"I paid x-dollars for this card"

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Posted By: Jared

Three months into the hobby, and that has quickly become the phrase that peeves me off the most. Someone who's making an offer for your card doesn't care how much you paid for it! The way I see it, cards are a lot like the stock market - if you're gonna buy/sell, understand that there is the risk of losing some money. Don't expect people to compensate for your mistakes.

Where do people get off thinking they can always get 100%+ in return for their cards? Heck, I've overpaid for cards and realized I'm gonna take a loss if I ever decide to sell it. Big deal, I enjoyed the card while I had it.

As a seller, you get what people are willing to pay for it. If you want to set a mental "reserve price" on cards you're selling, go for it. But don't tell me what you paid for it, because I couldn't care less!!!

The end.

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Posted By: John

Ok, point made but also expect when people tell you they paid “X” amount for a card that’s there way of saying not for sale at your current offer price regardless if you think it’s the right price or not.

Some people want too never lose money. That doesn’t make them wrong for asking the price they paid, and doesn’t make you wrong for saying no thanks.

Also my biggest peeve after 20yrs in the hobby is the phrase…”cards are a lot like the stock market” cards are nothing like the stock market. I very rarely get to negotiate the price of Google or any other stocks I would invest in. True they have tangible worth but in the majority of the worlds eyes 100k worth of IBM stock is worth more than a 100k worth of baseball cards. Besides I seem to remember the stock market being regulated by an industry of some sort…obviously our little hobby is not.

The end.

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Posted By: Jeff Lichtman

John, I've become completely spoiled by your posts at this point which contain your artwork. Having just seen Thurston Howell III with a slabbed (but most likely trimmed) Wagner tucked in his hand has made me realize that a new rule needs to be implemented: all of your posts must contain such works of art. I will be forwarding this suggestion to Leon.

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Posted By: Jared

"Also my biggest peeve after 20yrs in the hobby is the phrase…”cards are a lot like the stock market” cards are nothing like the stock market. I very rarely get to negotiate the price of Google or any other stocks I would invest in. True they have tangible worth but in the majority of the worlds eyes 100k worth of IBM stock is worth more than a 100k worth of baseball cards. Besides I seem to remember the stock market being regulated by an industry of some sort…obviously our little hobby is not."

I think you take that analogy far too literally. I was simply relating the volitility of selling prices between the two. Perhaps real estate is a more appropriate analogy. Regardless, my point is the same.

Anyhow, like I said, I don't care if people set a mental "reserve price" because they don't want to lose money. That's fine. But it is insulting for a seller to say "umm, I paid x for this card, so you're gonna have to deal with that..." It comes across as cocky and immature, and it is completely irrelevant to the buyer.

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Posted By: Jason L

specifically when the seller comes across with attitude about it.
I can respect that a seller sets a price base on his cost, but when he makes that an "issue" in the sale, it is inappropriate (irrelevant).

When this has happened to me as a buyer, that seller loses all possible buys from me (I don't ever return to his table), and I feel ok with this because there has never been a time where that seller was the only one on the planet with the card I wanted. Life is too short to deal with a--h---s.

Retail stores don't have signs next to their products that state:
"We paid x for this item, so..."

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Posted By: barrysloate

I agree with Jason.

It's perfectly fine to factor in your cost when you price an item, but the buyer doesn't want to hear it. Just keep that information to yourself.

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Posted By: leon

When I am selling a card and someone asks what I paid for it my standard answer is "$1", now do you want it or not? I will negotiate sometimes but it doesn't matter what I pay it matters what the real market/hobby value is. Anyone that buys and sells frequently will win some and lose some. If you do it very long you better win more than you lose or you won't be playing very long. More importantly, for me, is that sometimes I can add a plumb to my collection.....regards

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Posted By: Rich H

I agree 100% with Jason and Jared.

