I got a big announcement!

slidekellyslide · #1 03-10-2017, 07:43 AM

Maybe this is a topic for a different thread, but how much responsibility do we have to educate sellers? The American Pickers scenario is different in my opinion because these guys are for the most part dealing with collectors/hoarders and not dealers. In that situation you should never take advantage of someone.

I purchased a Dogs Head cigarette package at a local antique show for $50 knowing full well it was worth ten times that amount. How much responsibility did I have to notify the dealer that I was going to make a lot of money by flipping that?

There is a tag sale company in my town that seems utterly clueless when it comes to certain items. I purchased a $1000 Notre Dame v Nebraska football program out of their dollar box. Is my moral compass off?

It is my understanding that Richard is buying these cards from a dealer of some sort and not just some hapless collector shelling out big bucks for million dollar collections.

Snapolit1 · #2 03-10-2017, 08:13 AM

My parents live half the year down in Florida in one of those classic massive condo communities. I've often thought how fun it would be to put an ad in the local paper offering to buy vintage cards from seniors. Set up a handful of appointments every time I go down there. Grandpa kicks the bucket and Grandma takes a shoe box out of the closet and doesn't have the foggiest notion what it's worth. (Or "doesn't know crap" one could say.) I've though about how I would respond if all of a sudden Grandma pulls out a 52 Mantle. What if she's happy with $100. What if she says "you're a nice young man . . just take them." What do you do in that scenario? I'd like to think my response would be " . .wow. . .these are worth a lot of money. . . . . I think you should talk to [fill in the name of reputable auction house]. Let me help you get a lot of money for these . . . ."

Whenever I see those ads in the paper "Looking to Buy Cards" I always immediately translate it to "Looking to Buy Cards From Someone Who Doesn't Know Crap about the value of what they have."

Eggoman · #3 03-10-2017, 08:24 AM

Being "semi-retired', I assist families dispose of collections & partial estates due to MANY different circumstances. When I am invited into your house as a "professional" in that capacity, I will be as upfront and honest as I possibly can be.

I will tell you what I know about what you have. When I don't know something, (which is OFTEN), I will find out for you and tell you when I do know.

However, when I ATTEND an Estate Sale, Garage Sale, Flea Market, Antique Shop, Thrift Shop, etc. I DO NOT feel the need to be that honest.

If you put a price on an item, you are telling me that THAT is what you want for that item. If you feel that you know what you are doing and end up "give away" something for pennies on the dollar because you didn't do your homework - SHAME ON YOU!

MY thoughts...

Snapolit1 · #4 03-10-2017, 08:39 AM

Quote:

Originally Posted by Eggoman

Being "semi-retired', I assist families dispose of collections & partial estates due to MANY different circumstances. When I am invited into your house as a "professional" in that capacity, I will be as upfront and honest as I possibly can be.

I will tell you what I know about what you have. When I don't know something, (which is OFTEN), I will find out for you and tell you when I do know.

However, when I ATTEND an Estate Sale, Garage Sale, Flea Market, Antique Shop, Thrift Shop, etc. I DO NOT feel the need to be that honest.

If you put a price on an item, you are telling me that THAT is what you want for that item. If you feel that you know what you are doing and end up "give away" something for pennies on the dollar because you didn't do your homework - SHAME ON YOU!

MY thoughts...

I think that's a fair distinction. I certainly don't go into a clothing store and say "gee, you could be asking a whole lot more for that suit pal."

Bruinsfan94 · #5 03-10-2017, 12:28 PM

Quote:

Originally Posted by Eggoman

Being "semi-retired', I assist families dispose of collections & partial estates due to MANY different circumstances. When I am invited into your house as a "professional" in that capacity, I will be as upfront and honest as I possibly can be.

I will tell you what I know about what you have. When I don't know something, (which is OFTEN), I will find out for you and tell you when I do know.

However, when I ATTEND an Estate Sale, Garage Sale, Flea Market, Antique Shop, Thrift Shop, etc. I DO NOT feel the need to be that honest.

If you put a price on an item, you are telling me that THAT is what you want for that item. If you feel that you know what you are doing and end up "give away" something for pennies on the dollar because you didn't do your homework - SHAME ON YOU!

MY thoughts...

That is pretty much 100% true right there.

CollectingAmericasPastime · #6 03-10-2017, 01:13 PM

Quote:

Originally Posted by Eggoman

Being "semi-retired', I assist families dispose of collections & partial estates due to MANY different circumstances. When I am invited into your house as a "professional" in that capacity, I will be as upfront and honest as I possibly can be.

I will tell you what I know about what you have. When I don't know something, (which is OFTEN), I will find out for you and tell you when I do know.

However, when I ATTEND an Estate Sale, Garage Sale, Flea Market, Antique Shop, Thrift Shop, etc. I DO NOT feel the need to be that honest.

If you put a price on an item, you are telling me that THAT is what you want for that item. If you feel that you know what you are doing and end up "give away" something for pennies on the dollar because you didn't do your homework - SHAME ON YOU!

MY thoughts...

Absolutely agree.

