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Attending my first show as a dealer
Pokermandude
Posts: 2,710 ✭✭✭
This weekend in Edmonton, Alberta. I'm pretty exited. It's a very well-run show with mostly Canadian dealers, but a few from the USA as well. Small by American standards (~60 tables / ~30 dealers), but it's always jam-packed because it is only put on twice a year.
I did a little forum research for some pointers, but I didn't find much. Any help would be much appreciated! Even little things like how to best arrange my showcases, what to watch for to avoid five finger discounts, etc would be great.
I did a little forum research for some pointers, but I didn't find much. Any help would be much appreciated! Even little things like how to best arrange my showcases, what to watch for to avoid five finger discounts, etc would be great.
http://stores.ebay.ca/Mattscoin - Canadian coins, World Coins, Silver, Gold, Coin lots, Modern Mint Products & Collections
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Price your coins at least 15% more than you are willing to accept. Coin show goers like to haggle.
DPOTD-3
'Emancipate yourselves from mental slavery'
CU #3245 B.N.A. #428
Don
a purchase as part of the money they get back might be an older coin. I like to
give wheat back cents and buffalo nickels as part of the change. For the 6-10
years of age have some cheap foreign coins to give them. If we do not encourage
young adults and children then our collections will not be worth much.
DPOTD
<< <i>Get ready to have other seasoned dealers cherry your inventory on set up time. Feels good to make a few quick sales but they will leave you sitting all weekend with your weakest material while they get to sell your best stuff. It's best to stay strong early they will try to size up the new guy right away and if they really want something of yours they usually buy it at the end of the show. >>
A very valid point. Although I feel very prepared for this already. Varieties and cherry picking aren't nearly as big in Canadian numismatics as it is for American, but there are certainly some things I've missed. If I leave some money on the table even though they (dealer or collector) paid my full sticker price, all the power to them. It's all part of the game.
As for dealers trying to pick off my best coins, I have no problem staying relatively firm on my prices. There was a suggestion in a post I found on the boards here somewhere to just say something along the lines of: "Thanks for the offer, but I set up here in hopes of finding a retail buyer. Feel free to visit me near the end of the show though!". Being a collector at heart, I know how much time and effort went into tracking down certain pieces. I've already gone through most of my certified coins and and holding back anything I'd possibly have seller's remorse about.
<< <i>I have no advice to give you, but I sure would be happy if you returned here after the show and let us know how it was for you. That would be interesting. >>
I wouldn't dream of doing otherwise
Taler Custom Set
Ancient Custom Set
It being my first show behind the table, I didn't get nearly as much time as I wanted out on the floor exploring and checking out what was available. I did manage to pick up a few pieces on brief <10 minute journies across the floor. But with a table, your primary focus really has to be attending to customers at your table.
I arrived right around 7:45am shortly after it opened up for set up. I had one table and two coffin cases to start. I had filled my two cases and still had a lot of better material to showcase, so I tracked down an organizer and in no time I had a third case on my table to use.
As I was finishing my setup, a couple dealers were already picking through my inventory. I sold a couple US gold pieces to a dealer who specialized in them. A scarcer date Liberty head $10 piece and a common date Indian head $5 in AU+/maybe BU (I am terrible at grading those things, I've only ever owned two). The same dealer came back later after I had finished setting up, only made an offer on one more piece (a $2.50 liberty head gold PCGS MS62), which I declined on. Not long after, I overheard the same dealer speaking with another dealer who was inquiring about my material. I heard him reply something along the lines of "I've already picked it over". Made me feel good that I hadn't under-priced anything too badly!
I managed to sell a few higher value pieces (both coins and banknotes), in addition to quite a bit of gold, mostly fractional pieces. Certified Canadian coins didn't do nearly as well as I thought they would. What tended to sell at my table was what wasn't available anywhere else, largely that was pre-1933 US gold $2.50, $5 and some $10 pieces. I sold a good number of key date Canadian coins in the $50-200 price range, most of them to other dealers throughout the show. Sold quite a few modern 1/2 oz and 1/4 oz gold coins (both maples and commemoratives priced very reasonably).
I sold enough to pay for my table fees and then some. Gave out probably 100 business cards in total, so there will be a few potential sales and buy leads down the road as well.
It's enjoyable for me just to chat coins and tell stories about money, especially to people who are new to the hobby. The event was run very well, the Edmonton Numismatic Society does a great job and had a lot of volunteers from the club there helping out for anything. Including the time I caught my dealer badge on the back of one of my lamps, causing the fixture to fall and the light filament to break. Within minutes I had a brand new bulb installed and ready to go
All in all, it was a neat experience and I'll definitely be doing the show every time I can from this point onward.
<< <i>If you do price your inventory, pepper in various low priced items right next to high priced ones. Customers will always find something they can afford, and they will think they found your undervalued best buy items! >>
Close... It's a scientific fact and proven marketing strategy, that people most often choose the middle price. Present three choices and (if they can afford it) they'll chose middle priced.
Also, people like packages. I'm not condoning spurrier sets, but get creative. If you have a customer who is eyeballing two coins, offer a discount if they buy both
Amat Colligendo Focum
Top 10 • FOR SALE
Also, especially if you can tell that I am looking at several coins and trying to figure out which of the group to add to my collection, a well timed offer of a reasonable discount to purchase the whole group will surely get me to buy if I have the cash on hand. And if not, you can be sure that I will be back or complete the purchase after the show. Considering I am looking at a lot of ancient coins and trying to stay in the $50 range for denarii, if you give me even a $10 or $20 break that allows me to pick up the fourth fifth coin in one fell swoop you can be guaranteed I will be back for more.
I can also attest to the effectiveness of having a box of coins for kids. A true "junk box" of sorts, filled with stuff that you know isn't worth selling individually and also stuff you would be happy getting a few bucks for as it exited your inventory. Wheat pennies, inflationary notgeld, cash coins, you know. I typically do not want to go to a dealer table that is all common or generic stuff, or five collectors sitting around digging through junk boxes. I will stop if they have interesting material but I would rather not sort through that much stuff on a tight time schedule at a show. The reason I say have a low priced box is for the collectors like me who look to spend a few hundred dollars in 20 minutes but also have a daughter who is 10 and loves buying coins that interest her. Having a box for her to work through will guarantee at least a purchase from me if I was on the fence before that. Plus it is also just an easy way to get rid of stuff that you don't want.
There are a couple of dealers like Josh from Civitas and Kenn from Moneta who always seem to have a few boxes of ancients that are lower price (under $50) and mostly copper. I always like to stop by and see them because I get to dig around find some cool stuff to add to my ancient collection and also just spend my case money for the show. I get to buy at least something from the people I like that way even if I can not afford any of the higher priced feature stuff they bring to the show.
CICF and CSNS are coming up in the next month and I am getting excited just reading this post already, lol.
The only thing I definitely neglected was pictures! I didn't think to do a picture of my table and me until I was already half done packing everything up Sunday afternoon!
Taler Custom Set
Ancient Custom Set
Amat Colligendo Focum
Top 10 • FOR SALE
Sounds like you're having fun behind the table.