REA: 4 Planks & 5 Magies

[barrysloate]

If in fact this card sells for significantly more than it did in Legendary, the end result will be everyone will be scouring the next Legendary Auction for bargains. And of course at that point any possible chance for a bargain will be gone. The market has a way of finding its balance.

[Jim VB]

Originally Posted by barrysloate

If in fact this card sells for significantly more than it did in Legendary, the end result will be everyone will be scouring the next Legendary Auction for bargains. And of course at that point any possible chance for a bargain will be gone. The market has a way of finding its balance.

Excellent thought. I hadn't looked at it that way.

The converse is, however, Legendary will struggle, even moreso, for consignments.

[calvindog]

Originally Posted by barrysloate

If in fact this card sells for significantly more than it did in Legendary, the end result will be everyone will be scouring the next Legendary Auction for bargains. And of course at that point any possible chance for a bargain will be gone. The market has a way of finding its balance.

More and more people are simply not participating in Legendary. Grand jury investigation, lawsuits, consignors not being paid, barking dogs into phone receivers -- and add in all of their generally disgusting behavior and there you have it.

[JP]

With mine having twice the starting bid of the stained SGC 30 Plank ($5000 vs. $2500), and an OPEN estimate instead of $10-20K like the SGC 30 Plank, I think mine will exceed the price of that Plank. I can't see ANY SGC 30 Plank selling for less than $30-35K, so I've got a gut feeling my "flip" is going to well exceed my original purchase price. Chalk it up to wishful thinking if you'd like, but the card IS in far better condition than any other restored Plank -- looks like a PSA 9. It has only had its corners added to and a paint touchup....it has NOT been trimmed.

Originally Posted by barrysloate

If in fact this card sells for significantly more than it did in Legendary, the end result will be everyone will be scouring the next Legendary Auction for bargains. And of course at that point any possible chance for a bargain will be gone. The market has a way of finding its balance.

And as I've said from day one, I think Legendary/Mastro's issues and rep caused this card to sell for MUCH less than it should have.

[barrysloate]

Jeff and JP- despite Legendary's rep and disastrous PR, there are no shortage of bargain hunters out there. I don't care how much people dislike bidding with them, if there are key lots selling at 50% of retail there will be somebody looking to buy them. I realize in this instance JP's Plank may do much better this time around, but the word will get out and everybody will be scouring for future bargains. And at that point there won't be bargains anymore. It's very hard to find affordable inventory these days and I can assure you I and others will be paying attention when Legendary's next catalog comes out.

[JP]

Originally Posted by barrysloate

Jeff and JP- despite Legendary's rep and disastrous PR, there are no shortage of bargain hunters out there. I don't care how much people dislike bidding with them, if there are key lots selling at 50% of retail there will be somebody looking to buy them. I realize in this instance JP's Plank may do much better this time around, but the word will get out and everybody will be scouring for future bargains. And at that point there won't be bargains anymore. It's very hard to find affordable inventory these days and I can assure you I and others will be paying attention when Legendary's next catalog comes out.

I couldn't agree more. Do you think it will take long before Legendary's prices come all the way back to comparable with the other major houses?

I still can't believe that no one has caught on to Coach's Corner's unbelievable low prices!!!

[barrysloate]

JP- as I said earlier markets have a way of seeking their own level. If something is underpriced there is no shortage of people willing to buy it.

[Jim VB]

Originally Posted by barrysloate

JP- as I said earlier markets have a way of seeking their own level. If something is underpriced there is no shortage of people willing to buy it.

Very true, Barry. I think Legendary's problems will come from a drop in good consignments. If you had a Plank to move, why go to Legendary and have it auction for $21,000 if REA gets substantially more?

Whatever they do get consigned, there will always be buyers for.

[JP]

Originally Posted by barrysloate

JP- as I said earlier markets have a way of seeking their own level. If something is underpriced there is no shortage of people willing to buy it.

I hope you got that the Coach's reference was deep sarcasm...unless you were referencing Legendary. Coach's fake items should always stay low...until the corporate heads are sent to prison. I, too, would like a real Babe Ruth bath for $11,000.

[barrysloate]

I wasn't referring to CC. They don't count.

[Jim VB]

Originally Posted by JP

I still can't believe that no one has caught on to Coach's Corner's unbelievable low prices!!!

I don't know that there is a reliable price tracking mechanism for fake memorabilia.