Considering selling everything - Final Update/Tally

[barrysloate]

All of us who have bought and sold baseball cards over a long period of time have made mistakes like this. I've overvalued plenty of things and have taken losses on them.

Tom gave the best advice: readdress this collection after you are no longer emotional about it. Now would be a terrible time to sell it because you are not able to look at it objectively. If you are angry at yourself for doing this you are going to compound the problem by making poor decisions selling it. Wait some period of time, sell it for the best price you can, and just accept the loss. And no reason to sell your whole collection over it since you say your finances are still fine.

Just step away from it for the time being. This doesn't sound as bad to me as it does to you. If you bought a stock and it went down you wouldn't beat yourself up over it. It just happens.

[ibuysportsephemera]

All great suggestions from other Board Members. I have been actively buying sports memorabilia since 1986 and have had "buyers" remorse on a number of occasions. However, my motto is that you need to make some bad deals to score the really good ones. Good luck with your liquidation. If you have any neat vintage paper items from the purchase, PM and let me know what you have.

Jeff

[kailes2872]

Thanks for the feedback. This is some great advice. I think the most frustrating thing was just how stupid I was. This wasn't something where I got robbed (in the literal sense). My wife didn't want me to take the trip for this reason and I said "trust me". She did and I did this. This want something where I got conned with counterfeits. I saw the stuff. I knew it was light but despite that I still rolled out 146 100 dollar bills.

I said trust me, I've got this. And I was a total doofus. I was the guy that I have made fun of. I am an educated, pragmatic guy. I see downside and risk in everything and my risk meter broke. When I came to, it hit me hard. It was like I had a 5 day out of body experience. I didn't sleep. My adrenaline pumped and now I am crashing.

The guy was really nice. He thought he was giving me a great deal. I wish he would have taken one of the other calls and got a reality check but what is done is done. He had a wife and a small child and they were trying to get enough for a down payment. He didn't want to sell. His wife was forcing him to. He was somewhat of a simpleton. He had trouble with your/you're, to/too, there/their. In my head, I thought that he was just unaware of his value. I was going to capitalize on the fact that I had better information. God has a sense of humor as I sure look like the simpleton in the situation

In speaking with my wife, we came to am agreement. Perhaps this was God working through both of us. He was praying for a blessing and was willing to sacrifice his collection. God answered his prayers through me while reminding me to check my pride and arrogance at the door and to keep my day job. Coincidentally(?), the flight was almost cancelled on Wednesday morning. There was a mechanical issue and a 2 hour delay. At first they said that it was not going to leave until 11 which wouldn't allow me to make my return flight. He provided an out for me, but I was blinded by visions of this collection and the riches it would bring.

All I wanted was some 56 commons. Then I got this grand idea that I would sell off the rest and use the white. meat to build out the rest of the sets. I had been waiting on 54-56 and was fired up. Over the next 18 months, I was going to get my PSA 6 Clemente, Aaron, Banks, Koufax etcetera. Now, I get to tap the breaks. But, 14 grand would have bought nice mid grade sets of all three. Not very smart.

In the end, it is about 1% of net worth, 10% of liquid cash and half of my savings. It does not change the game but it is out of character and that is why I am kicking myself the most.

Take care and thanks - you have saved me the money on the therapy session and I need to save up 14,600 so I can start collecting again ��

[ksabet]

I think I overvalue just about everything I come into contact with. I am a collector heart and therefore make a terrible part time dealer.

I take solace in the fact (i know sounds terrible) that my wife overvalued her business and and we took a six figure loss a few years ago. We have recovered but alas I can make a lot of card mistakes and still remind her of hers.

[kailes2872]

Actually, forget everything I just said.

While looking through the very low value very beat up pre war book of about 50-70 cards, I found this Wagner!

Here we go easy street!

[kailes2872]

But can someone tell me if this is a unique back - I.e Ty Cobb w/ Ty Cobb back?

[chernieto]

Kevin,
We have all made mistakes and sometimes those mistakes are a great opportunity to evaluate life and see the positive.
1) a supportive wife? .....priceless
2) an experience to help you focus on what's most important? ( family) -excellent
3) You live in the U.S. of A & not Iraq....very lucky
4) the cards you got are not reprints and you can sell them- cool!
5) A N54 group of folks to hear you out who can relate- very nice too.

