A Lesson Learned or Perhaps Just Sour Grapes?

[James_OldeTowne]

I have had one $100 transaction with ant that went perfectly.

[rbrown4]

I want everyone to know that at no time did I mean to insinuate that I was worried about receiving payment from Ant, he communicated to me he was late and that it would be sent, I had no reason to doubt that. What disturbed me, was that the coin was up for sale prior to the receipt of money. Several of you have mentioned and I do admit that I agree with you, once a coin is sold the buyer has the right to do as they please with that. I understand that. I also did not intend for any individual to be identified, but Ant did stand up and explain and I as others here respect that.

 

Ant has sent the money as well as offered to pay more than our agreed upon price as well as throw in a gift, in addition he has pulled the coin off of auction. I have communicated to him that none of that was necessary. He has also indicated the coin will go in his type set.

 

Ant, please do what you really need to do with the coin and your generous gesture on the payment/gift are much appreciated. (Don't be surprised though to see another package in your mail.) We agreed on a price and I will stand by it.

 

Rey

[DirtyGoldMan]

I wonder if any dealer has ever sold a coin at a show only to have the buyer return and give the dealer a "kickback" on a quick profit?

I have a story that is close. I purchased a half dime from Mark Feld (last year?) and before the coin was in-hand, posted a photo ATS. A fellow collector, representing an advanced collector of the series, PMed me that his friend was very interested in the coin, and how much did I want for it.

 

At first, I tried to blow him off, but he was persistent and made me give him a price. IIRC, I picked a price about 40% more than was quoted to me by Mark, and he agreed. The coin arrived, it was very nice, I promptly shipped the coin to the agent for the collector, etc.

 

I kept Mark informed of what was going on and split the profit with him 50%.

 

(And after all that, I cannot get him to ever pick up the check at dinner. )

[MarkFeld]

I wonder if any dealer has ever sold a coin at a show only to have the buyer return and give the dealer a "kickback" on a quick profit?

I have a story that is close. I purchased a half dime from Mark Feld (last year?) and before the coin was in-hand, posted a photo ATS. A fellow collector, representing an advanced collector of the series, PMed me that his friend was very interested in the coin, and how much did I want for it.

 

At first, I tried to blow him off, but he was persistent and made me give him a price. IIRC, I picked a price about 40% more than was quoted to me by Mark, and he agreed. The coin arrived, it was very nice, I promptly shipped the coin to the agent for the collector, etc.

 

I kept Mark informed of what was going on and split the profit with him 50%.

 

(And after all that, I cannot get him to ever pick up the check at dinner. )

And MOST of that is even true

 

Edited to add: By the way, Robert had no obligation, whatsoever, to pay any additional money to me - that was extremely generous of him.

[DirtyGoldMan]

I wonder if any dealer has ever sold a coin at a show only to have the buyer return and give the dealer a "kickback" on a quick profit?

I have a story that is close. I purchased a half dime from Mark Feld (last year?) and before the coin was in-hand, posted a photo ATS. A fellow collector, representing an advanced collector of the series, PMed me that his friend was very interested in the coin, and how much did I want for it.

 

At first, I tried to blow him off, but he was persistent and made me give him a price. IIRC, I picked a price about 40% more than was quoted to me by Mark, and he agreed. The coin arrived, it was very nice, I promptly shipped the coin to the agent for the collector, etc.

 

I kept Mark informed of what was going on and split the profit with him 50%.

 

(And after all that, I cannot get him to ever pick up the check at dinner. )

And MOST of that is even true

 

Edited to add: By the way, Robert had no obligation, whatsoever, to pay any additional money to me - that was extremely generous of him.

 

In fairness to Mark, he does offer to buy dinner, but I have thus far been able to steal the check when he's not looking. ("Look over there! A UFO!" )

[DirtyGoldMan]

I have tweaked Mark Feld, but I have not replied to the scenario of the OP.

 

1. If a fellow collector purchased a coin from me at an advantageous price, under the guise of adding it to his collection, and turned immediately to sell it on ebay, that would be the last transaction between us.

 

2. As far as I am concerned, someone who has the wherewithal to get a coin for sale up on ebay but not to pay for it first is not someone with whom I would choose to do business. To me, that is unacceptable.

 

1+2 = RYK ain't doin' any no biz with ant

[ant]

[Coin]

(thumbs u

 

Okay Ant , your 'mud-pie' is lifted as per Rey's okie-dokie .

 

[ant]

[BULLY]

I have two separate thoughts, one of which is a question, on the situation:

 

1. I concur with the majority who agree that regardless of to whom you are selling, never ship a coin without cleared payment up front. I think the only exception as some mentioned are long time customers, customers with whom you may have done business for years and have a proven, reliable payment track record with YOU.

 

I realize, however, this does not help with the situation at hand, and really just probably feels like it's rubbing salt in the wound. However, for future situations, skepticism is probably safest, for your own monetary security.

 

2. To the subject of your sour grapes, I am trying to read between the lines a little. IF you HAD received your payment, would you STILL be bothered that this buyer of yours was already selling the coin on eBay? Or is the nerve raw only because you haven't received payment?

 

I ask because in reading your post, I get the impression that you are a little more bothered by the fact that you felt misled, and that the buyer appears to have fully intended to re-sell the coin, rather than keep it him/herself.

 

I also ask because as a collector, and as someone who has occasionally made what might be considered "odd" purchases, such as large quantities of the same item, I've actually had a seller come right out and ask me if I intended to re-sell them. I've ended up doing business with this seller for a couple of years now, and I have yet to sell a single thing on eBay or elsewhere.

 

I am what I have heard called a "collector/investor." I am a collector who also likes to think that his collection will be more valuable someday. So, occasionally, when I can get good prices on things, I will buy large quantities of something, or "lots" of a particular coin, knowing that "someday" I might be able to sell them for a significantly higher price.

 

In that case, my answer to the seller was honest, I had no intention of selling the coins any time soon, but that someday, I may very well do so, though that "someday" may be a month, a year, or ten years or more away.

 

I wonder if he too felt uncomfortable selling lots of coins if I was another dealer, and if I was only going to re-sell the items perhaps individually at higher prices?

 

Therefore, I return to my original question to you. Are you more bothered by the lack of payment, or the fact that the buyer turned around to re-sell the item rather than keeping it, making you feel misled?

 

Mike B.

[rbrown4]

Mike,

 

You raise very good legitimate points. I tried to explain and/or clarify my original intentions. I was not at any time thinking that I would not receive payment, I was told that it was overlooked and it would be on it's way, I had no reason to not believe that. I admit, it did hit me wrong that I saw the coin on ebay, posted two days prior to me being notified about the late payment forthcoming. I do not disagree that it is a buyer's option to do what they wish with a coin once it is theirs. I perhaps included too much emotion in my initial reaction. Fact is that I wanted to sell the coin since I no longer needed or wanted it in my collection.

 

It just rubbed me the wrong way a bit.

 

Thanks,

 

Rey

[rbrown4]

Alls well that ends well.

 

Received payment today as well as a very kind gesture with a PCGS 1957 Lincoln PF 66 RD, which was totally unneccessary. I will return the favor in some way.

 

Ant, thank you.

 

Rey

 

[ant]

in my mind it was neccessary! thank you once again.

[harvey8542]

[physics-fan3.14]

:thumbsup: