The Quest for an Authentic 1909-11 T206 #499 Honus Wagner

[sportscardtheory]

(1/1/10) It's about that time. I'm going to start the quest to take a $50 or less purchase and flip it all the way to the most coveted trading card ever produced... any condition and back will do. It is going to be a long and arduous journey that will most assuredly take years, but it's all in good fun, and we have all the time in the world. First off, NOTHING will be set in stone. I can not give myself limitations. I need it to be an open ended project so as to keep it as simple and easy as possible for myself. I will start all the flips on eBay so the project can be tracked by any and all interested parties. I will also do my best to keep everything on eBay throughout the entire process, but it IS eBay and problems can certainly arise when dealing with them. I will most likely start off with BIN/Best Offers too, I just seem to do well with them. Clearly in the future, I will most likely be doing auctions as well, if only to keep the project rolling along steadily. Any and all help, advice and/or constructive criticism will be MUCH appreciated and I will do my best to keep things moving along at a pace worth keeping up with. I have not purchased my initial investment yet, but I will be scouring eBay for a deal starting now. Please remember that this is not a sprint, but a marathon... it WILL take time in-between buys/sells and I will not be posting progress until all purchased items are IN HAND and ready to be sold. And just so you all know, I will not be wasting my time with naysayers and/or negative Nancys, so please, don't even bother. This is ONLY for fun and profit and there is absolutely NO reason for arguments or negativity. For the record, this is not for charity, although if anything leads to a situation where that becomes a possibility, I will CERTAINLY consider it. This is for my own personal gain and for any future children I may have. I also know this will not be easy (nearly impossible) and I will not hesitate to ask for help with the decision making... I'm no genius. : ) With all that said, let the fun begin.

Here is photobucket to help follow along.

Item #1 - Paid $2.74

Item #1 - SOLD $13.05 Net


Item #2 - Paid - $10.99

Item #2a - SOLD - $7.89 Net (2a/2b/2c/2d)

Item #2b - SOLD - $7.89 Net (2a/2b/2c/2d)

Item #2c - SOLD - $7.89 Net (2a/2b/2c/2d)

Item #2d - SOLD - $7.89 Net (2a/2b/2c/2d)


Item #3 - Paid $9.08 for 2

Item #3a - SOLD $?

[drc]

Good luck.

[Ladder7]

Try to acquire the Honus, before the "future children". Give it Hell.

Good luck and God Speed

[dennis]

"let the fun begin"

[buymycards]

Please keep posting the ebay links so we can follow along. It looks like it could be interesting.

I have taken the opposite approach. When I buy a card for $50, I keep it for a while, then sell it on ebay for $35. I then buy a $35 card, and sell it at a card show for $20. I buy a - well, you get the drift. My final card is a 1988 Topps common.

Rick

[jrog007]

Go for it man! I want to see how it goes. Good Luck !
Jim

[iggyman]

I salute you in your quest and wish you "bon voyagee" on your journey. One tiny question, if I may. Are there any tax consequences towards the end of your journey??? Especially if you get some pub. (*and I'm not talking about beer...).

Lovely Day...

[teetwoohsix]

I'm just curious-will you also let us know what you paid for the item?I can see why you wouldn't want to say "before" the item was flipped,but how about "after"?Then we could really understand the progression.Just wondering..........

[baseballart]

Originally Posted by iggyman

I... One tiny question, if I may. Are there any tax consequences towards the end of your journey??? Especially if you get some pub. (*and I'm not talking about beer...).

Lovely Day...

I'm just a Canadian tax lawyer, so I know (next to) nothing about US tax. I suspect baseball cards don't qualify as "replacement property" for a US tax deferral.

On the other hand, I grew up in Saskatchewan, so I do know something about getting houses for red paper clips. If I recall correctly, the house in question had a fair market value of about $30,000. A few years ago (before the potash boom), some houses in rural Saskatchewan would be sold for $1, as they weren't worth more than the cost of incurring the running expenses (property tax, heating, insurance, etc). It's actually quite sad how many small towns and farm houses in Saskatchewan have disappeared into the prairies over the last 40 years, as farms get larger. My grandparent's farmhouse is a typical example, with a picture of the old barn, taken about 20 years ago:





Good luck in your quest.

Max

[Kawika]

Good night, Max Boy.

[sportscardtheory]

I know it's been awhile, but once I get some real money it will go much faster.

Item #2 Paid - $10.99

Item #2a SOLD - $7.89 Net (2a/2b/2c/2d)

Item #2b SOLD - $7.89 Net (2a/2b/2c/2d)

Item #2c SOLD - $7.89 Net (2a/2b/2c/2d)

Item #2d SOLD - $7.89 Net (2a/2b/2c/2d)

[mintacular]

We will all be DEAD by the time this comes to fruition...And I'm only 31