Quote:
Originally Posted by bnorth
Fair point so lets do some math. I do not know the actual numbers so please provide them for me on a $30k purchase.
At $30K you are the person who will pay the most for that card so lets use the underbidders bid as what you can really sell it for. Then take off the buyers and sellers premium and the tax liabilities being a collector and not a business and what do you have left. Seriously I am curious.
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1. No one in their right mind pays a seller's commission consigning a $25,000 card. If they do, frankly, they are uninformed.
2. There is no tax ramification of me buying a card for $30,000. Or a million dollars.
3. If I sell something for more than I bought it for, only then do I owe taxes. And then, by definition, I haven't lost money on the sale.
4. If I bought a nice vintage card for $30,000 and had to sell literally tomorrow, ok, maybe I sell it for $28,000 or $27,000 in the next auction, WORST case scenario.
That's no doubt where the runners up landed. And I've lost maybe 10%. Nowhere near 50%.
5. If you paid 7% sales tax, tell the AH you want 107% of the hammer. Exactly what I've gotten from one of the major AH's many times.