Count the blessings and learn from the mistake and hope it is the worst that you experience. that would be very fortunate. Enjoy the weekend

[Luke]

Originally Posted by chernieto

Kevin,
We have all made mistakes and sometimes those mistakes are a great opportunity to evaluate life and see the positive.
1) a supportive wife? .....priceless
2) an experience to help you focus on what's most important? ( family) -excellent
3) You live in the U.S. of A & not Iraq....very lucky
4) the cards you got are not reprints and you can sell them- cool!
5) A N54 group of folks to hear you out who can relate- very nice too.

Count the blessings and learn from the mistake and hope it is the worst that you experience. that would be very fortunate. Enjoy the weekend

I agree with all of this. Also, if this really is the worst mistake you have ever made, that's something to be proud of. It's just money after all. Family, friends, and your health are what's most important.

As far as what to do next, I think autograf nailed it.

[btkpath]

Originally Posted by chernieto

We have all made mistakes and sometimes those mistakes are a great opportunity to evaluate life and see the positive.
1) a supportive wife? .....priceless

Familes have been torn apart from much less than this experience.

Take your wife out for a romantic dinner and revel in how this current error in judgment has made you realize just how lucky you are to have a wife like yours, and has served to strengthened your relationship.

You are truly a lucky guy.

[Tao_Moko]

Originally Posted by kailes2872

But can someone tell me if this is a unique back - I.e Ty Cobb w/ Ty Cobb back?

This is by far the coolest piece.

I lost $32k on a house recently and other sizable mistakes like dropping a huge chunk on a SeaRay when I got back from Afghanistan. Nothing is a worse investment than a boat. My humble opinion is that this it's important to remember this is a hobby(for most) and mistakes are just part of it. Everytime I buy or sell something "rare", I find another right around the corner. The reality is that we should probably all use our money foy helping those in need and not cards, but we are spoiled animals.

[drcy]

I agree with Tom to not compound a bad, hasty decision with another bad, hasty decision. Don't liquidate just to get it out of sight. Take your time and you'll get your best return.

And a key to remember is everyone on this board has made bad buys. Don't be too hard on yourself.

[DHogan]

Time heals all wounds. Some leave scars. It sounds like you have a great wife.

[bobbyw8469]

I didn't do enough research to understand just how low the A cards went for.

Don't believe this statement one bit. If the card looks really nice for the grade, some collectors could care less if it has been trimmed. I'm not saying they have ulterior motives, but it is a chance to get a really nice looking card for lesser money than they would pay if it got a numeric grade.

[buymycards]

Hi Kevin, I can't believe people are advising you to close your auctions, and you went ahead and closed them. They were getting some decent bids and there were still five days to go. I was bidding on most of your items, and when I got home a few minutes ago the auctions were gone. You can bet that I won't be bidding on any of your items when you list them next time.

Rick

[kailes2872]

Originally Posted by buymycards

Hi Kevin, I can't believe people are advising you to close your auctions, and you went ahead and closed them. They were getting some decent bids and there were still five days to go. I was bidding on most of your items, and when I got home a few minutes ago the auctions were gone. You can bet that I won't be bidding on any of your items when you list them next time.

Ricki

Ricki,
I apologize. I am paying the price in the fees and I will obviously lose part of the market (you and others) in the future.

I like to think that I have a level of integrity. That is why I asked the question before I took it down. It sounds like I did the wrong thing and I am sorry. I wish that I would have made this post yesterday and had a better state of mind when I put up items.

[drcy]

You hastily put up the lots in the wrong state of mind under duress, then when people pointed out you should wait and better plan before selling the stuff you had to make a decision one way or the other. Don't feel bad about it. I'm not ordinarily for ending auctions early, but you should be given a hard time under the situation.

[kailes2872]

I wish that I would have posted this yesterday. I woke up today thinking that I was going to liquidate everything and this thread helped me snap out of the funk a bit and think about a plan. My pride was hurt and I was spinning a bit. I was looking at the stuff and it made me ill. i wanted it gone. I probably sold the lot for too cheap on BST last night and now have $30-$40 in Ebay fees as a result of stopping the auctions. From the above thread, it looks like I did the wrong thing pulling them down. It was less than 24 hours ago, but it was still pulling down after I had them listed. Hopefully, I have paid my last stupid tax on the lot. Between the opportunity costs lost on the lot last night and the fee for pulling down, I need to add $100-$150 to the original total when I keep track of how far I can claw back.

