25% Below Spot ??

[IdahoCopper]

Who here would willingly sell their silver at 25% below melt/spot? I'm not looking to buy, just asking.

I'm also curious how this conversation might go.

[barrytrot]

possibly my war nickels, those things tend to get a huge negative premium.

Definitely nothing else.

[OtusLotus]

If it was an agreement between a buyer and seller in an auction, then I would hold up my end of the bargain...

Because I have integrity!!!

So, if you auction something off, there is a risk/reward. you risk selling below value, your reward is to sell about market value... or you have a straight up sale.. these items for this price!

If you have sex with a girl and don't use protection... you can't start whining and crying that life is not fair when you realize that the girl is pregnant!

If you don't want to play by the rules... THEN DON'T PLAY!!!

[justj2k78]

Nay.

[Thogey]

10% pesos all day long.

[IdahoCopper]

Seems like the consensus is that nobody who knows about the value of what they have would sell 90%, or 40% for that matter, for only 75% of spot.

What a surprise!

[tractorman]

An auction without a reserve is a deal at the hammer.

[natsb88]

I just sold some for 20% below spot, because that's where my auction ended, and a deal is a deal. I'm not going to back out just because it sold lower than I hoped.

viewtopic.php?f=39&t=12857

[tractorman]

An auction without a reserve is a deal at the hammer.

[TXBullion]

I just sold some for 20% below spot, because that's where my auction ended, and a deal is a deal. I'm not going to back out just because it sold lower than I hoped.

viewtopic.php?f=39&t=12857

I had a KSA with some lower purity stuff end for 30% below melt and I sold them to the winnig bidder even though I thought they would go for more

[nero12345]

I just sold some for 20% below spot, because that's where my auction ended, and a deal is a deal. I'm not going to back out just because it sold lower than I hoped.

viewtopic.php?f=39&t=12857

Yeah what was up with this. The ad was clear at 4.5 ounces. I was just following suit with my bids but no one was bidding up till the last second. Someone got a hell of a deal

I buy locally and pay 25% of spot for Canadian and some US silver. Truth is I give the best price around, so many have told me, on junk silver. Some weeks I'll pick up $200 face value in silver, other weeks just odds and ends. I wouldn't sell at much more than a few % off spot though. Although I did on nickel a few times.
If silver goes parabolic and hits say $70 an ounce there will be a lot of people selling. But the price might be to high for most to buy so you may start seeing a discount just to move some of it. Possible I guess. My 2 cents.

[barrytrot]

I just sold some for 20% below spot, because that's where my auction ended, and a deal is a deal. I'm not going to back out just because it sold lower than I hoped.

viewtopic.php?f=39&t=12857

Yeah what was up with this. The ad was clear at 4.5 ounces. I was just following suit with my bids but no one was bidding up till the last second. Someone got a hell of a deal

I buy locally and pay 25% of spot for Canadian and some US silver. Truth is I give the best price around, so many have told me, on junk silver. Some weeks I'll pick up $200 face value in silver, other weeks just odds and ends. I wouldn't sell at much more than a few % off spot though. Although I did on nickel a few times.
If silver goes parabolic and hits say $70 an ounce there will be a lot of people selling. But the price might be to high for most to buy so you may start seeing a discount just to move some of it. Possible I guess. My 2 cents.

I noticed the price of this one but I just don't have a need for 1.5 ounce coins. They don't fit in any of my stacks.

That's the reason for the low-balling on that one. I bet a lot of people just don't buy 1.5 ounce coins. (Rounds)

[highroller4321]

I just sold some for 20% below spot, because that's where my auction ended, and a deal is a deal. I'm not going to back out just because it sold lower than I hoped.

viewtopic.php?f=39&t=12857

+1 to that! I sold some war nicks last KSA from UNDER apmex buy prices.


That is all part of the risk you take when you run an auction. Like Nate said a DEAL IS A DEAL and the only honorable thing to do is ship your item, learn a lesson, and go to the next thing.

[JobIII]

I sold a lot of 90% here a little while back for somewhere around 21x and it jumped to >25x before I received payment. Not quite 25% under spot. Happy to say the coins were from roll searching so I still made quite a profit.

[Nickelmeister]

Who here would willingly sell their silver at 25% below melt/spot? I'm not looking to buy, just asking.

I'm also curious how this conversation might go.

