Book value is $185 - our reserve is $195 and BIN is $275

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Posted By: runscott 

Very straight forward, anyway. I don't really understand these auctions, and apparently no one else does either: http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=2722687624&category=31718

I'm also having a difficult time understanding the super-high BIN auctions for t206s that seem to be so popular with sellers lately. If buyers wanted to pay 1 1/2 times book value, they could just call up some of the dealers who mail out catalogs.

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Posted By: jay behrens

I don't really see a problem with it. Sure, doesn't seem to bright, but this is how 'book' values change. If all the sellers all of the sudden decide to start charging outragous prices and can afford to sit on the cards for extended periods of time, then collectors need to decide just how badly they want these cards.

eBay has helped greatly to make the market much more fluid and you won't see the sort of price fixing that went on in the 80s. It's the sellers's money, and if they want to spend the money to post an outrageous BIN, that's their choice.

Personally, in the sports market, I don't think this is too bright, but with items like my Wild West cards, posting a reserve/BIN can novices a perception of what a might be worth and help drive the auction since there are no price guides out there.

Jay

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Posted By: MW

Scott,

I think what you are seeing is a marketing ploy by some GAI sellers to artificially inflate the price of "1st graded" cards (check out the label). So far, collectors aren't buying it (both figuratively and literally)...and I doubt they ever will.

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Posted By: kyle lentine

What do they mean by first graded. Is that implying first time graded by GAI or first time graded by any company or??

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Posted By: jay behrens

first time graded by GAI. Really nothing special about it. Neat bit of info, but worth paying a premium for. I can't even imagine anyone trying to put together a complete set of 1st graded for any set. The graes involved are totally hit and miss.

Jay

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Posted By: Nick

The value of T206 commons graded "7" by PSA typically sell on EBay higher than their SMR value of $185.00. I have sold a few if you look at the history they are selling in the mid to low $200's.

I think the jury is still out on GAI, so it is tough to compare apples to oranges. As far as the first graded thing goes, I think it is silly. But there is someone out there who does not. I think they have succeded to a degree with the idea just because it is generating discussion.

The market for pre-war cards is great right now compared to the once hot 50's market which is now ice cold. Ya know what they say...Buy low sell high!

I think this guy is a bit off in his price, but not by much.

Regards,
Nick

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Posted By: runscott

Obviously there was a slight marketing problem, regardless of actual value.

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Posted By: Nick

The $36 bid is moot as the seller disclosed the reserve. Bidding anything less than the reserve would be futile.

Nick

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Posted By: jay behrens

Not really. I've bid reserve auctions where I was the bidder and the seller ended up selling me the lot anyway. So it never hurts.

But I doubt this seller is willing to budge.

Jay

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Posted By: runscott

Iraqui minister of information: "there is no card available - it sold for $195 as the result of brilliant marketing"

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Posted By: leon

that was funny as sh**

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Posted By: Nick

There was no chicken little in that guy. I am sure he is still confident in the Iraqi militia er...military's progress!

Nick

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Posted By: runscott

He has amazing deadpan humor

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Posted By: BCD

No Jay. It's the first one graded in that grade first!