Is Heritage that much better than EBay?

[Vintageclout]

Ryan - JoeT here. FYI, piggybacking off of Connor’s very accurate response, I would like to add that when a card is re-auctioned, you immediately lose the winning bidder (assuming they are the new consignor). Thus, the most aggressive bidder has been lost in the new auction. We surely know that it takes two to tango, and losing one of those two can severely reduce the price of the card the second go-around.

[Rhotchkiss]

Joe, I agree with you and Conner on the one-less bidder theory, but I think there is more to it than that. The exact same 33 Goudey Lajoie sold in Heritage for a 20% premium over what the same exact card sold for in Heritage in May. I know it’s a small sample, but that is an example of a major card being immediately relisted with better results (in Heritage). So while I think that may be a factor, I am thinking the following are equally applicable:

1. Heritage (and memory lane, REA, etc) get more eyes on stud cards than eBay, especially a Greg Morris auction on eBay (as opposed to pwcc, no offense to Greg Morris); and

2. I agree that the extended bidding format of Heritage (and REA and all other lot by lot closings), likely create a few extra bids, whereas the close at one-time, set -a-snipe format of eBay auctions may leave bids (and money) on the table.

[sb1]

The biggest difference in the example of the T206's vs. the 33 Lajoie, is the fact that the Lajoie is a major milestone collectible. The T206 are commodity cards, readily available in all grades at nearly all times. One can pick and choose which T206 to buy, the Lajoie was very clean and likely someone who missed out the first go around decided to own the card in the recent auction. I don't have one and seriously considered throwing a bid in the mix at the ending night.

[oldeboo]

I'm not sure that the more higher end AHs get more eyes exactly, I don't doubt that they get more serious eyes though. I often see some great cards at AHs only have a few hundred views or less and the majority are probably from the same three people checking everyday. More valuable cards from sellers may gravitate towards an AH for many great reasons over eBay. There are a lot more opportunities of finding a diamond in the rough on eBay than at a top end AH, but you have to weed through a lot of junk and that time adds up. There are just too many factors to list that make them completely different animals. There are about as many similarities between auction houses and eBay as there are to the B/S/T, card shows/shops, flea markets and yard sales.

[Exhibitman]

'Reselling' on eBay may be a sales tax dodge. If you have a resale permit with Heritage you could avoid the sales tax by claiming to buy for resale. But how to prove it? Perhaps list the card on eBay at a high BIN. You then have proof of a resale effort if the tax man ever comes to collect his 10% and no sale except at a crazy profit.

Allegedly. Hypothetically.

[bounce]

Originally Posted by sb1

The biggest difference in the example of the T206's vs. the 33 Lajoie, is the fact that the Lajoie is a major milestone collectible. The T206 are commodity cards, readily available in all grades at nearly all times. One can pick and choose which T206 to buy, the Lajoie was very clean and likely someone who missed out the first go around decided to own the card in the recent auction. I don't have one and seriously considered throwing a bid in the mix at the ending night.

thought i'd add as well - i keep seeing comments like this that T206 cards are "commodity cards"

apparently i'm not shopping wherever you shop, because i've got plenty of funds set aside for these commodities but i can't find nice looking 4/5/6 with any regularity or at anywhere near what I'd consider "market" prices - unless we are now defining market again as "highest price ever for the grade"

[Exhibitman]

Originally Posted by bounce

i can't find nice looking 4/5/6 with any regularity or at anywhere near what I'd consider "market" prices - unless we are now defining market again as "highest price ever for the grade"

I take it you are referencing BINs on eBay or other fixed price sales.

FOMO: Fear Of Missing Out

I think a seller version of FOMO is driving reluctance to sell at the 'market' price. It is really hard for some people to sell into a rising market and not kick themselves for selling too soon. The market has caught up to cards I sold off five years ago for 'crazy' prices. I kind of wish I had a do-over.

[bounce]

Not just eBay - there are plenty of highest ever prices in FB groups and online forums etc

If anyone is selling Cobb Wajo Matty speaker lajoie “commodities” feel free to reach out directly to me - I’m ALWAYS looking for these just like everyone else is

[Bridwell]

Getting back to the original post. The actual sold price on a particular card in a particular PSA or SGC grade can vary by 20% or more, even if sold within a couple of months. Just look at VCP data. The images show the exact Cert number on the slab. There seems to be variability perhaps based on having 2-3 bidders competing at the end of an auction. Smart bidders can exploit that variability. I'm not sure there is any pattern to the day, or which auction house is involved. Sometimes, there could be a shill bidder involved. A smart investor might try to buy low and flip a card for a profit a few months later. I've seen a few HA cards from this summer being sold on Ebay. I've seen examples where this strategy has worked. Most buyers do not participate with all the auction houses. We've also seen examples where the strategy has failed miserably, where the resell price was very low on Ebay. I've had good luck buying on Ebay in the month of December.

[bounce]

Originally Posted by Rhotchkiss

Joe, I agree with you and Conner on the one-less bidder theory, but I think there is more to it than that. The exact same 33 Goudey Lajoie sold in Heritage for a 20% premium over what the same exact card sold for in Heritage in May. I know it’s a small sample, but that is an example of a major card being immediately relisted with better results (in Heritage). So while I think that may be a factor, I am thinking the following are equally applicable:

1. Heritage (and memory lane, REA, etc) get more eyes on stud cards than eBay, especially a Greg Morris auction on eBay (as opposed to pwcc, no offense to Greg Morris); and

2. I agree that the extended bidding format of Heritage (and REA and all other lot by lot closings), likely create a few extra bids, whereas the close at one-time, set -a-snipe format of eBay auctions may leave bids (and money) on the table.

Couple things I think..

The auction companies make sure you get paid. It seems quite rare that when you consign to one of the auction houses someone backs out on their bid. This happens ALL THE TIME on eBay, because they protect buyers interests first. This is also why some of what we see at Probstein and PWCC may not be able to be trusted - because the buyers didn't ultimately pay.

The other reason someone else pointed out, there are sometimes just not as many eyes on eBay. I actually was in the market for that specific Hindu Wajo, as I was one of the underbidders at Heritage the first time around. I would have definitely been after this card had I seen it, but I don't search eBay that frequently for T cards (my fault obviously this time) and didn't know it was even out there.

For five and six figure cards, though, I really do think it has as much to do with the auction houses getting you paid than anything else. There's just too many shenanigans that eBay let's buyers play with you and people who are selling cards at this level I assume want their money, lots of times because they're using it to fund something else.