Big Time auctions $$$ wow

ALBB · #1 04-12-2019, 09:26 AM

Probably nothing new to the big time veteran bidders at some of these top shelf auction houses...but

Wow, you see a somewhat rare card thatyou need -$ 500-$900 range....with the hammer fees/buyer premium/ whatever they call it....makes a 500 bid...maybe 600..and so on

makes you wonder - for example a card you want, that you say...hmm in that shape,rare and all....my bid of 600 is a bit more then its worth..but I " need it " ...you bid.. you win...they tack on another 100.....now you say - great I got the card..but with your overbid and the premium..you say ...wow....How am I ever gonna get my money back on this one some day....never mind trying to make any money on it

and if Im not mistaken...if someday you put that same card in a big time auction....your card sells...and they take 10 % of the sell price

somebody is making out pretty good

pokerplyr80 · #2 04-12-2019, 04:59 PM

It's best to factor buyer's premium in when making your bid. That way you're not surprised when you get the invoice.

Promethius88 · #3 04-12-2019, 06:10 PM

"How am I ever gonna get my money back on this one some day....never mind trying to make any money on it"

Buy what you enjoy and the return doesn't matter.

Republicaninmass · #4 04-12-2019, 06:31 PM

Jake, is that you?

ALBB · #5 04-13-2019, 06:29 AM

Hmm, I might try that...buy everything I enjoy..don't worry about price, or overpaying..and then don't worry about the return on the cards

Empty77 · #6 04-13-2019, 08:33 AM

Quote:

Originally Posted by ALBB

somebody is making out pretty good

In this way auction houses have a similarity to casinos: they always win.

Sure a bigger bid price brings a bigger take in fees, but since any sale earns consignment fees + buyer premiums, they win no matter what the bid price is. For them it seems as much about volume as anything, so they win the most if there is a lot of buying and re-selling and the same item passing through many hands as often as feasible....

(note: I've certainly done my fair share of "overpaying" for things I "need". I have settled into the perspective of this being an expensive hobby to keep, for myself, and not be concerned with it needing to pay for itself later)

71buc · #7 04-13-2019, 09:00 AM

I'm a small fish and seldom venture out of the $300-$500 depth of pool. My biggest purchase in an auction was just over $2100. I recall having the exact same thought, "How am I ever going to justify this purchase or recoup the funds"? I realized that if I won the item I actually valued the item more than anyone already. The prospect that the funds could be recouped were then, and are now pretty dismal. This is only compounded by the rarity of the item. Nonetheless, I obviously pulled the trigger despite these factors. I love the pennant and remain extremely pleased that I did. Its collecting not investing in my case.

swarmee · #8 04-13-2019, 09:17 AM

Don't be so dire. As discussed on the main board, there is a whole new wave of well-heeled collectors my age continuing to start their own collections.

Mark70Z · #9 04-13-2019, 10:27 AM

I’m like Mike above, small fish, but I only buy what I like and can afford (most of the time). I’m not worried at all about resale, but if I needed the money I’m sure I could get something out of the junk I have accumulated. It’s a hobby to me. If you’re looking for profit and/or paypack the I’d purchase much differently then I do now.

rats60 · #10 04-14-2019, 04:39 AM

Quote:

Originally Posted by 71buc

I'm a small fish and seldom venture out of the $300-$500 depth of pool. My biggest purchase in an auction was just over $2100. I recall having the exact same thought, "How am I ever going to justify this purchase or recoup the funds"? I realized that if I won the item I actually valued the item more than anyone already. The prospect that the funds could be recouped were then, and are now pretty dismal. This is only compounded by the rarity of the item. Nonetheless, I obviously pulled the trigger despite these factors. I love the pennant and remain extremely pleased that I did. Its collecting not investing in my case.

You would think that you are the one who will pay the most, but not necessarily. If you aren't going to far over previous sales, it seems easy to sell for more. I see cards from big auctions like REA instantly listed for sale on EBay. I see prices that cards sell for in PWCC auctions, way above those at AHs. I see cards listed even higher on here. It seems that there is no ceiling to prices for cards.