Buying collections - can this work?

[savedfrommyspokes]

In the past, I have bought out collections from collectors, usually by word of mouth. Besides the time, I have found that with what I have paid, this approach is generally fairly profitable.

However, some of the quickest money I have ever made is by reviewing collections and connecting the collector to an AH that would best serve their needs. A recent referral I made netted the collector nearly $30k for their collection and they paid me $500 for my time to review the collection (an hour or so), provide my recommendation on selling and reaching out initially to an AH. From a time standpoint, the several times I have made an AH referral to a collector, this has been my best use of my time for the money. In other words, being the middleman is more profitable than being the end seller.

If you have seen the you tube channel "Chasing Cardboard" https://www.youtube.com/@CHASINGCARDBOARD/videos , you will see Ty has taken multiple approaches to handling the sales of purchased collections. As he has evolved, you can see that he is now more likely to make a referral/help consign a collection than to rent a storge unit for a collection purchase.

So, while buying a collection is far more exciting, reviewing a collection and making a referral is much more profitable based on time spent/money earned.

[swarmee]

I would say no, that a card show is not the best plan for your time, cost, and effort.
Newspaper ads (pennysaver), Local Facebook Buy Sell Trade groups, garage sales, etc would likely have a better ROI on scouting out collections.

[gonefishin]

I'm imagining me as an attendee and walking through the show checking out the tables, etc. What will I see when I walk up to your space? What will you have to capture my attention? What will your marketing/advertising be that will make me want to talk to you?

Now let' say I do stop. I own a large vintage collection. What offers do you have or presentation will you give that would make me want to sell my collection to you? What do you offer that an auction house doesn't? What would compel me take the next steps in selling you my collection?

I'm guessing the majority of people that would stop and have a serious conversation would be someone that has a horde of over produced product from the mid-80s through the mid-90s they are tired of storing.

Vintage collectors, for the most part, don't reveal to people they don't know or trust items they have in their collection. For good reason, people are out there scamming and taking advantage every day.

Competing with auction houses when it comes to selling vintage would be tough. Even if they're not an auction house, there are many reputable dealers out there soliciting constantly for vintage product - Dean's is just one example.

Try it small scale at first. Set up a table at the local swap meet, have a yard sale with purchasing vice selling.

Analysis the cost, and include everything. Remember, if you're purchasing it resale, it adds on. If you're purchasing it to collect, just keep in mind.

Just some random thoughts. Keep us posted on your decision and plans.

[Mike D.]

If you can funnel all the folks walking around with briefcases of graded cards at shows trying to sell them to dealers your way, maybe the other dealers will pay your table fee for you.

[BobC]

Bring a briefcase full of cash to the show, and have it sitting out in the open where people can see it, sitting next to a big sign saying you're looking to buy collections (but not right out on the front table where some people also may be thinking about grabbing it and running). That cash will attract potential people looking to sell.

Unfortunately, you'll probably be lucky to even get 1 out of every 20 people coming to talk to you about it that actually have anything worthwhile. You'll also probably want to be sure you only go to shows in states that allow concealed carry so you can protect yourself, and be sure you have a proper license to do so, as well as friends to accompany and back you up, and protect you. That should hopefully work, until the police find out you have such cash, and then figure out a way to pull you over after you leave the show for supposedly changing lanes without signaling, or not using a turn signal at an intersection, and they stop you and end up doing an illegal search and taking your cash as an asset forfeiture claim. if you're lucky, they won't take your car and impound it as well, but don't hold your breath.

[Belfast1933]

Ummm - thanks?

(I had a feeling this question might generate some interesting replies - Net54 never disappoints)

[G1911]

Usually it takes longer to get weird.

[BobC]

Originally Posted by Belfast1933

Ummm - thanks?