When you add in the PMs offering to sell my collection, it has been an interesting few hours to say the least, but I will heed the advice of the board and proceed with a plan.

My plan will be his:
1.) I will get a new scanner. We have a 3-1, but it sounds like there are better ones designed for listings. If someone could throw out a suggestion, that will be a top priority.

2.) Step away for a brief time and get rid of the emotion.

3.) Red Man's - sell individually with good scans (54 cards total)

4.) 1953 Bowman Color - sell card #1 (nice shape), Musial, Hodges, Rizzuto
and Wynn individually. Sell the rest as 10 card common lots starting at $9.99
(54 cards total)

5.) 1950 Bowman - Sell stars individually. Sell others as 10 card common lots. (175 cards total) starting at 9.99

6.) 1951 Topps Red Backs - Sell stars individually. Sell others in 10 card lots (26 cards total) starting at 9.99

7.) 499 '59 Topps nice grade. Sell stars - roughly 20 individually, sell high numbers (non-star) individually, sell others in 25 card lots. starting price of $9.99

8.) 380 1966 cards. Very few if any high or SP's - mid grade. Sell stars (Mantle, Aaron, Jenkins, Sutton) individually, all others sell as 50 card lots starting at $9.99

9.) 520 1967 cards - Sell stars (Mantle, Killebrew, Robinson, etc.) individually, sell the few SP's (Cash/others), individually, sell the commons in 50 card lots starting at 9.99

10.) 662 1969 near set. Sell stars individually (trimmed Mantle, all others except Ryan and Jackson), sell others in 50 card common lots. Maybe sell all leader cards as a lot? Very crisp grade

11.) 1970 - 3 different groups totaling approximately 1900 cards High Grade - pull and sell all stars individually. All others sell as 50 card lots starting at $9.99

12.) 385 1972 Cards - Strong Grade - 50 card common lots. If there are any stars I will pull them and list them, but I don't think there are many if any. It is a great group of cards for a set builder though...

13.) Autographed Card Collection - Call Auction House and leverage their expertise. this is not a focus for me, so apparently, I under value these. I will let them take these and find out what the market will bear.

14.) Autograph pictures and cuts of guys like Cool Papa Bell, Earl Averill, Babe...Herman, Gabby Harnett, Smokey Joe Wood, Leo Durocher, and a couple others that I can't remember off the top of my head - leverage with AH (just not sure which one as I know REA deals with high end stuff and this might not be of interest to them)

15.) Hubbell Auto Bat, Ball, Glove - same as above.

16.) Gomez Bat, Same

17.) I am not sure yet of the autographed photos of Mays, Mantle, and Joe DiMaggio (especially if there are questions of the authenticity despite the COA). Also autos of Dan Marino, Reggie Bush (2) , Tim Tebow, Dan Marino, Ray Lewis (2), and a few others that I can't remember off of the top of my head. I think I will just post as a BIN or BO, but not sure. (I am keeping Peyton, Marvin & Reggie - it might not have been worth 14k, but it was in my wheelhouse of Colts).

18.) Pre War - mostly cheap low end stuff. 10-12 common T206's I'll probably give to Conner as he builds his Monster. Trying to sell the felts in the BST auction. cut up strip cards. I will post on BST, but I don't think that they have much value as they are cut up. Rudy York Head's up I will sell individually. The 36(?) Goudey that has 4 on the page - Dazzy Vance - sell individually. 33/34 Goudey, give to Conner as he becomes the pre-war expert in the family.

19.) 1956 Jackie Robinson (VG) (2) Sell individually, Warren Spahn, individually, 20+ doubles sell as a lot.

19.) Berra Rookie - sell individually

20.) 48 Feller - sell individually

21.) 1954 Bowman Commons (approximately 20) Sell as Lot.

22.) 48-52 Bowman (approxmiately 20) sell as lot

22.) 1952-1955 Topps - Keep in anticipation of building those sets.

I have a bunch of assorted 10's and 20's of each year - not sure if I should consolidate those and sell as a shoebox lot over multiple years or if I should sell them as a lot on the year. Minimally, by the time I get to early 70's, I should combine the years.

