Selling cards at a loss

[parkplace33]

On Youtube, I enjoy watching Baseball Collector Card Investor Dealer. He had a video a few days ago where he did a Q and A session:

https://www.youtube.com/watch?v=Qu34rpDM_Rc

One question was that was brought up was do you ever sell cards at a loss? (2:30 mark). He admitted that he does sell cards at a loss, all the time.

At local shows (and even the National), how many have seen the same cards/packs/memos with the same prices over and over again. Or have heard the phrase “I have too much into it”. Or have seen the same items listed on ebay over and over again. I am always curious what eventually happens to those cards.

[raulus]

Sometimes the market goes nuts, the price of everything quintuples in value, and items that have been sitting for the last 10 years because they were crazy overpriced, well, they all sell out within minutes.

[scooter729]

The philosophy of "I paid this, I can't sell for less" drives me nuts from a business perspective, on easy to locate cards. That same person would never say, "well, I paid $500, so I'll sell it for that, even though the market says it should be $1,000 now."

If you're going to take advantage of market prices when there's a profit, you should be aware of the going rate when trying to sell. Or else you'll never sell an item.

I have a basketball card which I bought for $750 during the basketball peak, a year or so ago. It's worth maybe $400 now. If I needed to sell it, I would sell at the going rate of $400. Insane to think that because the owner paid more than the current going rate, to expect someone else to then do the same as well.

[1952boyntoncollector]

Originally Posted by scooter729

The philosophy of "I paid this, I can't sell for less" drives me nuts from a business perspective, on easy to locate cards. That same person would never say, "well, I paid $500, so I'll sell it for that, even though the market says it should be $1,000 now."

If you're going to take advantage of market prices when there's a profit, you should be aware of the going rate when trying to sell. Or else you'll never sell an item.

I have a basketball card which I bought for $750 during the basketball peak, a year or so ago. It's worth maybe $400 now. If I needed to sell it, I would sell at the going rate of $400. Insane to think that because the owner paid more than the current going rate, to expect someone else to then do the same as well.

well they dont have to sell it and they telling you why..
'
some buyers say 'i only want to pay $300 or whatever and they only have that much money on them when market price $500' so realize there are all kinds on both sides

[HercDriver]

When somebody I'm talking to about a card says "Well, I have $X into it," I generally move on. It almost always means you'll be overpaying for it. If they have to say that, it means the card is probably not worth what they paid anymore. It happens...look at the stock market. If I buy CSCO at $100 and it goes to $80, I don't hold onto it because I have $100 into it. Take your loss and move on to something else. What you have into a card is only relevant to the seller. It is immaterial to the buyer.

Cheers,
Geno

[mrreality68]

I have rarely ever sold for a loss. However, the few times I have done it is to raise cash to buy another card that I did not want to lose the chance to get. Especially when they are low population cards that I want that do not hit the market often

[D. Bergin]

Originally Posted by 1952boyntoncollector

well they dont have to sell it and they telling you why..
'
some buyers say 'i only want to pay $300 or whatever and they only have that much money on them when market price $500' so realize there are all kinds on both sides

Yeah,

I don't do many shows anymore, but when I used to, I'm sure I used the phrase "I've got more then that into that" along with a noticeable smirk on my face, more then once, to a low baller who was cruising by my table and throwing out a fishing line at me.

I was almost always willing to negotiate, but if you insult me right off the bat, I figure using that line is much more polite then just telling them to "go eat sh*t".

[Jewish-collector]

I love when the dealer says, "Let me see what I have into it " Then, I say in a nice way, "I don't care what the hell you have into it." Funny as hell.beer chug.gifbeer chug.gifbeer chug.gif

[Snowman]

I ask myself one question: "would I buy this today for what I could sell it for?" If the answer is no, I sell it. If it's yes, I keep it. What I paid for it doesn't matter one bit.

[RichMcGillicuddy]

Wait. There was a thread yesterday saying to take money out of your 401K to "invest" in cards. Cards can go down???

