@thunderdan said:
When you say "overpricing" a card, you're assuming that a card priced above what you think is reasonable is "overpriced." And it sounds like you use VCP as a gauge to determine average prices. Many cards are priced and sell well above VCP either on eBay or privately for any number of reasons:
1) The card is extremely strong for the grade. If the seller has a great eye for cards and offers a PSA 9 or PSA 10 that clearly outshines other cards in that grade, sometimes those cards are priced at a premium. I'm willing to pay a premium on cards that outshine the average. I've paid it and I've charged it countless times.
2) Some sellers aren't dealers. They are collectors. If a collector isn't motivated to sell, he may list the price as a "make me sell" price to be willing to part with his item. He doesn't need to maximize turns or cash flow. If it sells, it sells. If not, he's perfectly happy keeping it in his collection. This tends to work when you have a card that is high in demand and rare (high grade or lower grade but presents amazing for the grade).
3) Some sellers who are dealers charge high prices because they offer (or think they offer) additional service or value beyond the actual card. Fast shipping, free shipping, no questions asked returns, good communication, answers questions, etc. To some, it's worth paying a premium to a seller that stands out from the rest. Agree with Peck that many dealers in the hobby are not good business people. All you have to do is walk around the national at lunch and see if you can pull dealers away from their lunch to talk to you. You can try to charge a premium price and not offer anything different from anyone else on cards that are very common and it won't get you very far. But many try.
I'll give you a recent example, as I tend to fall into camp #2. Recently, I listed a Star Jordan RC BGS 9 for $27K. Now, this particular copy had very strong centering and imo was extremely strong for the grade. The person I purchased it from thought so too because I paid a premium for it a year prior. Then two other BGS 9s sold on PWCC with noticeably worse centering and while they were the equivalent overall grade, I felt mine was still superior. They sold for about 30% less than what I was willing to accept for this card.
So when I got ebayers quoting those two prior sales, I explained why mine was priced at a premium. I also asked them if they liked that price so much, why didn't they buy it? They're either looking for a steal (I had many offers under 10K) or they don't place the same premium on the card's attributes as I do. Which is fine--that's part of selling on eBay. You have a ton of buyers that want an extraordinary card for an ordinary price. People love quoting you the lowest possible price on the grade for the best possible card in that grade. It used to bother me, but it slides right off me. Comes with the territory on eBay.
So the Jordan sat for 3 months on eBay eventually a buyer came around that appreciated it the same way I did. And he paid my price. I simply told him my price and that he was free to wait for another one to come around that matches or beats it. I did every thing I could to accommodate some of his unusual requests, and in the end, he got the card he wanted at a price he was willing to pay. And I got my price.
This approach has worked very well for me in the 15 years I've been back in the hobby. I'm sure I've frustrated a buyer or two, but to them they can freely choose to buy from somebody else.
I will take a stab at this as I've often wondered something. The very high priced guys have been mentioned; but obviously a couple take the cake. One in particular always has stuff like PSA 7 1959 Mays at like $900...etc. And they have lots of cards that fit this description. Other than once in a trillion years, those cards do not sell. I believe they absolutely shoot for the moon and then dump these cards with consignors after a year or 2. When you look at their selling history very few of those type cards have sold. If anyone is thinking 707....NO, his prices are actually reasonable compared to a couple.
If anyone is thinking 707....NO, his prices are actually reasonable compared to a couple.
Ran into Levi more than 15 years ago at a National. He had a couple of cards in great condition that I could NOT find elsewhere. One, 1962 Topps AL HR Leaders he wanted quite a bit over "Book" for another 1966 Killebrew he was at high book.
I politely whined about how high of a price he was asking for the Leader card he quite nicely said he had been doing this for a long time and he didn't go by the guides, he went by his experience and knowledge.
That leader card ($100.00) that day graded a nice 8 and he sure was right about it's value!
2013,14 and 15 Certificate Award Winner Harmon Killebrew Master Set and Master Topps Set
@steel75 said:
Just trying to understand the end game as a seller for knowingly over pricing a card. I know "they can ask whatever they want, just move on..." way of thinking but that's from the buyers side. From the seller perspective I don't get it. If card X has sold 10 times for $150 and you ask $250, how do you plan on making a sale? I thought that was the goal. Waiting for the infamous "sucker" to come along?
Just my rant I guess.
Supply and demand. I don’t care what a seller asks. I’ll either pay it or not.
@steel75 said:
Just trying to understand the end game as a seller for knowingly over pricing a card. I know "they can ask whatever they want, just move on..." way of thinking but that's from the buyers side. From the seller perspective I don't get it. If card X has sold 10 times for $150 and you ask $250, how do you plan on making a sale? I thought that was the goal. Waiting for the infamous "sucker" to come along?
Just my rant I guess.
Stopped looking at BIN a long time ago - it was a waste of time.
90% of my purchases are BINs. Just not from these sellers.
Kiss me once, shame on you. Kiss me twice.....let's party.
These overpriced cards... they just keep showing up in my new search results ever 30 days. That is the annoying part. It would be nice to somehow mark items as seen and even if relisted (unless there is a price drop) they will not show as new.
Yes I am talking to you Samantha.saints.sportscards. Just because your original price is $300 and you mark it down to $90, it isn’t a deal. You are still 2x too high.
Comments
Well said
I will take a stab at this as I've often wondered something. The very high priced guys have been mentioned; but obviously a couple take the cake. One in particular always has stuff like PSA 7 1959 Mays at like $900...etc. And they have lots of cards that fit this description. Other than once in a trillion years, those cards do not sell. I believe they absolutely shoot for the moon and then dump these cards with consignors after a year or 2. When you look at their selling history very few of those type cards have sold. If anyone is thinking 707....NO, his prices are actually reasonable compared to a couple.
I’m the one of the biggest non fans of Levi but Mickey is right there are a few others that make 707 look like a Dollar tree
Dollar tree = My Joe Louis card fund's best friend. I practically live there. They receive my mail there.
If anyone is thinking 707....NO, his prices are actually reasonable compared to a couple.
Ran into Levi more than 15 years ago at a National. He had a couple of cards in great condition that I could NOT find elsewhere. One, 1962 Topps AL HR Leaders he wanted quite a bit over "Book" for another 1966 Killebrew he was at high book.
I politely whined about how high of a price he was asking for the Leader card he quite nicely said he had been doing this for a long time and he didn't go by the guides, he went by his experience and knowledge.
That leader card ($100.00) that day graded a nice 8 and he sure was right about it's value!
Supply and demand. I don’t care what a seller asks. I’ll either pay it or not.
90% of my purchases are BINs. Just not from these sellers.
Kiss me twice.....let's party.
These overpriced cards... they just keep showing up in my new search results ever 30 days. That is the annoying part. It would be nice to somehow mark items as seen and even if relisted (unless there is a price drop) they will not show as new.
Yes I am talking to you Samantha.saints.sportscards. Just because your original price is $300 and you mark it down to $90, it isn’t a deal. You are still 2x too high.
I feel better now.
Nic
Guides Authored - Graded Card Scanning Guide PDF | History of the PSA Label PDF