What do you do to find a new dealer to work with and how many "chances" do you give them b

keets

I'll generally work a "Want List" with only one dealer, no need having more than one person looking for something, right?? It can be discouraging sometimes trying to find a guy that'll produce. There have been several Forum dealers that I've tried to work with and I've had only moderate success and have pretty much abandoned them.

How long do you wait for a dealer to help you before you assume he's either not interested or may perhaps just be the wrong guy to find the material you're looking for??

Al H.

kieferscoins

6 months depending upon the types of coins.

Cameron Kiefer

Longacre

It depends. Sometimes I know right away whether we "click" or not

UncleWiggly

Not very long. Maybe 48 hours. And only one chance. And I'm not actually talking about producing, but getting back to you with even I'll look for you. I've emailed and PMd forum dealers before to make initial contact and never heard back. So, I didn't even get to the want list stage...and as far as I'm concerned never will with them. BUT, a couple forum dealers have contacted me, when new to the boards, offering their services. Now, that's not only great, but makes it fun! What do I do to find a new dealer to work with?
I go to www.coinsheetlinks.com and just start checking sites and cold calling people.


Jerry

kranky

Don't really have anything to offer but I wanted to say this is an excellent thread idea!

A lot of times people will say to go to a well-known specialist in a particular series, but I wonder if that's really effective. I suspect that specialist already has a number of customers who get "first shot" and you might be at the end of the line.

Fairlaneman

A list was left on a web site about two months ago. It contained probably thirty or more coins. Nada, nothing, zippo has been heard. Just a waste of time I guess.

Here is a 360 degree turn from the first try. A well know dealer that posts here every once in awhile was contacted yesterday with just a question about coins that they do not stock. Probably within a half hour a response was received asking exactly what was needed. After I responded the dealer got right back to me again with a possible buying deal that he might have. This will take a week or two but in my opinion his response time and willingness to go out of his way for something that is not usually stocked is well worth the wait and a credit to his company and himself. Now if only his source will come through with a coin or two.

Ken

JadeRareCoin

One of the biggest problems that we have with want lists are the price expectations by the customer. We can find just about anything, but it will usually cost real money. "Real money" is defined at anything over Bid. I have a customer who always calls looking for overdate Bust Halves in problem-free F-EF condition. We always have them, but he doesn't want to pay over bid. The last time we talked, he reflected on how crazy the coin market was because he cannot find ANY overdate Bust Halves for his collection. I still have his want list on file, but until he realizes that the Greysheet is for dealers only, then he will probably not own any overdate Bust Halves. BTW, regarding the Greysheet, we just ordered 4 rare coins from another dealer and we paid Trends on all except one coin, and on that coin we paid OVER full Trends. Some coins do not correlate to ANY price guide.

With regard to the want list that you have placed with us, we are actively working it. We have at least 20 coins in stock right now that approximate your desired coins, but they are not close enough for us to give you a call. Eventually we will find what you want.

I could tell you some horror stories regarding want lists, but I don't want to hijack your thread. Maybe some other time......

Dennis

RYK

Exellent thread!

To me, it is about relationship. There will be hot streaks and cold streaks, but over time, like all other relationships, if you are not satisfied, you should leave the relationship. Jumping quickly from one relationship to the next is probably not beneficial to either party. I have not worked a "want list" in the manner in which you are speaking.

mgoodm3

I have so many wants that I can generally find something that I like without a want list. Maybe a list will be more useful later as I get more stuff.

coinguy1

Some observations form a dealer's perspective....

There are many types of clients and thus many types of want lists - each client and each want list need to be treated on an individual basis.

A few of my clients have given me instructions to BUY such and such a coin as long as I like it enough and as long as I think the price is reasonable/fair. In these instances, if/when I see such a coin, I will acquire it without consulting the client, and know that he then owns it. Obviously, I will only make such a commitment if I have very good understanding regarding the likes and dislikes of the client.

In many other cases, clients have asked to be notified if I see such and such a coin. In those instances, if I see the right coin, I will try to get it placed on hold and contact the client to let him know about it. Sometimes the client is then ready to commit and other times the client wants to see the coin first. If I can get the coin on approval basis to show to the client, I will do so.

Some clients are either so choosy and/or so vague about their want lists (this is not a complaint, just a reality), that I would be extremely hesitant to acquire a coin solely on their behalf. Instead, I would be more likely simply to let them know if I have acquired such a coin through the normal course of stocking my inventory.

And, there seems to be a distinct group that wants to buy only through public auction. When that is their preference, I try to make them aware of coins that appear in auctions and, when possible, view the coins on their behalf and report back to them.

When a client contacts me about a want list, I try to let him know in advance, things such as:

1) The likelihood of my locating such a coin in such and such a time frame
2) Whether another client already has the same coin on a want list and will therefore have priority over him
3) Whether the coin is the type I typically handle, am familiar with, etc. And, based upon that, the probability that I will be seeing/handling such pieces.
4) Whether the coin is one which I expect to be able to acquire (at what will appear to the client to be) a reasonable price

I take a print out of my want lists to shows and carry it with me as I look at coins. I look at thousands of coins at each show and am sure that I sometimes overlook/miss want list items. I also see many coins that are on my clients' list but which I don't think are nice enough and/or which I think are priced too high.

Occasionally, I will contact a client just to let him know that I haven't forgotten about him or his list, but that I haven't found anything worth letting him know about.

mrearlygold

<< <i>It depends. Sometimes I know right away whether we "click" or not >>





Good answer.

Tom