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Originally Posted by steve B
So how many X does a flip change from good to scumbag? And are there other factors that change that?
I've had one that was more than 2400x,
Saw a plate in a thrift shop, priced at 25 cents (typical at the time)
It was restaurant china, with a named restaurant, and a cactus motif. Looked pretty cool, and I figured as a random restaurant china plate maybe $10 on ebay. Apparently it was a rare pattern from Fred Harvey restaurants. Total surprise to me once I started looking it up. The small size was the only other one I could find, and that went for $50. Put it on Ebay, and it sold for over 600...
Plenty of other examples of stuff like this.
Dealer I know bought a postcard from a dollar box. Thought it was designed by Mucha. It was.
It was also not listed in the book about his postcards.
He sold it to a guy he knew who collected them for 500. (Buyers price, this dealer often does that, just hands you stuff he got for you and asks how much you'd pay.)
That guy sold it to a bigger dealer for 1000....
It ended up in a major european auction and sold for 10,000.
Should eveyone all the way back to the dollar box guy get a bigger cut?
I have a lot of stuff in my collections that were things dealers and others didn't recognize as anything at all special.
Of course, I also have a bunch of stuff that I took a chance on that isn't anything special.
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What if the market moved because I got lucky when I bought it?
Real life example: I bought a 1951B PSA 8 Mays for $48k in June 2020. A few months later, another example sold at auction for $300k+. If I sold mine a few months later, should I go back to the seller and share some of the sales proceeds?