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Did I do something wrong?

Started by jerseycat10,

42 posts in this topic

jerseycat10

jerseycat10

Posted
Posted

So at the Philly show last week, I saw a beautiful rainbow toner, NGC certified, in a dealers case.

 

I was familiar with the coin, because I was the underbidder on the same coin about 2 weeks prior on Teletrade. (eventually sold for ~ $400).

 

The coin was as beautiful in person as it was in the images.

 

I mentioned to the dealer that I was the underbidder, and that I was interested in buying the coin. From that point forward he literally would not talk to me or answer my questions, or even give me a price for the coin.

 

Did I do something ethically, morally, or etiquettely (sic) wrong by mentioning I was the underbidder of the coin, and/or I knew how much he had into it?

 

Thanks.

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brg5658

brg5658

Posted
Posted
So at the Philly show last week, I saw a beautiful rainbow toner, NGC certified, in a dealers case.

 

I was familiar with the coin, because I was the underbidder on the same coin about 2 weeks prior on Teletrade. (eventually sold for ~ $400).

 

The coin was as beautiful in person as it was in the images.

 

I mentioned to the dealer that I was the underbidder, and that I was interested in buying the coin. From that point forward he literally would not talk to me or answer my questions, or even give me a price for the coin.

 

Did I do something ethically, morally, or etiquettely (sic) wrong by mentioning I was the underbidder of the coin, and/or I knew how much he had into it?

 

Thanks.

 

Well, the outcome may have been more interesting had you saved that "underbidder" information until you got an asking price out of him. ;) But, given the way you describe the interaction, it sounds like the guy was not so happy you knew how much the coin went for. Some (obviously not all) dealers like to keep their sellers in the dark as much as possible....it gives them the upper hand. I'm actually much more likely to purchase from a dealer that is forthcoming and honest about what he/she has in the coin if it comes to that.

 

Were you eating popcorn over his cases? That's the only possibility I can think of otherwise. :popcorn:

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comicdonna

comicdonna

Posted
Posted
So at the Philly show last week, I saw a beautiful rainbow toner, NGC certified, in a dealers case.

 

I was familiar with the coin, because I was the underbidder on the same coin about 2 weeks prior on Teletrade. (eventually sold for ~ $400).

 

The coin was as beautiful in person as it was in the images.

 

I mentioned to the dealer that I was the underbidder, and that I was interested in buying the coin. From that point forward he literally would not talk to me or answer my questions, or even give me a price for the coin.

 

Did I do something ethically, morally, or etiquettely (sic) wrong by mentioning I was the underbidder of the coin, and/or I knew how much he had into it?

 

Thanks.

 

Well, the outcome may have been more interesting had you saved that "underbidder" information until you got an asking price out of him. ;) But, given the way you describe the interaction, it sounds like the guy was not so happy you knew how much the coin went for. Some (obviously not all) dealers like to keep their sellers in the dark as much as possible....it gives them the upper hand. I'm actually much more likely to purchase from a dealer that is forthcoming and honest about what he/she has in the coin if it comes to that.

 

Were you eating popcorn over his cases? That's the only possibility I can think of otherwise. :popcorn:

A dealer needs to make a profit. I am not sure why it would bother him, that a customer knows how much he paid for the coin. If I was this dealer, I would be happy to see this customer come to my booth. I would add on a percentage to include an ample profit, and give the customer my sell price.

 

As a customer, I would walk by this dealers booth at future shows.

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RWB

RWB

Posted
Posted

Fear.

 

Knowledge by the buyer promotes fear in the seller, especially if they subconsciously feel they are overcharging.

 

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jom

jom

Posted
Posted

If I'm the dealer I just ask the price I want. He shouldn't be afraid of anything because he has the right to sell his coin at whatever price he wants. If he doesn't sell it because of his price that is another matter. Whatever the case he should have been honest to you and just quoted you his price and not be a jerk.

 

jom

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comicdonna

comicdonna

Posted
Posted

Did the dealer act angry or did he just shy away with a guilty look? I ask this because I have known dealers that are grumpy, and may bite the head off from a customer if he was to ask about conservation or was just having a bad day, Also, some that are shady and shy away if you catch them off guard. I was just trying to picture the scenario that took place.

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comicdonna

comicdonna

Posted
Posted
comicdonna,

 

I didn't sense any anger, more like avoidance. He pretty much wanted me to be gone from his table.

Thanks! I understand now. (thumbs u
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e1cnr

e1cnr

Posted
Posted

are you 100% sure the coin is the one you bid on?

 

did it sell and have a posted sale price at Teletrade?

 

I am not sure what dealer thought -

window shopper, can't afford my stuff, wish the table owner would come back, gosh I'm hungry, slow day at the show when should I leave......

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Mr.Mcknowitall

Mr.Mcknowitall

Posted
Posted

Was the Dealer the wining Bidder?

 

From his actions, I don't think he was, because he/she would obviously know what the underbid was, and that both of you knew the "value" of the coin as bought-not the same as what it would sell for. There would not be any reason to not discuss the coin with you, because you would have already had an appreciation of the coin, and by your own description, you thought the coin was much better in hand, which translates into a willingness to consider paying more than your original Bid.

