bad timing and lesson learned

[steve B]

I think you did ok.

Its sort of a kids book, despite being popular with adults, and those are often very condition sensitive.
One of the Ebay copies isn't in great condition. Another of the cheaper ones is on ABE books and is taped together. Thinning the field of potential lower priced copies.

Book pricing is a wild ride, one I'm sometimes amazed the old book sellers don't take advantage of. I like old technology books, and similar things. When I look some of them up, I'll usually see a seller who specializes asking a very high price, while sellers who specialize in other sorts of books asking a much more reasonable or even bargain price.
If seller A is asking $200, and sellers B,C,and D are between 7.99 and 25.00 I'm always puzzled why seller A doesn't simply buy up the other three copies.

[swarmee]

Originally Posted by steve B

If seller A is asking $200, and sellers B,C,and D are between 7.99 and 25.00 I'm always puzzled why seller A doesn't simply buy up the other three copies.

Same reason Dean's Cards doesn't buy up the cards of their competitors. There are no buyers at $200, if there are no buyers at $7-25. Cornering the market only makes sense on in-demand items. Why tie up all your capital in dead stock?

[BabyRuth]

Someone once said, winning an auction just means you were willing to pay more than anyone else.

[hcv123]

I will weigh in on the "estimates" part and FULLY agree that estimates in a best case scenario a houses best guess as to value. As buyers, we are always responsible for our own due diligence. When doing mine, more times than not I find MY estimate different from the auction houses - sometimes higher - sometimes lower. I almost always bid according to mine (rare exceptions would be items I think I may not see again or for a long time that aren't too far outside my estimate).

[Huysmans]

Originally Posted by steve B

If seller A is asking $200, and sellers B,C,and D are between 7.99 and 25.00 I'm always puzzled why seller A doesn't simply buy up the other three copies.

I'd be much more puzzled by the fact that if seller A is now cognizant that his copy is ridiculously overpriced - as the much cheaper copies aren't even selling... why wouldn't he then lower the price??? Does he actually WANT to sell?? Or just live in some delusional world where he might eventually get his unrealistic price, even if it takes years... a decade.... or multiple lifetimes?

[steve B]

Originally Posted by Huysmans

I'd be much more puzzled by the fact that if seller A is now cognizant that his copy is ridiculously overpriced - as the much cheaper copies aren't even selling... why wouldn't he then lower the price??? Does he actually WANT to sell?? Or just live in some delusional world where he might eventually get his unrealistic price, even if it takes years... a decade.... or multiple lifetimes?

I've been seller A a few times, as well as being seller B. It's not a matter of being delusional, but one of having the right venue/customers to sell something.

The bike shop I was running needed inventory. We did very well with ladies 3 speeds in any color except black.
I'd buy them at yard sales for anywhere from $3-$20. A quick once over for adjustments, and usually a couple new tires, and we could turn them over very quickly for 75-100.
Shops farther in town towards Boston could get more, an we could have too, but a quick flip was usually best.
I would rarely turn one down unless it needed a ton of work. (And even then... A rusty frame with a nice set of wheels and the original leather seat in good condition would still be a buy at $20

I've also sold stuff to dealers, across a wide variety of collectibles, probably for too little. But they usually had people that bought that sort of stuff while I
don't. I made money, they made money, everyone was happy.