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Legend Sale ??
Mowgli
Posts: 1,219 ✭
I qualify subsequent comments in that I have never bought anything from Legend - I could not be trusted with most of their coins if I could afford them.
I got an email telling that they were having a 5-20% off sale because they had to make room. They say they have 35,000+ coins in inventory. The number of coins for sale is between 125-130. That's about 0.4%. If they sell them all is that really going to solve their "room" problem?
I got an email telling that they were having a 5-20% off sale because they had to make room. They say they have 35,000+ coins in inventory. The number of coins for sale is between 125-130. That's about 0.4%. If they sell them all is that really going to solve their "room" problem?
In the land of the blind the one-eyed man is king.
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Will’sProoflikes
World Collection
British Collection
German States Collection
It was a big collection that they needed a truck to haul home.
Go to their site and read the historical announcement for further information.
Gotta love stuff on sale.....it's the American way.
<< <i>"Room" might be a metaphor for cash flow. "Room" might refer to the inventory they bring to the major coin shows. So the answer is yes, moving 130 coins might help if either of the above is what they are talking about. >>
That's how I read it. I would not want to trade place with someone having to catalog, grade, and price 35,000 Morgans, Walkers, and Mercs.
Legend is running a business, not a museum. Like any
well run business, if coins do not sell in a set period
of time, you lower the price. Better to make less profit
on sold coins, then full price on coins that have not
sold.
Camelot
If it is a sales "gimmick" or good advertizing or whatever, they must be counting on people not thinking. Why not just say we have some old inventory that hasn't moved and it is being offered at a discount - as if people who buy from Legend do so based on price. If they need room it seems that that monster collection has more than 125 coins in it that would sell before they even got them into inventory.
It just seemed ridiculous to make a big deal about trying to free up space and only have 125 coins on sale when the inventory is 35,000+ coins.
<< <i>I knew about the big collection. I know about selling old stuff. They claimed that it wasn't about cash flow/money. It was specifically to make room. If I have room for 35,000+ coins, how can I not have enough room for 35,125 coins?
If it is a sales "gimmick" or good advertizing or whatever, they must be counting on people not thinking. Why not just say we have some old inventory that hasn't moved and it is being offered at a discount - as if people who buy from Legend do so based on price. If they need room it seems that that monster collection has more than 125 coins in it that would sell before they even got them into inventory.
It just seemed ridiculous to make a big deal about trying to free up space and only have 125 coins on sale when the inventory is 35,000+ coins. >>
Many of the coins that are on sale have been in their inventory for a while and are not from this large collection. There's an 1860 Seated Quarter I'd love to own in that group up for sale.
The specifics of a dealer's business are generally not made public. Saying "We need to make room" is generally good enough excuse to have a sale. There is no law that says then need to disclose exactly why they are having a sale and I doublt they expected someone to take them literally. --jerry
Wwell there are two major differences. In the large 35,000 coin collection, there are at
least 125 very expensive coins. Perhaps not so rare in the mintage numbers, but condition
rare. A rare coin is a rare coin no matter how you slice it. I offered to keep the hoard in my
cave so I could play with it, but Laura politely refused my generous offer.
The second difference, is the fact that turnover means money and profit. If a coin does not move
fairly quickly, then the best way to handle that coin is to discount it and move it out. If more dealers
did this, they would not be sitting with mountains of stale, dusty, inventory on hand.
Camelot
i don't know who gives out POTD's or if they still do it, but this one qualifies. most excellent, as was the rest of your line of thought.
salami into a two pound grocery bag.
In this case , one must PRIORITIZE!
Camelot
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
Wow, that's what I call short notice!!!
Buying top quality Seated Dimes in Gem BU and Proof.
Buying great coins - monster eye appeal only.
And that 1860 25c they gots is manly!
and they're cold.
I don't want nobody to shoot me in the foxhole."
Mary
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