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Do dealers ever check other dealers' schedules to gauge competition at a particular show?
Longacre
Posts: 16,717 ✭✭✭
I am not sure how much dealers pay attention to what other dealers do. Does anyone know if dealers check the show schedules of other dealers, in order to determine the competition that they will have at a particular show?
Let's take a concrete example, which is partly based on reality, and partly not. I don't believe that Doug Winter is attending the CoinFest show. We all know and agree that Winter is a Southern gold coin selling God, who rightly commands a throng of Southern gold collecting followers, except for board member fc. Let's further say that there is another dealer who is just as good at selling Southern gold (which there is not, but let's assume).
Does Southern Gold Dealer #2 ever check Winter's show attendance schedule, to see if he will be at a particular show? If not, then does Dealer #2 have a better shot at being the only kid in town to sell Southern gold, and might see sales increase as a result? Or does each dealer just mind his own business, and does not worry about the competition at any particular show?
Let's take a concrete example, which is partly based on reality, and partly not. I don't believe that Doug Winter is attending the CoinFest show. We all know and agree that Winter is a Southern gold coin selling God, who rightly commands a throng of Southern gold collecting followers, except for board member fc. Let's further say that there is another dealer who is just as good at selling Southern gold (which there is not, but let's assume).
Does Southern Gold Dealer #2 ever check Winter's show attendance schedule, to see if he will be at a particular show? If not, then does Dealer #2 have a better shot at being the only kid in town to sell Southern gold, and might see sales increase as a result? Or does each dealer just mind his own business, and does not worry about the competition at any particular show?
Always took candy from strangers
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
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Comments
Two comments:
1. I highly doubt if dealers decide not to come based on the presence of other competing dealers. OTOH, dealers might check to see if other dealers are attending to gauge whether it is worth their while to attend.
2. Two specialty dealers in the same place may draw more specialty collectors, making it more worthwhile for both to attend. Have you ever noticed that Home Depot and Loew's are frequently within one mile of one another?
<< <i>You know, when I saw the title of this thread I knew immediately who started it without having to check to see who was the author. >>
I can spot a Longacre thread by the title at least 50% of the time.
<< <i>2. Two specialty dealers in the same place may draw more specialty collectors, making it more worthwhile for both to attend. Have you ever noticed that Home Depot and Loew's are frequently within one mile of one another? >>
Or gas stations across from each other.
The one I haven't figured out yet is 2 Starbucks right across from each other.
<< <i>
<< <i>You know, when I saw the title of this thread I knew immediately who started it without having to check to see who was the author. >>
I can spot a Longacre thread by the title at least 50% of the time.
<< <i>2. Two specialty dealers in the same place may draw more specialty collectors, making it more worthwhile for both to attend. Have you ever noticed that Home Depot and Loew's are frequently within one mile of one another? >>
Or gas stations across from each other.
The one I haven't figured out yet is 2 Starbucks right across from each other. >>
In the case of certain fast food joints, it is because the let one of them do all of the research to find a location and just purchase the closest lot to them. Much cheaper that way.
I have heard the Lowe's/Home Depot was related to the owners disliking each other.
I can't speak for other dealers, but the reason I may check whether another dealer is scheduled to attend a show that I am planning to attend is so I can plan on bringing some coins that the other dealer is more likely to buy. If the dealer is somebody who I have a good working relationship with then I may also dedicate some time for an appointment.
I have also learned that it doesn't pay to be preoccupied with preceived competition from others. Just put in enough effort on your behalf to satisfy your own accomplishment goals.
Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"