Hey SGKSY,

you mentioned that RM 6k is cheap in one of your post, but you only want to pay RM 4k for the item which cost about RM 3k plus? It's too much risk, even if you are o.k. with china post, if the thing gets lost, I don't think I will feel comfortable.

Anyway, let's based on the cheap price of RM 6k for this discussion, shall we?

chef

Hey, no problem, this is a forum, we share our thoughts.

At least I know RM 6k there will be no takers.... so far.

And Like all sellers here, if I am the one sending the package and it got lost enroute, are you saying it's o.k. to push all responsibility to the buyer and no need to resend another one or compensate him? Wouldn't that spoil my reputation?


chef

Great conclusion,

So now you guys knows why I stay out of FB even though it's as easy as creating an account, as a collector and sometimes seller, I don't want to compete with anyone else who buys from me in SLS. So I will leave you guys to sell there.

I think the strategy is not to keep getting cheap source, because the dealer will drive the price down. The best strategy is to create demand, get more people interested and when they buy, they buy more and more, then you specialised in certain brand like sunshine bar or something where no one else can beat you, hopefully everyone here can come to a conclusion to leave the seller a piece of the pie to eat.

Not like those newbies who comes in and want to wipe out all middle man and dealers, this will never work as small time buyer only buy very little, big time buyer upgrade to dealer, and small time buyer will not be able to buy direct, so the life cycle of the silver business will still be the same old BUSINESS MODEL.

Supplier - dealer - buyer

Let's keep it this way, let's not compete till we kill each other, be a good and honourable businessman and work with each other, occasionally I back off from offering lower price when someone else is offering lower, it's easy for me to say since I do not depend on selling silver as a living.

chef

PS My 2oz worth

Well, in that case, you are right, at that price, I do bear all responsibility.

The china supplier is right too, it's usually how it works when purchasing overseas.

Anyway, I will contact the china supplier and see if I can get hold of a few sets and bring it back, if it's available. so any takers and pre-order for this? Let me know. Personally, I think it's too expensive to own.

chef

Hi wolf, taurus,

I'm glad this was discussed, as this has been the age old problem every conventional business people face. How do we prolong the business and keep the profit high before killing each other with nonsensical low profit pricing. But of course, there are people who over commits their funds and want to convert their stocks to cash, then once they get the cash, quickly go and buy more stocks and back to same problem.

Wolf, you are not wrong, I see my mistake in dreaming of a perfect cooperative world. Although I just quit my previous job whereby dealers help each other to fulfill stocks, and occasionally meet at competitors when selling to same customer, but there is not animosity because it's business.

My only advice to sellers (selling to end user, not talking about the seller like gold chan or volume seller), as taurus mentioned, you can do very quick trading with small profit 10 times a year, but do take care, 1 mistake or a major drop in silver price can wipe out your 9 times tiny profit. The occasional special discount put out to us is welcome. Selling your silver bars at spot price EVERYDAY is driving off potential seller with good bars.

chef

My 2oz worth

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Added on November 7, 2011, 3:05 pmHey taurus,

Totally agree, I always advocate people teaching people how to fish, not just give them fish. It doesn't last, and once you stop giving the fish, they turn against you.

Good slogan, and please continue to help us doing more research. I really believe we are at a very very important time in history with silver and gold, and USD and RMB. I just can't seemed to clear my mind about the relationship. If you can write an article how we should profit at this stage in time, we'll all be very thankful

I've mentioned this to a few friends, I just can't seemed to get the right answers. How we juggle between fiat money and precious metal.

chef


This post has been edited by chef: Nov 7 2011, 03:05 PM

Hey guys,

I have some American Silver Eagle 2009 in possesion AND FIJI TAKU 2011 , anyone collecting this and interested to buy let me know, PM me o.k? quick deal thursday.

I'm coming up and will be meeting some of you guys, sorry no time to summarize now, but I will contact you to make the meeting.

chef

Ha ha, I wish!!

I am leaving for china thursday, so I have not get my hands on the goods or even know where to buy exactly. So I got to go there and search. Since I'm not getting any help here or direction.

Anyway, will update you guys if that area I'm going have.

chef

Same answer to this question all over the world.

When razor thing margin happened, it's bad news for the seller and good news for the buyer. But the problem is, since silver are not edible, all buyer will become seller eventually. So it really is bad news for ALL of us. Of course some will say that price of silver will rise and everyone happy. Well, only to those who hold long term and are not trading quickly, and those who hold them long, gets to sell not as high as they would hope.

chef

As for my trip, I'm gonna kill me some colored dragons, 9 of them. So watch out for the bodies when I ship them back... ha ha...

Great idea,

Maybe property101, you can call it the "Silver Arriving list" but you should have the exact description, qty, expected arrival and maybe target pricing.

This could also serve as a group buy, if a seller decided to bring in 200 pamp dragon 1oz, and a few of us placed an interest and paid some deposit, the seller may decide to increase the order. Win Win situation for all!!

chef

Aiyah! Just when I was about to make an offer here...

Price drop until so low, but dunno can trust those ebay seller or not, me, you can trust 100%.

