Dick Osburn ANA show report

lathmach · August 9, 2009 11:34PM

This is only the second time I remember Dick complaining about a show.
It makes sense though. You can't sell coins to collectors that don't show up.

Dick's Report

As this is written we’re getting ready to return from the Summer ANA show in Los Angeles. I’d like to tell everyone that the market is healthy, but it’s hard to put a positive spin on this one.

We left for the show on Monday hoping that this would be the one that started to show a significant turn-around in what has been a rather listless market. Wednesday, the first public day at the show, was a good one for us. As usual collectors came from throughout the country to attend the show. Throughout the day we greeted a lot of our usual customers. Our sales were good, but the attendance seemed a little lighter than we expect at an ANA show. Results at the first session of the Bowers & Merena auction that night were weak. The pre-show auctions had seemed a little stronger, though a lot of the coins didn’t meet their reserves. I was hoping that this was the time the auction market would begin to revive, but it didn’t seem to be happening.

The results at the show got weaker as the week progressed. Most expected Saturday to be a big day, but it didn’t happen. There’s no way to say that it was anything but a very poor show. Attendance was extremely low, and I heard no reports of strong sales, only mediocre at best. The remaining sessions of the auction continued the weak results of the first night. It was a good time to be a buyer, but not a consignor. The combination of the weak national economy and the California location seemed to doom the show. The ANA didn’t help any by choosing a downtown location that seemed to be shunned by the local population. Either Long Beach or Anaheim would have been much better choices.

STONE · August 9, 2009 11:39PM

Things like this have to happen at some point!
But I'm not surprised about the results, it was to be expected after all of the show reports heard here.

sonoranmonsoon · August 9, 2009 11:47PM

Dick has a way of telling it like it is.

gsa1fan · August 10, 2009 12:02AM

Sounds like the dealers are forgetting all the BIG $$ shows in the last few years. Why don't all these folks with the "GREAT" ideas help out on the next ANA show? The economy dictates the market. I've heard good reports from collectors. I suppose it depends which side of the table you were on. Buyers market! Peace, Tim

ScarsdaleCoin · August 10, 2009 12:23AM

gsa1fan.... I think the 450 dealers who bought tables for thousands of dollars did their part

ricko · August 10, 2009 12:30AM

I would have been surprised if the reports told of booming sales and large attendance. Does not make sense due to economy and location. Both worked against this show. Cheers, RickO

intence · August 10, 2009 12:33AM

nice report. he tells it like it is.

RedTiger · August 10, 2009 12:38AM

<< The results at the show got weaker as the week progressed. Most expected Saturday to be a big day, but it didn’t happen. There’s no way to say that it was anything but a very poor show. Attendance was extremely low, and I heard no reports of strong sales, only mediocre at best. The remaining sessions of the auction continued the weak results of the first night. It was a good time to be a buyer, but not a consignor. The combination of the weak national economy and the California location seemed to doom the show. The ANA didn’t help any by choosing a downtown location that seemed to be shunned by the local population. Either Long Beach or Anaheim would have been much better choices. >>

That's it in a nutshell. Let me say the folks at the Dick Osborn table were among the friendliest and most helpful that I encountered. Nice coins too! Nothing on my want list though.

If a person goes back to the archives, there have been other reports from Osborn that were upbeat when most others were downbeat. For him to report a "poor show," means it was likely a crater for some of the marginal dealers.

As for buyers market on the bourse, I don't think so. Some dealers marked up for the show because of the sales tax issue. I have only seen two reports (MustangGT and BidAsk) that reported much luck buying, and BidAsk went as a dealer which likely helped him. Several others reported that they took home little, including me. Anecdotally, it seems like a lot fewer newp posts on the forum than usual for an ANA.

/typos

pennyannie · August 10, 2009 5:29AM

Dick has nice coins, Dick has killer nice coins. Dicks coins cost big $$. I love to look at his coins and he and his wife are 2 of the nicest dealers you will ever run across. Dicks coins are overpriced for this market. His cases are crammed full of killer coins with matching price tags.

lathmach · August 10, 2009 5:44AM

<< Dick has nice coins, Dick has killer nice coins. Dicks coins cost big $$. I love to look at his coins and he and his wife are 2 of the nicest dealers you will ever run across. Dicks coins are overpriced for this market. His cases are crammed full of killer coins with matching price tags. >>

Really think his coins are overpriced?
How many rare date, rare variety, Seated quarters do you have for sale?
Any at a lower price?

Ray

blu62vette · August 10, 2009 5:47AM

His table seemed like one of the busier ones in his section so I am a little surprised. Must have had several regulars coming by, but not buying.

droopyd · August 10, 2009 5:48AM

<< 

<< Dick has nice coins, Dick has killer nice coins. Dicks coins cost big $$. I love to look at his coins and he and his wife are 2 of the nicest dealers you will ever run across. Dicks coins are overpriced for this market. His cases are crammed full of killer coins with matching price tags. >>

Really think his coins are overpriced? >>

If they didn't sell, they are overpriced.

Mowgli · August 10, 2009 6:20AM

<< 

<< Dick has nice coins, Dick has killer nice coins. Dicks coins cost big $$. I love to look at his coins and he and his wife are 2 of the nicest dealers you will ever run across. Dicks coins are overpriced for this market. His cases are crammed full of killer coins with matching price tags. >>

Really think his coins are overpriced?
How many rare date, rare variety, Seated quarters do you have for sale?
Any at a lower price?

Ray >>

Ray - I would contend that his coins are overpriced and what you pay for is availability. It always take more effort to find a lot of his coins from someone else but they are always cheaper.

streeter · August 10, 2009 9:55AM

If they didn't sell, they are overpriced

I do not buy that statement. While I have never studied Osborn's inventory intently, it is not possible for me to say they are cheap or overpriced....but they may be priced in such a way to..1) negotiate, 2) to be able to accept unorthodox terms in this economy, 3) to deal with the CAL 9.75% sales tax issue, 4) to deal with credit cards.

