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 Replies: 16 / Views: 2,994 |
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CCF Advertiser
United States
1533 Posts |
I've bought from a lot of dealers who then ask me for want lists. I've never given them out partly as I don't want to keep others updated on how my collection progresses and partly as I don't want to feel obligated to buy something I've said I want when I may not have cash or may have just bought something else, or I don't like the price. My biggest concern with circulating a want list is that when something I need comes up for sale in an auction format, at ebay, or GC, or one of the big auction houses, I may see a lot of bidding from dealers looking to buy the coin to sell it to me. Could I tell people wants and specify that I will not purchase if it was a recent auction sale? Do you circulate lists and how do you manage the issues? |
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Valued Member
United States
336 Posts |
I only give want lists to one dealer at a time and its one that I know and trust personally. Generally the items on the want list I give them are items I know I can trust that particular dealer to get the exact coin I'm looking for. Once I give a want list to a dealer, I no longer seek the coins out that are on that want list on my own since I know that dealer is looking for them for me.
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Pillar of the Community
United States
4469 Posts |
I have provided want lists to dealers and I have never got a top end coin from the lists. Most want the list, so they can sell you a coin that they already have in inventory.
The typical coin that I buy is under $1000 and dealers from this list can not make enough profit searching and then sell the coin at fair market value.
Unless you buy a lot of coins over 1K, I do not see much value in providing lists to dealers.
Edited by Slider23
04/24/2016 11:50 am
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Valued Member
United States
71 Posts |
I personally do not do want lists, even though I have been asked for them. Normally, I politely decline and tell the dealer that I will still continue to watch his/her inventory. Basically, once I have a good transaction with a seller, I will move them to a list that becomes part of my search routine. I'll go through their inventories first, before hunting down off of that list.
For me, the reason that I do not want to do want lists is because I find the hunt to be almost as exciting as the acquisition. I maintain checklists in the series that I want, which I will carry with me and update, but that is more so that I do not pick up duplicates or if I want to know if a particular specimen would be an upgrade over what I have. Like Slider23 said, I also do not just want to be a dumping point for a dealer's current inventory, either. I am not a high-value collector (at least not yet), so I would not expect the level of service that someone would get if they were dealing in four-figure coins, and up. That being said, if I was looking for a particular key date at a minimum grade, I would let a dealer know that.
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Pillar of the Community
United States
2543 Posts |
I have a want list with my dealer. If he gets a specific coin in, he checks his "want list" list and sends an email blast to everyone on the list. He just states, he has a coin on their list, if they would like to come in and look at it. Then it is first come, first served.
He doesn't hold coins, but he does wait a few days before putting it on display after the email. Although I am sure sure he holds very specific coins for very good customers.
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Valued Member
United States
57 Posts |
I've given want lists before, they took down my phone number and Email and said if they found anything they would give me a call.
Not one has ever contacted me.
Edited by Heavington
04/24/2016 1:27 pm
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Rest in Peace
United States
18456 Posts |
I don't like to give out want lists because I like to pick out my own coins at any time of my choosing , another words; if a dealer has my want list and buys a coin on the list ,shows it to me with his price and I really don't like it, it would put me in a bad position . Do I tell him no thank you, or purchase the coin anyway, to not make him annoyed with me.  |
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Moderator
 United States
188660 Posts |
I have been offered to leave one many time and have only ever done it once. It was not my whole list, just some of the things I was interested in at that time.
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Bedrock of the Community
United States
20753 Posts |
I've been asked many times for my list. I always tell them it would do you no good since I change it after almost every coin show. What good is a outdated list? They stop asking.
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CCF Advertiser
 United States
1533 Posts |
T-Bop, exactly so. Unless I am at the beginning of a set, like "I'm interested in XF Bust Halves" I won't do it. If I say I want an 1803 XF Bust Half in an NGC holder, what do I say when I don't like the coin or the price? Also, when one comes up in a Heritage or GC auction, will this dealer be bidding against me?
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Pillar of the Community
United States
2543 Posts |
It totally depends on what kind of want list your LCS takes or you leave. My LCS doesn't go out and find coins for people's want lists. They buy collections and mint products as well as individual coins from sellers. Then just inform people they have a coin on their list. It is totally up to you to follow up. I have gone in before and found someone beat me to it. And have turned down coins I didn't like like the look of. A good LCS is made up of experienced coin people. If they don't understand the ways of a collectors, then you need to find another LCS.
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Pillar of the Community
United Kingdom
2624 Posts |
My want lists are not top secret but neither to I give them out...
When I attend a show I might make a list, I will often go to a vendor and say "have you got any of the stuff on there?" then I will take a look through it and try and get a group deal on a few pieces... cross them off and move on. I don't however leave the list with them, by the time they get an item I might well have purchased it elsewhere.
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Pillar of the Community
Russian Federation
5174 Posts |
Quote:
The typical coin that I buy is under $1000 The typical coin that I buy is under $5, $2, or $0.5, depending on your definition of "typical". I can probably count my $5+ purchases (per coin) from the last 16 months* on my fingers - there just aren't many. (As far as the same 16-month period is concerned, my median purchase price per coin is probably under 20 cents; average not much higher.) Quote:
I don't like to give out want lists because I like to pick out my own coins at any time of my choosing; in another words, if a dealer has my want list and buys a coin on the list, shows it to me with his price and I really don't like it, it would put me in a bad position: do I tell him no thank you, or purchase the coin anyway, to not make him annoyed with me? This basically. Even without want lists, I've been through too many rounds of "What do you want? (I explain) - okay, here's it, $5... no, that's far too expensive, sorry". (Sorry, T-BOP, I edited your punctuation slightly.) *) the exchange rate spike in November-December 2014, i.e. 16-17 months ago, was so significant that pre-spike and post-spike purchase prices are hard to compare seriously |
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CCF Advertiser
United States
1533 Posts |
I buy stuff that is hard to find and worth a sale if you have it, so I wouldn't want to compete with myself when it comes on the market by creating a bunch of dealers that see a way to make a few hundred bucks by buying something from the same channels I buy from. On the other hand, if they buy a collection, I'd like to be notified if there is something in there I want. Mixed feelings about it all.
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Valued Member
81 Posts |
Heavington what is on your want list perhaps I can help you!
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Moderator
United States
188660 Posts |
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Replies: 16 / Views: 2,994 |
Posted 04/24/2016 11:48 am
