Scenario #5 Using the following information, identify the entities and document a logical data model: The ACME coin company trades in rare coins. ACME provides appraisal services, buys, sells, brokers sales and auction rare coins. ACME has locations in five cities spanning two regions and have been in business of more than 25 years having traded in more the $20 millions in coins.
An appraisal is conducted for all coins, regardless of the customer's intent to sell. Each appraisals is registered to include information about the customer, the appraiser, the type of coin, coin condition and the appraised value.
If the customer decide to sell, ACME offers to buy the coin directly, broker the sale to a third party (.5% fee) or facilitate auctioning of the coin(s) at one of several auction houses across the US (.5% fee + Auction house fee). The registry is updated base on the disposition type.
If ACME purchases the coin, the registry is updated with actual purchase price and flagged as inventory. If ACME sells coins from inventory, the registry is updated with actual sale amount and date of sale. If ACME brokers the sale of the coin(s) to a third party or facilitate auctioning at one of several auction houses the registry is updated with suggested sale price, actual sale price and fees and date of sales.
Once ACME takes possession of the coins, the coins are shipped via armored truck to one of our three storage facilities for safekeeping until sale is finalized.