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What to do when.
Azurescens
Posts: 2,907 ✭✭✭✭✭
What to do when a good customer of yours has purchased a lot of inventory, has become a regular, is now willing to buy out your stock?
It's a bit less than I'd hope for, but it's all at once to someone with a big wallet, great guy, guaranteed safe sale. I have a bunch of nicer PCGS coins tucked away and it's probably big enough for them, too.
Should I wash my hands and be done with it or hang onto the coins and sell old and new over time?
This offer doesn't come in every day..?
Am I doing this wrong?
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Do you want to continue to deal? I would be inclined to sell if I could come close to break even, and then refine my collection/inventory. I'm guessing your eye for quality has improved over time.
Azurescens:
You have an opportunity to start fresh and focus on trends today. I truthfully don't understand the question. Flush your inventory, take a hard look at current trends and where the market is going. There is always a market for certified lower ended Morgans and the potential for loss is small. Small investment = small margins/small profits big volume. The market for Better graded Hard to come by rarer coins is the strongest ever and shows every sign of continued growth. Invest 10% of your money in 90 % of product in other words buy lots of what's cheap. Invest 90 % of your money in 10% of inventory. look for the best deals and hold on for them. I would bet that all your life you have "settled" for what you could get and later cursed that you had spent your money when that really great coin came by at a reasonable price and you missed out. What a great position to be in. I have seen TPG common Morgans in certified slabs for under $30.00 recently, and every auction I have seen with The Higher ended rarer coins have garnered great response. Be selective, look for the best of the best. How exciting to saunter the Bourse with lots of cash and seek out the true gems with intent to buy. Wow makes my mouth water.
Bob Sr CEO Fieldtechs
Bird in the hand.
Go on, take the money and run.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
Cash is king.
...WWTD?
Take the money and run.
whooo whooo whooo
what will you do in your [newly] free time?
BHNC #203
My way of looking at a situation like this is depends on what your plans are.
If you are going to continue to deal...the big question is will you be able to replace your stock for less than the sales price. If the answer is yes...take the money and go have fun replacing your inventory!
If you are not going to deal anymore it sounds from your description that you have a strong offer on the table! Do the deal!
Based on your description of the deal as fair, then it presents an excellent opportunity to liquidate, step back and assess your life position, and have the funds to either pursue a new direction, or re-enter the coin market from a comfortable position in a more selective segment. I see little downside to accepting a fair offer and the opportunity it affords. Cheers, RickO
Awesome. Thanks for the support and advice folks.
Send your buyer my way. Sounds like a dream come true.
Take the cash and buy new inventory very selectively.
For me, it would depend on my age, health, and plans for the future.
Faster than a cheetah with a puma on his tail...
I could see actually see this happening. Some deep pocket collector comes along and buys your amassed eye appeal that took more than a decade to assemble and countless hours of time searching for said items.
The deep pocket collector would be paying you for your time and the holding costs of a capital investment.
Go for it. If you are financially secure and have other interests pursue them. If you want to continue with dealing coins find a specialty you are fond of and comfortable with and start over. Sometimes selling what you have is almost as exciting as buying it in the first place. A deal like this doesn't come along every day.
it's crackers to slip a rozzer the dropsy in snide
I would also call your accountant (I know they are busy right now) and get their opinion and tax consequences.
do you want what you got or is there something else down the road that you would want later, thats how i see it (fwie)
Keep us posted as to your ultimate decision!
Nice problem to have. How important are your "other" customers?