And a host of other situations. And he does have some nice stuff. A lot of seated stuff seems undervalued to me. And to me, it seems that if a dealer cannot replace them easily, why chop the price to a level where they have to go away at a particular show. Sunday may have been the last day at the ANA but it's not the last ANA.

coindeuce · August 10, 2009 10:15AM

I'll side with those whose sentiment it is that Osburn's coins are overpriced to the market. I had a rather negative encounter with him(my opinion) two years ago at a Baltimore show when he refused to negotiate terms of a trade offer. Found out later that the coin I was interested in was a consignment to him that he wasn't willing to adjust his margin on. I've never been back to his table.

pontiacinf · August 10, 2009 11:48AM

major show bombs in LA, and people wonder...

mrpotatoheadd · August 10, 2009 12:07PM

<< I had a rather negative encounter with him(my opinion) two years ago at a Baltimore show when he refused to negotiate terms of a trade offer. >>

Personally, I prefer to buy from a dealer who will give me his best offer up front and not make me jump through hoops negotiating, but then, that's just me.

cupronik · August 10, 2009 3:21PM

Of course, one pays for availability; otherwise he doesn't get the coin. Another dealer-friend has the abrupt attitude, "If you don't like my
price, go and find your own." (Personally, I would at least add the wish of good luck to the prospective buyer as some sort of namaste.)

Fletcher · August 10, 2009 3:38PM

I only live an hour away but didn't go because of the downtown location. Put it in Santa Monica, Long Beach, or down in Newport Beach and I'm there ... but not downtown LA. Newport would have been great for everyone because out-of-towners could have flown into John Wayne.

BlindedByEgo · August 10, 2009 4:42PM

I personally had no desire to drive to downtown L.A. for a coin show. I hate DTLA so much I almost did handsprings when we switched corporate attornies to a firm in Century City

The only reason I go down there at all is to buy jewelry for my wife in the gold district. She's worth the aggravation.

RYK · August 10, 2009 9:19PM

I only live an hour away but didn't go because of the downtown location. Put it in Santa Monica, Long Beach, or down in Newport Beach and I'm there ... but not downtown LA. Newport would have been great for everyone because out-of-towners could have flown into John Wayne.

I personally had no desire to drive to downtown L.A. for a coin show. I hate DTLA so much...

If you can't get southern Californians to attend, how do you expect people from other parts of the country to do so?

OTOH, San Diego, IMO, is a great convention location.

pennyannie · August 11, 2009 9:15AM

From the times i have been around his table, he does not discount much. I do not say this as a bash. I think he has some of the nicest coins and he and his wife are super nice people. Over the years i have seen him at most of the Texas shows, small and large. As others have said you can find it cheaper but he seems to have multiplies of everything and then some. He is free to set the price as high as he likes on his coins. I like the guy myself but i feel his coins are overpriced and i have bought a few anyway. I feel almost every coin i buy is overpriced but i still buy a lot of them.

coindeuce · August 11, 2009 11:14AM

It's easy to over price coins that are on consignment. Especially when the consignor expects an unrealistic settlement, or the consignee is anxious to have an abundant inventory.

WTCG · August 11, 2009 11:24AM

<< I only live an hour away but didn't go because of the downtown location. Put it in Santa Monica, Long Beach, or down in Newport Beach and I'm there ... but not downtown LA. Newport would have been great for everyone because out-of-towners could have flown into John Wayne.

I personally had no desire to drive to downtown L.A. for a coin show. I hate DTLA so much...

If you can't get southern Californians to attend, how do you expect people from other parts of the country to do so?

OTOH, San Diego, IMO, is a great convention location. >>

Judging by the average levels of attendance of the Long Beach shows over the last few years and the quickly defunct Anaheim show that was owned by Sam Lopresto (which had basically no attendance) I don't think the ANA show would have been much better attended if it was held in Long Beach, Anaheim or anywhere else in the area. I don't think Newport Beach nor Santa Monica have convention facilities large enough to support an ANA size convention. John Wayne airport has far fewer flights and fewer connection options than LAX and airfares tend to be much higher.

I agree with everybody else that San Diego would be an excellent choice for an ANA convention. I also know that inquiries have been made towards San Diego. Unfortunately San Diego does not have enough local coin club support and the San Diego CVB has been unenthusiastic about hosting a coin show at the convention center. Although a good choice on paper and in the minds of many, I don't think we'll be going to San Diego for an ANA convention anytime soon.

claychaser · August 11, 2009 11:29AM

WCTG wrote:
>>

Judging by the average levels of attendance of the Long Beach shows over the last few years and the quickly defunct Anaheim show that was owned by Sam Lopresto (which had basically no attendance) I don't think the ANA show would have been much better attended if it was held in Long Beach, Anaheim or anywhere else in the area. I don't think Newport Beach nor Santa Monica have convention facilities large enough to support an ANA size convention. John Wayne airport has far fewer flights and fewer connection options than LAX and airfares tend to be much higher. >>

I think that for the people flying in or driving long distances, I think Anaheim would be far more attractive with an easy side trip to Disneyland for the family and the wider choices in hotels and restaurants. From what I hear of the Anaheim show, it was not worth a two hour drive, let alone a flight. And you do the Southwest option or the majors to ;pick from at John Wayne, albiet not the frequency o LAX.

Catch22 · August 11, 2009 11:44AM

I've never seen Dick have as many difficult coins for sale as he currently has. Years go by without seeing a 78-S Half for sale. Last I looked, he has four!

That's the only market report anyone needs.

Dick Osburn ANA show report

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