Dealers - what can you report?

Big A.D. said:
renovator said:
Big A.D. said:
"In stock" and "In stock and available for immediate delivery" are two different things.
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I disagree bigad . If its in stock its in stock on the shelf Available is not in stock
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I'm going by the accounting standards used in pretty much all of the businesses I've ever worked in.

For example, I have one company that has manufacturing done in Wollongong and a warehouse in Sydney. An item that has just rolled off the line in Wollongong is "in stock" because the item exists, we own it and we're in control of where it is and where it goes. That's just normal accounting practices. Items stored in the warehouse in Sydney are available for immediate delivery but we'll still sell the item in Wollongong, knowing that it's at some stage in the transport pipeline and it will arrive in Sydney as quickly as the logistics people can get it there.

Should we also have an availability category that says "Available for almost immediate delivery because our driver will probably need to stop and have some lunch on the way to your place"?
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sydney to wollongong is a bit different to the other side of the world one is a couple of hours the other is weeks . Umm just a little different .
 
A certian bullion/coin dealer I have done business with in the very recent past seems to think they can make up their own spot price now, I used to notice their spot price during standard trading hours of their store front would be between 4-12c above the goldprice.org spot, after the standard trading hours they seem to hedge against small market fluctuations by raising their $AU spot to around 20-25c above normal spot.

However since silver dropped under $23AU/oz they have fabricated a silver spot price 80c above that of the goldprice.org spot. Infact right now their $AU spot is actually higher than their $US spot....

I am pretty new to the precious metal game, so if that is standard procedure for a lot of dealers disregard this, I just thought it was slighly obnoxious to set their own spot. Charging a premium is one thing but playing god is another, I realise they are both practically one in the same given the final outcome, but its the path they took to get there that I guess turns me off a little.
 
Big A.D. said:
Aurora et luna said:
When it is less than 2 hours from the manufacturing facility to the warehouse I would be happy with that sort of accounting standard :)
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And would you be prepared to pay 50% more for the product so we can redesign our entire supply chain procedure and then pay someone to sit around counting everything over and over again and calling you to let you know how they're going with it?
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We are obviously on different pages.
I am taking about the very basic courtesy of giving your potential customer some additional information for them to make an informed decision on whether to buy from you or your competitors.
It's not rocket science to add a little detail on the product description such as "delivery might be delayed for up to 4 weeks"
 
"In stock" to me means that I can walk in to your store and pick it up and take it immediately assuming you do not have a holding warehouse.
"Available" is anything that is on your website. Everything on your site that you sell is available to buy, hence it is available for purchase. Whether you have stock or not is another thing. Anything that you do not sell should not be on your site or should be clearly marked as "Not Available" or "Sold Out".

If someone states that that have stock of something then I think it needs to be at their place of business (or warehouse if they have one). Stock pending delivery should never be counted. Imagine if I went to Myers and asked about a shirt and was told there were 10 in stock only to find out after searching the store that the 10 were coming in next week. Yes sir they are in stock, they simply are not here yet!
 
Harrisball said:
A certian bullion/coin dealer I have done business with in the very recent past seems to think they can make up their own spot price now, I used to notice their spot price during standard trading hours of their store front would be between 4-12c above the goldprice.org spot, after the standard trading hours they seem to hedge against small market fluctuations by raising their $AU spot to around 20-25c above normal spot.

However since silver dropped under $23AU/oz they have fabricated a silver spot price 80c above that of the goldprice.org spot. Infact right now their $AU spot is actually higher than their $US spot....

