My road to success (Moving Update 2) 8 8

[uchiha101]

Did you trade for it in person or was it more of an online trade like say, Facebook?

 

The ASM #129 was easily a $1000 USD in your pocket (going by GPA)...Last sale was $1600...Why bother to trade it at all? If movie hype is your thing, the Punisher is coming to Netflix in Daredevil and a always popular book is getting another shot in the arm...

 

If $$$ is important to you and your family, why did you not just sell it instead of dinking around? You could have sold that book and bought yourself a very nice graded Harley with $$$ to spare...

 

What was the reasoning for making such a trade? Do you have GPA?

 

Based on what a graded 9.0 BA #12 goes for, a CGC 9.0 Harley is around $500 - $600 if I'm looking at the right book in GPA...Using just the 90 day averages, you just "gave away" over $600...

 

In previous entries you posted this was a good thing to acquire but I think you should present the full story if the point of this journal is to get advice, at first it was "hey, cool 1st Harley" and now it is kind of

 

Uhmmm...How did the other party "blackmail" you?

 

My plan was to sell it at it's peak to make the most money like you said and this was a deal on facebook not in person. My reason for making that trade was black mail he said if I back out he would post in the facebook groups that I'm a scammer. I do have gpa which is why I wanted to keep and sell the asm 129 for a good profit.

 

The deal went down something like this because I posted that I bought a asm 129 and was excited

 

Him: "hey you have a asm 129 cgc 9.0 right?"

 

Me: "I don't have it yet but I bought one why?"

 

Him "I have a ba12 about a 9.4 raw"

 

Me: "ok show me pics"

 

(he showed me pics and I didn't agree with his grading so I asked if he wanted to do a cash plus trade deal and this was when gpa on the asm 129 was 1075)

 

Him "what do you think?"

 

Me: "I don't agree with your grading because your overgrading and over valuing the comic as it's raw"

 

Him "ok how about this? the ba12 plus 300 cash?"

 

Me: "that's sounds fair when I get it I'll let you know"

 

Him: "cool"

 

(the comic now arrived)

 

Me: "ok I got the comic and since the value of asm 129 went up would you add 100 bucks? because if not I'd like to keep it since it will go up in value"

 

Him: are you backing out of the deal? you said you agreed and now your backing out of it?"

 

Me: "The values of the comics aren't even anymore so if you can add a little more cash we can still do this"

 

Him "No what I gave you is fair all the dealers I went to said this is a 9.4 without a press"

 

Me: I don't want to lose money on this trade"

 

Him: "You won't trust me"

 

Me: "I don't want to do the trade if you won't add some more cash to your part"

 

Him "If you back out of this deal I'm reporting this to all the fb groups that you tried to back out of a deal and scam me"

 

Me: "I didn't scam you and we didn't fully agree on the trade"

 

Him: " I don't care you went against your word and you are trying to scam me now"

 

Me: Fine! I'll do the trade ok?"

 

Him: "good"

 

(keep in mind I asked him to do the extra cash part when then comic's value was at 1225 and I would take a little lower yes but I'd still make a decent profit on it or so I thought)

 

 

Said it before,

 

That bolded line is my mistake? so what should I have said?

 

It's not what you should have said

 

You shouldnt have shipped the book. Period.

 

Even with $100 kicker you were begging for..... there is not enough of a profit margin to make this trade worthwhile

 

With the 100 more I was asking I would have made a profit I'll explain

 

I bought the comic for 950 and I though his ba12 would be worth around 750

 

so that would mean I need to cash at least to make a profit on it and I said I wanted 300 so to me that margin of profit would do well for me since it's a quick sell

 

now to where it was worth 1225

 

his comic is worth around 750+300 cash

 

this is where I said I don't feel I want to trade it but if he put in extra 100 I'd do it and take a bit lower profit on the comic

 

so taking that into consideration it would go like this

 

I paid 950 for the asm 129

his comic is worth 750+400 cash = 1150

 

1150-950=200 profit for me as it would be a quick sell and easy to move it

 

 

[uchiha101]

I don't think this qualifies as "blackmail"...

 

Bullying maybe. However, if the worst the guy said was that he was going to post on FB that you were 'scamming him' you could have simply told your side of the story and let the chips fall where they may. There was a reason why he was pushing you like that. He knew he had one on the line.

 

If the worst thing that happened is some guy alleged you were a scammer on a FB group...Who cares? I've seen some of your FB posts. Stay away from trades on FB and maybe stick to selling in respectable venues until you get a handle on things.