I have got myself 2 sets in china, YEAH!! I Was hoping to offer the same price as, some one (I forgot who) who mentioned RM 6k delivered to your house, for friend, RM 5.5k, for others RM 5.8k... but now, no need to offer already, since can buy so cheap from ebay.

Anyway, My hunt was successful, I will bring back 2 sets, 1 for myself and the other, to be sold later if the offer is right. Whoever want it fast, can have it as early as next tuesday.

Hey property101, can you update the sell list for me? 1 set of 9 colored dragon for RM 5,800 delivered by hand to their door step.

stocks is running low, I'm told I am buying the last few sets, but I'm not sure other branch.

chef

PM me if you are interested or have counter offer.

Yeah, I wasn't thinking,

property, please help me swap my number to my email yeah? Thanks!!

chef

Wow, thanks for the headsup,

it may still mean it is poise for a springing jump. or downward correction. Well, I'm no expert, still hoping for a good chance to buy or sell silver. So any opportunity is a good opportunity.

chef

Hi property,

I think you have to refine the website, Let's say if someone put in a sell list or wish list of 10 immediately, that would push out some of the oldest new listing? or example in one day, there are 30 new listing being updated to your site, wouldn't yesterday's listing be pushed out? Maybe like someone suggested, time based listing is best. but set a limit on the number as well. I'm not sure how, but just some feedback.

chef

Hey, so what is the group purchase this time round? I really think I should join the FB group, but I never got around to get my FB up... too much work and travel.. but will get round to it next 2 weeks.

chef

This post has been edited by chef: Nov 14 2011, 10:02 PM

O.k... I admit, I'm lazy, ha ha....

I used to be the most technically advance people in my group, now I'm not even in FB, ha ha.... anyway.

I've created the account, finally. took me so many minutes, I will go and see if I can poison you guys any further, and see for myself the SLS FB how crazy it is.

so now, where's the link and how do I join? someone PM me?

chef

This post has been edited by chef: Nov 15 2011, 09:41 PM

It says this content is currently unavailable. ?? did I miss something? or my FB account was not created properly?

chef

Hey Basist, Thanks, already assist by spikyz.

Anyway guys, have you ever thought how valuable silver will be in different stages of time if economy collapse?

I'm not talking about deep fiat currency breakdown. Recently I saw some posting to sell of silver, I did so myself, but not many respond to request for purchase. imagine, this is during good times when people have money.

So if one day, all currency failed, what are we going to do with silver? can you imagine grocery stall saying, hey o.k. I give you 3 cans of sardines and 5 loaf od bread for 1 oz of silver. If you are the shop owner, the world is crumbling, you really want to swap your food for silver or gold?

Many of us are not exactly comfortable asking this question, but I was asking myself, I need to sell off some silver, how fat can I convert to cash? very slowly during good times. You think if economy is bad, people will be scrambling to buy your exorbitant priced silver?

comment anyone?

My personal thought is, silver and gold are good only if fiat currency is around to stay, everyone ask, how much do you think silver will be in 10 years time? we are still comparing it to paper money.

chef

Hey guys, leave more comment ok? I would like to know, is silver really a good investment? long or short term.

Even people like me who have been into this for a few months, I'm still doubting when push comes to shove, silver will survive as compared to gold.

I just watched the old STAR TREK again recently, they mentioned something, that the world no longer have a need for currency, everyone is working towards survival and to the betterment of human kind. Ha ha, of course that is sci-fi , but like I said, and what property has summarised,

Economy total breakdown, silver is useless, food is king.

Silver is only good when
(a) during good times when everyone is looking for park their money
(b) after total chaos and people start to pick up the pieces when food issue is resolved.


So to answer curzzie question, I think if there is hyper inflation, silver and gold will be the safe haven everyone will look towards to park their money, or another currency like RMB. So as long as there IS a economy related to currency, silver and gold will be important. Gold and silver, like maloney said, will maintain their buying power for houses and food, but not as if 1 bar of gold can buy a house, since real estate most likely will move along but at a slower pace.


The USA may use crude oil as the backing for currency, since they are trying to control the world's oil production. Gold and silver will be traded as secondary metal like platinum etc...

chef

my 2 oz worth.

Personally I don't believe much in real estate.

So maybe I'm not the correct person to comment, I hope some real estate sifu can answer.

But lookiing at the past experience, real estate can go both ways, during the 2008-09 crisis, US real estate are all going for a song, while singapore real estate price continue to shoot up.

Anyway past experience? usualy we have normal inflation, but hyperinflation will probably happen once in our lifetime, so nobody can predict how it will go. But I guess most people will want to keep the money in the bank for buying food and essential item instead of thinking about investment, so like cars, the price may just go down due to lack of demand.

chef

other comment?

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Added on November 18, 2011, 8:53 amby the way, silver is now USD 31 per oz!!


This post has been edited by chef: Nov 18 2011, 08:53 AM

Very interesting read, and eye opening.

I'm beginning to look from a different perspective towards real estate. Anyway, now THAT is really a big boys toys. I will dabble into real estate when I have upgraded to that level.

chef