Snapolit1 · #7 03-10-2017, 01:29 PM

I guess the OPs situation is somewhere between the hired appraiser and the store price situation. If he has stumbled upon a million dollar collection that some guy just bought and believes that the guy who bought it doesn't know the value of what he has . . . well that's neither of the above situations. I agree if someone posts a card for $100 on ebay and its really worth a $1000, I'd have no issue buying it. But if I walk into my neighbor's house and see a rare painting on the wall and say to him "hey, I'll give you $200 for that painting . . ." knowing full its some rare Andy Warhol that my neighbor is totally ignorant to, I think that's unethical.

scottbdoug · #8 03-13-2017, 11:58 AM

Quote:

Originally Posted by slidekellyslide

Maybe this is a topic for a different thread, but how much responsibility do we have to educate sellers? The American Pickers scenario is different in my opinion because these guys are for the most part dealing with collectors/hoarders and not dealers. In that situation you should never take advantage of someone.

I purchased a Dogs Head cigarette package at a local antique show for $50 knowing full well it was worth ten times that amount. How much responsibility did I have to notify the dealer that I was going to make a lot of money by flipping that?

There is a tag sale company in my town that seems utterly clueless when it comes to certain items. I purchased a $1000 Notre Dame v Nebraska football program out of their dollar box. Is my moral compass off?

It is my understanding that Richard is buying these cards from a dealer of some sort and not just some hapless collector shelling out big bucks for million dollar collections.

A used item is only worth what someone is willing to pay, and a seller can try charge what he thinks he can get or what he thinks the item is worth. To you, flipping items is easier than perhaps myself as I dont sell stuff and I have no network of buyers that you may have. So the buyer strictly speaking has no obligation to point out that they have a network of other buyers who would pay a lot more than what he is selling the item at presently.

Now saying that, I believe that a seller who is buying does have an ethical obligation to point out to someone that the item they are selling is worth more if that more falls within the 25%-33% that sellers buy things for to resell later. Would you feel comfortable buying a card that easily sells for 1000.00 and the person is selling it for 5.00 at a garage sale? I wouldn't. But I would say to him I will buy the card for 250.00, as that is approximately the value of it.

slidekellyslide · #9 03-13-2017, 12:09 PM

I buy stuff at garage sales all the time for a buck or two that routinely sell for $100+. I feel no obligation to educate sellers. I've spent decades learning the values of items. I can tell you which Atari 2600 cartridges are rare, I can tell you which vintage Newsweek and Time magazines are in demand, I can tell you which vintage Star Wars figures are rare. If a seller prices his items for sale and it's a good deal I will buy it. I would never lie to someone though if they asked me what something was worth, and I hate going to garage sales where nothing is priced and the seller wants you to "make an offer".

Eggoman · #10 03-13-2017, 12:26 PM

Quote:

Originally Posted by slidekellyslide

I buy stuff at garage sales all the time for a buck or two that routinely sell for $100+. I feel no obligation to educate sellers. I've spent decades learning the values of items. I can tell you which Atari 2600 cartridges are rare, I can tell you which vintage Newsweek and Time magazines are in demand, I can tell you which vintage Star Wars figures are rare. If a seller prices his items for sale and it's a good deal I will buy it. I would never lie to someone though if they asked me what something was worth, and I hate going to garage sales where nothing is priced and the seller wants you to "make an offer".

AGREED! Coming from ANOTHER collector/flipper who put in the time to learn about "stuff"...

It becomes a chess match of sorts... Do I, on the "buyer's side" of the table, know more than the person on the "seller's side" of the table.

The seller will CERTAINLY NOT prevent me from paying too much for something at their sale. Therefore, is it my responsibility to tell them that they have under-priced something???

I think not...

You priced it and I am willing to pay your price. However, I will NOT haggle price over something that is clearly already a bargain.

iwantitiwinit · #11 03-22-2017, 04:13 PM

Just to stir the pot a bit any update on the big announcement?

rdwyer · #12 03-22-2017, 05:45 PM

Yes, I've been doing some private sales.

Snapolit1 · #13 03-22-2017, 06:08 PM

Quote:

Originally Posted by rdwyer

Yes, I've been doing some private sales.

Has the guy located his 1000s of T cards or does he need another month?

SMPEP · #14 03-22-2017, 06:01 PM

I'll wade into the ethical obligation debate by mentioning my "original owner" standard.

If the person selling the 1952 Topps grey back is someone selling the cards their grandfather had as a kid, and they have no idea what they are selling, I'll educate them (and make a fair offer).

If the person selling the item is a professional card dealer who doesn't know what he has (which happens much less than it used to but some professionals would be shocked how many of these they sold), I won't say a thing and just buy it. Why? Well let me ask the dealer a question, did YOU Mr. Dealer give the original owner the fair market value of the item? The answer is No. You paid a faction of what you intend to sell it for. So the dealer put a price on the card that reflects the mark up from the price he gave the original owner.

In my mind, if anyone deserve the windfall profit, it's the original owner, not the dealer who didn't know what he was buying (and therefore didn't make a fair offer in the first place).

So if my professional knowledge is better than your professional knowledge Mr. Dealer, I EARNED that extra value. You didn't. And you still get the profit that your knowledge and skill earned from your original purchase. The original owner has a right to be peeved because he was taken advantage of - but not by me. It's the dealer that screwed him.

Cheers,
Patrick

richieb315 · #15 03-22-2017, 06:08 PM

Cards arrived quickly. Thanks

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