(I had a feeling this question might generate some interesting replies - Net54 never disappoints)

You don't think putting out a bunch of cash will bring people to your table looking to sell stuff? If not, you likely don't understand the greed and desire of many people. It will also likely create a slight (actually more likely a big) bit of buzz at the show as people walking around start telling and questioning others if they saw the one dealer/seller with the briefcase full of cash. It WILL attract people to come see you, but it is also probably not a great idea for everyone for several of the negative reasons I also mentioned, for those that can't handle the negative stuff.

You might think I'm being some kind of a jerk, especially after your 'Umm - thanks?" comment/question. But I'm being fully serious if you want to get attention for buying stuff at a card show. Honestly tell me what other suggestion(s) by anyone else in this thread will likely get you more actual attention for what you want, faster and quicker than what I've suggested. Everything I stated is 100% logical, makes perfect sense, and/or is true. If you don't want some completely honest advice, don't go asking for it.

[Casey2296]

Originally Posted by BobC

You don't think putting out a bunch of cash will bring people to your table looking to sell stuff? If not, you likely don't understand the greed and desire of many people. It will also likely create a slight (actually more likely a big) bit of buzz at the show as people walking around start telling and questioning others if they saw the one dealer/seller with the briefcase full of cash. It WILL attract people to come see you, but it is also probably not a great idea for everyone for several of the negative reasons I also mentioned, that can't handle it.

You might think I'm being some kind of a jerk, especially after your 'Umm - thanks?" comment/question. But I'm being fully serious if you want to get attention for buying stuff at a card show. Honestly tell me what other suggestion(s) by anyone else in this thread will likely get you more actual attention for what you want, faster and quicker than what I've suggested. Everything I stated is 100% logical, makes perfect sense, and/or is true. If you don't want some completely honest advice, don't go asking for it.

Personally Bob, I love your plan and it would be an instant separation from the other guys. I'd use passable fake cash and a hired "security guard " for presentation.

How would you present to make an heir or widow with a pre war collection comfortable enough to approach your table?

[Belfast1933]

Originally Posted by BobC

You don't think putting out a bunch of cash will bring people to your table looking to sell stuff? If not, you likely don't understand the greed and desire of many people. It will also likely create a slight (actually more likely a big) bit of buzz at the show as people walking around start telling and questioning others if they saw the one dealer/seller with the briefcase full of cash. It WILL attract people to come see you, but it is also probably not a great idea for everyone for several of the negative reasons I also mentioned, for those that can't handle the negative stuff.

You might think I'm being some kind of a jerk, especially after your 'Umm - thanks?" comment/question. But I'm being fully serious if you want to get attention for buying stuff at a card show. Honestly tell me what other suggestion(s) by anyone else in this thread will likely get you more actual attention for what you want, faster and quicker than what I've suggested. Everything I stated is 100% logical, makes perfect sense, and/or is true. If you don't want some completely honest advice, don't go asking for it.

Sorry Bob! I thought your suggestions were tongue in cheek… now I get it! Set up a fake briefcase of $$ and a faux security guard.

I read your post too quickly - it actually sounds pretty funny (and could be effective, especially if I did this multiple times AND landed a few bigger deals this way to legitimize the gag set up.

I’ll have to think about whether I am up for that… but it is a clever idea. Again, sorry… I thought you were goofing with me. Apologies!

[Volod]

Originally Posted by BobC

... if you're lucky, they won't take your car and impound it as well, but don't hold your breath.

Good one, Bob.

[Exhibitman]

Bob:

As usual, TLDR.

Have a nice day.

[RCMcKenzie]

Shows are for socializing and networking. If I bought a table to sell at a show, it would be for fun.

If I were going to sell cards for a living, I would need an impressive website listing the card types I pay strong for.

I would scour eBay for card listings of the sets I know. I would look for things like "Lot of 74 1950 Bowman, mixed conditions." and that kind of stuff.

[babraham]

Originally Posted by Exhibitman

Bob:

As usual, TLDR.

Have a nice day.

I mean, that must have taken at least 25-30 minutes to type that up.