uchiha101 Posted August 24, 2016 Author Share Posted August 24, 2016 Updates I've been approved and signed up for the visa with a limit of 2k My laptop got fried but I managed to get the files out of it so if you think I'm ignoring you guys I'm not. BB28 The comic has been shipped so all I'm waiting for is that my friend is happy with the comic. If you've applied for this, purely to get deals on comics (how stupid of me .. of course that's why) .. what happens when you go over the credit limit? If you go crazy .. expect a knock on the door from people who will want to claim that money back. Your prized, high-item books .. $5 each .. that's probably what value they'll put on each one to get their money back .. a comic book is a comic book to anyone who doesn't know the different values, right? Your stock AND personal comics will be WIPED OUT! Let's face it, you've made less money on comics than you've laid-out. You have a minimal wage job to support your lifestyle .. adding a card to the mix is potentially (no real potentially about it) dangerous and irresponsible if you have issues with money and not budgeting etc .. this is not a good move for you. Agree times infinity. This is trouble waiting to happen. What is the interest rate on the card you were approved for? 19.99% To echo a previous comment, cut it up! At 20% interest, your monthly payments aren't even likely to bite into the principle. Why would I waste my time with monthly payments? At that rate I would be in debt for sure that's why I said I go for quicker flips and pay off what I buy before the 30 day grace period ends. OK, and what happens when you buy a book on the credit card and then can't find someone to buy at a profit within 30 days? If that were the case I would make sure it's a comic that I'd be able to pay off quickly before the interest rates come into effect. Link to comment Share on other sites More sharing options...
revat Posted August 24, 2016 Share Posted August 24, 2016 How did the purchase price of the book go from $1200 to $1950? when his friend decided to "buy out" uchiha's 42% stake in the book (based on the 500/700 purchase price split) for $1250 (paying uchiha's $500 stake, plus giving him an extra $750??!) his friend ended up investing $1950 to own a book worth $1900 (or so), but owned it outright, as opposed to investing just $700 to own 58% of a book immediately worth more than they bought it for. I need to find friends like that. Yes that's how the deal worked out for future reference, you should work on your skills to describe this kind of deal. If you want people to take you seriously, you need to be succinct and clear. the fact that so many experienced comic people could not understand what is going on should cause you concern. Should have been this: Original deal: My buddy and I went in together on a $1200 book, with him putting in $700 and me putting in $500. Its worth around $1900-$2000 and we expect it to go up even more. We will sell it and split the profits. New Deal: Buddy changed his mind, decided he wanted to own the book outright, so he put up the $1200 for the book AND paid me a $750 finders fee. Which is way better for me, didn't have to front any money and I made $750! Link to comment Share on other sites More sharing options...
Junkdrawer Posted August 24, 2016 Share Posted August 24, 2016 Best post of this whole damn thread. There may be hope Link to comment Share on other sites More sharing options...
Foley Posted August 24, 2016 Share Posted August 24, 2016 Updates I've been approved and signed up for the visa with a limit of 2k My laptop got fried but I managed to get the files out of it so if you think I'm ignoring you guys I'm not. BB28 The comic has been shipped so all I'm waiting for is that my friend is happy with the comic. If you've applied for this, purely to get deals on comics (how stupid of me .. of course that's why) .. what happens when you go over the credit limit? If you go crazy .. expect a knock on the door from people who will want to claim that money back. Your prized, high-item books .. $5 each .. that's probably what value they'll put on each one to get their money back .. a comic book is a comic book to anyone who doesn't know the different values, right? Your stock AND personal comics will be WIPED OUT! Let's face it, you've made less money on comics than you've laid-out. You have a minimal wage job to support your lifestyle .. adding a card to the mix is potentially (no real potentially about it) dangerous and irresponsible if you have issues with money and not budgeting etc .. this is not a good move for you. Agree times infinity. This is trouble waiting to happen. What is the interest rate on the card you were approved for? 19.99% To echo a previous comment, cut it up! At 20% interest, your monthly payments aren't even likely to bite into the principle. Why would I waste my time with monthly payments? At that rate I would be in debt for sure that's why I said I go for quicker flips and pay off what I buy before the 30 day grace period ends. OK, and what happens when you buy a book on the credit card and then can't find someone to buy at a profit within 30 days? If that were the case I would make sure it's a comic that I'd be able to pay off quickly before the interest rates come into effect. If you could come up with the money to pay off the book in 30 days without selling it, why not just save for 30 days and buy the book with cash. No need for a credit card at all. Link to comment Share on other sites More sharing options...
