Collector's Universe buys Long Beach/Santa Clara shows.

[truthteller]

Always nice to buy a coin show when it's at its lowest point. Will Gmarguli be banned?

 

 

http://biz.yahoo.com/prnews/060712/law047.html?.v=62

 

Collectors Universe Acquires Expos Unlimited LLC, Operator of Long Beach and Santa Clara Coin, Stamp and Collectibles Expos

Wednesday July 12, 7:00 am ET

Acquisition Adds Revenue and Secures Key Grading Venues

 

 

NEWPORT BEACH, Calif., July 12 /PRNewswire-FirstCall/ -- Collectors Universe, Inc. (Nasdaq: CLCT - News), a leading provider of value-added authentication and grading services to dealers and collectors of high-value collectibles and to sellers and purchasers of diamonds and other high value assets, today announced its acquisition of Expos Unlimited LLC ("Expos"), a tradeshow management company that operates internationally renowned coin, stamp and collectibles shows in Long Beach and Santa Clara, California. The Company paid $2.4 million in cash at closing for Expos and, depending on the future financial performance of Expos, may become obligated to make contingent payments of up to an aggregate of $750,000 over the next five years.

 

Expos promotes, manages and operates two venues of collectibles conventions which, on a combined annual basis, are believed by Expos to comprise the largest gathering of coin, stamp and collectibles dealers and collectors each year. The Long Beach Coin, Stamp & Collectibles Expo (the "Long Beach Expo" www.longbeachexpo.com) has been holding coin shows since 1964 and is currently managing a three-day show held each February, June and September at the Long Beach Convention and Entertainment Center. Expos also manages the Santa Clara Coin, Stamp & Collectibles Expo (the "Santa Clara Expo" www.santaclaraexpo.com), a four-day event held at the Santa Clara Convention Center in late March/early April and in November. At both the Long Beach and Santa Clara expos, leading numismatic, philatelic and collectibles dealers offer rare and valuable collectibles to the public, while auctions of coins and currency are conducted alongside exhibitions of major numismatic and collectible interest.

 

Michael Haynes, Chief Executive Officer of Collectors Universe, commented, "Our strategic acquisition of Expos underscores our mission to enable and facilitate transactions in our targeted collectible markets. The Long Beach Expo is one of the most important shows for PCGS' on-site coin grading services, and this acquisition reinforces our competitive position by securing this venue for Collectors Universe. The Long Beach Expo has been one of the most important collectible shows in the world for over 40 years, and it is the only private, for-profit large coin convention. By acquiring Expos, we believe we can create incremental revenue streams by adding other collectibles categories to the Long Beach and Santa Clara shows, such as autographs and sports collectibles, to create additional on-site grading opportunities."

 

Expos Chairman Ron Gillio remarked, "I am excited for Expos to become a Collectors Universe company. I have known Michael Haynes and Collectors Universe co-founders David Hall and Van Simmons for many years, and PCGS participation as a tableholder, numismatic consultant and on-site grader has contributed significantly to the success of our shows. By teaming up with Collectors, we foresee additional opportunities to make the Long Beach and Santa Clara Expos even more vital to the collecting interests of our core coin and stamp enthusiasts and dealers. In addition, we plan to explore the possibilities for leveraging Collectors' deep relationships and expertise in other high-value asset classes, such as autographs and sports memorabilia, to create new and exciting exhibition opportunities for our venues. Expos will continue to be operated from the current offices in Santa Barbara, California with the same staff."

[JamminJ]

Free admission for Hawaiian shirts!

 

I wonder if this will halt the long slow decline or just hasten the death.

[gmarguli]

Very odd purchase. The shows have not exactly been receiving high praise lately and a lot of complaints from dealers about the cost of a table. There is some competition and not much preventing people from switching over to a competing show.

 

$2.4 million for two shows. I question whether there is enough profit in them for that size of a purchase.

 

Bad purchase.

[Brotherman]

Free admission for Hawaiian shirts!

 

 

Hays

[HaydenTubbs]

 

 

 

 

It just makes you wonder what they'll buy next,the Coins section of eBay?

[Bruceswar]

Very odd purchase. The shows have not exactly been receiving high praise lately and a lot of complaints from dealers about the cost of a table. There is some competition and not much preventing people from switching over to a competing show.

 

$2.4 million for two shows. I question whether there is enough profit in them for that size of a purchase.

 

Bad purchase.

 

Something tells me this is not all about the money.. The numbers don't add up if you ask me. I think this was just another pub stunt, and now they have 2 shows which can be branded as PCGS shows. When its all said and done, I think they will make some good out of it for themselves.