I would like some feedback on a dealer/collector question
halfcentman
Posts: 1,498 ✭✭✭
Ladies and Gentlemen:
PLEASE OFFER YOUR OPINION TO THE FOLLOWING STATEMENT:
Do you believe that there is OFTEN an inversely proportional relationship between the amount of time a dealer has to spend with a customer, and the amount of money they spend?
Now, we are not talking about "fatcat" buyers here. I am talking about your middle-of-the-road collectors who spend about at most $500 and under on their items.
Your thoughts,
Greg
PLEASE OFFER YOUR OPINION TO THE FOLLOWING STATEMENT:
Do you believe that there is OFTEN an inversely proportional relationship between the amount of time a dealer has to spend with a customer, and the amount of money they spend?
Now, we are not talking about "fatcat" buyers here. I am talking about your middle-of-the-road collectors who spend about at most $500 and under on their items.
Your thoughts,
Greg
0
Comments
Back when I still dealt in copper, I had an EACer stop by my table... he had a dog-eared Sheldon book with all kinds of book marks in it... and he spotted a copper piece and asked to see it... maybe a $35-40 coin... he got all excited and sat down at the end of my table... pulled out his loupes (as in more than one) and opened up his reference ... 30 minutes later, he was still examining this coin while referring to the Sheldon book...
Meanwhile, I had at least 4 or 5 other customers walk up and ask to see coins in the $200-$2000 range and each made a decision within a few minutes and purchased at least one coin each...
After another 15 minutes or so, the EACer decided that his "find" was not exactly the variety he was looking for but would buy it if i could knock something off the price... no, he did not eat up alot of my time... just took a little space at my table for a spell... still found it oddly humorous...
One other little story... the day I KNEW I needed to get rid of my "economy" coins (ie Under $20 each with many at $2-5) ... a guy sat down at my table and went thru every single coin in the box... it was not that busy so I did not mind too much when 1 houl later he was still going thru the box and had yet to find anything to please him. I asked if he was looking for varieties (I have no problem with that... one of the more pleasant aspects of this hobby) ... he said no... anyway, I started to get some other "potential" customers and he continued his "search" for who knows what... finally, he picks out a coin... had a $5 price on it... and asked me "I like this one... but what is that small spot by the rim?" ... I glanced at it quickly and shot back (not my usual style) "it's a spot" ... he quickly put the coin down and walked away... I felt bad for being curt with him but had run out of patience with him... and the 'economy" box... sold the whole box to another dealer at the next show... a case of too much for too little...
My answer to the question, as posed, is yes. And I say that, despite the fact that I am usually patient with potential or current clients, regardless of how much time they take, and/or however small the size of the transaction.
Website-Americana Rare Coin Inc
<< <i>It's all over the map and I can't make a generalization as such. But I do get as much pleasure out of selling a $10 coin to a young person as a $1,000 coin to a more advanced collector. I suppose I should be more efficient with my time but I also enjoy the individuals I meet as well, at least most of them. >>
Great response. In a few years that young person may be buying $1000 coins from you.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>It's all over the map and I can't make a generalization as such. But I do get as much pleasure out of selling a $10 coin to a young person as a $1,000 coin to a more advanced collector. I suppose I should be more efficient with my time but I also enjoy the individuals I meet as well, at least most of them. >>
Please keep in mind that not everyone who starts out is a young kid. That 40 year old guy might be a new collector, too.
In fact one of the best things about numismatics is the constant learning one can do.
There is always something more you can do to learn more in a series, a new discovery to be made.
Even as a dealer one of my favorite activities is studying something new I haven't explored before.
And passing on what one has learned feeds the teacher streak in me!
Thanks for the kind comment Perry.
Website-Americana Rare Coin Inc
<< <i>
<< <i>It's all over the map and I can't make a generalization as such. But I do get as much pleasure out of selling a $10 coin to a young person as a $1,000 coin to a more advanced collector. I suppose I should be more efficient with my time but I also enjoy the individuals I meet as well, at least most of them. >>
Great response. In a few years that young person may be buying $1000 coins from you. >>
Or not
As to the original question, my answer is yes - and the behaviour is common to all areas of commerce, not just coins.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
I think people need to look at it with common sense... Coin dealers are in business to make money so I would think
someone spending alot of money will get the eye of the dealer quicker... BUT if I were in the dealers shoes I would try
to spend as much time with all my clients... regardless what they spend. Whoever is there first gets taken care first...
If the person is wanting to take their time to make a decision then I tell them exactly this... please take your time & let
me take care of these other customers & will be back to answer any of your questions...
This is a two-way street & both sides must give & take... if the client is the only one there I will talk to them as much
as they want... because even if they only buy a coin for a few dollars they may over time come back to buy other coins.
So all in all... I would treat ALL clients with the same respect & give each as much time as I could...
I personally do NOT like a pushy dealer... or like when the dealer doesn't seem to care to want to talk to me... I think
the dealers who show their clients they care & really are on the same level as the people wanting to buy their coins
will be very successful in business... I run into many who make me feel like I only mean a paycheck to them... I normally
avoid or will not deal with dealers such as this...
Lastly, one of the best things a dealer can do is to help the younger collectors or less knowledgable person... the rewards for
helping these people will be worth gold in the long run!!
That is my 2 CENTS!!
shasta7