 

I've tried this respectable venue when I've done sales threads here before and all I get is "nice comics" I don't even say that anymore and haven't for a while and since no one was taking my sales seriously I was selling on ebay or fb

[Peter G]

I think you have to target a higher profit margin

 

Minimum 30% profit margin to cover time and overhead

 

40-50% is an ideal target

 

This deal is too tight as is

[Peter G]

Sometimes you have to sit on your hands and not do a deal

 

I think an earlier poster referenced that you need to calculate "margin" + "inventory turn time"

 

That is sound advice

[uchiha101]

You make a deal in advance, stick to the agreed upon deal. Your word is the most important thing

 

That guy held his comic for you giving up other opportunities to sell it. You essentially had a forward commodities exchange contract, agreeing to trade X amount of silver for X amount of gold on a date in the future, regardless of what actual market prices were on that date. It's a thing.

 

Also you gotta think like a dealer in terms of your profit margins and inventory turnover times too. What does that mean? Please go work on finding out.

 

I partially agree with what you say. His opportunities to sell? others like me said that he was overgrading the comic and he kept lowering the price and still no one wanted to buy or make him a offer and I should know I kept I eye on his posts. I do however agree once I give me word I should keep it regardless of what happens to the value of the comics and I learned that with this mistake.

[uchiha101]

I think you have to target a higher profit margin

 

Minimum 30% profit margin to cover time and overhead

 

40-50% is an ideal target

 

This deal is too tight as is

 

my dad told me that as well and I mentioned before my previous mistakes are overpaying so I'm learning to pay less for comics but turn them for a higher profit margin.

[Peter G]

I think you have to target a higher profit margin

 

Minimum 30% profit margin to cover time and overhead

 

40-50% is an ideal target

 

This deal is too tight as is

 

my dad told me that as well and I mentioned before my previous mistakes are overpaying so I'm learning to pay less for comics but turn them for a higher profit margin.

 

 

Ok kid.

 

Good Luck.

 

Sincerely wish you the best.

 

In due course, hopefully you learn to avoid pitfalls.

 

Try to go to conventions and get a feel for the market is my advice.

 

Maybe just build up an inventory and collect and worry less about flipping books until you have more experience

[uchiha101]

Sometimes you have to sit on your hands and not do a deal

 

I think an earlier poster referenced that you need to calculate "margin" + "inventory turn time"

 

That is sound advice

 

I heard people give me different answers as to what inventory turn times should be and I don't know what to believe anymore

 

I've had a answers of a week's time all the way till a years time.

[Wall-Crawler]

I personally think ebay is a great selling venue.

 

FB is .

 

You need to look inward as to why sales threads here are not working and work on how you manage them and what you project...I don't sell here as much as I should so take that with a grain of salt.

 

For all that work you could have just flipped the ASM #129 and ended up in a better place with less drama and waiting. Regardless just get that book graded and out the door and move on.

[uchiha101]

I think you have to target a higher profit margin

 

Minimum 30% profit margin to cover time and overhead

 

40-50% is an ideal target

 

This deal is too tight as is

 

my dad told me that as well and I mentioned before my previous mistakes are overpaying so I'm learning to pay less for comics but turn them for a higher profit margin.

 

 

Ok kid.

 

Good Luck.

 

Sincerely wish you the best.

 

In due course, hopefully you learn to avoid pitfalls.

 

Try to go to conventions and get a feel for the market is my advice.

 

Maybe just build up an inventory and collect and worry less about flipping books until you have more experience

 

I will learn to avoid pitfalls for sure because with all the mistakes I'm making I'm learning from them and the guys on this forum are great with advice and I'm sure you think I'm ignoring what you say but I wouldn't ask if I didn't want to listen

[uchiha101]

I personally think ebay is a great selling venue.

 

FB is .

 

You need to look inward as to why sales threads here are not working and work on how you manage them and what you project...I don't sell here as much as I should so take that with a grain of salt.

 

For all that work you could have just flipped the ASM #129 and ended up in a better place with less drama and waiting. Regardless just get that book graded and out the door and move on.

 

That's what I thought too because the sig will take to long plus how long it will take to get graded and pressed will take to long so I'm taking your advice and as soon as I get it pressed and graded I'll do my best to sell it because the suicide squad movie is about 10 months away

[uchiha101]

(ok I gtg pack and ship the comic I sold you guys keep writing and I'll respond later )

Edited October 14, 2015 by uchiha101

[rsouxlja7]

A lot of huge problems here:

 

1) Your business is centered around speculation

2) You don't get how having a book graded adds to the value

3) You overprice and advertise to a limited audience (see: same books for sale on FB for months? more than a year?

 

My advice: list the stuff you've been sitting on for months with a starting bid of how much you've paid for it on eBay with a 1 week auction, recoup the money you sunk into this, and revamp your business angle. This is clearly not working for you man.

[uchiha101]

A lot of huge problems here:

 

1) Your business is centered around speculation

2) You don't get how having a book graded adds to the value

3) You overprice and advertise to a limited audience (see: same books for sale on FB for months? more than a year?

