Selling cards at a loss

[1952boyntoncollector]

Originally Posted by scooter729

The philosophy of "I paid this, I can't sell for less" drives me nuts from a business perspective, on easy to locate cards. That same person would never say, "well, I paid $500, so I'll sell it for that, even though the market says it should be $1,000 now."

If you're going to take advantage of market prices when there's a profit, you should be aware of the going rate when trying to sell. Or else you'll never sell an item.

I have a basketball card which I bought for $750 during the basketball peak, a year or so ago. It's worth maybe $400 now. If I needed to sell it, I would sell at the going rate of $400. Insane to think that because the owner paid more than the current going rate, to expect someone else to then do the same as well.

well they dont have to sell it and they telling you why..
'
some buyers say 'i only want to pay $300 or whatever and they only have that much money on them when market price $500' so realize there are all kinds on both sides

[HercDriver]

When somebody I'm talking to about a card says "Well, I have $X into it," I generally move on. It almost always means you'll be overpaying for it. If they have to say that, it means the card is probably not worth what they paid anymore. It happens...look at the stock market. If I buy CSCO at $100 and it goes to $80, I don't hold onto it because I have $100 into it. Take your loss and move on to something else. What you have into a card is only relevant to the seller. It is immaterial to the buyer.

Cheers,
Geno

[mrreality68]

I have rarely ever sold for a loss. However, the few times I have done it is to raise cash to buy another card that I did not want to lose the chance to get. Especially when they are low population cards that I want that do not hit the market often

[Peter_Spaeth]

Agree that what someone has into a card is completely irrelevant. No one is entitled to make a profit. But if someone wants to be buried along with their cards, that's their right.

[conor912]

Sunk-cost Fallacy

The phenomenon whereby a person is reluctant to abandon a strategy or course of action because they have invested heavily in it, even when it is clear that abandonment would be more beneficial.

[raulus]

Originally Posted by conor912

Sunk-cost Fallacy

The phenomenon whereby a person is reluctant to abandon a strategy or course of action because they have invested heavily in it, even when it is clear that abandonment would be more beneficial.

There's a name for it because it's a common phenomenon.

I think in banking they use the terms:

Extend and pretend

Delay and pray

[D. Bergin]

Originally Posted by 1952boyntoncollector

well they dont have to sell it and they telling you why..
'
some buyers say 'i only want to pay $300 or whatever and they only have that much money on them when market price $500' so realize there are all kinds on both sides

Yeah,

I don't do many shows anymore, but when I used to, I'm sure I used the phrase "I've got more then that into that" along with a noticeable smirk on my face, more then once, to a low baller who was cruising by my table and throwing out a fishing line at me.

I was almost always willing to negotiate, but if you insult me right off the bat, I figure using that line is much more polite then just telling them to "go eat sh*t".

[Jewish-collector]

I love when the dealer says, "Let me see what I have into it " Then, I say in a nice way, "I don't care what the hell you have into it." Funny as hell.beer chug.gifbeer chug.gifbeer chug.gif

[1952boyntoncollector]

Originally Posted by Jewish-collector

I love when the dealer says, "Let me see what I have into it " Then, I say in a nice way, "I don't care what the hell you have into it." Funny as hell.Attachment 534329Attachment 534329Attachment 534329

well maybe they mean they can sell it a bit less than market price if have much less into it percentage wise than normal etc

[Luke]

People are always so aggro when this topic comes up on here. I'm sure there are some situations where the value of a card is obvious, but most of the time that I say "I have X into it" or a friend says it, the value is uncertain. A lot of the cards I buy I buy from friends. If we are talking about a card and I say, Would $800 work?", and they say, "No, I have $1000 into it." that is just good info for me. I don't want to ask a friend to lose money on a card, so I either just quit trying to get it, or I sometimes think it over and decide I want it bad enough to up my offer.

And the times that I've said the same, it's because I have a pretty good idea that I can sell it for the price I paid or more. I've told people who make me an offer, "Sorry I paid more for it." many times as a nice way to say they are not in the right neighborhood, and then sold the card for the price I wanted to get for it many, many times.

[Popcorn]

I’ve noticed they went bananas in 16’ and 20’. the 2020 Covid bananas prices seemed to last longer and are still in affect for vintage rare cards. Seems to coincide with election years. 24’ will be interesting.

[dmats33312]

From a business perspective it just doesn’t make sense to hold a non performing asset. You can take that money and put it into something that you will get a greater return possibly multiple times over before selling the card at the price to break even.

[Snowman]

I ask myself one question: "would I buy this today for what I could sell it for?" If the answer is no, I sell it. If it's yes, I keep it. What I paid for it doesn't matter one bit.

[G1911]

I've done some "I paid X, I can't sell for less" deals. It's not logical for commonplace items, but sometimes it's the only data point there is to try and value an obscure or rare item. In those cases, I don't mind the seller doing that because we're both essentially guessing what the card might be worth. Sometimes I'm just grateful they are willing to let it go at all. When I hear that for a T206 or Goudey or Topps card, I move on.