[bnorth]

Originally Posted by Rhotchkiss

Ben, for a $30k(ish), you are not paying a seller’s premium. In fact, you should get a portion of the buyer’s premium. And you have no tax liability if you sell a card at a loss- you have no income, only partial recovery of basis which was after tax dollars and which is not taxable. So, your loss is likely your cost (including taxes and shipping), minus the hammer + whatever portion of the BP you may be able to negotiate.

Originally Posted by Snapolit1

1. No one in their right mind pays a seller's commission consigning a $25,000 card. If they do, frankly, they are uninformed.

2. There is no tax ramification of me buying a card for $30,000. Or a million dollars.

3. If I sell something for more than I bought it for, only then do I owe taxes. And then, by definition, I haven't lost money on the sale.

4. If I bought a nice vintage card for $30,000 and had to sell literally tomorrow, ok, maybe I sell it for $28,000 or $27,000 in the next auction, WORST case scenario.
That's no doubt where the runners up landed. And I've lost maybe 10%. Nowhere near 50%.

5. If you paid 7% sales tax, tell the AH you want 107% of the hammer. Exactly what I've gotten from one of the major AH's many times.

Thanks guys. I don't swim in the deep end of the pool so I didn't know. Maybe i should have read one of Bob's epic posts on taxes.

I do feel it is important to know about selling a card that is expensive to the buyer even if they don't plan on selling.