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The personality of the collector, dealer, and the coin-how important is this aspect?
TahoeDale
Posts: 1,785 ✭✭✭
One of the relevant qualities of each of the above is personality- or as to the coin "appeal""
Every collector develops their own modus operandi, not only by the coins in their collection, but how they deal with the coin public. ( with the dealers, their fellow collectors, their close friends and associates).
All dealers have a particular niche of the market, and attract only a small portion of the collecting world. Auctions houses are somewhat more intrusive into all of our lives.
My opinion of the most important aspect of the dealer presentation is Honesty first, and quality coins second.
Of the collector-- he or she doesn't whine, and is knowledegable about their series.
Of the coin--not the grade, but the individual look.
Of the auction house--always there, and willing to work out any problem.
I think I have met, and done business with 100 dealers. I still do business with 30.
Probably over 200 collectors-- I correspond with less than 20.
5 auction houses-- I presently deal with only ONE.
Every collector develops their own modus operandi, not only by the coins in their collection, but how they deal with the coin public. ( with the dealers, their fellow collectors, their close friends and associates).
All dealers have a particular niche of the market, and attract only a small portion of the collecting world. Auctions houses are somewhat more intrusive into all of our lives.
My opinion of the most important aspect of the dealer presentation is Honesty first, and quality coins second.
Of the collector-- he or she doesn't whine, and is knowledegable about their series.
Of the coin--not the grade, but the individual look.
Of the auction house--always there, and willing to work out any problem.
I think I have met, and done business with 100 dealers. I still do business with 30.
Probably over 200 collectors-- I correspond with less than 20.
5 auction houses-- I presently deal with only ONE.
TahoeDale
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Comments
1) Honesty
2) Quality Coins
That is a ton of valuable information distilled into several bullet point phrases. Easily my favorite is:
Of the coin--not the grade, but the individual look.
IMO, there is way too much emphasis on the grade and not enough on the look. The advent of TPGs, registry competitions and wealthy folks battling to have "the best" certainly feeds into this.
Another point that you make, reading between the lines, is that, over time, the number of valuable contacts actually goes down, not up. I emphasize the word "valuable" because once you have made a contact, it probably exists until one of the two parties ceases to exist. However, negative experiences leave their mark and tend to make the collector not want to go back for more. I personally operate with a "two strikes and you are out" approach. Everyone can have a bad day, bad interaction, random screw up, etc. (including myself), but there are enough options out there such that repeated problems with a party do not make for a good long-term relationship, IMO, especially when the the number of options exceeds the amount of time and money to spend with coins.
I would say that I correspond regularly with 5 dealers, the same five for the last 3-5 years, and then with perhaps another dozen or so on the margins.
Through the forum, I correspond with scores of collectors but would consider myself to have about two dozen coin friends, on and off the forum, people that I like, trust, and whose opinions are valuable to me (and hopefully mine is valuable to them).
Like you, there is only 1 auction house worth working with for me, other than a random purchase here or there.
Honesty - I want to be able to trust them regarding what they say and what they do. I have "fired" a few customers for what I believed to be dishonesty or "jerking me around".
Reasonable demands regarding quality and pricing - I have no problem with "fussy" collectors - in fact, I like the challenge.
I don't care much either way, if they are especially knowledgeable or not. If they aren't, I enjoy trying to help them become so.
My preference (not insistence) is that those who buy from me are doing so, primarily as collectors, rather than investors. It makes my work a lot more rewarding and enjoyable.
<<Reasonable demands regarding quality and pricing - I have no problem with "fussy" collectors - in fact, I like the challenge. But I hope they are realistic about what to expect for a given coin type, grade and price. If I have fired any clients for being too choosy, I can't remember having done so.>>
I know you're talking about me so just go ahead and say it; I'm a grumpy, picky a__hole. That's why you won't sell me that beautiful evenly blue purple periph toned with a white center on both sides MS-63 Barber Half. I know you have one. The one I been looking for for 5 years. The one without a fingerprint and has never been dipped. I know that the PCGS Price Guide says $950 for a + one but that's crazy. You know I'll pay you $850 for one. I'll even take a 64 if the price is "right." Sell it to me Feld. I know you have it. I want it. Sell it to me.
My first coin show was dismal, and so was my last. It's odd sitting there at a table for me.
I went from having crappy coins to having even more crappy coins.
I remember my first show. Near the end of the show, one of the more "prominent" dealers came to my table and looked at my offerings. He looked up at me and said "It doesn't appear you have much to offer, yet I saw people at your table all day long, what do you have that attracts them ?"
I blushed and said "Personality, and it sure doesn't pay the banker, the IRS, or feed the children... though I'll have it until I die" He looked at me and said : "What ?". I smiled and said "Debt".
You made some valid points, from the dealer side. But of course, all of your responses are good, and usually on point.
I do have a question: Have you ever tried to advise a collector, who appears to be just too fussy toward, or critical of
a coin's appearance/grade/price-- that it would serve the collector better, to just pass on the particular coin and keep his/her
nasty opinions to himself.
Unless he is seeking expert advice on the wear/strike of a certain date, for example, criticism seems to be less productive than flattery or saying nothing
offensive.
Another way the collector might phrase a question--is the toning showing up accurately in the image vs. it looks loke a POS. The former should illicit a description by the offerer
that is trying to help, rather than having to be on the defensive.
<< <i>Mark,
You made some valid points, from the dealer side. But of course, all of your responses are good, and usually on point.
I do have a question: Have you ever tried to advise a collector, who appears to be just too fussy toward, or critical of
a coin's appearance/grade/price-- that it would serve the collector better, to just pass on the particular coin and keep his/her
nasty opinions to himself.
Unless he is seeking expert advice on the wear/strike of a certain date, for example, criticism seems to be less productive than flattery or saying nothing
offensive.
Another way the collector might phrase a question--is the toning showing up accurately in the image vs. it looks loke a POS. The former should illicit a description by the offerer
that is trying to help, rather than having to be on the defensive. >>
Dale, I have steered clients away from coins for various reasons (including negative comments they have made about the coins), on numerous occasions. But, in the case of my own coins, at least, I don't think I have ever advised the clients to keep their negative comments to themselves.
My feeling is that such criticisms, even if unfounded and/or over-done, still serve as potentially highly useful information. It might lead to fruitful discussions about the client's likes and dislikes and/or education for the client.
I Generally believe that any feedback (even if strongly negative) is better than no feedback. Of course, there are polite and impolite ways to provide such feedback.