Flea market advice

I've been thinking about renting a space at the local flea market to sell some coins and other things. If it works out I plan on renting the space for the summer.

Any advice would be great. I already have some display boxes. I need to know what sells and what doesn't. I don't want to display too much. This is just a country flea market. I would think the high end stuff wouldn't be worth trying to sell. I thought maybe circulated Morgans and halves. Buffalo nickels, rolls of wheaties, Mercury dimes would sell. Maybe some state quarter sets.

I'm not trying to get rich (just yet). I just need to know the basics.

 

Log in or Sign up to hide this ad.

Sounds like you're on the right track with what you're looking to sell. It's doubtful you're going to move much high end stuff at small flea markets.

I'd seen some people with tubes of the State Quaters (probably from banks) selling them for 1.50 for older ones to .50 for newer ones. And they seem to move em.

 

I am a Flea,Flea Market GURU that is.OK.Here is my Advice. you want to display multiple types of items.Junk Silver semi nice & nice.Blue & red Seal Bills are always good.Expect people to be "rude" acting.and look and walk.stay very pleasant,dont badger people.They will let you know when they want to look.If you get too pushy or desperate to sell,they can sense it.seriously.and expect to sit there and have no one look.It takes time people will see you,next week they will see you again.after a while,they will realize you must be selling,or you wouldnt be there.that draws people in.birth year sets do pretty well.I was at the fleamarkets every weekend,for years.Also Keep a smile,dont act too board.Good Luck,If you need anything PM me,I have some good fleamarket sale stuff.I have some extra's from my currency set also.Dont get down,If you build it,they will come.

 

Pilkenton,
I have been working out of a flea mkt. for almost 7 years. Although, I don't sell my coins there. There's a guy that already does that. Flea mkt vendors are very competitive.

Don't go in thinking you're going to make money. You will have to build a reputation. I have discovered that customers will not buy, right away from an unknown vendor.

People that visit flea mkts. are usually repeats. They need to know you're going to be there for awhile.

The next challenge; most customers have what I call a flea mkt. mentality, they want something for nothing. Once you set a price, stick to it. If they are really interested, they'll be back.

It took me about a year to get established every Sat. & Sun., all 4 seasons. Now my customers come looking for me!

If you decide to do this you will need Patience.

Oh, what do I sell? Handmade soy candles. I do very well, it allows me to buy more coins :goofer:

Best of luck!!!!

 

Flea markets are like garage sales, ppl want stuff for next to nothing. Joe Smoe don't know a Walking Liberty Half Dollar from an American Silver Eagle. You will run into many ppl like that. Also, you gotta realize that alot of ripoffs go to flea markets and they will know you're a coin collector. Personally I wouldn't do it myself for security reasons. That said, there are other ways to sell coins besides ebay. You can list stuff on our open forum, I've sold a number of coins that way. You can also sell coins on craigslist, I have bought off of craigslist and I've gotten some good deals. I've sold on craigslist also, but most of the stuff I sold on craigs was musical equipment and not related to coins One of my best places to sell coins is at my coin club. It's your choice to sell at a flea market so I guess you will learn as you go. good luck

 

YEAH very important,when you leave the flea market,try alternate routes to get home,and dont stop at stores.There are scummies that will watch you.sad but true.

 

Are you guys saying that thieves are staking out flea markets looking for their next mark? I find that hard to believe.

 

I'm setting up shop at a local flea market this summer. My main selling point will be coins, though I will have other odd and end stuff (and if my garden outputs like I hope, may even sell some veggies!). I'm keeping my coin items relatively cheap and I'm selling sets of coins in frosted cases. Examples would be of the 2009 lincoln penny set, dollar P/D year sets and the westward journey nickel set. I figure sets would be more appealing to non collectors, since those people will be my main target. I also have a lot of coins in plastic 2x2s rather than your standard cardboard issue. All about presentation I say! Any way, the flea market I'm setting up shop at starts the first weekend of May and goes every other weekend. I'm not expecting to make much money. What my plan is to make enough to buy other coins (from auctions and other contacts) and keep coins I want/need, then re-sell the rest. Basically a way to fund my hobby.

