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Pipers

Prices Asked in sales

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I have been looking at the sales section on the silver forum recently.  It has become apparent to me that some are asking more for there coins  than dealers are asking for very similar coins.  I know coin collecting is a hobby, some put a very high value on there coins. 

A lot of sale threads are honest and proper. I will not be naming names so please do not ask,

 I have a sneaky suspicion some are slowly inflating  prices, listing coins over again, knowing coins have very little chance of realising anywhere near the asking price before they withdraw the listing.  Please note at this point certain coins have less of a price history than others, plus other coins have a smaller following than other coins though internationally the coin may fetch a good price (eg perth proof) the seller decides to try to sell on the site before he lists it at a Auction and have to take Auction fees.   

Also the new rules introduced  about sales do not help.   It also occurs to me that any seller would inflate their prices for the first 3 days , before the free market is introduced  and the real price can be achieved. 

There is one more point,  the above points i have not named anyone it is a general post about  my observations, i do not expect to be accused of bullying.    

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This is something that I have noticed as well. I am concerned that members of the forum who buy at some of these very inflated prices risk not being able to resell anytime soon even for the price that they pay. 

 I always think that it is good practice to leave something in a deal for the next guy  and this is not something I see being done very often.

On the other hand, people are not stupid and most people will not pay very inflated prices for coins that they see listed for sale here particularly if those coins are a higher price than they can see in eBay sold listings on the main market.

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At the end of the day members are entitled to ask whatever they want for their coins and it's up to the buyers to do their research and make sure they don't pay too much for a coin, if they do then they only have themselves to blame but as far as I am aware the members of the TSF seem to know their precious metal market quite well and unlikely to pay too much for a coin.

 

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IMHO, it's not exactly a attempt of price manipulation, but just ignorance or Greed instead!

This 2 can be the reason for the most abhorrent prices we can se some times. And normally are. Sadly Greed are more common tough!

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Maybe something that comes from experiencing the forum for a while and gaining community points & "forum friends", but i'd like to think if i put a sales post up with off kilter pricing, someone i know would send a friendly PM and let me know.

Also i wouldnt be offended with PMs with offers, as like i do, "if you dont ask you dont get". Usually i scout the auction and previous sales posts to guage my pricing so i'd like to think i'm in the right ball park when i do put up a sales post.

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1 hour ago, Pipers said:

I have been looking at the sales section on the silver forum recently.  It has become apparent to me that some are asking more for there coins  than dealers are asking for very similar coins.  I know coin collecting is a hobby, some put a very high value on there coins. 

A lot of sale threads are honest and proper. I will not be naming names so please do not ask,

 I have a sneaky suspicion some are slowly inflating  prices, listing coins over again, knowing coins have very little chance of realising anywhere near the asking price before they withdraw the listing.  Please note at this point certain coins have less of a price history than others, plus other coins have a smaller following than other coins though internationally the coin may fetch a good price (eg perth proof) the seller decides to try to sell on the site before he lists it at a Auction and have to take Auction fees.   

Also the new rules introduced  about sales do not help.   It also occurs to me that any seller would inflate their prices for the first 3 days , before the free market is introduced  and the real price can be achieved. 

There is one more point,  the above points i have not named anyone it is a general post about  my observations, i do not expect to be accused of bullying.    

Not to be rude or anything, but in a few words: it's a free market. Speaking for myself only, I will usually ponder for at least a few minutes how much I'm prepared to pay for an item or see if I can get it for a better price elsewhere. If it's of personal interest, and not investment/flipping purposes I might pay more just because I want it. I will definitely try and negotiate the price with a seller if I think it's not worth the asking price. I find it to be only normal to start with a higher price if you're after profit. It would be immoral if you corner the market, buy out the stock and then sell at an exorbitantly high price. However, if the item is indeed a popular item, I don't see the harm in the strategy you described.

All the above are my personal opinions from a buyer's perspective. 

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I'ts possible they are trying to minimise their own losses! (Just playing devils advocate)

I am thinking of starting a youtube channel specifically targeting the silver marketplace and flipping due to my own circumstances running into issues with selling.  I've been watching @Nubiestacker videos for a while because its very interesting to see the numi side of things and just before I got here I was watching @StackerNoob videos and wish I had some of that information when I started stacking but minimising losses will mean trying to get closer to what you paid.

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I think this forum is great.
Many members are well informed and prepared to do some research so when a coin or bar is listed, the more astute members know whether or not the price is fair, good or grossly inflated.
There was a very valid point made by Chris that requested no-one comments on the seller's price.

Having said that I have noted more newcomers simply using the forum to advertise their stuff.
Since there is no cost to do so, perhaps the administrators should only permit new members to list their coins on the forum after having been registered for X - months with a suggested minimum of 3 months ?

I agree when sellers list coins at over-inflated prices - i.e. "chancers" it dilutes the appeal of the forum.
Most of us are not stupid so why would a fellow member pay a higher price than that advertised by our main dealers ?

I've bought a lot of coins from the forum and there are some genuine super sellers on here so hopefully this will continue and those looking to rip-off fellow stackers may decide to give up.
 

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4 minutes ago, ram64 said:

Not to be rude or anything, but in a few words: it's a free market. Speaking for myself only, I will usually ponder for at least a few minutes how much I'm prepared to pay for an item or see if I can get it for a better price elsewhere. If it's of personal interest, and not investment/flipping purposes I might pay more just because I want it. I will definitely try and negotiate the price with a seller if I think it's not worth the asking price. I find it to be only normal to start with a higher price if you're after profit. It would be immoral if you corner the market, buy out the stock and then sell at an exorbitantly high price. However, if the item is indeed a popular item, I don't see the harm in the strategy you described.

