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  #1  
Old 12-05-2012, 04:07 PM
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Peter Spaeth
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Quote:
Originally Posted by bbcard1 View Post
Economy talk could be bad for it with the closing time at 12/15. There's a lot more bickering coming down the pike....
I doubt that will affect anyone in the running to buy the Plank....
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  #2  
Old 12-05-2012, 04:08 PM
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Isn't the capital gains tax supposed to increase in 2013? That could mean many people are selling out of stocks now to take gains, thus having extra cash for December.
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  #3  
Old 12-15-2012, 02:08 PM
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Originally Posted by sportscardpete View Post
Isn't the capital gains tax supposed to increase in 2013? That could mean many people are selling out of stocks now to take gains, thus having extra cash for December.
If that's what they are doing in this case, they failed miserably. It was purchased less than a year ago so it doesn't qualify for capital gains tax. It's taxed as regular income.
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  #4  
Old 12-15-2012, 02:27 PM
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Actually no, it's a flat 28% collectible tax, irregardless of when it was purchased.

And the OP was referring to people selling appreciated assets(i.e. stocks and mutual funds) at the current years rate on capital gains and using those funds to acquire cards such as the Plank.
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  #5  
Old 12-15-2012, 02:56 PM
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Yes, it was a painful lesson to learn that gains on sales of collectibles are not taxed as capital gains.
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  #6  
Old 12-16-2012, 07:36 AM
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72 500$ wow a big lost for the last year buyer and price drop !!!!!!
Last edited by g_vezina_c55; 12-16-2012 at 07:36 AM.
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  #7  
Old 12-16-2012, 08:09 AM
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It was a weak 5 and the typical washed out 350 series. A nice 150 would have brought double this price.
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  #8  
Old 12-16-2012, 12:08 PM
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Another plank for sale... psa 5 SC350.

http://www.lelands.com/Auction/Aucti...lank-(PSA-5-EX)

bidding end on 21 dec...
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  #9  
Old 12-16-2012, 12:14 PM
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Quote:
Originally Posted by g_vezina_c55 View Post
Another plank for sale... psa 5 SC350.

http://www.lelands.com/Auction/Aucti...lank-(PSA-5-EX)

bidding end on 21 dec...
I agree with Scott. The other thing is that with this second (and IMHO nicer) example coming up, it may have effected how aggressive bidders would be.
JimB
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  #10  
Old 12-19-2012, 08:15 PM
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Originally Posted by calvindog View Post
Yes, it was a painful lesson to learn that gains on sales of collectibles are not taxed as capital gains.
Yu did something by the book?? Christ I am losing respect for you Jeff!
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  #11  
Old 12-19-2012, 08:21 PM
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Quote:
Originally Posted by calvindog View Post
Yes, it was a painful lesson to learn that gains on sales of collectibles are not taxed as capital gains.

Quote:
Originally Posted by danmckee View Post
Yu did something by the book?? Christ I am losing respect for you Jeff!
Canada is a good taxing jurisdiction for sales of collectibles. Unless you are a dealer, any gain on cards or memorabilia is taxed at the capital gains rate, which in my home province is 21.85% (i.e. only 1/2 of the gain is taxable, highest marginal rate of 43.7). As well, there is a $1,000 floor on the cost, which means that you only pay tax on gains where the proceeds exceed actual cost or a deemed minimum cost of $1,000. Losses on cards are not deductible against gains, however.

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Last edited by baseballart; 12-19-2012 at 08:22 PM.
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  #12  
Old 12-15-2012, 03:02 PM
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Quote:
Originally Posted by sb1 View Post
Actually no, it's a flat 28% collectible tax, irregardless of when it was purchased.

And the OP was referring to people selling appreciated assets(i.e. stocks and mutual funds) at the current years rate on capital gains and using those funds to acquire cards such as the Plank.
Missed that. Thanks.
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  #13  
Old 12-05-2012, 04:54 PM
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Quote:
Originally Posted by Peter_Spaeth View Post
I doubt that will affect anyone in the running to buy the Plank....
X 2

Anyone who might be a serious buyer for that card have enough money for buy the plank + all his christmas gift
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  #14  
Old 12-05-2012, 09:55 PM
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Quote:
Originally Posted by g_vezina_c55 View Post
X 2

Anyone who might be a serious buyer for that card have enough money for buy the plank + all his christmas gift
Yeah, good call...

Thanks for the insight, all. It's great to hear there are big fish here. Congrats to them, and here's to hoping we can all match their collections in some form or another in due time!
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  #15  
Old 12-12-2012, 02:05 PM
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67 500 and a couple days before the end...
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  #16  
Old 12-12-2012, 02:12 PM
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Don't worry, the $67,500 is just my placeholder bid.
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  #17  
Old 12-12-2012, 06:14 PM
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No wonder what the final price is, remember what type of guy that card commission is going to...
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  #18  
Old 12-15-2012, 07:29 AM
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Bidding end tonight !
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