24.) I have a small number 3-5 Hires Rootbeer cards. Those might be okay to sell them by themselves.

25.) Aaron auto ball and Mays auto ball - keep and put them on a shelf below my (already owned) Mays/Aaron autographed picture. I will do the display that has the ball with the card display of both of them.

26.) 56 Topps 175 or so - keep and use this as my basis to build the set. when I get off probation.

27.) Mantle/Williams auto framed picture - keep, Mantle/Mays framed auto picture - keep

28.) Berra 49/50 Pin, sell on Ebay as auction if it does not sell on B/S/T


That looks like everything. The Commons, while commons, are nice solid grade. Hopefully, the lots will bring more than the minimum - but that will be a big determining factor as to how much I get back.

Let me know if you think if the lots seem like the right size. I can do individually. It will be a grind, but if the feeling is that it will be value worth the effort, then I will do it - I just anticipate a bunch of unsold lots if it happens that way.


Lessons Learned/Next Steps:
1.) Breathe - assume the deal will be worse than advertised/overvalued. Don't box myself in the corner with a sight unseen commitment

2.) Corallary to #1. If I get there (in the unlikely event an opportunity like this happens again), and it is not as imagined or advertised, change scope, shape of money, cherry pick if allowed, walk if necessary.

3.) Get Conner to work on using the new scanner and make it a project with the two of us.

4.) Thank my lucky stars for my dear wife and treat her to a nice dinner.



I will start separating out lots in the near term as I get time. Then, in a few weeks/months, I will begin posting. I think that I will post them slowly - i.e especially the 70's as I don't want to lose track of which lot I posted and send the wrong one. I think that I will put the Red Man's up later rather than sooner, as if it proves to be more profitable than I think it will, I would love to keep these and the 70 Bowman's - but more than likely they will go up.


So that is the plan. I am thinking clearly and grateful for the Net54 board members. I have only been here since February and I have learned so much. The haze is lifting today and I will sleep well tonight for the first time in a week.

Thank You

[Peter_Spaeth]

Originally Posted by buymycards

Hi Kevin, I can't believe people are advising you to close your auctions, and you went ahead and closed them. They were getting some decent bids and there were still five days to go. I was bidding on most of your items, and when I got home a few minutes ago the auctions were gone. You can bet that I won't be bidding on any of your items when you list them next time.

Ricki

And who can blame you. What a train wreck.

[kailes2872]

Originally Posted by Peter_Spaeth

And who can blame you. What a train wreck.

+1

Yes, I know. Dumb decision on my part.

[ZenPop]

Originally Posted by buymycards

Hi Kevin, I can't believe people are advising you to close your auctions, and you went ahead and closed them. They were getting some decent bids and there were still five days to go. I was bidding on most of your items, and when I got home a few minutes ago the auctions were gone. You can bet that I won't be bidding on any of your items when you list them next time.

Ricki

It seems to me (if you've followed this thread from the beginning) that you could have a bit of empathy for what Kevin is going through. You're out NOTHING. ...and NOTHING is promised to you. Kevin had a horrible experience and spoke about it through his heart. He asked for and got advice (really good advice, IMO) from this board of caring experts. He followed that advice. There's no need to get snippy about it and compound his misery.

Kevin: It seems like you've got a good plan. Hang in there and all the best going forward! Cheers!

[Ladder7]

Keven, Although you knew it wasn't a worthy investment, you'd honored your commitment. That speaks volumes of your character... For making a hasty business choice, welcome to the club. Moral of the story, And this is not to be shared outside of here. Though we know for certain we're shrewd, clever and cunning. On our best day, women are way smarter.

Best of luck to you.

[Jacker_ Cracks]

Originally Posted by ZenPop

It seems to me (if you've followed this thread from the beginning) that you could have a bit of empathy for what Kevin is going through. You're out NOTHING. ...and NOTHING is promised to you. Kevin had a horrible experience and spoke about it through his heart. He asked for and got advice (really good advice, IMO) from this board of caring experts. He followed that advice. There's no need to get snippy about it and compound his misery.

Kevin: It seems like you've got a good plan. Hang in there and all the best going forward! Cheers!

Exactly. Well said!

