market soft and Mile High Auction

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Posted By: Brian E.

Has the market soften a little bit?

I ask because I cosigned a T206 Cobb GAI 2 w/ Carolina Brights reverse to Mile High for their recent auction. The lot closed at $570 not including buyers premium. http://auction.milehighcardco.com/displayitem.php?item=451&category=Closed%20Auction

The closing price on my Carolina Brights was about what a T206 Red Cobb with common back graded in Good condition would have brought on Ebay.

Was it unreasonable to expect a higher closing? I was expecting the lot to close between $1500-2000.

Brian E.

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Posted By: peter chao

Seems like a low price to me...or it could be simply the GAI holder. It seems like they are losing out in the grading wars. But still that would only explain a small part of the price drop.

Peter C.

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Posted By: James Feagin

It's because the card is in a GAI holder and is overgraded with paper loss on the back. The card is at best FR and GAI holder + paper loss on back = low prices. Mile High have also had their problems which could contribute to a lack of viewers/bidders.

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Posted By: Jon Canfield

Brian, one reason may be that despite the Carolina Brights back, the paper loss seems to counteract any additional value the back may have had. As this forum always says, buy the card, not the slab. I think in a PSA or SGC slab, the card would have been a 1. As such, I'm not sure it is much lower than the going value.

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Posted By: barrysloate

It does seem low, but one card is too small a sample to determine if the market is soft. I think you unfortunately didn't have the right combination of bidders. That can happen, and you can't predict it.

Edited to add I just looked at the picture and the back damage killed it. GAI cards are notoriously overgraded when they have back damage.

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Posted By: Phil Garry

Brian:

I don't really follow the 206's that closely nor the different backs for that matter so I am certainly not an expert on the subject but it appears lately that unless you have THE rarest or second rarest back, the price difference seems to be shrinking between the more common and more difficult backs.

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Posted By: Kyle

I thought my items sold low. Granted they're W's, but still lower than what I've sold them for in the past.

PSA 9 w512 Hornsby sold for $177. I had sold one a few months earlier for over $300 and sold a PSA 8 last summer for over $300.

PSA 10 w565 Gehrig sold for $589. Assumed it'd get twice that. I've sold 9s for $560.

Other PSA 9 strips sold for under $200 when I have gotten $300 in the past. Hopefully Goodwin's auction makes me feel better.

-Kyle

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Posted By: peter chao

Brian,

That goes to show you...you shoulda listed the card on our B/S/T first and then if you got no takers send the card to an auction house. I'm sure that many of us could use another Cobb in our collection.

Peter C.

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Posted By: Mark T

with stocks and the economy the way it is.

I think collectors are holding cash, waiting to see what happens in the next few month.

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Posted By: peter chao

You must be speaking about other collectors...I'm certainly not holding onto cash. I don't think my wallet has seen cash in a long time.

Peter C.

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Posted By: Mark T

I know what you are saying.

In general, when the economy is sound and the market is doing well collectors seem to pick up cards they want regardless of price. I am not saying the card market is like the housing market so it won't go flop anytime soon but this sub-prime credit mess is affecting everyone.

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Posted By: Steve Murray

"I don't think my wallet has seen cash in a long time."

I can personally vouch for that.

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Posted By: Ralph

Base Ebay as for how well the overall hobby is.The way to get more bids though is to get more hits is use every key word in your description,but don't let the ebay auctions predict the hobby as softening,just my two cents:)

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Posted By: boxingcardman

are not stable sellers. Neither are difficult but not rare cards in very low grade. Both are better sold on ebay where a buyer doesn't have to worry about a buyer's premium. Did the prices stated above account for the BP or was that only the hammer price?

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Posted By: Bob

It appears some collectors have a dislike for cards in GAI holders to such an extent that they veer away from the "buy the card not the holder" dictum and ignore the card. I recently had an Old Judge on ebay of a well known player, the card was a 2 and a very solid 2 but it got hammered price wise when compared to similar cards in PSA and SGC holders and even to raw OJs which looked trimmed or had back damage. I've normally received pretty good results with my cards on ebay so this one was a bit of a shock. If I had had any sense I would have ended the auction but we all deserve a nice deal from time to time and my buyer certainly got one.
I guess I hope this holds true in the future and the next time a nice e94 comes up on ebay in a GAI holder that everyone will likewise veer away and I can be the one getting the deal next time.