How do you handle.........

[cpm9ball]

..........vest-pocket dealers at shows?

 

As a dealer who has paid to attend a show:

 

Do you find this group irritating?

 

Do you tend to ignore them?

 

Do you encourage them?

 

Does the "grapevine" among participating dealers alert others?

 

I am neither a dealer nor a V-P-D, and I've already formulated my own opinions. I'm just curious to know what other dealers think.

 

Chris

 

 

 

 

[BillJones]

The only thing that bothers me about vest pocket dealers at shows is when they try to sell items to non dealers on the bourse floor. Otherwise they don't bother me for the most part. When they are active buyers and sellers who can keep your revenue flowing, they can be a plus.

 

One vest pocket guy used to ask to take one of my coin to sell them to another dealer on the floor whom he knew wanted to buy it. After he did that once and kept my coin all day and then returned it just before the close of the show, I'd had enough of that. The next time he asked to take something, I told him to get lost. The trouble is I lost the chance to sell the coin for the entire day at the show and got nothing in return.

[cpm9ball]

Bill,

 

I knew I wouldn't be able to cover every possibility, but how would you handle one of these guys who tries to lowball you and sell to another dealer for a profit?

 

Chris

[e1cnr]

cpm9ball, what is your definition of a vest-pocket dealer?

 

 

If a collector brings some duplicates or old collecting interests and trys selling some to dealers, does that make them a vest-pocket dealer?

[cpm9ball]

cpm9ball, what is your definition of a vest-pocket dealer?

 

 

If a collector brings some duplicates or old collecting interests and trys selling some to dealers, does that make them a vest-pocket dealer?

 

I may not be correct, but I consider a vest-pocket dealer someone who "plies his wares" at a show without paying the requisite fees like other dealers.

 

Chris

[Nutmeg Coin]

There are plenty of dealers who set up at one show and then go "vest pocket" at the next. There are reasons to set up with the cases and the responsibilities of manning your table at a coin show, and reasons not to. There is no special grace attached to someone who stays behind their table the whole show and no real shame attached to buyers, or even hustlers at coin shows as long as they follow the rules.

[okbustchaser]

 

I may not be correct, but I consider a vest-pocket dealer someone who "plies his wares" at a show without paying the requisite fees like other dealers.

 

Chris

 

In other words, a customer...

 

 

It's my feeling that most dealers have nothing against (and most welcome) VPDs unless, as Bill mentioned above he is buying/selling with other customers and cutting out the dealer who bought a table.

[BillJones]

Bill,

 

I knew I wouldn't be able to cover every possibility, but how would you handle one of these guys who tries to lowball you and sell to another dealer for a profit?

 

Chris

 

They don't bother me. If I get my price for something I am happy. There are some dealers who are determined to get top dollar for everything. I don't like dealing with them as a dealer and as collector. To me making a reasonable mark-up and turning over your inventory is key to a successful business. You keep your inventory fresh so that the collectors will come to your table or, if you have one, your store on a regular basis. At the same time you are not stagnant; you are always moving, which helps to keep you up with the market.

 

As I said before I object to vest pocket dealers selling to people without tables on the bourse floor. Most of the time you don't have worry with them because a good show promoter will make they move along, or in the worst cases kick them out of the show. The dealers are the people who have paid to do business. The others have no business doing business on the bourse floor except with tabled dealers.

[cpm9ball]

Bill,

 

I knew I wouldn't be able to cover every possibility, but how would you handle one of these guys who tries to lowball you and sell to another dealer for a profit?

 

Chris

 

As I said before I object to vest pocket dealers selling to people without tables on the bourse floor. Most of the time you don't have worry with them because a good show promoter will make they move along, or in the worst cases kick them out of the show. The dealers are the people who have paid to do business. The others have no business doing business on the bourse floor except with tabled dealers.

 

I meant what he said!

 

Chris

[Conder101]

I may not be correct, but I consider a vest-pocket dealer someone who "plies his wares" at a show without paying the requisite fees like other dealers.

If you make that "plies his wares to the general public" then I will agree. Someone buying from and selling to the dealers with tables, even if they are buying from one and selling to another I don't consider a VPD. They are either a collectors or, if they have a resale tax number, a small time dealer. If they want to sell to the general attending public though, they need to pay for a table.

[thebeav]

The only thing that bothers me about vest pocket dealers at shows is when they try to sell items to non dealers on the bourse floor.

 

Other that this, which is never to be allowed, I always thought VPD's were a useful part of a show. Many times I could sell them something because they knew someone else in the room that would pay more. I wouldn't have found the higher buyer, so I'm happy.

 

Paul

[Walkerfan]

It's tough for VDPs to find people to buy their wares on the bourse floor. Many attendees are just tire-kickers who bring their kids (especially at smaller shows)----you would have to find the right person with the money and the interest, especially for a higher dollar sale. You would have to make dozens of inquiries, which might create unwanted attention by organizers. Even still---it would be CHALLENGING nonetheless.

 

VPDs selling to dealers is perfectly legit----I do it all the time. Buying from one dealer and reselling to another is legit, also, IMHO but difficult to do for any kind of significant profit.

 

 

[Houston Investor]

I do business with Vest Pocket Traders at shows who come by my table both buying and selling. Sometimes they will have something I need I know I can sell for more or they may buy material which allows me to move it quickly at a modest instant profit.

 

I have no problem with them and am usually willing to look at their material.