@ricko said:
Another variable would be whether you are a collector, dealer or investor.... I am a collector, therefore, I buy what appeals to me. An investor or dealer would be looking more at the financial side (i.e. resale, potential for value increase etc.). I enjoy the hobby. Cheers, RickO
I don't think the dealer really cares either. Dealers aren't trying to hold on waiting for appreciation. A dealer needs to understand the market as it is now.
LMAO, All dealers are holding and waiting for appreciation. Arent you? If not why not?
You laughed at a post that made a great deal of sense and then replied with something that wasn’t the least bit accurate.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
That made far more sense than your previous post.😉
Are you aware that it’s possible to disagree with someone, without clicking on “LOL”?
Well ya. Dealers hold (waiting) inventory hoping to make a profit (appreciation).
I use LOL for disagreement and funny stuff which are quite opposite. Up to you to figure out how I use it
Dealers typically make their profits by being able to achieve a higher sell price than buy price. The profit isn’t usually due to appreciation, however. It looks as if you might be using “profit” and “appreciation” synonymously, but they aren’t one and the same when it comes to dealing.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@ricko said:
Another variable would be whether you are a collector, dealer or investor.... I am a collector, therefore, I buy what appeals to me. An investor or dealer would be looking more at the financial side (i.e. resale, potential for value increase etc.). I enjoy the hobby. Cheers, RickO
I don't think the dealer really cares either. Dealers aren't trying to hold on waiting for appreciation. A dealer needs to understand the market as it is now.
LMAO, All dealers are holding and waiting for appreciation. Arent you? If not why not?
Dealer aren't speculators. They want to turn inventory quickly for a reasonable profit. They certainly prefer appreciation to the alternative while holding inventory that isn't moving, but that definitely is not the intent.
@ricko said:
Another variable would be whether you are a collector, dealer or investor.... I am a collector, therefore, I buy what appeals to me. An investor or dealer would be looking more at the financial side (i.e. resale, potential for value increase etc.). I enjoy the hobby. Cheers, RickO
I don't think the dealer really cares either. Dealers aren't trying to hold on waiting for appreciation. A dealer needs to understand the market as it is now.
LMAO, All dealers are holding and waiting for appreciation. Arent you? If not why not?
Dealer aren't speculators. They want to turn inventory quickly for a reasonable profit. They certainly prefer appreciation to the alternative while holding inventory that isn't moving, but that definitely is not the intent.
If the meaning was missed, perhaps it was because ErrorsOnCoins wrote “LMAO, All dealers are holding and waiting for appreciation. Arent you? If not why not?”.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
@Tom147 said:
Hadn't thought of it that way. Just can't seem to pull the trigger on my last empty space in my Kennedy set. The 2014 gold. If I'd bought it when I started the set it was $600 cheaper.
Look at the adrenalin rush you'll get when you do "pull the trigger".
We both know that you will but there is no clock ticking so wait for the perfect time.
Wayne
I'm curious. What is your time mark before you decide to sell a coin at a loss. For me in the past it was always a minimum of a year because that was how long it took for all my customers to see it. There was a time when I used to do almost 50 shows a year.
@ricko said:
Another variable would be whether you are a collector, dealer or investor.... I am a collector, therefore, I buy what appeals to me. An investor or dealer would be looking more at the financial side (i.e. resale, potential for value increase etc.). I enjoy the hobby. Cheers, RickO
I don't think the dealer really cares either. Dealers aren't trying to hold on waiting for appreciation. A dealer needs to understand the market as it is now.
LMAO, All dealers are holding and waiting for appreciation. Arent you? If not why not?
Dealer aren't speculators. They want to turn inventory quickly for a reasonable profit. They certainly prefer appreciation to the alternative while holding inventory that isn't moving, but that definitely is not the intent.
That is not what he said. His exact words are "All dealers are holding and waiting...." ALL the dealers I know would gladly flip 99% of their inventory immediately.
In fact, get ready for more LOLs from @Errorsoncoins, the vast majority of dealers would rather flip a coin for a LOSS now than hold it until an indeterminate future hoping for appreciation. Dealers tend to sell their mistakes, they don't hold them forever until the market catches up with them. We aren't infinitely capitalized.
I should make this a separate post so @ErrorsOnCoins can leave two LOLs. I have sometimes sold a coin at a loss mere days after buying it because I realized that I overpaid or because I missed a scratch or something when I bought it. I'd prefer to get some of my money back now than wait for years to get it all back. While I'm waiting, I could have turned over that same money 10x or 20x and more than made up what I lost.
I only ever knew one dealer ($40+ million net worth) who would hold for appreciation. In one famous case, they overpaid for a Proof Trade dollar and held onto it for 18 years until the market came back and they "made' $200 on the coin ($2500 coin). In fact, they essentially lost money on the coin because of the 18 year hold and resulting opportunity costs & inflation. But they refused to ever take a loss, mostly because they didn't have capital limitations.
Comments
You laughed at a post that made a great deal of sense and then replied with something that wasn’t the least bit accurate.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Dealers have inventories.
That made far more sense than your previous post.😉
Are you aware that it’s possible to disagree with someone, without clicking on “LOL”?
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Well ya. Dealers hold (waiting) inventory hoping to make a profit (appreciation).
I use LOL for disagreement and funny stuff which are quite opposite. Up to you to figure out how I use it
Dealers hold, awaiting a buyer. If they hold, awaiting appreciation, they are a speculator.
spec·u·late
/ˈspekyəˌlāt/
verb
2. invest in stocks, property, or other ventures in the hope of gain but with the risk of loss.
Dealers typically make their profits by being able to achieve a higher sell price than buy price. The profit isn’t usually due to appreciation, however. It looks as if you might be using “profit” and “appreciation” synonymously, but they aren’t one and the same when it comes to dealing.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
It looks as if you might be using “profit” and “appreciation” synonymously, but they aren’t one and the same when it comes to dealing.
...........
....
Two things can be true at the same time
I have bought many coins for the profit that also have appreciated, thus raising the profit.
I think you miss @ErrorsOnCoins meaning if he is like me. I'm not a dealer! I'm a collector/dealer!
If the meaning was missed, perhaps it was because ErrorsOnCoins wrote “LMAO, All dealers are holding and waiting for appreciation. Arent you? If not why not?”.
Mark Feld* of Heritage Auctions*Unless otherwise noted, my posts here represent my personal opinions.
Look at the adrenalin rush you'll get when you do "pull the trigger".
We both know that you will but there is no clock ticking so wait for the perfect time.
Wayne
Kennedys are my quest...
JM, I am certainly not the business wizard you claim to be.
I do know one thing.
Just about a year ago pre Covid, you and I had a long debate about me wanting to build inventory vs you insisting on flipping inventory.
Covid hit, shows closed, everything went online.
I made out OK
I'm curious. What is your time mark before you decide to sell a coin at a loss. For me in the past it was always a minimum of a year because that was how long it took for all my customers to see it. There was a time when I used to do almost 50 shows a year.
I am actually trying to build inventory again over a year ago
Very hard to find what I am looking for.
My hard work has allowed me to build inventory and cash levels over last year