I see two different types of sellers. It applies to all Sports memorabilia, but is now really evident in photos.
1) Price them high and sit and wait forever. I have found on several that I won, the sellers accepted 50%, or less, of their listed price on a BIN.
2) Price it high and wait a week or two. If no bites, drop the price. Rinse ans Repeat until it sells.
Both start fishing for the whale with poor impulse control, more money than brains, or some combination of both. One is in it for the long game and is willing to wait, the other wants to sell it, but fishes first.
I have to say that I get the second plan more than the first. I guess if you have the ability to lay out the capitol and wait, you can bet that prices will rise to your asking price eventually.
I will say there is not much more annoying than someone who beats me out on a photo at an auction and then lists it on ebay for double, triple, or more, only to have it sit there for months or even years sometimes. Perhaps they think the people who lost will look to buy it from them. Perhaps, but not me. I have never bought a photo from a reseller that I lost it to in an auction. I'll just live without it.
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