Wednesday, August 15, 2007
The One That Got Away: Coca-Cola Memorabilia
I told you yesterday I would continue talking today about advertising. So here we go.
Several years back I recieved a call from a member of the Fulton family in Kentucky asking if I might be interested in buying some Coca Cola collectibles. They were one of the first distributors for Coca-Cola in Kentucky.
Back then I was just starting in the business. So when I asked what they were asking for the collection, the answer knocked me off my feet. $25,000 dollars!. At that time they may as well asked for ten million dollars.
But I made a huge mistake. Rather than trying to see what they had and what it was worth, I called a Coca Cola collector friend and told him to contact the Fulton family. You see, if I knew then what I know now, I would have come up with the money.
The collector called a doctor friend and they bought the collection together. It took several trips with a truck to pick the collection up.
There were tin signs from the forties and fifties still in the original boxes- each containing 12 or more per box. Later I was told that they took 10% of the collecation to the Atlanta Show. That small piece of the collection gave them all their money back plus a substantial profit. Can you imagine what the rest was worth? I'm sure they kept the best for their own collections, too.
There is always a way to make a deal work if what you are buying has enough value over its cost to you. So please remember that. Can you share a story where you didn't buy something you should have?