 

I wonder if this was a situation that the Dealer was handling this coin for an anonymous person, and that person gave certain parameters concerning the coin and/or its origins, and your inquisitiveness may have placed the Dealer in a quandary and he concluded his only choice was silence.

 

Then again, maybe not....

 

Respectfully,

John Curlis

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physics-fan3.14

physics-fan3.14

Posted
Posted
Yes, 100% sure it was the same coin.

 

Here is the coin in question: http://www.teletrade.com/coins/lot.asp?auction=3131&lot=1692

 

The dealer insinuated that he won the coin at auction, so I can only conclude that he was in fact the winning bidder.

 

Oh, that's nice. Sorry you didn't win it :(

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Mr.Mcknowitall

Mr.Mcknowitall

Posted
Posted
Yes, 100% sure it was the same coin.

 

Here is the coin in question: http://www.teletrade.com/coins/lot.asp?auction=3131&lot=1692

 

The dealer insinuated that he won the coin at auction, so I can only conclude that he was in fact the winning bidder.

 

Insinuation is not Truth-it is sometimes Bragging, until someone like you or that Feld guy comes along and ruins the Party.....it is possible the reaction was sheepish, because you "caught" him....

 

There is no other logical explanation for his actions, barring the mysterious Dealer/Buyer Dementia Disorder, for which there is no known cure.

 

Respectfully,

John Curlis

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jom

jom

Posted
Posted
The only one who did something wrong (as in act badly) was tne dealer.

 

Do you think the dealer was offended? :devil:

 

jom

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coinman_23885

coinman_23885

Posted
Posted
So at the Philly show last week, I saw a beautiful rainbow toner, NGC certified, in a dealers case.

 

I was familiar with the coin, because I was the underbidder on the same coin about 2 weeks prior on Teletrade. (eventually sold for ~ $400).

 

The coin was as beautiful in person as it was in the images.

 

I mentioned to the dealer that I was the underbidder, and that I was interested in buying the coin. From that point forward he literally would not talk to me or answer my questions, or even give me a price for the coin.

 

Did I do something ethically, morally, or etiquettely (sic) wrong by mentioning I was the underbidder of the coin, and/or I knew how much he had into it?

 

Thanks.

 

Nice coin. He probably wanted a 2x -3x markup. I have seen dealers ask outrageous money for coins that while nice, command a much lower price. I think the coin was attractive though. There will be other pieces.

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Mr.Mcknowitall

Mr.Mcknowitall

Posted
Posted
barring the mysterious Dealer/Buyer Dementia Disorder, for which there is no known cure.

 

:signfunny:

 

Every now and then, very, very rarely, I am able to crawl out from under my shell and amuse someone. I Thank You for the recognition of my useless thoughts.

 

Respectfully,

John Curlis

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cpm9ball

cpm9ball

Posted
Posted
barring the mysterious Dealer/Buyer Dementia Disorder, for which there is no known cure.

 

:signfunny:

 

Every now and then, very, very rarely, I am able to crawl out from under my shell and amuse someone. I Thank You for the recognition of my useless thoughts.

 

Respectfully,

John Curlis

 

I was thinking the same thing as JC10, but he beat me to it. I happened to make a comment once which Arch thought was funny, and now it is the tag line next to my avatar.

 

Chris

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Mr.Mcknowitall

Mr.Mcknowitall

Posted
Posted
barring the mysterious Dealer/Buyer Dementia Disorder, for which there is no known cure.

 

:signfunny:

 

Every now and then, very, very rarely, I am able to crawl out from under my shell and amuse someone. I Thank You for the recognition of my useless thoughts.

 

Respectfully,

John Curlis

 

I was thinking the same thing as JC10, but he beat me to it. I happened to make a comment once which Arch thought was funny, and now it is the tag line next to my avatar.

 

Chris

 

That is much better and certainly more cerebral and witty than my failed Henny Youngman attempt.

 

But (there is always a "but") I also humbly Thank You.

 

Respectfully,

John Curlis

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James_OldeTowne

James_OldeTowne

Posted
Posted
I didn't sense any anger, more like avoidance. He pretty much wanted me to be gone from his table.

Then he's not too bright. Who cares if a potential customer knows how much I have into a coin? And, who cares how much the markup is? I've bought many coins that I retail-priced at double, triple or more what I had into them, and I have no problem at all telling a potential client that. None! Sometimes, even I get lucky on a purchase, and that's gravy that I should have a right to.

 

Now, do I want nosy tire-kickers constantly asking me how much I paid, what my markup is, etc.? Of course not, but on an occasional basis, it doesn't bother me.

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jom

jom

Posted
Posted
Then he's not too bright. Who cares if a potential customer knows how much I have into a coin? And, who cares how much the markup is? I've bought many coins that I retail-priced at double, triple or more what I had into them, and I have no problem at all telling a potential client that. None! Sometimes, even I get lucky on a purchase, and that's gravy that I should have a right to.

 

Some buyers seem to feel that sellers can only profit so much I suppose. Remember the Mark Feld thread about the offensive offer? At the same time I've noticed that over the years coin buyers (including myself I guess) are the cheapest bast**ds around. They nitpick everything....I could tell you some stories...recently ones in fact.

 

jom

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