I am pretty new to the precious metal game, so if that is standard procedure for a lot of dealers disregard this, I just thought it was slighly obnoxious to set their own spot. Charging a premium is one thing but playing god is another, I realise they are both practically one in the same given the final outcome, but its the path they took to get there that I guess turns me off a little.
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A certain bullion/coin dealer in Western Australia sets their own spot price ... OMG! Their spot price is currently 54c above the goldprice.org spot price :o You might like to read about how and why they set their own spot price here ...

http://www.perthmintbullion.com/au/...nt_Gold_And_Silver_Spot_Rates_Calculated.aspx
 
We classify "IN STOCK" as "ON HAND" ready for immediate pick up or delivery. We are and always quite open if were are ORDERING stock in, Group buy etc etc.
 
Ok if the issue is about only advertising stock that is physically on hand
What is the consensus on sites like WDavis that list buy and sell prices on coins and bars?
I'm sure there has been times when they don't have the stock for which there is a sell price advertised. I know this from personal experience.
These prices quoted are very competitive and fellow stackers (including myself on the odd occasion) often use these as a comparative sell price, is that fair?
Cheers
Alfie
 
Alfie said:
Ok if the issue is about only advertising stock that is physically on hand
What is the consensus on sites like WDavis that list buy and sell prices on coins and bars?
I'm sure there has been times when they don't have the stock for which there is a sell price advertised. I know this from personal experience.
These prices quoted are very competitive and fellow stackers (including myself on the odd occasion) often use these as a comparative sell price, is that fair?
Cheers
Alfie
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That's only his buy/sell list
NOT what's in stock , his stock changes daily
 
Big A.D. said:
For example, I have one company that has manufacturing done in Wollongong and a warehouse in Sydney. An item that has just rolled off the line in Wollongong is "in stock" because the item exists, we own it and we're in control of where it is and where it goes.
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Poor example, you're not comparing oranges with oranges here. You already changed the comparison whereby you own the item as you're in control of the manufacturing line, the supply chain and the point of sale. These dealers are not in control of the manufacturing or the supply chain, therefor unlike your situation the item may not actually exist yet, they're not in control of it and do not have it in their control until it arrives to them physically.


Big A.D. said:
That's just normal accounting practices.
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No, it's just a normal supply chain moving widgets from point of manufacture to point of sale with you owning and controlling the process.


Big A.D. said:
Should we also have an availability category that says "Available for almost immediate delivery because our driver will probably need to stop and have some lunch on the way to your place"?
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If it's going to take your driver 4 weeks to eat his lunch then yes at the very least have an availability category ;)


Many many many moons ago when I used to manage a purchasing and warranty dept our stock control software displayed "in stock," "available" or "out of stock." There was either a quantity value if it was "in stock" or a lead time value if it was "available." However at no point did we advertise products in 3rd party warehouses as "in stock," it was marked as "available" with a lead time next to it. Good luck doing a 140mil+ stocktake in a warehouse if your stock control software is showing items as "in stock" which you physically don't have on the floor in any of your own warehouses ;)

I guess from my personal point of view to me "in stock" means physically there and ready to be dispatched to the customer, and if you asked the majority of people whom shop online or even in person would agree with this interpretation of "in stock." With silver the product is different, the principle of purchasing is the same.
 
Harrisball said:
A certian bullion/coin dealer I have done business with in the very recent past seems to think they can make up their own spot price now, I used to notice their spot price during standard trading hours of their store front would be between 4-12c above the goldprice.org spot, after the standard trading hours they seem to hedge against small market fluctuations by raising their $AU spot to around 20-25c above normal spot.

However since silver dropped under $23AU/oz they have fabricated a silver spot price 80c above that of the goldprice.org spot. Infact right now their $AU spot is actually higher than their $US spot....

I am pretty new to the precious metal game, so if that is standard procedure for a lot of dealers disregard this, I just thought it was slighly obnoxious to set their own spot. Charging a premium is one thing but playing god is another, I realise they are both practically one in the same given the final outcome, but its the path they took to get there that I guess turns me off a little.
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Playing god?
I would rather say that they make their own local price mechanism, based on own situation, which I see as their right.
This is also a temporary phenomenon, once they sold their stock and can buy at the lower prices, they will adapt to them.
I saw this happening in 2011 too. It's something to expect, in a market with big pumpers and big dumpers, resulting in extreme price fluctuations.
 
