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who here hates a lowballer?

56 posts in this topic

So I am selling off some coins.......

I have a 1909-S VDB wheat penny for sale. Its graded XF45 by PCGS.

I believe it is very attractive. A nice chocolaty brown color with great surface, no real noticeable marks to the naked eye.

I would say closer to AU.

Anyway, I have it up for a fair price and even allow buyers to make an offer that's reasonable.

So this guys sends me an offer that is less than half of my asking price! Its not like its damaged! You can't even buy an AG for what he offered........

Am I being silly or what everyone?

Any experiences like that?

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What was the offer? What was your asking price? Do you have images of the coin? Price guides can be wrong; however, if the prospective buyer is paying a small fraction of dealer wholesale, then I would definitely call it a low ball offer. I would just ignore the offer and would not allow it to bother me.

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So I am selling off some coins.......

I have a 1909-S VDB wheat penny for sale. Its graded XF45 by PCGS.

I believe it is very attractive. A nice chocolaty brown color with great surface, no real noticeable marks to the naked eye.

I would say closer to AU.

Anyway, I have it up for a fair price and even allow buyers to make an offer that's reasonable.

So this guys sends me an offer that is less than half of my asking price! Its not like its damaged! You can't even buy an AG for what he offered........

Am I being silly or what everyone?

Any experiences like that?

 

Since you're the owner of the coin, the odds of your being objective aren't very good. That goes for other owners of coins (and/or whatever objects they have for sale), as well.

 

And you didn't state what your asking price was or what the other party offered. Without that additional information, I'm not prepared to pile on the "lowballer". ;)

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Markfeld- let's just pretend you have an $1150-$1200 coin and I offer you $500......?

I may not have your experience in the field, but would you consider that a "low ball?"

I can go to the local coin shop and get $850 if I were that hard up.......

 

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When I set a BIN with make an offer I always set up the auto-decline so that offers I deem too low get automatically kicked back. I get ridiculous offers as well on my BINs and I believe a lot of coin buyers go to Ebay to bottom feed and find the best deals they can regardless of the quality of the coin. Nothing wrong with that and those type of bidders rarely buy or win coins I am selling because usually the coins I sell don't go for well below market value. If they do catch one here or there then good for them lol

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Markfeld- let's just pretend you have an $1150-$1200 coin and I offer you $500......?

I may not have your experience in the field, but would you consider that a "low ball?"

I can go to the local coin shop and get $850 if I were that hard up.......

 

A "$1150-$1200 coin" based on what? Sight unseen bids? CDN? Average auction price for that grade? Asking price of the seller? Other?

 

What were you asking on your coin and what were you offered?

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When I set a BIN with make an offer I always set up the auto-decline so that offers I deem too low get automatically kicked back. I get ridiculous offers as well on my BINs and I believe a lot of coin buyers go to Ebay to bottom feed and find the best deals they can regardless of the quality of the coin. Nothing wrong with that and those type of bidders rarely buy or win coins I am selling because usually the coins I sell don't go for well below market value. If they do catch one here or there then good for them lol
(thumbs u
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Is there a link to this listing?

 

The current listings that I see on Ebay are being offered at $1250 and higher.

 

The last couple of non-Ebay examples for which I could find sales, brought an average of about $925 each.

 

And under Ebay's completed items, I see sales at levels between $915 and $1391, but with more sales at the lower end of the range, and one that went unsold at $950.

 

The above tells me that the coins currently listed for sale are possibly or likely priced above current market value.

 

 

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The coin is in a PCGS XF 45 holder. It's actual value is approximately $1000.

Even if the demand for that coin is weak, as an emergency sale at the local coin shop getting $850 In my opinion is a fair price for all.

 

Because it's in a PCGS XF 45 holder there are any number of bidders that will buy that coin for $850 and up in an online auction, I'll guarantee that.

 

An offer of $500 is clearly a lowball offer where the bidder is just trying to take advantage. I would summarily dismiss these insulting offers if i were you, but I'd never put up a coin on E-Bay as BIN, it would sit in inventory forever because there are 20 bottom feeders for every one serious buyer trolling those boards.

 

I post coins at or near their actual worth, if they get bought, fine, if not, fine.

 

Much less frustrating.

 

 

 

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The coin is in a PCGS XF 45 holder. It's actual value is approximately $1000.

