Selling cards at a loss

[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