Free Updates

Let us tell you when new posts are added!

Email:

Navigation

Categories

Search

Archives

<January 2009>
SunMonTueWedThuFriSat
28293031123
45678910
11121314151617
18192021222324
25262728293031
1234567

More Links










 Monday, July 14, 2008
Buying and selling ethics – some good discussions
Posted by Chris

PL_AnnualGarageSale_8.jpgLast week, some Gavel Chat members and myself had some debates about Mr. Mint and other dealers' buying practices. Some people have a problem with hard-nose dealers, and some even question how honest certain dealers are.

I stick to my thoughts that as long as nobody is forcing someone into selling something, no matter how much under market value they might be paying the person, that there is no problem with how the dealer going about this. It is the seller's responsibility to research what they are selling and charge an amount at what they are comfortable with.

I thought it would be fun to get Gavel Chat Nation's opinions on the following four scenarios.

If you were the buyer in these four instances, what would you do?

1.) There is a Michael Jordan UDA signed basketball on eBay. The min. bid is $9.99 with a "Buy It Now" of only $300 (way less than market value).

2.) You are at a rummage sale and someone has an authentic EX+ Roberto Clemente 1955 Topps rookie card for sale for $10.

3.) You are set up as a dealer at a card show and someone has $10,000 (current market value) of baseball cards from the 50s to sell you. They are requesting that you pay them $1,000 for the lot of cards.

4.) That same lot of cards comes up and this time the person has no clue what they are worth, but doesn't request the $1,000 and is taking offers. How do you go about that situation?


Here is what I would do... I would like your thoughts. Please respond in the "Comment" field.

What I would do:

1.) I would have no problem hitting the "Buy It Now" button and paying $300, even thought that is way less than they should be asking for this piece.

2.) I would get my Alexander Hamilton out so fast that I might tear it in two.

3.) I would pay the amount he requested. $1,000.

4.) I would explain to the person what the current market value is and offer him about 30 percent.




7/14/2008 11:12:25 AM (Eastern Daylight Time, UTC-04:00)  #  Comments [3]
7/16/2008 2:22:29 PM (Eastern Daylight Time, UTC-04:00)
Chris, I think you're right on with your first 3 scenarios. I might offer as much as 50 percent of market value on scenario 4, but only if I knew I could sell the bulk of those cards soon.

With today's technology, anyone with the time and desire can get a pretty good understanding of what the true market value of an item is. But all that research takes work, and also the patience to hold out for the best price from the right buyer. Sometimes it may be worth it to call a guy with a wad of cash to come to your house.
7/16/2008 5:22:59 PM (Eastern Daylight Time, UTC-04:00)
Jim,
Exactly... Some people that rip on dealers for shorting the sellers are the sellers fault. If you're in a hurry to get the cash and surpass the research process, that's on you and not the dealers.
7/16/2008 6:18:10 PM (Eastern Daylight Time, UTC-04:00)
#1 .I would pass on the Jordan item.I don't collect basketball so the item at a low price dosen't get the money.I collect for the fun of the hobby not the Money or Profit aspect. #2 I would buy in a heart beat. Clemente is my favorite player and adding that to my collection would be fantastic .#3 I pay what they are asking and it goes into my personal collection not to be sold. #4 This is the toughest but I would make them a fair offer (depending on condition of the material)but would mostlikely be a deal more in my favor honestly. Brett
brett 75
Name
E-mail
Home page

Comment (HTML not allowed)  

Enter the code shown (prevents robots):