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A failure to acquire a cover I wanted

12 posts in this topic

Just pondering what happened here,

 

A cover I wanted gets listed on a major dealers site for 30-35K

 

I purchased a similar era etc cover (same artists etc for 24 - 28K range, indeed from the same dealer)

 

I send in a offer for 28K which gets rejected

 

cover eventually disappears from the site

 

yada yada yada

 

I am working on another deal, and that dealer tells me he just sold that cover for 20K

 

so….it strikes me that the offer never went through to the seller the first time.

 

If I was looking to sell, got an offer like that and rejected it. Well, if I decided to take lower than 30-35K later on, wouldn't I ask the dealer to go back an see if the 28K offer was still interested??

 

I feel like something not right happened here.

 

I guess a just a vent, since I am not going to say who or what it was.

 

BUT…has anyone else ever thought or found out that they got an offer on something consigned but were not told about it?

 

 

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for me cash flow is week to week (meaning I generally spend it when I have it), just picked up some new pieces and working on a deal for some others, so that sort of kills it for making that offer at the moment

 

but not a bad idea for the future (thumbs u

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Can you ask the dealer if he can get the cover back from the buyer? Give the buyer his 20K back plus 2K for his troubles. Give the dealer 2K for his troubles. You still make out 4K less than you were willing to spend

 

Worth a shot

 

I don't think that would be right or fair to the other buyer. Sure, it sucks he didn't get the piece when the dealer wanted a higher price, because he chose the wrong time to ask for a discounted price. But the guy who got it for 20K just happened to be at the right place at the right time. The deal was agreed to by both parties and should be honored. Anyone who'd try to shoehorn themselves in-between the completion of that deal would, IMO, be reprehensibly wrong. Make the offer for 24K or 28K to the new owner, if you would want to take another shot. But to get a dealer to reverse a bargain already made is wrong.

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Happened to me a while back. Flew to SDCC specifically to do a deal on a piece I was in a bidding war over. Got there, I was the high bid so far and I thought I was a shoe-in as my competition had backed off. Next thing I know I'm told the piece sold for 25% less than my last high offer to someone else, dealer got confused and screwed up. Approach the new owner, he wants 3 times what my offer was, 4 times what he paid. I left SD in disgust.

 

As for disrupting the existing deal, I don't think that's the right way to go. On the other hand I know a very large population of dealers and collectors that wouldn't even hesitate. I assume you already told him you put in the higher offer before. You may not be in a position to live up to that offer now based on how you describe your circumstances but at least you need to let the dealer know things may not be working the way he thinks they are.

 

 

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To be clear there are two dealers here

 

The piece was with the first dealer at 3x,000 and I offered 28k

Rejected

 

Then it's delisted.

 

I am working with another dealer, tell him the pieces I am looking for, he says he just sold the cover that, unknown to him, I made an offer on at 28k, for 20k.

 

Why would the owner of said cover accept 20k with dealer B when they knew there was a 28k offer with dealer A ...Unless they didn't know about the 28k

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In fairness, we don't know what happened. The seller could have told dealer A that 30k is their rock bottom before the consignment cut, don't bother me with offers less than that. It doesn't sell. He decides to try another dealer and revisit his asking price.

 

I'm not saying that's what happened here, I think your scenario is more likely, just sayin' there are possibilities.

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for me cash flow is week to week (meaning I generally spend it when I have it), just picked up some new pieces and working on a deal for some others, so that sort of kills it for making that offer at the moment

 

but not a bad idea for the future (thumbs u

If you wanna sell that MK cover to increase flow... :whistle:

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for me cash flow is week to week (meaning I generally spend it when I have it), just picked up some new pieces and working on a deal for some others, so that sort of kills it for making that offer at the moment

 

but not a bad idea for the future (thumbs u

If you wanna sell that MK cover to increase flow... :whistle:

 

$3.50

 

 

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To be clear there are two dealers here

 

Why would the owner of said cover accept 20k with dealer B when they knew there was a 28k offer with dealer A ...

 

Maybe.... JUST maybe... in addition to the $20k, the buyer threw in some art that took the sale above your $28k offer?

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for me cash flow is week to week (meaning I generally spend it when I have it), just picked up some new pieces and working on a deal for some others, so that sort of kills it for making that offer at the moment

 

but not a bad idea for the future (thumbs u

If you wanna sell that MK cover to increase flow... :whistle:

 

$3.50

 

 

Now lets just settle down and remember that the line starts behind the under bidder at the Heritage offering who is from Monterey. :baiting::grin:

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