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Market Test -- Local Show
DRUNNER
Posts: 3,801 ✭✭✭✭✭
I've always felt as a collector that sitting on the other side of the table offered a perspective that might be useful and to that end, I've worked a table or two with dealer friends over the years. Circumstances have allowed me to take the time to purchase a table at a local (40 tables) 2-day Fri-Sat. show as a solo effort though, and I'm interested to see what it might tell me (to a limited extent) about the market at this time. Sure, there are a lot of variables that cloud the study and I won't cover them all . . . such as my total lack of Southern gold or Russ-type Kennedys (if they were hot, how would I know?), or the natural biases I have in what I have chosen to offer, or the pricing I might use, but overall, I believe I'll learn a bit about what is happening out there. To avoid any concern about misuse of the forum, I won't go into detail about what I'll be selling, but to me, it's all about 'eye-appeal' anyway. . . and that's what I'm bringing.
I started pricing 'inventory' with the (Morelan?) philosophy of being an "unmotivated seller" since this is a fun experiment and I really have no requirement to 'have' to sell anything. But in time, I got caught up in the excitement and mixed in a few items below bid . . . and a few 'plants' to see if anyone would look closely enough to cherrypick (no . . . nothing huge, just fun stuff) . . . and of course, a lot of items that I think have eye appeal. If they don't attract much interest, I guess I'll know I have minimal numismatic taste, but even that is good information to know.
All-in-all . . . it's been fun preparing for this. Selecting items that I can stand to part with (a challenge . . and they ARE NOT getting a crack at the 'good stuff') but also ones that had the character of pieces I like to buy was tough. Determining what (if any) premium the 'eye appeal' factor might have was also tough. But I'm prepared, organized, and excited, so we'll see if I can have some fun. I'm wondering what the dealer set-up time will be like . . . when I approach this show as a collector I usually get hit up right at the door by several dealers who know my particular collecting interests asking, "Bring anything to sell?" Might bode well . . .
No, I don't have any desire to be a 'wannabe' . I just want to see if how my collecting interests dovetail with the the numismatic market. I think we'll match up fairly well.
I'll re-post again after Saturday night with any observations, if relevant. Sorry about the length.
Drunner
I started pricing 'inventory' with the (Morelan?) philosophy of being an "unmotivated seller" since this is a fun experiment and I really have no requirement to 'have' to sell anything. But in time, I got caught up in the excitement and mixed in a few items below bid . . . and a few 'plants' to see if anyone would look closely enough to cherrypick (no . . . nothing huge, just fun stuff) . . . and of course, a lot of items that I think have eye appeal. If they don't attract much interest, I guess I'll know I have minimal numismatic taste, but even that is good information to know.
All-in-all . . . it's been fun preparing for this. Selecting items that I can stand to part with (a challenge . . and they ARE NOT getting a crack at the 'good stuff') but also ones that had the character of pieces I like to buy was tough. Determining what (if any) premium the 'eye appeal' factor might have was also tough. But I'm prepared, organized, and excited, so we'll see if I can have some fun. I'm wondering what the dealer set-up time will be like . . . when I approach this show as a collector I usually get hit up right at the door by several dealers who know my particular collecting interests asking, "Bring anything to sell?" Might bode well . . .
No, I don't have any desire to be a 'wannabe' . I just want to see if how my collecting interests dovetail with the the numismatic market. I think we'll match up fairly well.
I'll re-post again after Saturday night with any observations, if relevant. Sorry about the length.
Drunner
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I look forward to reading the "after" post.
Brian
I LOVE
An authorized PCGS dealer, and a contributor to the Red Book.
I think all of us collectors have dreamed about being dealers at one point and then came back to reality.
Cheers
leo
Drunner
<< <i>Interesting experiment... I have never sold a coin... nor do I have any desire to... but it will be informative from a neophyte's perspective to hear the 'selling' side >>
Heck, selling is pretty easy. I would love to spend a day buying, or trying to buy, from behind the table.
Bottom line . . . I'm a bit particular and really am interested in furthering my own collections, so unless someone offered me something I needed, I don't know that flipping the coins (or trying to) is my top priority. I'll just see what happens. Guess I'd better haul a bit of spare cash just in case. I'd hate to have to pass on that original roll of 1884-S Morgans for triple face . . . .
Drunner
Will look forward to the update after the show.
New collectors, please educate yourself before spending money on coins; there are people who believe that using numismatic knowledge to rip the naïve is what this hobby is all about.