Perfect example...patience vs. BIN...

swartz1

Auctions

PSA 2 - $34

PSA 6.5 - $28

bobbyw8469

Auctions Goudey Indians

PSA 3=$24 (BIN)
PSA 6=$26.50 (Auction)

Twice as much card for a mere $2 more......

This is the norm on Ebay now.....auctions are a buyers paradise and a sellers downfall.

HoofHearted

I thought patience was paying off as I monitored a BIN (with a WAAAY too high of a price) on a '62 Topps PSA 8 Elston Howard (#400). I missed on some auctions that came up last year. Now there's nothing being auctioned and only this BIN. Last night before I went to bed I wrote to the seller asking if he'd sell it for $90 less. When I logged on tonight after work, I found his reply saying he'd do it! Cool! Turns out he replied once last night while I was in bed and then at 7:00am this morning telling me he'd dropped the BIN price. When I went to the page tonight, someone else had nabbed it. The seller had no sympathy for me as I took 24 hours to use the BIN.

Ah well. Back to my roost as I keep an eye out for another opportunity to get one of the last cards I need to complete my Set Registry...

bobbyw8469

Sometimes it is better not to low ball.....I was gonna try an experiment with a Joe Namath rookie.....price it $100 below average selling price with best offer option. See how many offers I get before someone hits the BIN.....

bobbyw8469

PS - I was looking at VCP on the Elston Howard in question. In 2008, the card sold for high $300's and high $200's with regular consistency. Only recently in 2010, has the card sold for under $100 (there has also been less sells under $100 as supply dried up). I guess cards are like stocks. They aren't ALWAYS going to go down. Sometimes they might just go back up again!

Dpeck100

Cards are like stocks. It takes a seller to meet a buyer. As the price rises naturally the turnover rises, as the price falls you finally reach a point where sellers lose interest and buyers push the price back up.

All tradable assets move up and down and then find a market clearing price.


Right now auctions are not working so sellers need to atempt to protect themselves and that is why the BIN is on the rise. Some auctions have selling prices where the seller would kill to get a do over. With the BIN at least they don't get screwed unless they agree to it.


The lack of demand is changing EBAY quickly.

HoofHearted

Here are the auctions I tracked over the last several months:

7/25/2010 PSA8 $96.31 (well centered)
6/23/2010 PSA8 $63.54 (uncentered)
6/28/2010 PSA7 $35.49 (uncentered)
8/10/2010 PSA8 $71.78 (uncentered)
8/26/2010 PSA8 $161.80 (well centered)


The BIN was for $280 and I offered $190. The card was well-centered, too. Maybe I should have bit on the $280.

Next time I'll have the seller place a "Make an offer" option on it to make sure I at least can have a shot at it before someone else gets the BIN...

diamondman

<< <i>Auctions

PSA 2 - $34

PSA 6.5 - $28 >>



and this is a prime example of why sellers should start auctions higher or just do BIN , with the economy being down it is a buyers dream on certain items , and a sellers nightmare, I guess this is why 60 of my auctions ending yesterday only 9 sold, so i relisted like 40 of the 51 and raised the starting price on 20 of those and kept the price the same on the other half. sometimes raising the price helps because they are getting a more valuable item LOL.

Ebay sometimes reminds me of a card show I did in Atlanta, I put a 10.00 bill in the case for 8.00 and had 2 people offer me like 6 & 7 dollars before a 8 yr old (the only smart one in the bunch) came up and bought the 10 dollar bill for 8, the 10 dollar bill took 2 hours and 14 minutes to sell, a real bad show. I thought about running a BIN on a 50 dollar bill for 24.99 + 18 .00 S/H, but figured I would get some clown (flea market bottom feeder)that would cry about S/H and leave me 1 or 2 star feedback for excessive shipping costs (typical ebay bottom feeder) u just can't please some people. of course if the 50 dollar bill was graded and sold for 24.99 the next one should sell for 5 to 10% less at least according to VCP mentality.

msassin

Mike - nice pick up. I think I used to have that card in a '6' and got a lot more than $28 for it.

OAKESY25

of course if the 50 dollar bill was graded and sold for 24.99 the next one should sell for 5 to 10% less at least according to VCP mentality.

this is exactly why I don't like vcp and feel it is bad for the hobby the way it is being used
it seems like it is creating a ceiling for collectors not a floor.. so prices can only go down from the previous sale
because people want a better deal

itzagoner

vcp is double-edged, for sure. but i'm convinced that i've saved a lot of time, effort AND money because of its availability as a research tool.

none better.

OAKESY25

it is great if you are a buyer.. but at some point.. buyers become sellers..
and you will see the prices in most cases are going down from where you bought

which then begs the question.. why buy?

swartz1

<< <i>of course if the 50 dollar bill was graded and sold for 24.99 the next one should sell for 5 to 10% less at least according to VCP mentality.

this is exactly why I don't like vcp and feel it is bad for the hobby the way it is being used
it seems like it is creating a ceiling for collectors not a floor.. so prices can only go down from the previous sale
because people want a better deal >>



Very valid points...

although many do NOT use VCP...

itzagoner

<< <i>it is great if you are a buyer.. but at some point.. buyers become sellers..
and you will see the prices in most cases are going down from where you bought

which then begs the question.. why buy? >>



i don't completely agree.

buyers who become sellers are dealers, mush it up any way you want, but if the intention is there, so is the label.

there are INFINITELY more collectors than dealers, don't kid yourself, if was easy to deal cards, everyone would be doing it.

what VCP allows us, the dealers to do, is make comparisons and wiser decisions for the health of our business.....so what if the margins have decreased? work harder, make it up in volume, how else to survive?

what VCP allows the collector to do is make comparisons and wiser decisions for the long term, that is what collectors who are concerned about their investments are supposed to do.

larryallen73

it is great if you are a buyer.. but at some point.. buyers become sellers..
and you will see the prices in most cases are going down from where you bought

which then begs the question.. why buy?

1) historically most items don't get down in value for ever so eventually they will turn around. Maybe this is the bottom... and maybe not. OR
2) you like collecting stuff and value is not a big deal to you.

swartz1

<< <i>Mike - nice pick up. I think I used to have that card in a '6' and got a lot more than $28 for it. >>



thanks...

I am trying to save on the "inexpensive" ones...

because I know someone has a couple of the "expensive" ones I need...