[raulus]

Originally Posted by RichMcGillicuddy

Wait. There was a thread yesterday saying to take money out of your 401K to "invest" in cards. Cards can go down???

That's a myth. It's been disproven here many times.

[RichMcGillicuddy]

So if the Mantle went from 50K to 12+ million.. if it goes up another 240x , it should be 2.9 billion in a few years, right? Phew...

[raulus]

Originally Posted by RichMcGillicuddy

So if the Mantle went from 50K to 12+ million.. if it goes up another 240x , it should be 2.9 billion in a few years, right? Phew...

Inflation…

[G1911]

Originally Posted by RichMcGillicuddy

So if the Mantle went from 50K to 12+ million.. if it goes up another 240x , it should be 2.9 billion in a few years, right? Phew...

That’s why I’ve drained my 401K and IRA, as well as my stock investments and savings account. I’ve got $3.50 left for food this week to hedge my bet. Money printer go brrrrr

[Johnny630]

Originally Posted by RichMcGillicuddy

Wait. There was a thread yesterday saying to take money out of your 401K to "invest" in cards. Cards can go down???

Well a SGC 5 1952 Mantle just recently sold for a little over $300,000. It would not shock me to see PWCC or any other Major Auction House list another 1952 Topps Mantle SGC 5 with very similar centering in the near future. It will be interesting to see what happens. I think it's maxed out in lower grade 5 and under but I've been dead wrong on it for the past two years. Time will tell.
It's all timing.

[RichMcGillicuddy]

$3.50? Almost buying a gallon of gas...

My daughter spent $20 on Taco Bell for her and a friend last month. That used to be a lot of tacos.

[obcmac]

I think using the "what do I have in it approach" is actually a decent strategy. My goals are trying to have fun and try not to lose money while doing it. If I am selling for more than I paid, then at least I'm not going the wrong direction. As a buyer, if I know someone paid $500 and is asking for $600, then a $400 offer probably won't work. Of course, people manipulate this idea when trying to get more money out of a buyer...so not always an honest negotiating point. If I NEEDED to sell something, which is almost never the case, then I would change from a basic rule of thumb approach to assessing the current market conditions.

[G1911]

Originally Posted by RichMcGillicuddy

$3.50? Almost buying a gallon of gas...

My daughter spent $20 on Taco Bell for her and a friend last month. That used to be a lot of tacos.

$3.50 a gallon of gas and .79 soft tacos was how I survived college. The food inflation hurts the most.

[Johnny630]

I know of a dealer at the National that has the same stuff and prices for at least 20 years. Nothing sells. I am not sure why he continues to come. I would guess it’s for the fun and memories of the past.

[Mark17]

To put things in perspective, and to make me feel better, I look at it as a trade.

Suppose there's something I'd like to add to my collection that I can get for $1,000. I have something else that I paid $1400 for, but now could only sell for $1000. Rather than looking at it as taking a $400 hit, I ask myself if I'd make the trade - the thing I want to sell for the thing I'd like to get.

If the answer is yes, I do it and have no regrets.

[Mike D.]

Originally Posted by RichMcGillicuddy

Wait. There was a thread yesterday saying to take money out of your 401K to "invest" in cards. Cards can go down???

On the bright side, at least my 401K can't go down...

[Brian Van Horn]

Shill bidding is a contributor to selling cards at a loss.

[bbcard1]

Of late I have see a lot of "just selling it for what I paid for it because of a new opportunity" posts both here and on Facebook. The problem is that in many cases the seller bought at the top of the market and what they are offering the card/piece for no longer accurately reflects the current market.

[raulus]

Originally Posted by Brian Van Horn

Shill bidding is a contributor to selling cards at a loss.

Because the original buyer overpaid in order to outbid the shill bidders, and now that they're trying to sell, nobody wants it at that price?

[Brian Van Horn]

Originally Posted by raulus

Because the original buyer overpaid in order to outbid the shill bidders, and now that they're trying to sell, nobody wants it at that price?

Yes.