Leaving the EU - SOTD Sovereign

[wolfiemac]

2 minutes ago, danmc82 said:

Really winds me up. You'd think there was some law to stop companys doing this.

Physical shops arn't allowed to increase their prices during opening hours, so why can these get away with it?

That's a canny mark up, 😮😲

[Roy]

13 minutes ago, terakris said:

the con connection

[sic]

[ilovesilverireallydo]

eBay auctions already heating up

[danmc82]

18 minutes ago, terakris said:

the con connection do this all the time, kinda accepted to get in early if you think its going to spiral out of control

I know they do, but my point was how can they be allowed to get away with it?

 

[Notafront4adragon]

27 minutes ago, danmc82 said:

Really winds me up. You'd think there was some law to stop companys doing this.

Physical shops arn't allowed to increase their prices during opening hours, so why can these get away with it?

They can increase their prices. They can't increase it after you've both agreed to sell/buy it.

Why would there be a law saying you can't make money? Did we finally enter socialist nirvana?

[Notafront4adragon]

10 minutes ago, danmc82 said:

I know they do, but my point was how can they be allowed to get away with it?

 

Cause people give them money. Normally you keep doing things if you get money. 

[danmc82]

4 minutes ago, Notafront4adragon said:

They can increase their prices. They can't increase it after you've both agreed to sell/buy it.

Why would there be a law saying you can't make money? Did we finally enter socialist nirvana?

Obviously they cant increase the price after you've agreed, because you've already paid for the item.

What I'm saying is, they can up the price to whatever they want, £100,000,000,000 is fine by me, it shouldnt be allowed during opening hours. The increase should be the following day.

[ilovesilverireallydo]

8 minutes ago, danmc82 said:

Obviously they cant increase the price after you've agreed, because you've already paid for the item.

What I'm saying is, they can up the price to whatever they want, £100,000,000,000 is fine by me, it shouldnt be allowed during opening hours. The increase should be the following day.

Why though? In numismatic it’s demand and supply right? If they didn’t raise prices the lose out to flippers. Already selling at £1250 plus on eBay 

[Oldun]

 

Warning....some swearing....I mean without this, some folk wouldn’t  be making a few bob

 

[AppleZippoandMetronome]

I am in disbelief that the SOTD sold out at that price and mintage and further disbelief that they are seemingly selling for what they are on ebay. All of you SOTD collectors have my sympathy as it isn't like future releases will be any different...  a precedent has been set here. I agree wholeheartedly with what @GoodAsGold said earlier in this topic...  the RM now well and truly have SOTD collectors over the barrel. Sad times.

[Notafront4adragon]

15 minutes ago, danmc82 said:

Obviously they cant increase the price after you've agreed, because you've already paid for the item.

What I'm saying is, they can up the price to whatever they want, £100,000,000,000 is fine by me, it shouldnt be allowed during opening hours. The increase should be the following day.

I dunno you're sounding a bit like a communist now telling what hours I can sell something for. 

In all seriousness you can't regulate for that, plus what about 24hr businesses or businesses that sell in different time zones.

If people like you are annoyed (in my view quite rightly) at this kind of opportunistic price hike then don't pay. Problem is other people will. The general public can't be trusted. 

[sovereignsteve]

Look on the bright side, it keeps us all entertained😀

[watchesandwhisky]

out of stock at chards - people are going mad for this coin but i think its of the back of what happened with una and the lion..

[Guybrush]

I still think people are overlooking this coin.  Yes RM have jacked up the price to make a quick profit but there is good reasoning and if I was a business I would too.  Brexit has full media attention, over 50% voted for it.  That means half of the population want "brexit" the demand for these coins is going to be higher simple as that.  If you was running a business you would see the increased demand and cater for it.  In fact that all business is.

Here is the trick I think is being missed.  There are 1500 coins, lets say because of the increased demand half end up in the hands on none sovereign collectors.  They will handle them and show them off to their other brexit friends or feed them to their British bulldog while taking their brexit facebook picture.  I think the long game here is going to be a winner, its a significant date and I think high grade coins will be hard to come by.  Of course time will tell but the general interest in brexit and not sovereigns no wonder its sold out.

In fact its likely to bring more attention to sovereigns in the long run.

[danmc82]

14 minutes ago, Notafront4adragon said:

I dunno you're sounding a bit like a communist now telling what hours I can sell something for. 

In all seriousness you can't regulate for that, plus what about 24hr businesses or businesses that sell in different time zones.

If people like you are annoyed (in my view quite rightly) at this kind of opportunistic price hike then don't pay. Problem is other people will. The general public can't be trusted. 

Not quite, there are Laws in retail which state when you can and cant increase prices. For 24 hour places they will have a strict timeline on when they can do this.

I'm not telling you when you can and cant sell, but your not a buisness. CC is.

What if RM started upping their prices once 50% of the coin had sold? Would everyone deem that fair?

[Notafront4adragon]

At the end of the day the RM is a company, a very old company. If I've got a company that has products that sell out everytime I'm gonna raise the price. I'm definitely gonna try and make as much money as possible. Especially if I see a part of the market I can control but currently don't. 

This forum is highly critical of them for doing so but I'm sure we would do the same if we had a product everyone wants. Unfortunately loyal customers and in this case collectors will suffer higher prices. But that is the cost of being a collector of a certain product.

I believe the future pressure the RM is facing with physical coins being used less and less will mean they have to make more somewhere else hence all these specials and new not coin products. 

[danmc82]

2 minutes ago, Notafront4adragon said:

At the end of the day the RM is a company, a very old company. If I've got a company that has products that sell out everytime I'm gonna raise the price. I'm definitely gonna try and make as much money as possible. Especially if I see a part of the market I can control but currently don't. 