 

My advice: list the stuff you've been sitting on for months with a starting bid of how much you've paid for it on eBay with a 1 week auction, recoup the money you sunk into this, and revamp your business angle. This is clearly not working for you man.

 

1) My business is centered around speculation since that's what I've bought and I now need to sell it.

2) I know a graded book is worth more because there is no guessing in the grade plus the cost of getting it shipped there and graded. Is that what you mean?

 

3)I overprice my comics because I overpaid for them so I'd rather wait I little bit longer and make a smaller margin of profit then take a loss because if I were to do that I'd be sunk before I even get a chance to start.

[rsouxlja7]

#1 - Well yeah, but you're buying stuff when the books are hot and when everyone else is buying it. The key to speculation is guessing on future events, not to act on stuff that has already affected the price of the book, such as the announcement of a movie.

#2 - some of your books for sale, such as a SA Batman (can't remember the #), are mid-grade, not keys, and there's no reason for anyone to pay a premium on the book just because it is graded. I would be very surprised if you could sell that book for more than a raw one in the same condition. So that's $35 lost in grading fees or whatever it is.

#3 - This is why you shouldn't be making purchases for hundreds of dollars if you don't understand what you're buying. Start smaller with $40-$50 key issues, not $500+ books that can't be sold (such as those coverless JLA1s or whatever it was).

[Point Five]

Not to pile on, but just my as you move forward... the back-and-forth in your conversation with the BA 12 guy is a textbook case of why I am not a fan of trading in general. Just so many complications when you are not comparing apples to apples, and the potential for shifting goalposts if one of the two parties is not happy.

 

 

[uchiha101]

Not to pile on, but just my as you move forward... the back-and-forth in your conversation with the BA 12 guy is a textbook case of why I am not a fan of trading in general. Just so many complications when you are not comparing apples to apples, and the potential for shifting goalposts if one of the two parties is not happy.

 

 

I've done 4 trades before this and if benefited both parties this time it didn't but next time I'll be more careful about what I say.

[uchiha101]

#1 - Well yeah, but you're buying stuff when the books are hot and when everyone else is buying it. The key to speculation is guessing on future events, not to act on stuff that has already affected the price of the book, such as the announcement of a movie.

#2 - some of your books for sale, such as a SA Batman (can't remember the #), are mid-grade, not keys, and there's no reason for anyone to pay a premium on the book just because it is graded. I would be very surprised if you could sell that book for more than a raw one in the same condition. So that's $35 lost in grading fees or whatever it is.

#3 - This is why you shouldn't be making purchases for hundreds of dollars if you don't understand what you're buying. Start smaller with $40-$50 key issues, not $500+ books that can't be sold (such as those coverless JLA1s or whatever it was).

 

1) Yes at the beginning I bought before I even understood what that all meant which is why I'm now doing my best to buy before it affects prices.

 

2) It was a batman 189 and the reason why I was asking more is because that's what my client wants me to sell it for and it was a consignment.

 

3) With the coverless comics and the jla #1's I bought it was my second purchase ever so I just over paid because I didn't know any better so I have to atone for my mistakes.

[W16227]

wow - lots of stuff here -

 

Gabriel - you obviously are dedicated to making this work. This is a positive trait - but make sure you are also flexible in your business model.

 

 

Some advice for you - (and a lot of this is almost the same as others have posted - hopefully some will sink in)

 

1. SIMPLIFY - you need to pull back. It is almost like you are trying to do everything at once - but without experience and a LARGE bankroll - this is dangerous. It can also be confusing - as you try and manage too many things at once.

 

2. TRADING: Do NOT trade. I have seen a couple that you have done (this one - and trading a lot of avengers for graded infinity gauntlets) --- and it is hard to see where the positives may lie for you. A graded 129 is a VERY good book to have regardless of any movie or TV hype. It never should have been part of any trade for a single book. If anything - a trade locally for say 100 books that can sell for $20 a piece may have been a better trade (but not one I or many would have made).

 

You need a LOT more experience with books as a whole before you trade as part of the business. It is hard to "uptrade" and get more value than you give- and can open you up to being taken advantage of.

 

 

3. Speculation - cannot be your ONLY strategy. A lot of the books you mention purchasing - you seem to be buying individually or in small groups on the upswing. Buy and hold - some books have historically been good for this - hulk 181 for example - but movie hype is fleeting, unpredictable, and may not even be a thing in a year as we are now flooded with movies. If you still have those infinity gauntlets - look at what has happened to #1 recently - it is still at a decent price but falling a bit. It may get some bump once the final movies are around the corner - but that is a long wait, especially for a very common book (over 700 CGC 9.8 alone ).