[robw1959]

Originally Posted by kailes2872

Thanks for the feedback. This is some great advice. I think the most frustrating thing was just how stupid I was. This wasn't something where I got robbed (in the literal sense). My wife didn't want me to take the trip for this reason and I said "trust me". She did and I did this. This want something where I got conned with counterfeits. I saw the stuff. I knew it was light but despite that I still rolled out 146 100 dollar bills.

I said trust me, I've got this. And I was a total doofus. I was the guy that I have made fun of. I am an educated, pragmatic guy. I see downside and risk in everything and my risk meter broke. When I came to, it hit me hard. It was like I had a 5 day out of body experience. I didn't sleep. My adrenaline pumped and now I am crashing.

The guy was really nice. He thought he was giving me a great deal. I wish he would have taken one of the other calls and got a reality check but what is done is done. He had a wife and a small child and they were trying to get enough for a down payment. He didn't want to sell. His wife was forcing him to. He was somewhat of a simpleton. He had trouble with your/you're, to/too, there/their. In my head, I thought that he was just unaware of his value. I was going to capitalize on the fact that I had better information. God has a sense of humor as I sure look like the simpleton in the situation

In speaking with my wife, we came to am agreement. Perhaps this was God working through both of us. He was praying for a blessing and was willing to sacrifice his collection. God answered his prayers through me while reminding me to check my pride and arrogance at the door and to keep my day job. Coincidentally(?), the flight was almost cancelled on Wednesday morning. There was a mechanical issue and a 2 hour delay. At first they said that it was not going to leave until 11 which wouldn't allow me to make my return flight. He provided an out for me, but I was blinded by visions of this collection and the riches it would bring.

All I wanted was some 56 commons. Then I got this grand idea that I would sell off the rest and use the white. meat to build out the rest of the sets. I had been waiting on 54-56 and was fired up. Over the next 18 months, I was going to get my PSA 6 Clemente, Aaron, Banks, Koufax etcetera. Now, I get to tap the breaks. But, 14 grand would have bought nice mid grade sets of all three. Not very smart.

In the end, it is about 1% of net worth, 10% of liquid cash and half of my savings. It does not change the game but it is out of character and that is why I am kicking myself the most.

Take care and thanks - you have saved me the money on the therapy session and I need to save up 14,600 so I can start collecting again ��

Thanks for your letter, Kevin! I have reached a point where I am pretty much content with my collection as it is. But your letter is a reminder of what CAN happen when you don't see the big picture.

I remember how it all started for me - how I listed a raw T206 Christy Mathewson White Cap on Yahoo! Auctions of all things! That was back in 1999. It was the last of my vintage cards at the time as I had sold off the rest thinking that my interest in the hobby was gone for good. The knuckleheads on Yahoo! thought it was a fake because it looked so nice, so it went for only $165 even though it probably would have graded as a 4-5 . . . it was that nice. Well that sale just ticked me off because I had originally paid $300 for the card and thought I would at least get my money back on it. I had already been ripped off a few times by some of the Yahoos and the $165 sale of that great Christy Mathewson was the last straw!

The anger I felt was, I'm afraid, passion buried deep down inside. And it spawned a new desire to get back into collecting - maybe just to get even and then some! So I began to collect again, although for the most part I took a different direction. Whereas my previous collection consisted of mostly '50s HOFers and that Matty, my focus shifted to mostly '60s HOFers and pre-war HOFers. I now have graded Hall of Fame players from every decade, 1900s-1970s. I do have a several vintage sets and subsets I've assembled as well.

Eric Liddell, the great Olympic runner said, "I feel God's pleasure when I run." In some sense I feel that way about my collection as well, that it is pleasing to God in one sense - that it validates what God reveals about the human condition. By that I mean that if we feel an insatiable ongoing desire to collect, it only validates the fact that we are all made of the same stuff - immortal stuff, that is. And that lack of complete satisfaction exists precisely because we have been created to be at least somewhat discontent and unfulfilled until we enter into God's eternal kingdom forever. In the mean time we need to maintain a healthy perspective and balance on collecting so that it does not dominate our lives and our time and our MONEY!

You obviously have a great wife; mine would have killed me over a huge deal going south like that. The only way I justify my collection is by telling her that it's an investment that is only going to appreciate. I'm in the minority, but I'll weigh in and say that your situation was probably a wake-up call from the Lord. Not that it's time for you to stop collecting all together, but perhaps it's time to restore some balance and perspective, and give this little hobby a much lower priority in your life.