Quote:
Originally Posted by Arazi4442
I had a quick question about Heritage. I was looking at some of the 19th century cards and noticed the 1887 Old Judge John L. Sullivan. It was graded PSA 1 (much nicer looking but with some paper loss on the back). HA set the estimate at $2K+. That seemed high and I found that a similar card graded SGC 3/40 sold on PWCC last December for $620. Where does Heritage get their estimate? Some of the ones on my watch list sold for less than 60% of the estimate (68 Bench PSA 10). Are they just trying to increase the sale price or do these estimates come from somewhere?
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Their estimates are all over the board - I've seen estimates that are 5x what the selling price should be, and the items don't get any bids at all. And then there are items that go 5x what the estimates say, since they low-balled it.
As tempting as it can be (and I certainly look at what their estimates state), try not to pay too much attention to them, and as you did, look for similar recent sales to give you a better ballpark of what to expect to pay.