Why would anyone sell their silver to a dealer at spot when you can sell on 2nd hand market for basically double?

[VelociteeSteel]

On 29/10/2021 at 01:02, ArgentSmith said:

Selling Silver at spot is like selling a used motor to webuyanycar.com

Days are changing in this field at the moment, secondhand prices from wbac.com, cazoo, motorway have been rising due to lack of new car availability (not very many 71 plate about). Try selling your car if it's 3-5 years old and get a better price privately, all i'll say is it's unlikely.

I sold mine via cazoo and was pleasantly surprised at how hassle free the deal was and the price i got.

Seriously, evaluate each option carefully, wbac even offered me £600 more than cazoo after i sold it, but take into account all fees and quickness of payment.

[Foster88]

On 30/10/2021 at 11:47, VelociteeSteel said:

Days are changing in this field at the moment, secondhand prices from wbac.com, cazoo, motorway have been rising due to lack of new car availability (not very many 71 plate about). Try selling your car if it's 3-5 years old and get a better price privately, all i'll say is it's unlikely.

I sold mine via cazoo and was pleasantly surprised at how hassle free the deal was and the price i got.

Seriously, evaluate each option carefully, wbac even offered me £600 more than cazoo after i sold it, but take into account all fees and quickness of payment.

This is quite true. I was looking at trading my car recently for a newer model and I was surprised to be offered just £200 less than what I paid for it three years ago.

 

[ArgentSmith]

A neighbour of mine sold her Merc to a dealer for 6k more than she paid for it from a dealer about 9-12 months ago. She would have done even better privately. I can't think of a better example of stagflation TBH.

[AndrewSL76]

On 29/10/2021 at 12:59, James32 said:

I'd say you have £2m+ just casually laying in your sock drawer😁

Nah, it is all, as per an earlier thread last year (I think) hidden in his piano. Ask him to play a C sharp and listen out for the strange 'ring' as the hammer hits the monster boxes.

A.

[AndrewSL76]

As others have mentioned, selling to dealers is hassle free. I will normally sell privately where possible, but if the margins are good, I am happy to sell to a dealer and have done. I am not a wealthy man, but my day job pays me a better hourly rate than selling coins privately v to a dealer allows. When offered cash in hand, hassle free, I will take it every time if the difference is a few hundred pounds and it would take me hours to sell, have to package and then risk Royal Mail in sending it out - it may sound arrogant, but my time is generally worth more to me than a larger sale price. I think sometimes this notion is not considered heavily enough in the balance.

[ArgentSmith]

28 minutes ago, AndrewSL76 said:

As others have mentioned, selling to dealers is hassle free. I will normally sell privately where possible, but if the margins are good, I am happy to sell to a dealer and have done. I am not a wealthy man, but my day job pays me a better hourly rate than selling coins privately v to a dealer allows. When offered cash in hand, hassle free, I will take it every time if the difference is a few hundred pounds and it would take me hours to sell, have to package and then risk Royal Mail in sending it out - it may sound arrogant, but my time is generally worth more to me than a larger sale price. I think sometimes this notion is not considered heavily enough in the balance.

Agreed... but in the case of buying and selling silver using a dealer the convenience will cost you about 40% of your capital. Pretty much making the whole exercise pointless. If you are playing about with single coins here and there yes what a pain in the arse, but there's nothing to stop you selling a monster box or two privately. 

[dicker]

1 hour ago, ArgentSmith said:

A neighbour of mine sold her Merc to a dealer for 6k more than she paid for it from a dealer about 9-12 months ago. She would have done even better privately. I can't think of a better example of stagflation TBH.

I have heard of a few people being surprised how easy it was to sell their cars privately in the last few months.  I guess there are a number of factors at play here - it will snap back the other way - I guess if you own and can sell now and wait to buy again it might be a good strategy.  Running a Skoda Fabia with mega milage, it is not really an option for me!

[Foster88]

2 hours ago, ArgentSmith said:

A neighbour of mine sold her Merc to a dealer for 6k more than she paid for it from a dealer about 9-12 months ago. She would have done even better privately. I can't think of a better example of stagflation TBH.

I wish I’d been stacking Merc’s now instead. 😆

[ArgentSmith]

18 minutes ago, dicker said:

I have heard of a few people being surprised how easy it was to sell their cars privately in the last few months.  I guess there are a number of factors at play here - it will snap back the other way - I guess if you own and can sell now and wait to buy again it might be a good strategy.  Running a Skoda Fabia with mega milage, it is not really an option for me!

Maybe it will snap back? but if we continue to print money whilst destroying economic output shortages will lead to ever higher prices. The Soviets tried all this before and it failed.

[dicker]

Just now, ArgentSmith said:

Maybe it will snap back? but if we continue to print money whilst destroying economic output shortages will lead to ever higher prices. The Soviets tried all this before and it failed.

I do not disagree fundamentally, but as far as I understand it, there is a significant issue with the production and supply of new vehicles which is the real reason for the impact to the used car market.

I have heard of order times of over a year to buy fairly ordinary new cars - I suspect this may be regional and brand based, but there is definitely manufacturing capacity issue / back log issue.

Hold on to your diesels and hope for a government scrapple scheme in 10 years!

 

[Arganto]

If you want a good fuel tax dodge look for an old diesel without an electronic fuel pump or direct injection. Run the bugger on part mix filtered used oil/diesel or if you don't mind rebuilding mechanical fuel pumps every now and then (and rolling the dice on cold starts) forget the diesel...

I wish I'd kept my XUD9 Xantia estate tucked away somewhere. Rode like a magic carpet and everything could be fixed with basic tools and foul language. Bliss.

Government scrappage schemes are a scam. They use tax payer money to do it and take perfectly useable vehicles off the road. Grrr, argh etc.

[Roy]

Me mate Denzil swears by the Peugeot/Citroen motor, he's run them for years. He once put a 2.1(?) in the back of his T2 camper. 

Apart from tanks, I hadn't heard of diesels running on oil until I saw a Fiat Ducato 2.8 self destruct when its turbo seals failed.

Back to silver 

[James32]

I bet the guy that started this thread is a bit confused, as to what this forum is about at this stage 😅😅😅

[Arganto]

13 minutes ago, Roy said:

when its turbo seals failed.

Yeah it's not much good if it doesn't combust before the exhaust valve opens 🤣 

Sorry OP! 👀