Fair market value and market price are two completely different things.

If I were to enter into a negotiation with someone privately for a card, we would both use past and recent prices to negotiate a sales number we can come to agreement on. This is fair market value.

Market price is exactly what something sells for at a given time.

Fair market value can be drastically different than market price with even a slight change of a few variables.

The bottom line is this when bidding on a card or anything else.

1) What do I believe the item should sell for at fair market value?
2) What am I willing to pay below/over fair market value for the item?

If the answer to question 2 is over fair market value, how much?
If how much, what can you afford and are willing to spend?

If your answers to all of those questions exceeds the answers of someone else, congratulations you win.

NM. Tim said it better than I could.

after reading this.....
 

all i can say is wow:eek:...and great to see our cards realize these astounding prices:D

congrats to the winners of the red hindys, especially chris;).....i truly feel there will be more to surface, these "1 of 1's".....i am pulling for you jamie:)....i dont think my other friend got his card:confused: , but i am fairly certain another will show up.....all points about rarity market value are great points, jay, scott and the rest....


Jamie and Jeff.....


i think you both are major players/collectors in our hobby, you are both extremely respected by me, and i am proud to share a hobby with both of you....Jeff, your cobb makes me weak in the knees:o...I LOVE THAT CARD:D.....you both are extremely sharp and great guys....i can understand frustration on both your parts and am pulling for both of you to eventually co-exist on the board and enjoy our discussions, cause i enjoy reading both your posts......not defending jamie, jeff= your card makes collectors do strange things;), i know you wouldnt take even 20k or close for that card. i feel those type of front miscuts are priceless imho, your cobb should be a 40k card, easy!!! you know i love the freaks:o......that cobb is way more appealing to me than the cobb that went off in scp......btw, if you ever decide to donate that cobb, id gladly be the recipient!!!;) along with leon's multi strike and matty proof.....jamie, your passion for these little pieces of cardboard drive you, i feel you, i have the same passion......i'm sure that offer was a flub on your part, and a HUGE HUGE misunderstading that you wouldn't do again, that one was a huge low ball offer that i'm sure youd love to take back if you could....



i think the red hindys went wild just like jamies passion for t206 also....he just gets a little over zealous and i'm sure doesn't mean it, jeff, not trying to defend jamie, just being a little compassionate(i'm a sucker as you all know), ....i have had a disagreement with jamie also in the past, but worked thru it, a misunderstanding truly......jeff, your taste in these cards are impeccable, and i hope to get a collection 1/1000 as kewl as yours....



sorry for the emmotional puke:D

Thanks Chuck and Jake, I'm very pleased. :)

Great pick ups Chris and steve. Can't believe that the two of these together
went for way less then one common!!! ( I know the 1/1 and set registry factor but still?)

Well as the under bidder of the Murphy I can speak from that first hand. I won’t theorize or layout bullet pointed thought processes as to why he or she may bid I can only speak from my point of view of why I bid.

This stuff really isn’t all that complex it simply boils down to how much you’re willing drop on an item. Everyone will have a different reason for the drop or how to justify the drop. For me one factor in saying pass was simple re-sale. Sooner or later I may want to sell some of these and in many auctions the price of an item becomes something you’re going to be married too. Or have to sell at a loss in the future.

The buying pool dramatically shrinks as prices go up on items. With some prices you’re talking two folks in the pool. If one guy gets out of the pool you could be left holding a very expensive item with little to no chance of recouping or getting close to your original purchase price. The hobby is littered with examples of these types of price anomalies. This I think is what Jamie is referring too.

This was the case the other night on this card for me. I went as far as I was willing to go. Sure I could have gone much further but there was a part of me that said this is a T206 common. No matter how much I need or want this more will show up sooner or later it always has. I went from no BL460’s of Murphy to 2 of them in 6 months. If and when this card shows up the process and players should be different so the price should be as well. Most likely much cheaper but you just never know.

As to the winner kudos to them as long as two genuinely interested parties are bidding there will always be a fair winner and he or she should be congratulated.

Nice pick ups all Chris congrats on the Chase very nice.

Cheers,

John

john.. im really sorry you didnt get the murphy..

i know how much you wanted that card.

jamie

Actually, I consider John (hi John) one of my best hobby friends and I have to congratulate him on NOT winning it. For all of the reasons he stated, I don't believe it was a good deal at that price point. Again, just my opinion but I am very happy John doesn't have a 31k common card, of which if history repeats itself, will come up again...and next time for a lot less money, most likely. JOB WELL DONE on using your head more than your heart, John. And as one of the most passionate collectors around I do understand it's a bit of a two edged sword too. There will be another my friend....

John, thanks for the note.

I'm a bit sad to hear you didn't get it for your run...but also happy that you didn't spend the coin.

Your reasonings make sense John and I can't see that card hitting close to that price again. Chances are good that another one will show up, especially after word of an auction like this gets out. I read that these Hindus showed up after the consigner heard about the E98 find.

In two months 55 new red hindus hit the hobby....you just never know what's out there.

I assumed John won it too, because it was the last one he needed for his Murphy run. But the price makes no sense at all. Yes, at the particular moment two people were willing to go that high. But the card is likely not unique- these things were mass produced- and that price point is unlikely to ever be duplicated again.

If there is another one out there, that price will bring it to the auction (or to John for a private sale) before too long. I know a lot of us were rooting for you on that one. Good luck with finding your example.
JimB

lol

overpaying for a card for a set
 

I can relate to overpaying for a card that I thought I needed for a set. Earlier this summer a T213-1 Huggins port went to auction and I had not seen one offered before, so I just kept bidding until the other guy stopped.

The next day I looked on this board and a few people were saying..."Who paid 4-5x for that Huggins port?...What's that all about?" etc. The very next auction had a T213-1 Huggins port in it. Good luck with your collections.

This is the exhumed body of Cy Seymour. Thank you for honoring my likeness with your back run. I am typing this from an internet cafe near my gravesite in Albany. It may seem strange, but I am truly a ghost. Cannot rest until I get control of my fastball!

As for my card, there will be more Red Hindu's in my throwing pose... there will be more, I say... THERE WILL BE MOOOOOOOOOORE!!!!!!!!