All the above are my personal opinions from a buyer's perspective. 

Start with a higher price,  so why not reduce the price like a slow Dutch auction?  The only conclusion is price ceiling percentage busting.  Thats why list -withdraw -wait -list -again -with draw -wait- list again etc.    

A closed market is not a free market.  

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7 minutes ago, Pete said:



Having said that I have noted more newcomers simply using the forum to advertise their stuff.
Since there is no cost to do so, perhaps the administrators should only permit new members to list their coins on the forum after having been registered for X - months with a suggested minimum of 3 months ?


 

I think i've agreed with you on this before Pete. New members should spend some time scouting the forum and maybe interacting rather than launching straight into the sales section.

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13 minutes ago, Pipers said:

Start with a higher price,  so why not reduce the price like a slow Dutch auction?  The only conclusion is price ceiling percentage busting.  Thats why list -withdraw -wait -list -again -with draw -wait- list again etc.    

A closed market is not a free market.  

Yeah, I misinterpreted your post a bit. But, as I said, if someone posts something I'm interested in, I will make my due diligence (as a buyer) before attempting a negotiation or I will wait for the price to drop. But yes, as far as list-withdraw-repeat goes, that I don't agree with. 

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Generally speaking if the price isn't right the item won't sell. There are always going to be people who will try it on but price comparisons are fairly easy to do and items that are far out will sit unsold. The argument could be made that there is risk to inexperienced buyers with some sellers inflating prices, but people really need to be responsible for their own purchasing decisions. I am sure most of us made mistakes early on and we learned from them.

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6 minutes ago, Pete said:

I think this forum is great.
Many members are well informed and prepared to do some research so when a coin or bar is listed, the more astute members know whether or not the price is fair, good or grossly inflated.
There was a very valid point made by Chris that requested no-one comments on the seller's price.

Having said that I have noted more newcomers simply using the forum to advertise their stuff.
Since there is no cost to do so, perhaps the administrators should only permit new members to list their coins on the forum after having been registered for X - months with a suggested minimum of 3 months ?

I agree when sellers list coins at over-inflated prices - i.e. "chancers" it dilutes the appeal of the forum.
Most of us are not stupid so why would a fellow member pay a higher price than that advertised by our main dealers ?

I've bought a lot of coins from the forum and there are some genuine super sellers on here so hopefully this will continue and those looking to rip-off fellow stackers may decide to give up.
 

The forum was a very good place.  It used to be an excellent community, full of advise for new members who needed advise.  This kept the predictors out of the pond.  I'm of the opinion coin collecting /stacking is a small community it needs people to stick to the hobby for the long haul, not the short term. 

Some members are using the forum just to sell, they do not contribute. Maybe if they did contribute we could understand there opinions.   

 

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2 hours ago, Pete said:

Having said that I have noted more newcomers simply using the forum to advertise their stuff.
Since there is no cost to do so, perhaps the administrators should only permit new members to list their coins on the forum after having been registered for X - months with a suggested minimum of 3 months ?

If newcomers want to sell items cheap, not good to discourage or prevent them.  If they want to sell high thats up to the other side to recognise the price and not accept a deal if too high.  It would be daft to buy for more than ebay (with protection they offer), unless maybe something specific that doesn't come up there often. 

I'm surprised that people here would over pay, i thought the problem was they other way with threads on how people expect unrealistic bargins. 

Edited by Martlet

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I think part of the problem is the buy to flip coins.

the sole intention of these purchases is to make

money quickly. different people have different

views on what constitutes flipping.

my impression is that once one of these coins is

bought then it 'must' make them a profit quickly.

then it's just keep on re listing the coin until it gets

sold.

overpriced, how many people are holding over hyped

coins? those involved are constantly reminding

potential buyers of how valuable they are. when was

the last time someone constantly reminded you of

how valuable the sovereign that they were selling at

spot +4% is?

 

HH

Edited by HawkHybrid

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2 hours ago, Pete said:

Having said that I have noted more newcomers simply using the forum to advertise their stuff.
Since there is no cost to do so, perhaps the administrators should only permit new members to list their coins on the forum after having been registered for X - months with a suggested minimum of 3 months ?

So, members with more then 3 months of registration are free to list overpriced items ? And new members are not ? I'm not a 'new' but also not an 'old' member of this community....but I have seen a lot of 'older' members buying up the hyped coins of the day/week/month....only to list them on the forum for much higher prices then issued...the same day of issue or a couple of days later........I personally have no problem with that....I'm astute enough to look and search for myself if I'm after a coin....

But I understand Pipers.....I have seen it myself for a few times.....and....we can all talk about new/old members...but those issues Pipers is talking about is often not done by new members.....My thoughts

Please don't get me wrong.....luckily, most of the 'oldtimers' are TOP guys/girls....!! 👍

Edited by Tritoon01

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If i had a mind to i could also list coins at vastly inflated prices we all could.  I've seen coins on here even higher than Spink list price and thats going some even dealers don't price t them prices.  

There must be an intention to sell,  rather than just list.  For example most of us know what our house is worth,  but we do not put it on the market a twice its value, just in case some ill informed comes along and offers us the full asking price. We know no one will buy what we are doing is trying to push the price of the housing up in the area.  When a real seller comes along they then ask more than they would because they look at what the market is doing the selling price.  They see the house down the road asking ----- though he hasn't sold it must be worth somewhere near that then they list higher.. Its an old trick.   

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