[meteorite-list] Dealer Refunds

From: Steve Schoner <steve_schoner_at_meteoritecentral.com>
Date: Thu Apr 22 10:22:43 2004
Message-ID: <20030628145424.42925.qmail_at_web12708.mail.yahoo.com>

As I mentioned, I have exchanged meteorites from the
same find, sometimes years after I sold them, to
costemers that wished to exchange for larger pieces,
that may or my not be at a lower price per\gram. The
exchange is/was offered only for specimens from the
same location.

As a dealer, years ago, I remember the Millibillille
thing. The very first pieces that came it were $20
per/gram back in '91 or so. That was a lot of money
back in those days of meteorite dealings. I bought a
piece, a really nice completely fusion crusted
individual, with really lusterous black fusion
crust... 112 grams.

I was very happy with it.

But then, about a year or so later, as I remember,
hundreds came in, piles of them came in, and the price
dropped, to 2.50 per/gram.

I was sick when I thought about it, but I still liked
that first piece though the cost I paid for it versus
the cost that it dropped to dulled its lustre.

What did I do? I did not ask for a refund... Instead I
went down to Tucosn with $2000 in cash and bought a
whole bunch of cherry picked nice specimens from Bob
Haag, and some others for $2.50 to $3.00 per gram. I
got some very nice pieces, as some of my recent
customers know.

And I sat on them, for years and recently I sold most
for prices ranging to $10 to $20 per/gram.

I recouped my loss and even made some money.

I still have that first 112 gram piece, and its lustre
has returned. And it is a beautiful piece.

Moral of this story is that if you are a dealer and
the price of an item goes down substantially... BUY
more! And expect to sit on it for a while.

And for sellers, know the risks of investing in
collectibles. And buy only if you really want it, and
do so without "buyer's regrets."

Meteortes are not stocks, or like rare coines, but
like these the prices will fall or they will rise. If
one is into it for money, then that will temper their
buying, but for one that is into it for collecting
only, that should have less effect in what they choose
to buy.

Steve Schoner /ams
http://www.geocities.com/american_meteorite_survey


--- "Frederick N. Ley" <fnley_at_QNET.COM> wrote:
> It would seem, at least to me, fine if a customer
> wanted to return a sample in order to
> turn around and purchase a larger sample of the same
> fall. But, after a months time
> to simply return it because of a price drop or
> whatever other nuance, is asking a bit much.
>
> I would feel that if one is price conscious, then
> one must do their homework prior to
> making a purchase. I am certain that this has
> happened to the best of us, myself included.
> We should learn from the errors that we make as we
> stumble along the road of life. We have
> this wonderful List here that one could ask if
> so-and-so meteorite that I am thinking of
> purchasing is a good buy. I am certain that one
> would receive good feedback.
>
>
> Fred Ley
>
>


__________________________________
Do you Yahoo!?
SBC Yahoo! DSL - Now only $29.95 per month!
http://sbc.yahoo.com
Received on Sat 28 Jun 2003 10:54:24 AM PDT