Does anyone know the economics of the coin show promoter business? It is possible to lose money?
Longacre
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In another thread, someone mentioned about the lack of attendance at a recent show in Nashville. Immediately, my heart went out to the show's promoter, because I automatically assumed that the show generated a loss for the promoter. However, as I thought about it further, perhaps the show promoter made just as much money with a lackluster show as they would have had the show been a barn burner. The amount of table fees received are the same, and in advance of the show, they should have calculated what they charged in fees versus their expenses.
Does anyone know the economics of coin show promoting?
[As an aside, I was eating lunch with The Man today at a local restaurant, and as we were speaking, he put on his glasses. He typically only does that when a pretty girl walks by, so I looked over and was a little distrubed when I noticed he was looking at an old lady at the next table. He must have noticed my quizzical look. He then replied, "hey, that's Joanne Woodward." After reminding Longacre who that was, I did then recognize her.
Does anyone know the economics of coin show promoting?
[As an aside, I was eating lunch with The Man today at a local restaurant, and as we were speaking, he put on his glasses. He typically only does that when a pretty girl walks by, so I looked over and was a little distrubed when I noticed he was looking at an old lady at the next table. He must have noticed my quizzical look. He then replied, "hey, that's Joanne Woodward." After reminding Longacre who that was, I did then recognize her.
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
Promoters have to pay the rent just to plan the show. If thay don't sell enough tables to dealers, the show will be at a loss.
Brian
Edited to add: yes, a coin show promoter can lose money.
When you start a new show, location and advertising are the keys. You also need to establish a reasonably consistent date and location. Moving the show around is no good. Some regional collector organizations never learn that message.
For dealers sales are everything. A couple bad shows in a row, and they are out of there, usually for good. As a dealer I remember one well-known exonumia dealer telling me at the end of a Boston show, “If you see me at this show again, please kick me in the a$$.”
Depending upon the amount of advertising money Whitman spent on the Nashville, they might have made a small net income. Given the comments I heard from the dealer refugees from that show the next one, if there is a next one, could be make or break time.
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Wasn't it the guy selling pick-axes and shovels ? I don't think economics change much in regard to your excellent questions, but as my experience has taught me about coins, dealing them is a lot harder than promoting them.
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I enjoyed "Art Linkletter's House Party" when it was shown in the 1950s and early ‘60s. The one episode I really remember was when a guy showed up with one of the 1804 silver dollars, and he and Art talked about it for about 5 minutes.
You have to understand that I was a weird kid who was always 9 or 10 going on 30. I thought that the kids he interviewed during the second half of the show of the show who told him that George Washington or Abraham Lincoln was the current president when the correct answer as Eisenhower were a bunch of dummies.