Dean's Cards

[bobbyw8469]

Originally Posted by CardboardandCrackerjacks

Many of their cards are insanely overpriced and overgraded. Ive seen them win auctions numerous times and immediately turn around and list the same card for 3 to 4 times the price they won it for. They are bad for the hobby.

They have bought numerous of my high grade 1933 Goudey's at auction. The last one was a PSA 6 for $200. All I can say is, they won it via .99 cent auction. Other bidders had the exact same chance to bid on the card and chose not to go higher than $200. So don't fault them for being the high bidder. Blame the under bidders for not bidding the card up.

[jayshum]

Originally Posted by bobbyw8469

They have bought numerous of my high grade 1933 Goudey's at auction. The last one was a PSA 6 for $200. All I can say is, they won it via .99 cent auction. Other bidders had the exact same chance to bid on the card and chose not to go higher than $200. So don't fault them for being the high bidder. Blame the under bidders for not bidding the card up.

I'm not familiar with prices of higher grade 1933 Goudeys. Would you say that $200 for a PSA 6 was lower than you expected? If so, then Deans buying it for that price then listing it for a higher price would make sense. If you think that $200 was a fair price then it seems like the issue isn't that under bidders didn't bid higher but that Deans is now trying to sell it for what is considered a lot higher than current market value.

[bobbyw8469]

Originally Posted by jayshum

I'm not familiar with prices of higher grade 1933 Goudeys. Would you say that $200 for a PSA 6 was lower than you expected? If so, then Deans buying it for that price then listing it for a higher price would make sense. If you think that $200 was a fair price then it seems like the issue isn't that under bidders didn't bid higher but that Deans is now trying to sell it for what is considered a lot higher than current market value.

I felt it was a bit low. Not outrageously low. But low. But it's not like you see high grade cards from 1933 every day. If he bought it for $200, I am sure it is in his store for $400. Maybe more. No telling how long he will have to sit on it. But if someone wants it, they will pay it.

[x2drich2000]

I know I've said this before, but being a card dealer is not like a typical business. Acquiring inventory takes a lot of effort and knowledge. You can't just go out and order more. Low margins may work for some, but it is a lot more hassel (cost, bidding, offers, tracking inventory, scanning, listing, accounting, etc) to replenish the inventory. If you have the resources to hold the inventory until you find a buyer, why sell low and go through that effort to constantly replenish stock? Set your price and wait for a buyer. If no one buys, eventually they would need to sell or go out of business, at which point they would be selling as well. Obviously Dean's, 707, etc must be doing something right that works for their business model or they wouldn't have been around for as long as they have.

As far as where and how much they pay for cards, my guess is in most instances there isn't a special resource no one knows about. As others have indicated here, they are competing with others for the cards they buy. They were just willing to pay more than someone else at that moment. If you're upset that they won the card and are now charging more for card you want, perhaps you should have put more effort into finding the card and bidding more to win it. If you're upset that they bought a card from you and are now selling for more, perhaps you should have set a higher price or not put it in an auction.

[jsfriedm]

I do think there is a basic difference between buying wholesale and selling retail versus buying retail and selling retail. Dealers who buy whole collections, go to estate sales, garage sales, etc., sort through collections to create lots, etc. are providing a service to collectors and should be paid for the service they provide. On the other hand, dealers who outbid collectors at auction because they have more capital and can do so are like someone who walks into a Walmart, buys out their supplies of paper towels, and sets up a table in the parking lot to sell paper towels at a new higher price. There is no utility provided to the end consumer in that instance, just price-gouging.

[ChasingPaper]

Originally Posted by jsfriedm

I do think there is a basic difference between buying wholesale and selling retail versus buying retail and selling retail. Dealers who buy whole collections, go to estate sales, garage sales, etc., sort through collections to create lots, etc. are providing a service to collectors and should be paid for the service they provide. On the other hand, dealers who outbid collectors at auction because they have more capital and can do so are like someone who walks into a Walmart, buys out their supplies of paper towels, and sets up a table in the parking lot to sell paper towels at a new higher price. There is no utility provided to the end consumer in that instance, just price-gouging.

Exactly this.