I realise it isn't accompanied but a surge in the price, and it is probably not widespread retail buying, but the sort of media reports we're currently seeing was one of the factors on my list as a sign to sell rather than buy - i.e. long waits and lines "around the block", delayed shipments, mainstream media reports etc.
 
That's only his buy/sell list
NOT what's in stock , his stock changes daily
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Sorry Spannermonkey, I don't get what you are trying to convey
Surely his buy/sell list would be what he has in stock?
Logic dictates if he didn't have it in stock there would not be a "suggested" sale price or, alternatively the "suggested" price given in "red" to indicate not currently in stock?
Cheers
Bazza
 
Alfie said:
That's only his buy/sell list
NOT what's in stock , his stock changes daily
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Sorry Spannermonkey, I don't get what you are trying to convey
Surely his buy/sell list would be what he has in stock?
Logic dictates if he didn't have it in stock there would not be a "suggested" sale price or, alternatively the "suggested" price given in "red" to indicate not currently in stock?
Cheers
Bazza
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NO
That list you see with prices HAS NOTHING TO DO with what he has in stock
Maybe that's your logic but it's NOT Peter's
He doesn't have the time to update what he has for sale each day
What most people don't realise is
It's a one man operation :rolleyes:
He runs it his own way & don't waste your breath on trying to tell him otherwise
:)
 
Spannermonkey
Firstly, I am not telling HIM how to run his one man business!
I am telling YOU, its misleading especially given many people use these "prices" as a basis of current value because he may or may not have them in stock
Surely you understand this logic spannermonkey?
Does anyone else have an opinion on this?
 
Alfie said:
Spannermonkey
Firstly, I am not telling HIM how to run his one man business!
I am telling YOU, its misleading especially given many people use these "prices" as a basis of current value because he may or may not have them in stock
Surely you understand this logic spannermonkey?
Does anyone else have an opinion on this?
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I agree with you. If you don't have the stock then don't advertise what you'd sell it for, it is misleading if you have no idea how he operates.
If I were him I'd make changes, his business model scares me off, especially considering there are dealers very close by with coherent websites.

But hey, obviously works well for him so maybe we're not his target audience.
 
Alfie said:
Spannermonkey
Firstly, I am not telling HIM how to run his one man business!
I am telling YOU, its misleading especially given many people use these "prices" as a basis of current value because he may or may not have them in stock
Surely you understand this logic spannermonkey?
Does anyone else have an opinion on this?
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As spanner says it is a price list, not a stock list

I don't think there is anything misleading as you cannot order online only in person
The stock literally can change by the minute
There is no online system to update stock on hand
 
Hi Trew
I get the difference between a stock list and a price list, my question is about the validity of other people using his sell price as a basis of current value when he may or may not have the actual item in stock
Is this misleading?
 
Alfie said:
Spannermonkey
Firstly, I am not telling HIM how to run his one man business!
I am telling YOU, its misleading especially given many people use these "prices" as a basis of current value because he may or may not have them in stock
Surely you understand this logic spannermonkey?
Does anyone else have an opinion on this?
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Alfie, I used to wonder why some of my Melbourne customers wanted me to sell them kilo bars and gold coins as quoted on that site. With the extra cost of shipping it didn't make any sense when you can just walk in to the shop and buy it cheaper.
After a few of these unprofitable trades, the penny dropped and I realized it is buy/sell list and had nothing to do with availability.
Just set what you think is a fair price and forget about other dealer's buy/sell lists.
Peter offers the minimum of spot for gold and silver buybacks unlike some other dealers who are still gouging their customer with below spot buyback prices
There is absolutely no justification for offering below spot prices when you are lucky to get 1 customer who is prepared to sell and 99 who wants to buy.
 
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