Misery Loves Company - Any Stories About Taking a Loss at Auction?

[Leon]

Originally Posted by Leon

That is a really, really great card. It has great centering and huge borders. I paid $2600 (privately) for it not too long ago. After juice it sold for $2692.

Overall my auction did very well (thanks to everyone who bid) and went a little above high estimates. Some really good friends got great deals and I made money at the end of it all. Not a bad hobby if you ask me. It is great to see some of my collection cards in good board members/friends collections. I just wonder how many I end up buying back? (actually, hopefully not too many, but no promises)

I bought my first 2 cards from my 1st collection back last night. That didn't take long . It was 2 cool D311s from our BST......thanks Brian!!

[Exhibitman]

Over the long haul it tends to even out. I bought quite a few items at the absolute market top. Liquidating them has been painful. I try to time those sales with sales of highly appreciated items so I don't feel so bad overall. On the plus side if you run your card sales as a legit business endeavor a nice loss for the year can offset other income. I always prefer to make money of course.

[oldjudge]

It really is not surprising that people have losses. If you buy and sell an item at a major auction house, and it hammers the exact same amount you are down at least 20%. If you figure in that you were the high bid when you won the item, and without you bidding the item would have gone for at least one increment less, the loss, with everything else held equal, can be even more.

[majordanby]

the hobby goes through peaks and valleys - not too many cards/players/sets, at least these days, witness continual increases or sustained values.

I got into T3's when they were super hot in the mid 2000s - I had to sell them off several years later for financial reasons and it wasnt pretty.

[Leon]

Originally Posted by oldjudge

It really is not surprising that people have losses. If you buy and sell an item at a major auction house, and it hammers the exact same amount you are down at least 20%. If you figure in that you were the high bid when you won the item, and without you bidding the item would have gone for at least one increment less, the loss, with everything else held equal, can be even more.

I always say if you haven't lost on a sale then you haven't bought and sold enough .

[bobbyw8469]

Originally Posted by Leon

I always say if you haven't lost on a sale then you haven't bought and sold enough .

Touche....I used to work for a roofer that says you haven't really worked until you've fallen off a roof!! Kinda extreme, but same thing!

[Leon]

Originally Posted by bobbyw8469

Touche....I used to work for a roofer that says you haven't really worked until you've fallen off a roof!! Kinda extreme, but same thing!

Tip for all roofers- Don't pick up a piece of 4 x 8 plywood on the top of a house when it's windy. I still have a scar on my hand from that while riding a piece to the ground.

[vintagebaseballcardguy]

Originally Posted by Leon

Tip for all roofers- Don't pick up a piece of 4 x 8 plywood on the top of a house when it's windy. I still have a scar on my hand from that while riding a piece to the ground.

The same could be said for trying to hold onto a heavy duty cafeteria table when on top of a walk in freezer. Just let it go because if you don't, you might end up under part of it when it crashes!

There has to be some analogy here for those who heavily invested in the junk wax era.