Even if the demand for that coin is weak, as an emergency sale at the local coin shop getting $850 In my opinion is a fair price for all.

 

Because it's in a PCGS XF 45 holder there are any number of bidders that will buy that coin for $850 and up in an online auction, I'll guarantee that.

 

An offer of $500 is clearly a lowball offer where the bidder is just trying to take advantage. I would summarily dismiss these insulting offers if i were you, but I'd never put up a coin on E-Bay as BIN, it would sit in inventory forever because there are 20 bottom feeders for every one serious buyer trolling those boards.

 

I post coins at or near their actual worth, if they get bought, fine, if not, fine.

 

Much less frustrating.

 

 

 

I would agree that a $500.00 offer, based upon the current market research data provided is a lowball offer. Again, there are tools that the OP can apply to restrict offers within a given price range and they should make use of those tools. It will eliminate any potentiality of insulting offers as this one apparently was to the OP.

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The coin is in a PCGS XF 45 holder. It's actual value is approximately $1000.

Even if the demand for that coin is weak, as an emergency sale at the local coin shop getting $850 In my opinion is a fair price for all.

 

Because it's in a PCGS XF 45 holder there are any number of bidders that will buy that coin for $850 and up in an online auction, I'll guarantee that.

 

An offer of $500 is clearly a lowball offer where the bidder is just trying to take advantage. I would summarily dismiss these insulting offers if i were you, but I'd never put up a coin on E-Bay as BIN, it would sit in inventory forever because there are 20 bottom feeders for every one serious buyer trolling those boards.

 

I post coins at or near their actual worth, if they get bought, fine, if not, fine.

 

Much less frustrating.

 

 

 

I would agree that a $500.00 offer, based upon the current market research data provided is a lowball offer. Again, there are tools that the OP can apply to restrict offers within a given price range and they should make use of those tools. It will eliminate any potentiality of insulting offers as this one apparently was to the OP.

 

If an offer of $500 was made, I agree that it was a lowball offer.

 

But that's because the offer was very low compared to a general current fair market price, not (necessarily) because it was low relative to a particular listed price. I have seen many lisitngs where an offer of less than half the listed price was still a reasonable/fair offer.

 

Just for fun, for the coin in question, below what price level do you folks think an offer would become a "lowball" one? My answer would be anything below approximately $800, but perhaps I could be swayed. ;)

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Wow.. who cares what the offer was. Was he trying to "lowball" you or is it his budget only allows $500 to be spent on a coin? As everybody stated, set up your auto decline and drive on. There is no need to make a big issue of it.

 

Its Ebay.. home of "price gougers" and "lowballers" with a small population of genuine sellers and buyers.

 

Have you posted your coin here in the moneymarket place?

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To settle all the dispute, I already declined and pulled it because I'm going to have it reslabbed by NGC because I know its a great coin. The pictures don't show it because the previous owner didn't take care of the slab and has a lot of scratches and scuffs. Therefore I couldn't show the coin well.

I am going to keep it too. I bought it when Lincoln was hot and now would have to take a loss, and am no longer willing to. I'll just wait 20 years.......hmmmm

I appreciate the interesting feedback even though it wasn't meant to stir that way. I was hoping for some fun stories but I guess this group isn't into that.....

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To settle all the dispute, I already declined and pulled it because I'm going to have it reslabbed by NGC because I know its a great coin. The pictures don't show it because the previous owner didn't take care of the slab and has a lot of scratches and scuffs. Therefore I couldn't show the coin well.

I am going to keep it too. I bought it when Lincoln was hot and now would have to take a loss, and am no longer willing to. I'll just wait 20 years.......hmmmm

I appreciate the interesting feedback even though it wasn't meant to stir that way. I was hoping for some fun stories but I guess this group isn't into that.....

 

If you have any interest, I would suggest you contact the Penny Lady and discuss the coin. I'm very confident that she would be helpful to you at some level.

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I get it all the time on Craigslist. They'll offer me a lower price without even having seen the item, or try to trade me some random . Or they'll show up for a minor item saying they thought it was free and made a mistake, and sorry, didn't bring money. So cheesy.

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i had a coin for sale on ebay at $174.95 OBO, which i felt was a fair price and i would let it go for 10%-15% below that BIN.

i got one offer for $31, and one for $45. that's a lowball, and it happens on ebay all the time.

