[meteorite-list] Re: Dealer Refunds

From: John Gwilliam <jkg_at_meteoritecentral.com>
Date: Thu Apr 22 10:22:43 2004
Message-ID: <4.2.0.58.20030628091158.009e3640_at_mail.theriver.com>

Hello Steve, Geoff et al,
Anyone that has been in the meteorite business, whether a buyer or seller,
knows that a price correction almost always follows the initial offering of
a new meteorite. A few days after the Park Forest fall when someone was
complaining about what they perceived as inflated prices, several list
members, including myself predicted there would be a reduction in price
within a month or so. My prediction was really just preaching to a well
informed choir - after all, everyone SHOULD know about price changes on a
new meteorite. Any dealer (or non-rookie collector) that doesn't have a
good grip on this concept is going to have a rocky ride through life.

Remember the Christmas season a few years back that some folks just "had to
have" the "Tickle me Elmo" doll? They were selling for upwards of
$500.00. Six months later they were back at the original retail price of
about $30.00.

  Thank goodness that the majority of people in this business are easy to
deal with and are people of integrity. You don't have to be a rocket
scientist (or a meteorite scientist) to understand this very elementary
business rule.

Anyone want my $8.00 per gram Brahin?

Best,

John

At 11:41 AM 6/28/03 -0500, geoking_at_notkin.net wrote:
>Dear Steve and List:
>
>Excellent question Steve; look at the interesting discussion you started!
>
>I would like to mention something specific to this matter: Steve was
>offering some of the best Park Forest stones available, and probably *the*
>best small, complete individuals. I know this for a fact because I watched
>him find most of them (read all about it in the upcoming issue of "Meteorite").
>
>When there is a limited amount of an exciting new meteorite available --
>or in this case an exciting, new, unique, American-major-city witnessed
>fall meteorite, with fireball videos, busted cars and houses, and the
>whole works to accompany it, collectors are understandably very keen to
>get some. Those that *must* have a piece, or want to pick from the cream
>of the crop, will buy early and perhaps pay a premium. Those that gamble
>and wait may get a lower price later on eBay, when the initial demand has
>been met (and may be picking from lesser quality specimens as a result),
>or they could discover that there is none left at all. If you buy early on
>to ensure that you get a good specimen, there's no use griping later
>because the price has dropped.
>
>Steve, your customer's request is nothing but sour grapes. He was
>complaining about the price back then, but bought from you anyway. He's
>still complaining about the price, and now hoping to get a hand out. Don't
>even think about it. He's lucky to have those stones -- which you found
>through hard work and skillful strewn field mapping -- and I happen to
>know that the price he paid was very fair. Similar stones have sold
>elsewhere for more.
>
>BTW, by posting your ethics question to the List, you have covered
>yourself in the event that this character does have the poor taste to
>complain about you in public (not that anyone would take him seriously).
>
>
>Your hunting pal,
>
>Geoff N.
>
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Received on Sat 28 Jun 2003 12:27:29 PM PDT