Quote:
Originally Posted by Snapolit1
My mom has a condo down in Vero Beach. I thought it would be really cool to take out some classified ads in the local papers (see them all the time) about how I am buying cards, sports memorablia, Dodgers stuff, etc. Would be fun to pop into people's homes and check stuff out. But ultimately I don't run an auction house, and the business model would basically be premised on me fleecing ignorant widows of what they have. No. Not how I see my life playing out.
If Rick Probstein misprices something, that's one thing. If Mary O'Ryan, age 90 does, that's a totally different story.
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Is there some profit margin where you would still make enough to justify your effort, but not so much that you felt like you were shearing the sheep?
70%? 50%? 30%? 10%?
Seems like somewhere in that range you probably find you can sleep at night. But maybe the margins would drift down to the point where it no longer made sense.