Cards making the rounds

[Leon]

Here is a D322 card that sold very recently....there are just so many examples...I guess someone really wanted this a year ago.....

6/26/09	Legendary	Auction | Image			11	$480.00
3/6/08	Goodwin					$3,511.00

[Jewish-collector]

I was just telling Rob Lifson a few months ago that one of the high end cards that he sold in a previous REA auction was in one of the other auction's current catalog. He wasn't aware of that, but says as long as it's theirs, they can do whatever they want with it. My best guess is that the consigner knew of a card coming up in the future that he wanted MORE than that card he currently owned and didn't want to use additional money for the one he really wanted.

I had said that you could probably make a nice living out of just winning cards in auctions & then reconsigning those same cards 5 years later in the same or other auction house. Say you win cards in 2001 & then reconsign them in 2006, win cards in 2002 & reconsign them in 2007, etc,...

[Leon]

Originally Posted by Jewish-collector

I was just telling Rob Lifson a few months ago that one of the high end cards that he sold in a previous REA auction was in one of the other auction's current catalog. He wasn't aware of that, but says as long as it's theirs, they can do whatever they want with it. My best guess is that the consigner knew of a card coming up in the future that he wanted MORE than that card he currently owned and didn't want to use additional money for the one he really wanted.

I had said that you could probably make a nice living out of just winning cards in auctions & then reconsigning those same cards 5 years later in the same or other auction house. Say you win cards in 2001 & then reconsign them in 2006, win cards in 2002 & reconsign them in 2007, etc,...

Losing 800% in a year doesn't sound like a great investment strategy....there are a lot of these examples. They are quite interesting...

[barrysloate]

Can you mathematically lose 800% on an investment?

[Peter_Spaeth]

Originally Posted by barrysloate

Can you mathematically lose 800% on an investment?

Behind door #2 anything is possible.

[barrysloate]

If I buy something for $1000, and sell it for $200, I believe I've lost 80% of my original investment.

[Leon]

Originally Posted by barrysloate

If I buy something for $1000, and sell it for $200, I believe I've lost 80% of my original investment.

hey Barry.....the numbers are so staggering I think I went the wrong way in my calculation..... ....at any rare it is 7.3x less than it went for last time.

[canjond]

Originally Posted by barrysloate

If I buy something for $1000, and sell it for $200, I believe I've lost 80% of my original investment.

But if you buy it for $1000 and sell it for $20...

[Bicem]

Originally Posted by barrysloate

Can you mathematically lose 800% on an investment?

if I buy something for $10 and then when I sell it I have to actually pay someone $70 to take it off my hands, that would be a 800% loss.

[Bicem]

Originally Posted by barrysloate

Can you mathematically lose 800% on an investment?

a little more realistic scenario...

I buy something for $10 and sell it through Mastro/Legendary for $20. They never pay me my $20 and also sue me for another $70.

[smtjoy]

The card I was listing prices for was an E95 Wagner SGC 30 btw.

[FrankWakefield]

Hey Barry, I read it....


If I bought a card for $100. Held it 2 years, then gave you $700 to take it from me... that would be an 800% loss. Makes me wonder if any of the card investors (I know everyone here is a collector) have ever claimed a loss or an offsetting loss in their income taxes... Surely folks who consider cards an investment would be doing that.

Good point, mathematically, and practically, I think not... Bicem's scenario is as unlikely as mine.

[tbob]

I guess the bottom line is for most of us to be buyers now and not sellers...
Probably a good time to start building a new set, I know I have built some 50's sets lately because the prices were right. I know with the 50's cards I have done a lot more comparative shopping than I ever did before, using ebay and on-line sales to constantly upgrade.
Because the market is a little touchy now, not as many pre-war caramel cards coming out of the woodwork.

[Potomac Yank]

Buy it at $89.95 .....

Try to give it away for $4,999.99 ... make sure that you say FREE SHIPPING.

Keep it low, and don't wake them up.

[calvindog]

Plow's Candy Cobb PSA 4 The card that defies the worsening economy - and keeps on getting "sold." (Same card all four times)

5/8/09 Goodwin $21,494.30
9/1/07 Mastro $14,383.20
4/27/07 Mastro $13,698.00
4/3/06 Mastro $12,773.40

[Potomac Yank]

Hush ... keep it low.
You nailed it.

Leon ... that's a beautiful example.

May it take awhile before the flippers at Flip Haven catch on.

[smtjoy]

I just purchased a card where I was thinking some of the same things. The same card sold 4 times in 2007 with each time the price going down. Odd that each time they were sold by the same seller twice within a month. Glad I'm not a flipper, a line of people losing money.

