Attracting Sellers to my Table at Shows 0

[Tyrock]

Started doing local shows as a way to buy inventory for my small, part time coin business. I don't have a store so doing shows is a necessity if I want to have any chance at all of being successful. . No problem selling so far, but I'm having a problem buying. After three shows I had one person offer me silver rounds and that was it.  I know that at the shows there are established dealers with a following and they get a great deal of the walk in business. So how do I get people to offer me coins? My table is well stocked, neat and I have a buying sign. I treat everyone well and I'm networking successfully  with other dealers. In fact, that's going rather well. Granted, I'm new to shows as I haven't done them in years and maybe I need to give it more time. And money may be tight for people. How can a dealer at a show attract sellers to his table?  Any feedback would be appreciated. 

[Coinbuf]

Flashing neon sign that says "I need to buy!!!".   Ok in all seriousness I don't think there is that much you can do, dealers have been complaining about the inability to acquire quality numismatic coins for some time now.   Other than making your sign bigger than the other guys, make sure and ask anyone that walks up to your table not only are they are looking for anything but if they have any coins to sell.

[MarkFeld]

This won’t get sellers to your table, but it might help, once they get there...What about a handout and/or signs that say what you’re buying. And if you do that, don’t make your list too long or too narrow.

[RWB]

On 10/26/2021 at 8:07 PM, MarkFeld said:

This won’t get sellers to your table, but it might help, once they get there...What about a handout and/or signs that say what you’re buying. And if you do that, don’t make your list too long or too narrow.

Good idea -- give them something to hold in their hands. (If you can afford it,  a token with your name and contact info is something collectors will keep. Give them out freely. You might ask local merchants if you can put some on a sales counter, and offer them a commission on any purchases you make as a result....)

[Tyrock]

Thank you for the ideas

[GoldFinger1969]

On 10/26/2021 at 9:43 PM, Tyrock said:

Thank you for the ideas

I was told that 80% of the dealers' business is done BEFORE shows actually start.  I never knew that.

What about going to bigger shows ?  FUN ?  Big regionals ??

 

[Oldhoopster]

When I regularly attended shows, it wasn't uncommon for a dealer to ask if I had anything to sell, especially if traffic was slow.  Just be prepared to have a good, non-insulting answer when they pull out a handful of wheaties and low grade buffs from the 30s 

But if you don't ask, you never know.  Try it on the tire kickers and "just looking" crowd.  Maybe the person has a small inheritance but may be unsure how to approach dealers (coin shows can be intimidating to non-collectors).  

[World Colonial]

On 10/26/2021 at 10:58 PM, GoldFinger1969 said:

What about going to bigger shows ?  FUN ?  Big regionals ??

Sounds rather expensive for someone new and part time.  Partly depends upon location for travel costs but table fees are presumably (noticeably) higher.

[World Colonial]

Last year at the Atlanta ANA, I had dealers ask for the first time, though I hadn't been to a show in seven years, since the last Atlanta ANA.  I did bring some coins but asked too much and received no counteroffers.  (None of it is US.)

In today's market, I don't think I'd have much trouble selling what I want to get rid of, except for South Africa which I wouldn't sell to a dealer anyway.

I'd rather try to sell to another collector and avoid the intermediary.

[Jason Abshier]

Maybe give out business cards private appointments to customers , set out a small sign saying you’re only buying certain coins for certain series get expertise in certain series might narrow it down. Buying silver from sellers must be annoying while you’re trying to establish a coin collector’s business , everyone wants to dump their silver or junk bullion at a coin show instead of focusing what coin collecting is really about . You might do better online selling directly to other collectors 

[numisport]

As far as I'm concerned I certainly would not consider my prized Star coins for sale to a dealer for several good reasons. Often they cannot be replaced even with coins of higher grade. When you are offered premium coins are you prepared to pay 20 to 30 percent more ? I've paid up 500 percent for certain proofs that only exist in small quantities. As a dealer I assume you cannot play this market.

[GoldFinger1969]

On 10/27/2021 at 10:13 AM, World Colonial said:

Sounds rather expensive for someone new and part time.  Partly depends upon location for travel costs but table fees are presumably (noticeably) higher.

He can always split a table -- lots did it at the last FUN I attended.  Cuts your costs down alot, especially if you can drive there.

If you want your best shot at getting inventory, a place with 600 other dealers certainly stands out ! 

[World Colonial]

On 10/31/2021 at 11:09 AM, GoldFinger1969 said:

He can always split a table -- lots did it at the last FUN I attended.  Cuts your costs down alot, especially if you can drive there.

If you want your best shot at getting inventory, a place with 600 other dealers certainly stands out ! 

That might work if travel costs are limited or minimal.

My understanding is that most dealers make their money off bullion sales and buying cheap from walk-in traffic in their local store.

When I was a YN in the late 70's, local B&M supposedly paid 60% of Red Book with one noticeably lower.

Economics differ for on-line sellers and very with type of material.

[RWB]

Have you tried very large electromagnets? I hear that Fermilab's 6,800-acre site in Batavia, IL might have some used ones for sale or rent.

Perfect for the next "Chicago" ANA show.....

Edited November 1, 2021 by RWB

[TonerGuy]

On 10/26/2021 at 11:58 PM, Tyrock said:

My table is well stocked, neat and I have a buying sign.

How about a sign that says "I pay more" -- every dealer has a buying sign. Or "I'll beat other offers" or "I buy entire collections" -- Sometimes you might have to take a loss on some coins to be able to make money off the few that are truly special.

[RWB]

"We Buy Everything -- Even Granny's Knickers !"