An interesting experience at the coin shop today

[BillJones]

I stated in an earlier post that the dealer was foolish when she refused to sell the Proof sets. She had every right to asked the guy who was pestering the initial poster to sell the Franklins to him, but she went too far when she withdrew the offer to sell the Proof sets.

 

One other thing to bear in mind about bourse dealers and VPDs. Any show promoter who is worth his salt weeds out the bad apples at his shows. The guys who steal coins; the guys who pass too many bad checks; the guys who take coins on consignment and never pay for them; the guys who knowingly sell counterfeits; the guys who knowingly sell stolen goods. All of the guys who are out to screw you get the boot from the best promoters.

 

There are no rules for VPDs. They can be anything from the most wonderful business people in the world to the guy who just got out of the state pen, has not reformed and is knowingly doing some the same stuff that got him there the first time. When you start buying coins from every Tom, or Harry, you are saying, "I'm an expert and I can filter all of the counterfeits and altered coins because chances are I will not have any recourse, and I accept that."

[johnny9434]

I wonder if there was maybe a cut to the owner of the store if a sale like that was made. it being the dealers store. or is that way out of line?

[BillJones]

I have seen people at a show slip the dealer $5 for letting them do business at their table, but a dealer at a store could not make a practice of doing that because it would undermine their business and not bring in enough revenue.

[AstroTrain]

Amazing....not sure I understand that one. I can understand her not liking business in her store, but to give you the boot???

 

Joe, the owner of a local shop, constantly has people in trying to sell him things he has no use for, and he knows I do...he offers his customers to make deals with me in store all the time, but out of respect for him, I never say a word until joe says "this is Dave, you should see if he would like to buy you ------"

[ldhair]

Amazing....not sure I understand that one. I can understand her not liking business in her store, but to give you the boot???

 

Joe, the owner of a local shop, constantly has people in trying to sell him things he has no use for, and he knows I do...he offers his customers to make deals with me in store all the time, but out of respect for him, I never say a word until joe says "this is Dave, you should see if he would like to buy you ------"

A dealer friend of mine used to do this with me when it was something he didn't want to buy. He figured the customer might spend the money in his shop.

[Houston Investor]

I would have not wanted to lose the sale. I think she shot herself in the foot on that.

 

In terms of your Franklin Set many dealers would make an offer based on CDN Bid which is $650 for a BU set (your set may be worth much more). She seems inexperienced. An experienced dealer would take a look at your set and then make an offer based on both CDN Bid and what he feels he could sell it for. He might ask you what you want for it before considering making an offer. If what your wanting is way too much in what he is willing to pay, then he would simply pass. Without looking at your set, I have no idea what a fair offer would be on it.

 

 

[CSdot]

As soon as the dealer snatched the coins back and said they are no longer for sale, I would have turned towards the interested buyer and said, "In that case, let's walk over to the restaurant next door and discuss which of these Franklins you might be interested in purchasing."

 

I think the rude dealer lost whatever courtesy not to discuss business in her store the second she indicated the dealer-customer relationship between you and her was over. She (not you) made the decision to terminate the dealer-customer relationship, so you are free to conduct business with whomever you chose.

 

Those who think you were in the wrong, or that you owe this dealer a consignment fee, are fooling themselves. Based on the facts as you have explained them, this dealer has no legal claim to 10% of your sale price (as someone said) just because you met a buyer in their store.

 

I do agree that you should complete your business somewhere else absent dealer approval. Additionally, for bourse situations, the VPD or attendee for that matter, should wait until the seller walks away from the rejecting dealer's table before making the better offer. Dealers would do well to remember that a show is no value to anyone if the customers do not feel that it is worth their effort to attend. A customer whose experience with the coin show is being low balled by a greedy dealer may not come back next year. However a customer who feels he got a fair deal, either from (1) the original dealer or (2) from the patron who overheard and gave a fair deal, will likely come back.

[Mr.Mcknowitall]

As soon as the dealer snatched the coins back and said they are no longer for sale, I would have turned towards the interested buyer and said, "In that case, let's walk over to the restaurant next door and discuss which of these Franklins you might be interested in purchasing."

 

I think the rude dealer lost whatever courtesy not to discuss business in her store the second she indicated the dealer-customer relationship between you and her was over. She (not you) made the decision to terminate the dealer-customer relationship, so you are free to conduct business with whomever you chose.

 

Those who think you were in the wrong, or that you owe this dealer a consignment fee, are fooling themselves. Based on the facts as you have explained them, this dealer has no legal claim to 10% of your sale price (as someone said) just because you met a buyer in their store.

 

I do agree that you should complete your business somewhere else absent dealer approval. Additionally, for bourse situations, the VPD or attendee for that matter, should wait until the seller walks away from the rejecting dealer's table before making the better offer. Dealers would do well to remember that a show is no value to anyone if the customers do not feel that it is worth their effort to attend. A customer whose experience with the coin show is being low balled by a greedy dealer may not come back next year. However a customer who feels he got a fair deal, either from (1) the original dealer or (2) from the patron who overheard and gave a fair deal, will likely come back.

 

Speed reading Posts usually causes misinterpretation.

 

Nobody stated that there was a legal obligation to pay 10%, and/or that the 10% was due because the seller met the buyer in the store.

 

As with the view you express about VPDs, and/or Dealers at Shows, the issue is courtesy and manners.

 

It also helps when Dealers can feel Customers are being courteous and can recognize a fair deal when offered (which is not the same as what may be wanted by the Customer, but is still fair), and will discuss the deal with the Dealer, and not the VPD. There are honorable VPDs/Dealers/Customers, and there are less than honorable VPDs/Dealers/Customers. I find it easy to identify the honorable individuals. They are usually genuinely courteous and helpful, and recognize on their own what is right and what is wrong.

[Walkerfan]

I feel that it was ridiculous that she blamed you, as you were trying to be respectful of her shop, by trying to ignore the guy who was trying to buy your coins. If anyone should have been thrown out, it should have been the pestering potential buyer. The PROPER thing for her to have done would have been to simply warn the both of you. It was dumb for her to kick you out and even DUMBER to not do business with you on the proof sets.

 

All the B&Ms near me are pitiful and the biggest and best one never has anything I'm looking for besides esoteric dates. He has my want list but I never hear from him, as he doesn't find what I'm looking for, and he travels to all of the major shows. The only reason I even enjoy going in there is to drink coffee and BS with him! I DO enjoy doing that. I've bought a few common dates from him just as a show of goodwill, in the past. I also enjoy getting his opinions on things from time to time, b/c he does know his stuff. I DO LIKE going there to sell to him, though, b/c he buys EVERYTHING and doesn't just pick over the nicer pieces.

 

As for shows---I go there to sell to the dealers---I usually have to shop around for the best deal. I rarely find anything that I want to buy but it does happen. I have never run into attendees who are willing to buy from me at better prices than the dealers. I find that many of them are tire-kickers, anyway. I KNOW there are people out there, at the shows, who DO have the money---THAT'S FOR SURE and who want what I am selling for a real good price. I just have never run into them. I would NOT do a deal, in front of a dealers table, even if I did----that is disrespectful and YES it hurts the dealer.