 

4. Buying strategy:

Key books are great - but expensive. Even if you buy in a small batch - they will still have a lot lower margin than others. You need to find a way to purchase more in volume - at some level of discount. Low cost bins at a comic shop - or show - are GREAT hunting grounds when starting out. Local shows - closer to close on the final day? - this is dealing time! Many of the larger dealers will be blowing out lower stock as they get this in BULK.

 

Develop a strategy for buying local collections. Whatever the "craigslist" of Canada is - this is your morning read. Things may not turn up quickly or constantly - but there will be some good finds out there. This is your very best way to get a nice inventory for the least amount of investment. BUT - it is hard work and you do have to look at many collections that you will not buy.

 

5. Selling - limit yourself to 1-2 selling outlets for now. Each that you have listed here (FB, CGC boards, Ebay) - need some fine tuning for selling - and I would avoid FB line the plague. I know that some do really well there - but it is much more of a "wild west" out there.

 

Selling here - one thing to realize is that the buyers here are VERY picky!!!! This is NOT a bad thing, but then again it sometimes makes things more difficult. Average common books will most likely not sell - you have to bring something nice. BUT - you also have to price properly. I was looking at your pre move "sell it all" listing - if it was not for local pickup only, I might have made an offer - but you might not have liked it. Looking over all of the books roughly - it looked like I could put together all of the more desirable books for less than half of what you were asking for - individually. Just like buying - if you are selling a LOT of books and they are not top tier - then you are not going to get full GPA for them. GPA - most of this data comes from the big auction houses (ebay, HA, Clink) - that charge commissions. With no commissions - most will likely pass on a book priced at the high end of GPA - or make you a lower offer. Take your BATB 28 consignment - the last three sales -4000, 4302, 5400. The price you have listed now - is 5800. Not incredibly high (and much better than the first listing) - but might sit for a bit at t hat price.

 

If you are trying to sell a bigger book - make sure to check over other listings and GPA. You have a coverless JLA 1 for 300 - I found one for 200 on another site. You have a .5 listed for 600 when 1.0 books have been selling for 300. You have a JLA 1 1.8 listed for 900 --- but another 1.8 is 800 and a 2.0 at 900.

 

6. Cash flow - there is no magic formula that will help you figure out how long to hold a book. What may be more useful - is to figure out how many books you can list and manage at once. If that number is close to what you have on hand --- then you should not be holding on to anything really. People with large inventories - have a LOT more flexibility than a smaller seller. They can hold higher value books to keep their listing a mix of everything - and have the luxury of holding on to a book in case there is "movie" upswing. But - since they are already selling a lot - they have cash flow and (hopefully) profit coming in. An example from my latest collection buy - I have the top 14 books in the press/slab cycle. They will all do well. When I get them back - I will probably sell of 3-4 pretty quickly. This is to pay back a large chunk of the purchase (and grading) costs. The rest - go in the safe. I have the rest of the collection that I can focus on selling - and still be making a nice profit on those books. I know the books that I will be keeping are stable in price - so there is no need to get them out there (some are keepers anyway). Contrast that to a past discussion of the Infinity Gauntlet slabs that we discussed earlier in this thread. You had ~ 9 of them, 6 were 9.8. Now - if you are holding on to all of them - you are NOT maximizing any level of profit. Even if there is a bump later - selling 9 at once is not that likely - and there are a LOT of these for sale now. Just imaging if the price goes back up 10% - even more will come out for sale. You would be better off having one of the 9.8 and one of the 9,6 listed right now! - sell as many as you can - keeping 1-2 as backup in case of any renewed hype bump. This will get you more $$$ back - that you can use to buy more books - and get them listed and sold.

 

 

 

 

if anything - go back and read FTs one man show journal. This is a great example of how to work a one person show. You seem keen on skipping a LOT of steps that are extremely valuable on the learning curve. Making a mistake on some $15 book? -can be an easy fix and you are only out $15. Jumping ahead of the curve and making a mistake on a ASM 129 --- MUCH more costly.

 

 

 

 

 

 

 

 

 

 

Edited October 14, 2015 by W16227

[revat]

Lot of good info above

 

Also please take a basic accounting and a few basic business classes. Comic dealing isn't for everyone, but if you're gonna force yourself into it ir any self employment, you need to know the basics.

Also i suggest building relationships w local dealers or shop owners and volunteeeeing to help at cons to get experience

 

Simply put, there's no way to skip any of these steps if you're not starting out with a great collection of your own or huge capital. Lots of non pros ariund here just paying attention to trends, keeping an eye out for collections or hot comics at shows or lcs and turn $1000-$2000 into $4-5k or more each year. Yes it takes some, but it's no ones goal to turn $2k into $2300

Edited October 14, 2015 by Revat