A lot of discussions about lowballers going on this forum. I think its generally accepted for quite some time on this forum that spot is the floor. If lowballers want to haggle, there is no shortage of dealers prepared to take it off your hands at spot. I am a dealer, I go shopping every week to restock my inventory and I can't remember the last time I managed to buy anything below spot.
I have 3 Dealers (including CK ) within 15 min from me Why would I sell something to somebody here for less Now let me see OOHH & 2 of them buy me lunch ,most of the time Now why would I accept a bank transfer & deal with postage for less
Well spot is floor for .999 surely, but other stuff like $10 coins and pre-dec could go below spot $1350 for 1oz Gold when spot is $1750 is no go though :lol:
NO McDRAC (" drac " Yiddish for crap ) for me Full plate & wine/beer ,good restaurant food in Melbourne town The lunch bill generally blows out any profit they would make on the deal ,but I hardly sell to my dealers these days
Come on your a nice bloke ,do me a favour this time at $1350 And next time I'll make you you millions
Thanks for jogging my memory. I am happy to pay spot for carded $10 or the $5 RAM Masterpiece series anyday. Have lowballed sellers on 50% pre decimals (paid up to $2 below spot on occasions) but since I usually only sell this stuff for a fraction above spot, I think its fair.
When the time comes, I will be on a plane to Melbourne or Sydney. Someone has a buyer strangle hold on Hobartians. In fact really only 1 face to face shop in Tassie.
Sellers could also help the situation - often they leave themselves wide open with "make me an offer" requests and no indication at all as to their expectations. Simply put a note in your selling thread that "offers below spot will not be entertained", "this item is numismatic and carries a premium to spot", or simply "Price is firm, no offers" etc.
I also think the product has a lot to do with it and lets face it this is a site where everyone wants a bargain but wants to sell it at the highest (fair) price they can. I find that pre-decimal is not moving unless under spot. If I could be bothered I would make a lot more on e...bay even after fees, round 50's are pushing a mental barrier I believe at the moment when a lot of people are scarred at spending the dollars for these. Yet again e...bay would command a higher price easily. Or is it a case of people waiting to see what spot is doing or they have no money (can't be everyone) or saving for Dragons (I think this covers a few) or am I just impatient and expect these deals to sell quickly ??? I like a lot are finding it harder to sell cheap priced silver, round 50's should be at least face value on spot I would have thought closer to a dollar on spot was the usual going rate. These days everyone wants it at spot or even below.
The way I work is always - what would I offer for this face to face? If someone offered me such an insulting price as Yippee put it - the only physical they'd get from me is a backhander to the chops... If it is 'junk silver' (post dec in particular) then I don't mind chipping someone under spot. Premiums are the negotiable factor here. Everyone watches the market here - we know what decent going rates are. There's cutting a deal, and then there's LOWBALLING.
Last week I walked over a gold exchange counter in the shopping center, just out of my curiousity I asked how much they would exchange for an 1 ounce .9999 gold, was told that they will do for $12xx. They automatically moved into my block list, no way that I would have a deal with them!!!
They deal with the general public though. People who don't even know what a 'spot price' is. They also have larger retail overheads, as they're paying people in hourly wages, and also have to pay massive rent to the Westfield's they're usually in.
The antique shop next to where i often have a sunday morning breakfast was selling had available round 50's for $30ea on the weekend. Cop that for a premium.
Well talk about thieves I just walked into a crimeconverters They are paying $9 a gm for 9k $24gm for 24k They had a 9k mens bracelet 24gm $940 I got them down to $640 I offered $550 tops