Rich

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Posted By: Frank Wakefield

Leon, a dollar a card? Really?? All this time I thought you'd paid 25 cents a card. In those scans I thought that was your purchase quarter alongside the card you were buying. Golly!

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Posted By: John

Jeff, point taken all posts will have an image of some sort perhaps I should buy a weekly banner ad and place the funny picture of the week?? LOL

Jared no hard feelings I hear what you're saying, the stock market analogy just gets a bit old. I always hear on here what a great investment cards are. In reality if you're smart I don’t think you’ll lose lots of money, I also don’t see any millionaires being made from baseball card collecting listed in Forbes each year. IMO

Leon and this dollar card I bet you expect $2 for it too....perhaps Jared was right you greedy SOB. LOL

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Posted By: peter chao

I would say most of the time it is irrelevant to the buyer. However, if I have been dealing with a guy for a long time, I like to make sure he's making money also. So if he tells me that he paid $400 for a card then I want to pay him at least $450 so that he makes money on the deal.

However, if you are going to do this be careful that you can trust the guy. Some people will exaggerate the purchase price so that you will pay more.

It is still buyer beware.

Peter C.

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Posted By: Brett

I don't see anything wrong with trying to come out even by selling a card for what you paid for it... unless its way above the market value.

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Posted By: Mike Mccullough

I dont have a problem with a dealer saying that but I do have a problem with certain cheapskate customers and the constant haggling that people just love to do. Some guys will spend hours cherry picking through my vintage common boxes and then have the nerve to try work a deal on a $10 worth of commons. The common phrase is "What can ya do me for??" My response normally is,, "Would like a pat on the back with that???" So far no takers,,, thank goodness. When I was younger and someone use to ask me if I would take $5 for a $10 card I would rip it in front of them and say, "I'll take $5 now.." You ought to see the expression on peoples face when I'd do that... LOL

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Posted By: Marty Pritchard

To date, I have bought and sold every card for the agreed upon price.
I have had quite a few customers feel that it is important to know how much I paid for a card. If I make a good deal on a purchase, I can make a bit more profit. If I over pay, I will lose money when I sell. I do not feel that I have to sell well below market just because I bought for well below market, just as I do not feel that a customer should have to pay me well above market for my mistakes.
I do not mind being told how much was paid for the card, somtimes this is useful information, but normally I just want to know how much is the card going to cost me.

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Posted By: Jeff Lichtman

When you buy a house isn't it fair game to know what the house was previously sold for?

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Posted By: Bill Todd

Jeff asked, "When you buy a house isn't it fair game to know what the house was previously sold for?"

Jeff,

Fair game? Sure. Relevant? Not at all. (Though many people think it is. In economics and business it's called the "Sunk Cost" fallacy.)

I guess Jared's real question is, "What's the point?"

Let's say someone bought a card three years ago for $200, and the market for similar cards has risen substantially since then--to around $500. Is there any chance they would then say, "Well, I only paid $200 for it, so I can let you have it for $300"? Not likely.

In my experience--on both sides of the table--the seller brings the original purchase price into the discussion only when they're trying to either:
Impress the potential buyer with how "close" they're working, or
Somehow cover their butt for overpaying in the first place.
(There's also the possibility that it's their really bad attempt at small talk.)

I'm not that easily impressed, especially if the seller is making a point to tell me how he screwed up.

The only person who might be swayed by the statement is an uneducated buyer. "Well, if HE paid X for it, then it must be worth at least X+."

At any rate, I just ignore it. I don't get offended by it, any more than I would by an other lapse in logical thought.

Bill

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Posted By: Fred C

Does it really matter how much a person paid for a card? Not really. The card could have been purchased a decade or two ago or it could have been purchased the previous week. Should the price paid for the card dictate the current sale price? It shouldn't. If someone is willing to pay X dollars for the card then that would be the current value of that card, regardless of how much the seller paid for the card. If the seller wants to disclose this information then thats' the sellers choice. Why bother asking how much the seller paid for it, does it increase or decrease the current sale price?