Selling wax vs. selling singles

As many of you know, I own a card shop here in Topeka, KS. As the holidays approach, I'm asked more frequently if I'm buying cards or collections. As you can imagine, the majority of what people are trying to sell is 1985-1995 stuff that they held on to because everyone was convinced it would be worth thousands of dollars by now. But every once in a while, some decent stuff comes in and I'm able to pick most of it up at a reasonable price.

The more I deal with these small collections, the more I've realized how much I love buying and selling single cards. I love looking them up, figuring out the price that is both fair to me and to the customer, finding room in my showcase, and displaying them. I also love when customers come in and find that card they like, whether it be their favorite team or player. Knowing how much I pay for a card, and then what I can sell it for and making that sale, it's kind of a rush for me, as dorky as that sounds.

I know that as a shop, wax, specifically new wax, gets people in the door. Wax accounts for the biggest sales I make. But honestly, the mark-up on boxes are pretty thin and customers are increasingly buying wax online. As an example, Blowout has Bowman Chrome for $47/box. That's pretty much MY cost, so it doesn't give me much room to compete. Another example: a customer was able to pick up a 6 box case of Tier One on ebay for $395 last week. He normally drops quite a bit on wax in the shop, but I can't blame him for that price at all.

I guess buying and selling wax, as important as it is to the shop, has just become boring. I'm going to try some specials on singles for the holidays and really push those sales and see what happens. Do any other dealers feel that way?

Thanks for indulging my little rant there.

Not a Dealer anymore, but yes, wax always did WAY better than singles here too...

I sell more singles than wax. But then again, I make it a point to stock relevant singles at a good price.

Wax makes the hobby go round but there is nothing like personal interaction you get when helping someone finish a set or add a special card to their collection.

cgilmo said:

I sell more singles than wax. But then again, I make it a point to stock relevant singles at a good price.

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I also stock relevant singles and rotate the inventory so someone who came in my shop last month doesn't see the exact same cards rotting in the showcases. As far as pricing, I am WELL below market (Ebay) pricing on the majority of my inventory. The only cards where I am at ebay prices are local stars...Hosmer, Jordy Nelson, some Chiefs, etc.

It could easily just be a difference in the markets in which you and I operate.

Wax is 95% of sales in my shop, except around christmas. I get alot of moms, wives and girlfriends picking up singles for their collectors. I am in constant need of Julio Jones, Mark Ingram and Cam Newton stuff. Would love to hear what kind of promotions you guys run when things slow down. We have a trade night every month and give away a nice prize for everyone who bought a Hobby box during the month. This month we are giving away a Full Size Cam Newton autographed helmet.

From my experience of working at card shops. Wax keeps the money flowing, singles/supplies and other items make the profit.

Old Kentucky Shark said:

...As you can imagine, the majority of what people are trying to sell is 1985-1995 stuff that they held on to because everyone was convinced it would be worth thousands of dollars by now. ...

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Some things never change

Good luck experimenting with finding the right balance for you, I'm sure you'll find it.

Well, you're gonna have to keep the wax coming in. That is something I don't ever think will change. But like Gilmore said, keeping the relevant singles well stocked will help sales. I think what can kill a shop though is trying to sell singles that are nothing but base and minor inserts. In the last four years, I have purchased maybe all of 9 Bagwell cards from any of the 3 shops I visit. Because all they have is base cards or rinky dink inserts. Even for newer players, they may have a base topps rookie or bowman chrome rookie. But no autos or parallels. Bout the last time I got lucky with any of that was back in 2007 when Pence got big.

Also, keeping rookie cards of all the current stars is always a good idea. Sometimes you'll get a guy who wants to start collecting a sport or just wants the rookies of the best current(or even past) players. I know I've gone to my shop and walked out with Durant, Dirk, Montana, Elway, Marino, Ginobli, Horford, Kobe, Lebron, Wade, Melo, Brandon Phillips, Verlander, Adrian Gonzalez, Jeter, etc. rookies. Those, IMO, will sell quicker than autos of those guys because honestly, for autos or top tier cards of guys who aren't necessarily local stars, the market may not be there. Like me, I'm not going to start a huge Durnat collection any time soon due to cost and him not having ties to Houston(although him being a Texas ex helps). But he is one of the better players in the NBA and being able to walk into my shop and get a nice centered Topps Chrome rookie for cheaper than ebay prices was nice. But I doubt I'd go in there and fork over $1,000 for a nice low numbered rookie patch auto of his.

The locality of your shop to any of the star players should dictate the kinds of singles you have.