I got a big announcement!

[scottbdoug]

Originally Posted by slidekellyslide

Maybe this is a topic for a different thread, but how much responsibility do we have to educate sellers? The American Pickers scenario is different in my opinion because these guys are for the most part dealing with collectors/hoarders and not dealers. In that situation you should never take advantage of someone.

I purchased a Dogs Head cigarette package at a local antique show for $50 knowing full well it was worth ten times that amount. How much responsibility did I have to notify the dealer that I was going to make a lot of money by flipping that?

There is a tag sale company in my town that seems utterly clueless when it comes to certain items. I purchased a $1000 Notre Dame v Nebraska football program out of their dollar box. Is my moral compass off?

It is my understanding that Richard is buying these cards from a dealer of some sort and not just some hapless collector shelling out big bucks for million dollar collections.

A used item is only worth what someone is willing to pay, and a seller can try charge what he thinks he can get or what he thinks the item is worth. To you, flipping items is easier than perhaps myself as I dont sell stuff and I have no network of buyers that you may have. So the buyer strictly speaking has no obligation to point out that they have a network of other buyers who would pay a lot more than what he is selling the item at presently.

Now saying that, I believe that a seller who is buying does have an ethical obligation to point out to someone that the item they are selling is worth more if that more falls within the 25%-33% that sellers buy things for to resell later. Would you feel comfortable buying a card that easily sells for 1000.00 and the person is selling it for 5.00 at a garage sale? I wouldn't. But I would say to him I will buy the card for 250.00, as that is approximately the value of it.