This forum is highly critical of them for doing so but I'm sure we would do the same if we had a product everyone wants. Unfortunately loyal customers and in this case collectors will suffer higher prices. But that is the cost of being a collector of a certain product.

I believe the future pressure the RM is facing with physical coins being used less and less will mean they have to make more somewhere else hence all these specials and new not coin products. 

I agree, if I were a buisness I would also do the same if I think I was making money out of it. The RM choose to gamble by selling at £800, and its their every right to do so. The price increase over a normal SOTD doesnt bother me becuase I wasnt going to buy it anyway (I dont do SOTD)

On the other hand, CC were allocated a set amount of coins for a set price (Id assume) so increasing the price is very cheeky IMO. Will they share their profits with the RM? Maybe not.

They aren't acting like a professional company IMO. I dont see any other company doing the same. Chards, Island Stamps & Coins, Westminster (As far as I'm aware) to name a few. They normally list at higher prices to start with and stick to that.

I'm just glad I never started with SOTD for the reason you mention above 😄

 

[Notafront4adragon]

11 minutes ago, danmc82 said:

Not quite, there are Laws in retail which state when you can and cant increase prices. For 24 hour places they will have a strict timeline on when they can do this.

I'm not telling you when you can and cant sell, but your not a buisness. CC is.

What if RM started upping their prices once 50% of the coin had sold? Would everyone deem that fair?

I'm sure there is some regulations, but as I understand it you're allowed to do some surge pricing and at the end of the day someone can refuse to sell something on almost any grounds so they remain in control if the price.

Is that right? On balance I'd say yes, why should a retailer not be able to set a price (unless they've a monopoly), that they want for their product. They shouldn't be forced to sell lower, at the end of the day they are making the 1st offer it's up to the buyer to decide to accept or shop somewhere else. I guess the problem here is you could argue is the RM has sort of a monopoly, but coin connection definitely don't and can charge what they like in my opinion.

Also re the RM upping the price, no people wouldn't say that was fair but when does fairness even matter in business? All that matters is did you sell your product and make profit? Would they do it, probably not as that would upset their customer base too much and sales and profits would drop. 

[Mike]

Still kicking myself that I turned down an opportunity to buy a Una and the Gold coin from my RM account manager....I'm torn on this one.  I have one on hold from my account manager and they're phoning me Monday to take payment - I Weill see what happens over the weekend -  @Guybrush makes a valid point and given the hype around this, I can see it be the only coin that some individuals ever buy, possibly with more money than sense

[Oldun]

I reckon politicians etc with too much money are buying these as presents 🤣

[Notafront4adragon]

Just now, danmc82 said:

I agree, if I were a buisness I would also do the same if I think I was making money out of it. The RM choose to gamble by selling at £800, and its their every right to do so. The price increase over a normal SOTD doesnt bother me becuase I wasnt going to buy it anyway (I dont do SOTD)

On the other hand, CC were allocated a set amount of coins for a set price (Id assume) so increasing the price is very cheeky IMO. Will they share their profits with the RM? Maybe not.

They aren't acting like a professional company IMO. I dont see any other company doing the same. Chards, Island Stamps & Coins, Westminster (As far as I'm aware) to name a few. They normally list at higher prices to start with and stick to that.

I'm just glad I never started with SOTD for the reason you mention above 😄

 

I agree it'll be up to CC customers to decide if it's acceptable. They seem to think so at the moment.

I don't hence don't buy from them. 

I don't collect SOTD either, I like old coins with a variety of designs and whilst the sovereign design is nice, having a whole bunch of essentially the same coin just doesn't do it for me. 

I would say with my limited knowledge of sovereign collectability, that this Privy mark will be the most significant of the recent ones, and if Privy mark attract premiums in future the Brexit portcullis would be one will be the one to have. 

[terakris]

11 minutes ago, Mike said:

Still kicking myself that I turned down an opportunity to buy a Una and the Gold coin from my RM account manager....I'm torn on this one.  I have one on hold from my account manager and they're phoning me Monday to take payment - I Weill see what happens over the weekend -  @Guybrush makes a valid point and given the hype around this, I can see it be the only coin that some individuals ever buy, possibly with more money than sense

Take it, if you dont like it or change your mind return it. Thats what I do.

[Notafront4adragon]

9 minutes ago, Oldun said:

I reckon politicians etc with too much money are buying these as presents 🤣

Mogg will definitely have several gifted him.

Farage will probably be annoyed it has foreigner riding a horse taking away good dragon slaying jobs from locals.

[AppleZippoandMetronome]

16 minutes ago, Mike said:

Still kicking myself that I turned down an opportunity to buy a Una and the Gold coin from my RM account manager....I'm torn on this one.  I have one on hold from my account manager and they're phoning me Monday to take payment - I Weill see what happens over the weekend -  @Guybrush makes a valid point and given the hype around this, I can see it be the only coin that some individuals ever buy, possibly with more money than sense

Tough decision. Do folks really believe 6 months or a year from now it will still be worth at least £800? Comparing it to others its hard to see but certainly possible. This feels to me like other hyped releaes that were mostly bought up by flippers who made good profits provided they could sell up before the price came back down to where the market decided it should be. I've only been watching these releases for about 2 years now though so am no expert. I am also fairly risk adverse so my interest was lost the moment I saw the £800 price tag. I just can't see it selling for as much as £800 in 6 - 12 months time.

[Oldun]

Regardless, many/some will be gifted I am sure.

 

@Notafront4adragon