7/5/09 eBay Auction | Image just_collect y***t 12 $1,535.00
12/10/07 eBay Image cal_juris maryhelperkeller 19 $1,735.00
12/2/07 eBay Image cal_juris maryhelperkeller 14 $1,876.00
10/2/07 eBay Image yorktownsc thegreatlarry 24 $2,175.00
9/10/07 eBay Image yorktownsc pto807 19 $3,700.00

[Wesley]

Originally Posted by smtjoy

I just purchased a card where I was thinking some of the same things. The same card sold 4 times in 2007 with each time the price going down. Odd that each time they were sold by the same seller twice within a month. Glad I'm not a flipper, a line of people losing money.

7/5/09 eBay Auction | Image just_collect y***t 12 $1,535.00
12/10/07 eBay Image cal_juris maryhelperkeller 19 $1,735.00
12/2/07 eBay Image cal_juris maryhelperkeller 14 $1,876.00
10/2/07 eBay Image yorktownsc thegreatlarry 24 $2,175.00
9/10/07 eBay Image yorktownsc pto807 19 $3,700.00

How is it possible for one seller to sell the card twice in a short period? Was there a reserve the first time?

[alanu]

[QUOTE=smtjoy;735101]. Odd that each time they were sold by the same seller twice within a month.

I think that often means the first time the seller had a non-paying bidder

[ScottFandango]

Originally Posted by smtjoy

I just purchased a card where I was thinking some of the same things. The same card sold 4 times in 2007 with each time the price going down. Odd that each time they were sold by the same seller twice within a month. Glad I'm not a flipper, a line of people losing money.

7/5/09 eBay Auction | Image just_collect y***t 12 $1,535.00
12/10/07 eBay Image cal_juris maryhelperkeller 19 $1,735.00
12/2/07 eBay Image cal_juris maryhelperkeller 14 $1,876.00
10/2/07 eBay Image yorktownsc thegreatlarry 24 $2,175.00
9/10/07 eBay Image yorktownsc pto807 19 $3,700.00

thats because after each susequent buy/sell, there is one less serious bidder...after each round, less and less "serious" bidders, the price drops....the whale got what they wanted and moved on....

[DJR]

.

[Leon]

Originally Posted by ScottFandango

thats because after each susequent buy/sell, there is one less serious bidder...after each round, less and less "serious" bidders, the price drops....the whale got what they wanted and moved on....

that whale was a well known dealer that is currently in a bit of news....

[Exhibitman]

Lots of my friends have drastically ratcheted back their purchases since last summer. I imagine the same is true of many others. That sort of pullback won't affect the ultra high priced stuff but definitely the four figure stuff if it is pervasive.

I've also noticed an increasing attitude of wait and see on many buyers' parts--we may be heading into a period where expectations of a decline in card prices actually fuel the decline.

Which is why it is best to "invest" in cards you like. Most of my stuff my family will have to pry from my cold, dead fingers...

Also, wasn't Yorktown the guy who went Bk and took a bunch of Mastro money with him? Buy high, sell low--not a formula for success...

[Rob D.]

Alleged questionable activity by auction houses aside, one facet of this board is the number of people who will buy a four-figure card, post it in the pick-ups thread and then two weeks later offer it for sale on the B/S/T for up to 40 percent more than they paid. If this board is a microcosm of the hobby, then my guess is that people are doing the same things in the major auctions, except instead of posting on the B/S/T they consign to the next upcoming auction. When the card doesn't sell (or "sells," if you know what I mean), it will soon turn up again.

Coupled with this practice is what motivates people to collect. My modus operandi has been, for the most part, to buy or trade for things with the intent of keeping them a long time. I know what I enjoy collecting and owning, so there are few instances in which I decide to get rid of something I've acquired. (The main exception being the purchase of a large group of cards in order to acquire and keep a few.)

But I see a lot of threads asking which sets people think are hot or which set is "better" to collect. There's certainly nothing wrong with gathering input from fellow collectors, but again, if someone isn't 100 percent sure when he or she begins pursuit of a set, then I suppose there's a good chance that within a year he or she will be looking to sell the cards that were just acquired. And if the person aggressively pursued the cards and overpaid, then he or she likely will take a loss when selling.

Simply put, if one of the reasons a person buys cards is to elicit "Great pickup!" responses on the board (or from a circle of collecting friends), as opposed to really liking the card or the set, then it makes sense to see the same cards being offered repeatedly.

[Misunderestimated]

In this economy, for many people, .... Door number 2 is often the only way out.....

[Peter_Spaeth]

I am told that a U.S. Caramel Jones that just quote unquote sold in Bill's just-ended auction was available on his table at the National. Those danged reneggers.

[calvindog]

Damn those reneggers! Memory Lane, Mastro/Legendary, Goodwin...lots of reneggers. How did REA sell $47 million in cards and only have one renegger? Those other fellows must sure be unlucky.

[Potomac Yank]

Can we possibly find more of a fun read in the Wall Street Journal?