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To settle all the dispute, I already declined and pulled it because I'm going to have it reslabbed by NGC because I know its a great coin.

 

I wouldn't raise the amount of money you have in it/your bottom line by crossing it. I think you could dispose of it. PM forthcoming.

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Using PCGS Coinfacts search engine, the following sales were reported for XF45 1909-S VDB Lincoln Cents:

 

PCGS Certified Coins (Average of Last Five Reported Values): $949.40

NGC Certified Coins (Average of Last Five Reported Values): $910.40

Overall Average of Reported Values: $929.90

 

 

Data:

 

PCGS Certified Coins

05/13 Teletrade $969.00

04/13 EBay $976.00

03/13 EBay $1,036.00

03/13 EBay $920.00

03/13 EBay $846.00

----------------------------------

$949.40 (Average)

 

NGC Certified Coins

03/13 Heritage $987.00

11/13 Heritage $852.00

11/12 Heritage $881.00

10/12 Heritage $881.00

03/12 TT $951.00

---------------------------------

$910.40 (Average)

 

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Just ignore it.

 

This. Why get all bent out of shape over what someone offers? Who cares? You ain't gonna sell it at that price so just ignore it.

 

In my case, I take all offers...and obviously just decline the offers that are too low or whatever. What's the big deal?

 

jom

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I get them all the time online and from my table at shows.

 

I just enjoy them for their entertainment value. Hopefully I have developed an immunity to getting steamed from someone at a show or online. On ebay, I simply set the computer to auto decline offers which are unacceptable. If I do get an email with an offer (non BIN / Make Offer item) I simply tell them that unless the item is BIN / Make offer, its already at my best price. At a show if someone makes a low ball offer or quotes wholesale bid (I have had them even pull out a bluesheet), I ask them if they have one they will sell me at that.

 

I believe some of these fellows sound out mass emails hoping to get a bite on whatever it is. I got one the other day from a guy how his offer was above CDN Ask (just a couple of dollars over). He probably has an excel templet where he can insert his offer number then copy and paste......

 

If they are getting to you (and you want to get their goat) then say something like this "The coin is priced at $xx which is per xyz coins price list. Its a mail order price, a really super deal and my shipping to you is free (they would charge your $x, to ship and theirs is a sight unseen transaction); I urge you to take it as the market is hot on these." Set up an excel template and you can reply to every one who sends you a low ball offer - feed them some of their own medicine.

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I used to get upset when people made lowball offers on numismatic material that is generally tough to find in nice condition, get graded, etc.. On ebay it may work to your advantage if other potential buyers do not know what the low ball offers have been, just that there has been interest.

 

For trade experts to ask "how much do you want for that?" with less knowledgeable customers is unethical. For them to use the critical analysis when buying and then use a slick sales program when selling is also not right.

 

Market analysis has become a refined art and I foresee the day when sellers will be adept at knowing what their inherited or other collectibles are worth with increasingly powerful and affordable technologies.

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I used to get upset when people made lowball offers on numismatic material that is generally tough to find in nice condition, get graded, etc.. On ebay it may work to your advantage if other potential buyers do not know what the low ball offers have been, just that there has been interest.

 

For trade experts to ask "how much do you want for that?" with less knowledgeable customers is unethical. For them to use the critical analysis when buying and then use a slick sales program when selling is also not right.

 

Market analysis has become a refined art and I foresee the day when sellers will be adept at knowing what their inherited or other collectibles are worth with increasingly powerful and affordable technologies.

 

I strongly disagree that "For trade experts to ask "how much do you want for that?" with less knowledgeable customers is unethical."

 

It would, however, be unethical for the expert to mislead the customer. I also think that it would be unethical to take advantage of a customer. But to ask the question - I see nothing the least bit unethical or improper in that.

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I used to get upset when people made lowball offers on numismatic material that is generally tough to find in nice condition, get graded, etc.. On ebay it may work to your advantage if other potential buyers do not know what the low ball offers have been, just that there has been interest.

 

Actually, I think there is a trade off. On many occasions I have seen a coin with several offers, leading me to assume (perhaps incorrectly) that the seller is being unreasonable and has an unrealistic assessment of the coin's value. Once someone has a dozen offers or somewhere close or higher, I have a hard time believing every single one of them is a low ball bid. I just pass.

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