As a bullion dealer, I would sell silver at 25% below spot if I had locked-in a deal with someone and then spot moved that much against me before I fulfilled the order.
In this business, your reputation is your single most valuable asset. If I understand the back-story to this thread correctly, you may be in danger of severely depreciating yours.

[IdahoCopper]

As a bullion dealer, I would sell silver at 25% below spot if I had locked-in a deal with someone and then spot moved that much against me before I fulfilled the order.

I consider the spot price to be what it was when the deal is agreed to by both parties; not what it is the the day the money is received or the product is sent.

A deal that is agreed to by both parties, is a deal. That deal's value is calculated at that agreement time, and not upon data that is only known at a later time.

That is what happens when cash is exchanged in person for coin..... why calculate it differently because of mail delay?

[Nickelmeister]

As a bullion dealer, I would sell silver at 25% below spot if I had locked-in a deal with someone and then spot moved that much against me before I fulfilled the order.

I consider the spot price to be what it was when the deal is agreed to by both parties; not what it is the the day the money is received or the product is sent.

A deal that is agreed to by both parties, is a deal. That deal's value is calculated at that agreement time, and not upon data that is only known at a later time.

That is what happens when cash is exchanged in person for coin..... why calculate it differently because of mail delay?

Let me flesh out the example I am thinking of, because this actually happened to me recently. A friend of mine (who is also a metals dealer) received a request from a customer for approximately $95K worth of bullion. He didn't have the proper inventory on hand and asked if I would supply him the coins. We locked in a price on FEB 28th at the close of business. As you may recall, FEB 29th was the day gold went down almost a hundred bucks and silver crashed an even greater amount pecentage wise. Because the deal was being brokered through my colleague, I did not receive a deposit (which is my standard protocol for an order of this magnitude) and the buyer did a very dishonourable thing and BACKED OUT of the deal. Now, from his perspective, he was probably thinking "why pay $95,000 for metal that is now worth less than $87K?" Well, from my perspective, being on the other side of the deal I actually LOST that $8,000 because has it not been for this order I would have sold an equivalent amount from my metal pool on account with my refinery to lock in the price and balance my position that day. Now I could have insisted that my friend cough up the difference, but I don't want to sour that otherwise positive business relationship.

The purchasers disgraceful conduct, to not stand by his word on a deal, cost me a sizeable amount of money. I have told dealers all around town and the dude is basically black-listed. This is not tolerated.

[tractorman]

An auction without a reserve is a deal at the hammer.

[Market Harmony]

Nearly everything has a price. One exception is someone's reputation... Actions taken by someone that become detrimental to their own reputation is a reflection of poor opportunity cost analysis

[H2SO4]

to be honest I was shocked i got them at that price! I really just wanted them because they said colorado on them!

I just sold some for 20% below spot, because that's where my auction ended, and a deal is a deal. I'm not going to back out just because it sold lower than I hoped.

viewtopic.php?f=39&t=12857

Yeah what was up with this. The ad was clear at 4.5 ounces. I was just following suit with my bids but no one was bidding up till the last second. Someone got a hell of a deal.

[Rodebaugh]

Nearly everything has a price. One exception is someone's reputation... Actions taken by someone that become detrimental to their own reputation is a reflection of poor opportunity cost analysis

Poetically true......Nice work wordsmith.

[Hades12]

If i had to have cash in a hurry I could see having to go that low. Local to a pawn or other shop to get cash the same minute. But I hope I am fluid enough to not have to do that.

[daviscfad]

I dont run auctions for this very reason of the risk. If something sells For less than i want it to it is my own fault. I actually bought some gold from someone and the same day mark said the gold dropped 100 an oz also got me. I had not paid the guy yet b.c i had to get the cash but we locked in a verbal agreement of what i would pay. So even though an hour after i bought gold dropped so much I still paid what i said i would pay an ounce even though it dropped. If you want to be reputable then dont do shady things

[CU Baker]

I just bought the silver merc dime earings and necklace for twenty seven bucks, six times or more over what the silver is worth. Some times you over pay to make someone smile. Then again I sold some stuff on the auction and it made me fell better to put it in a small flat rate box and eat the freight as to have it get beat up in an evelope. I guess the entertainment value of the KSA off sets some of the bone head sales I make sometime, the banter and the laughs are pricless sometimes.

[TheJonasCollegeFund]

You win some...you lose some....!

I've found a killer deal or two on ebay and other places...but then again I'm auctioned, here, some foreign silver and took a hit. If you're real lucky...the good deals with blow away the bad deals. Stuff happens!