 

I think you could also try some presidential dollars, and possibly coin folders. Some people may not be aware that there is a new program such as the "America the Beautiful" quarters. If you show them the folder, they will become aware and will have a place to put them.

 

I'm glad you mentioned this.

I decided to put together the 13-coin set and I bought 8 dozen holders from JP's Corner at a good price. Each holder has holes for the P&D of each issue - 2004 Peace Medal & Keelboat, 2005 Bison & Ocean in View and the 2006 Return to Monticello. There is also one hole for each year for the three different obverse Jefferson designs. I decided to use proof coins for these. I purchased bags from the Mint for all of the reverse designs, and I bought 9 rolls of proof coins from an online dealer.

My question is, do you think $24.95 with free shipping would be a fair price? I haven't even begun to put them together because I can't decide on a price.

Chris

 

My biggest concern at a flea market would be security and climate control.

Yes, there are thieves who work flea markets because there are no electronic detection devices like you would find in stores. They will often work in groups and split up in two's or three's. One or two will distract the vendor while the other steals whatever they can. They also work the parking lots watching for a vendor who works alone because they can't be at their car and booth at the same time.

Some flea markets are indoor and have climate control while others are outdoor with just a tent or tin roof over your head. If you live in an area like South Florida where the heat and humidity can play havoc with coins, you would definitely want to be indoors.

The "flea market" mentality works both ways. Not only do many customers expect to get something for next to nothing, but many vendors often show a certain amount of contempt for the customers as a preconceived, stereotypical cheapskate. Stay firm on your pricing, and only consider making concessions for the customer who is spending a lot. It is also a good idea to introduce yourself to as many of the other vendors as possible. They can often refer customers to you, but don't rely on them to keep an eye out for your stand if you have a nature call. If they have one or two customers of their own, they will forget you even exist.

Chris

 

I go to this flea market all the time because 99.9% of the time the guy is lower priced if something is a lot higher than normal I will be like I can go here to get it at this price but rather buy from you and he will look at his gray sheet and I will get it at a lower price. What does he sell? EVERYTHING,Large cents, Indian Heads, Wheats,Buffalo Nickels, Jefferson Nickels, Merc's, Roosie's, LSQ, Washington Qtrs, State Quarters, Mint/Proof Sets, Foreign Coins, Silver Eagles, Half Dollars, Morgans, a couple flying eagles, dollar bills etc. Only thing he doesn't sell is gold.

I agree with most people here; Security, How good is it? B. How well does that flea market do (from a marketing stand point so you can make money) C. People do like to pay next to nothing, D. How well can you build a good reputation?

Hope that helps

 

If you don't plan on making bare minimum profit leave that item at home...

 

All the time.

I know several flea market sellers who have been robbed on their way home over the years. One country flea market around here has 2 police officers who walk it the entire time looking for stolen items and making sure no one robs a vendor. They tend to attract some unwanted folks from time to time.

 

Good points on the people wanting something for nothing. It always seems that sellers price their coins higher then market. So I just haggle them down a bit and then buy. Always figured the sticker price was for the suckers. Though I do understand that a seller needs to make a profit. I don't expect something for nothing but I'm not paying above market price.

 

Last year I went to a flea market and their were 3 men in one booth. All 3 were very well groomed dressed like they were heading out to dinner and smiled constantly. They had a very large selection of coins and no business. They didn't fit into the surrounding enviroment. They had the appearence of pushy car salesmen, and it was a huge turn-off to most. I did give a quick peek and they were on me fast, these are beautiful, these are rare and so on. Blue jeans and a T-shirt are the way to go...

 

Sorry to disagree, but a close friend who works fleamarkets,selling coins,has been robbed at gun point 5 times.mainly when stops at stores on his way home.

 

Like it or not Mad is right. Coins = easy cash for people wanting money for drugs.

 

Thanks for all the good advice. Wish me luck!!!

 

I don't think it's that intense but just walking around you can see gang members and other dregs of society looking around trying to see what kind of krap they can create. Check it out, if you remember what I'm saying next time you go to a flea market just look around and size everyone up and you will see what I'm saying.