I
METEORITE MARKET TRENDS
by Michael Blood
January 2012
As we face the dreaded final year of the Mayan calendar we come upon
TUCSON 2012. It is at the Tucson Show that many patterns of prices in
the meteorite market are established – or at least initiated for multiple
falls & finds.
This year will be no different, of course. One of the more interesting aspects
of the show is that meteorite collectors come for so many different reasons.
Some come to look for specific specimens to “fill slots” in their collections.
Some come as a “general excursion” to buy whatever they find that fits their
budget and have only general guidelines as to pre-supposed “target” specimens.
Perhaps the largest number come to find the very best bargains possible in
general with, of course, some budgetary pre-defined limit (which oh so often
gets “stretched” when one finds a “whattabuy!” specimen). There are those
that come with perhaps a very limited budget but enjoy the experience greatly
seeing so many different meteorites, touching base with old friends, hanging
out in rooms and chatting, checking in with dealers re their “best buys,” going
to the Birthday Bash, the IMCA dinner, The Tucson Meteorite Auction, chatting
in the café of what used to be Inn Suites but is now called something like City
Center (Tucson CANNOT keep any given motel with the same name for more
than a few years?) or munching a burger or dog out by the pool, checking out
the outrageous fossils, even though they may never buy one – well, maybe just
this little one….
Too much fun, folks. WAY too much fun!
There will be much more to be said about the Tucson Show AFTER the Tucson
Show…. Meanwhile, here are some hints for those NOT going to the show – and
even a few for those who ARE going….
1) Best buys: a couple weeks (now) BEFORE the show – either from dealers
offering sales – or, and this is important, if you have been eyeing a specimen
from a dealer but haven’t purchased it because of the price, phone him/her
up and begin a dialog of, “I have been really attracted to XXX piece, but just
don’t have the money at that price….I was wondering if you needed cash to go
to the Tucson Show if you would make me a deal on it….” and bargain from
there. Many if not all dealers are scrambling to make a buck to avoid going to
the show with empty pockets. Sale prices can sometimes get REALLY good –
clear down near or at what the dealer paid for a given item – especially if it
has been sitting around a while.
2) Sales immediately after the Tucson Show. Most dealers return from the
show totally spent – energetically, but most importantly for the collector,
money-wise. Quick recovery of at least some of one’s expenditures will result
in some very good deals – and likely the best deal you will be able to get for
the particular acquired item. For instance, let’s say a dealer gets a great
price on say a lot of S-A shrapnel – but he had to buy a LARGE lot to get
that price. So, he does so with the intent of doubling his cost and still selling
it as cheaply or even lower than what a buyer could get it for at the show –
but he has a lot of capital tied up & needs to recover some of it fast. You
might get an item you like at 75% or even 66% of what it would have cost
you had you been at the Tucson Show, yourself. Some dealers even sell
WHILE they are at the Tucson Show with laptops, cameras and upload
to their catalog while at the show. However, after the show seems to produce
the killer buys. Be aware this is a narrow time frame of about 10 days after
the show – sometimes up to 2.5 weeks, but that’s it. After that, they want to
make some money off all the time, energy and, most importantly, money
they spent.
3) If you aren’t going to the show, contact a dealer you trust and tell him what
exactly you want and what you are willing to pay. If it is a large enough amount
of money, you may just arrange for a “finder’s fee” of a given percent. Depending
upon the amount this could be from 10% to 25%. If you do this it is a very good
ideal to have him/her send you a cell phone photo to your cell phone to verify you
want that particular item at that particular cost. NOTE: this finder’s fee will only
be available for at least 3 digit items and most often for 4 digit items. No dealer
is going to go on a percentage for a $35 specimen. However, you can tell him/her
what you are interested in and the price range you are thinking about and s/he can
buy it for you if s/he finds one at a price worth his while – or, depending on how
long you have had a relationship, conceivably just do it as a bonus for your patronage. Remember, however, all dealers are working within a limited budget for themselves,
so, to buy for you is to deplete their capital.
4) Check out the Tucson Meteorite Auction and email or phone in a bid. Most of the
items are “No Minimum” – many a killer buy has been had by an absentee bidder
and if you don’t get it at the price you are willing to pay, it costs you nothing, anyway.
In addition, you will bid only against the in house bidders (and any other absentee bid
placed on the same item) with your bid going up only to the level it takes to win the piece.
In fact, this year, provided I get more than 8 or 10 items bid on I will be hiring a person
to do nothing but bid FOR YOU from the audience, trying to get it for you as cheeply as
possible. This leaves me clear to focus exclusively on the bidding and avoid loosing an
apsentee bidder's call when doing it myself. In addition, your item will be shipped with
whatever EXTRA padding is needed for safe arrival. (Keep an eye on the catalog as new
items will be coming in throughout this week to about FRI): http://michaelbloodmeteorites.com/AuctionTucson12.html
So, as we approach The Big One, those are my thoughts for those that can’t make it,
which is actually most of the collecting community.
And the beat goes on….
Until next time ~ HAPPY HUNTING! Michael
