Should Some Interference Be Allowed In The BST Areas?

[JustinD]

Seems like a shit show waiting to happen and bad listings sitting at the top of the page due to constant bumps for correction or arguments.

I would rather have a rule that if comps are listed they must be the most recent 5 or 7 for the same card with same grade and sale date with grading service listed. If it’s not and selective comps are given the thread is locked.

Try using selective comps and not the newest most similar on a mortgage underwrite and you have a rejection from the investor. No pick and choose.

[hcv123]

Originally Posted by JustinD

Seems like a shit show waiting to happen and bad listings sitting at the top of the page due to constant bumps for correction or arguments.

I would rather have a rule that if comps are listed they must be the most recent 5 or 7 for the same card with same grade and sale date with grading service listed. If it’s not and selective comps are given the thread is locked.

Try using selective comps and not the newest most similar on a mortgage underwrite and you have a rejection from the investor. No pick and choose.

1) I respectfully believe such a rule would be not helpful. As has been previously stated - "comps" for a particular grade do not reflect a number of factors important in valuation, "eye appeal" at the top of the list. What if the last 5-7 sales had inferior or superior eye appeal (which is also a largely subjective measure).

2) When I bought my 1st house, I pursued financing through 2 different lenders (my nature). They each brought in their own "professional" appraiser. 1 appraisal came in at 420K. The other at 520K. Sorry, but based on my experience - PLENTY of pick and choose!

[parkplace33]

Unless the comps are false, I don't have a problem with them being in the post.

The bottom line is the price of the card. Everything else is fluff.

[nolemmings]

Slippery slope-- I'd leave it as is except for mis-identified and unauthentic cards.

A reference to comps is just a guide, not an assurance that all sales were thoroughly investigated and are given. So long as the information is reasonably accurate and not a flat-out misrepresentation, let it be, as Paul McCartney might say.

On a barely related subject, my rant would be toward those who fail/refuse to put WTB on their subject lines. Many times I have clicked on a thread thinking it might be something I would consider owning, only to see there's nothing for sale and just a solicitation for someone to please sell to the poster. I must confess there have been times I thought about "interfering" with those threads by posting a thank you for wasting my time (well, maybe not thank you, but something to drive the point home).

[bnorth]

Originally Posted by nolemmings

Slippery slope-- I'd leave it as is except for mis-identified and unauthentic cards.

A reference to comps is just a guide, not an assurance that all sales were thoroughly investigated and are given. So long as the information is reasonably accurate and not a flat-out misrepresentation, let it be, as Paul McCartney might say.

On a barely related subject, my rant would be toward those who fail/refuse to put WTB on their subject lines. Many times I have clicked on a thread thinking it might be something I would consider owning, only to see there's nothing for sale and just a solicitation for someone to please sell to the poster. I must confess there have been times I thought about "interfering" with those threads by posting a thank you for wasting my time (well, maybe not thank you, but something to drive the point home).

I have clicked on several listing also to only find out they are looking for the same card(s) as I am. Also adding the end date to auctions in the title should be a rule.

[BobbyStrawberry]

Originally Posted by bnorth

I have clicked on several listing also to only find out they are looking for the same card(s) as I am. Also adding the end date to auctions in the title should be a rule.

Yes to the bold part for sure! Also, I'd love to see a rule/guideline that posting a new comment on your own BST thread only to say that an item is sold or NLA is not allowed, as this only pushes active listings down the page.

[darwinbulldog]

I'd say it comes down to the factual accuracy in the OP. If they're posting prices of some comps, well that's sort of what I assume many people with something to sell will do. If they're just saying, "Look, here are some similar cards and what they sold for," they've done nothing wrong. Maybe those are the five most recent sales, or maybe they're the five most recent sales on eBay, or maybe they're the five highest prices of the ten most recent sales. In any case, they aren't anything other than what the seller presented them as. If they claim these are the most recent sales but have omitted one (or more), whether by accident or to deceive, then I think it's good for someone else to post the missing data. Otherwise, that's not called for.

Which is to say I'm fine with sellers as long as they're posting the truth and nothing but the truth. It need not be the whole truth, however one might define that. And I don't think it's good for the spirit of the forum if people are posting additional information detrimental to a seller who didn't post anything incorrect to begin with.

[JustinD]

Originally Posted by hcv123

2) When I bought my 1st house, I pursued financing through 2 different lenders (my nature). They each brought in their own "professional" appraiser. 1 appraisal came in at 420K. The other at 520K. Sorry, but based on my experience - PLENTY of pick and choose!

I can believe you prior to a certain date but as someone who worked for the largest mortgage lender in the country and now works for the largest government sponsored mortgage investor in the country, I can assure you that if there is now the slightest proven impropriety the appraiser and appraisal is gone forever. The Wild West of appraisal is long gone. Now, you more than likely would forced to use the first appraisal in even if the second comes in a million higher unless you can prove error in the first by negligence. Trust me, it’s not easy.

[hcv123]

Originally Posted by JustinD

I can believe you prior to a certain date but as someone who worked for the largest mortgage lender in the country and now works for the largest government sponsored mortgage investor in the country, I can assure you that if there is now the slightest proven impropriety the appraiser and appraisal is gone forever. The Wild West of appraisal is long gone. Now, you more than likely would forced to use the first appraisal in even if the second comes in a million higher unless you can prove error in the first by negligence. Trust me, it’s not easy.

It was after the "appraisal reform". As mentioned in my post, the only reason there were 2 appraisals, I submitted applications with 2 different lenders. Each did their own appraisal. These were supposed "professionals". The price of the house was $535K. The $420K appraisal was a joke - I was very well versed with the market at the time and expected a 480-520 appraisal. The 420 was the appraiser used by a bank with whom I had a relationship for 20+ years. The 520 was from a recommended mortgage broker who I never even met. The bank ended up apologizing and refunding all my application fees. Just saying - anytime subjectivity is involved - grossly different opinions/outcomes are possible.

As much as the grading companies and many collectors would love it to be as objective and easy as an 8 is an 8 is an 8, it is just not reality.