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View Full Version : Bargain with your dealer?



Daveman
28th April 2008, 20:11
I'm curious if anyone one here who has bought from a local dealer has tried, successfully or not, to bargain with their dealer when SELLING?

From what I gather, there IS a shortage of 100oz bars (JM or Engelhard) on the local dealership level (excluding the bigger places like Monex, APMEX....) where you can just walk in and pay cash and walk out with it.

I live in S. Cal, where there's no shortage of dealers, and it's very difficult to find any 100 oz JM or Engelhards (or any refiner) from local dealers.

So, given this "shortage," should I even try to demand spot price, or even above spot, if I were to sell 1 or 2 100oz. Engelhards to a local dealer? Would I get laughed out of the store?


Just went to APMEX, and their 100 oz JMs are 50cents over spot... so dealers can obviously make money even if they were to buy them from me at spot.

JesterJay
28th April 2008, 23:09
Just call around. They will tell you what they will pay. If you lug the slug all the way to the coin shop just to hear a number you DO NOT want to hear, well, I wouldn't want to lug it all the way back home.
A few weeks ago you'd have gotten over spot in many places. Now, I am not so sure.
Find out first,
JesterJay



I'm curious if anyone one here who has bought from a local dealer has tried, successfully or not, to bargain with their dealer when SELLING?

From what I gather, there IS a shortage of 100oz bars (JM or Engelhard) on the local dealership level (excluding the bigger places like Monex, APMEX....) where you can just walk in and pay cash and walk out with it.

I live in S. Cal, where there's no shortage of dealers, and it's very difficult to find any 100 oz JM or Engelhards (or any refiner) from local dealers.

So, given this "shortage," should I even try to demand spot price, or even above spot, if I were to sell 1 or 2 100oz. Engelhards to a local dealer? Would I get laughed out of the store?


Just went to APMEX, and their 100 oz JMs are 50cents over spot... so dealers can obviously make money even if they were to buy them from me at spot.

Drumblebum
28th April 2008, 23:27
I'm curious if anyone one here who has bought from a local dealer has tried, successfully or not, to bargain with their dealer when SELLING?

From what I gather, there IS a shortage of 100oz bars (JM or Engelhard) on the local dealership level (excluding the bigger places like Monex, APMEX....) where you can just walk in and pay cash and walk out with it.

I live in S. Cal, where there's no shortage of dealers, and it's very difficult to find any 100 oz JM or Engelhards (or any refiner) from local dealers.

So, given this "shortage," should I even try to demand spot price, or even above spot, if I were to sell 1 or 2 100oz. Engelhards to a local dealer? Would I get laughed out of the store?


Just went to APMEX, and their 100 oz JMs are 50cents over spot... so dealers can obviously make money even if they were to buy them from me at spot.

I can see why attempting to haggle with a dealer can be a bit unnerving... it takes one who enjoys confrontation to succeed at it, unless of course the dealer is a pushover, which I reckon most metals dealers (or gun dealers or drug dealers, etc.) are not.

Still, if you plan on doing a lot of business with this particular dealer, I think it might earn you some respect to show that you're not afraid to push the envelope.

The guys I deal with in Hemet are oldschool vets from back east somewhere, kind of abrasive hardasses at first, but I've pushed them on price a couple of times and got what I wanted. If you are a regular customer they should work with you. If not I wouldn't count on a whole lot of sympathy.

Now, you were asking about selling, and I'll admit I haven't gone that route yet, so my POV may be totally useless...:confused:

Just curious... where you at in So Cal?

Daveman
29th April 2008, 02:20
Thanks for the tips, guys. I'm in the OC.

I understand the dealers USUALLY would buy back under spot, and sell it out over spot. But like I said, with 100 oz bars virtually unavailable at the moment, should I try to ask for a premium if I were to sell? Since the dealer will obviously be able to sell that same bar at a premium.

clr8ter
29th April 2008, 17:10
If you cannot find 100 oz. in the local shops, but you can get them from APMEX, ect., I wonder why the locals simply don't go get them from there to resell on the local market? I have not noticed a shortage here in the N.E., but I will try to remember to call around this week and find out what people have in stock and are getting for it.