reason.
>Anybody near him who can organize an intervention for Oly? I hate to see
>somebody degenerate like him, Oh, the humanity!
>
fire up the cookie canon and send a salvo asap.
oly
> In article <4mqnj0.2bi.1...@news.alt.net>, Reid Goldsborough <reidgolduse...@yahoo.com> wrote:
> >On 5/17/2011 8:16 AM, gogu wrote:
> >> Don't bother with him, he will insult you even if you...agree with him:-)
> >> To the oblivion with him I say.
>
> >It's those Little Debby "oatmeal" cookies he's addicted to. The man
> >needs help. This is serious, and it's getting worse and worse. Nobody is
> >this nasty and ornery without reason, and now we know the reason.
> >Anybody near him who can organize an intervention for Oly? I hate to see
> >somebody degenerate like him, Oh, the humanity!
>
> fire up the cookie canon and send a salvo asap.
Thanks, I had a real nice winning scratch-off ticket today and it
bought me a whole case of LDOCP (with funds left over). I ate four or
five of them in less than ten seconds.
Can't have the psuedo-intellectual reincarnation of "Uncle Walter"
telling me what to do.
oly
"You know, the salesperson said that since they raised the price, they
can now put more genuine wholesome oatmeal in each and everyone of
those LDOCPs."
oly
wrote:
> On 5/17/2011 8:37 PM, oly wrote:
>
> > Thanks, I had a real nice winning scratch-off ticket today and it
> > bought me a whole case of LDOCP (with funds left over). I ate four or
> > five of them in less than ten seconds.
>
> for cheap chemical food. You go, girl. I'm sorry the price recently went
> up. Perhaps a letter to your congressman?
>
> --
>
> Consumer:http://rg.ancients.info/guide
> Connoisseur:http://rg.ancients.info/glom
> Counterfeit:http://rg.ancients.info/bogos
You go, psuedo-intellectual pedophile Reamo!!! Make it all up as you
go along, Walter!!!
oly
mazorj
"Reid Goldsborough" <reidgol...@yahoo.com> wrote in message
news:4mth77....@news.alt.net...
> On 5/18/2011 5:31 AM, oly wrote:
>> You go, psuedo-intellectual pedophile Reamo!!! Make it all up as you
>> go along, Walter!!!
>
> gotten your points across with just one per sentence. And now three per
> sentence isn't working either. I'd recommend creating a macro so that by
> pressing a key combination of your choice, you can have your fine ISP,
> AOL, automatically end sentences with, say, a dozen exclamation points.
I suspect the opposite problem. He has an e-mail/newsgroup app that limits
his frequent insertions of a dozen exclamation points by imposing a maximum
of three.
The app also cleans up his RaNDom UsE of cApITaliZed LettErS, which every
respectable believer in SeKriT guBmiNt ConSPirAciEs uses when posting.
> While you're at it, why not set up a more appropriate sig. Instead of
> "oly," which is universally recognized as a joke, include something
> meaningful. Here's just one suggestion. Please don't consider this as
> imperious or anything like it. Just trying to help out someone in need.
> Why not, for your sig, you use: AOL, Little Debby, and [your real name],
> perfect together.
AOL = Another Online Lunkhead? Agitprop Opponent of the Left? Alcoholic
Oly the Lush?