uchiha101 Posted August 24, 2016 Author Share Posted August 24, 2016 Updates I've been approved and signed up for the visa with a limit of 2k My laptop got fried but I managed to get the files out of it so if you think I'm ignoring you guys I'm not. BB28 The comic has been shipped so all I'm waiting for is that my friend is happy with the comic. If you've applied for this, purely to get deals on comics (how stupid of me .. of course that's why) .. what happens when you go over the credit limit? If you go crazy .. expect a knock on the door from people who will want to claim that money back. Your prized, high-item books .. $5 each .. that's probably what value they'll put on each one to get their money back .. a comic book is a comic book to anyone who doesn't know the different values, right? Your stock AND personal comics will be WIPED OUT! Let's face it, you've made less money on comics than you've laid-out. You have a minimal wage job to support your lifestyle .. adding a card to the mix is potentially (no real potentially about it) dangerous and irresponsible if you have issues with money and not budgeting etc .. this is not a good move for you. Agree times infinity. This is trouble waiting to happen. What is the interest rate on the card you were approved for? 19.99% To echo a previous comment, cut it up! At 20% interest, your monthly payments aren't even likely to bite into the principle. Why would I waste my time with monthly payments? At that rate I would be in debt for sure that's why I said I go for quicker flips and pay off what I buy before the 30 day grace period ends. OK, and what happens when you buy a book on the credit card and then can't find someone to buy at a profit within 30 days? If that were the case I would make sure it's a comic that I'd be able to pay off quickly before the interest rates come into effect. If you could come up with the money to pay off the book in 30 days without selling it, why not just save for 30 days and buy the book with cash. No need for a credit card at all. Honestly depends what that comic is and I'm trying to build up credit as well since I'm being hounded for it. Link to comment Share on other sites More sharing options...
uchiha101 Posted August 24, 2016 Author Share Posted August 24, 2016 How did the purchase price of the book go from $1200 to $1950? when his friend decided to "buy out" uchiha's 42% stake in the book (based on the 500/700 purchase price split) for $1250 (paying uchiha's $500 stake, plus giving him an extra $750??!) his friend ended up investing $1950 to own a book worth $1900 (or so), but owned it outright, as opposed to investing just $700 to own 58% of a book immediately worth more than they bought it for. I need to find friends like that. Yes that's how the deal worked out for future reference, you should work on your skills to describe this kind of deal. If you want people to take you seriously, you need to be succinct and clear. the fact that so many experienced comic people could not understand what is going on should cause you concern. Should have been this: Original deal: My buddy and I went in together on a $1200 book, with him putting in $700 and me putting in $500. Its worth around $1900-$2000 and we expect it to go up even more. We will sell it and split the profits. New Deal: Buddy changed his mind, decided he wanted to own the book outright, so he put up the $1200 for the book AND paid me a $750 finders fee. Which is way better for me, didn't have to front any money and I made $750! I apologize I must have tried to explain it about 7 or 8 times and still no one understood me but a few people came very close. You made it look great. Link to comment Share on other sites More sharing options...
uchiha101 Posted August 24, 2016 Author Share Posted August 24, 2016 Best post of this whole damn thread. There may be hope Thanks I'm a huge WIP and I'm learning. Link to comment Share on other sites More sharing options...
joeypost Posted August 24, 2016 Share Posted August 24, 2016 Gabe, Do you still live at home? Yes Without getting too personal, do your parent get involved with what you are attempting to do here for money? Link to comment Share on other sites More sharing options...
uchiha101 Posted August 24, 2016 Author Share Posted August 24, 2016 (edited) Gabe, Do you still live at home? Yes Without getting too personal, do your parent get involved with what you are attempting to do here for money? I don't understand are you asking me if their taking my money for some of the deals I work on? Edited August 24, 2016 by uchiha101 Link to comment Share on other sites More sharing options...
joeypost Posted August 24, 2016 Share Posted August 24, 2016 Gabe, Do you still live at home? Yes Without getting too personal, do your parent get involved with what you are attempting to do here for money? I don't understand are you asking me if their taking my money for some of the deals I work on? No. Are they aware of the risks you are taking, and how you will most likely get yourself into deep debt with little to no way out based on your current work load. Link to comment Share on other sites More sharing options...
uchiha101 Posted August 24, 2016 Author Share Posted August 24, 2016 (edited) Gabe, Do you still live at home? Yes Without getting too personal, do your parent get involved with what you are attempting to do here for money? I don't understand are you asking me if their taking my money for some of the deals I work on? No. Are they aware of the risks you are taking, and how you will most likely get yourself into deep debt with little to no way out based on your current work load. Yeah they do and they don't care since I'm over 18 and as long as they get paid. Edited August 24, 2016 by uchiha101 Link to comment Share on other sites More sharing options...
Red84 Posted August 24, 2016 Share Posted August 24, 2016 Updates I've been approved and signed up for the visa with a limit of 2k My laptop got fried but I managed to get the files out of it so if you think I'm ignoring you guys I'm not. BB28 The comic has been shipped so all I'm waiting for is that my friend is happy with the comic. If you've applied for this, purely to get deals on comics (how stupid of me .. of course that's why) .. what happens when you go over the credit limit? If you go crazy .. expect a knock on the door from people who will want to claim that money back. Your prized, high-item books .. $5 each .. that's probably what value they'll put on each one to get their money back .. a comic book is a comic book to anyone who doesn't know the different values, right? Your stock AND personal comics will be WIPED OUT! Let's face it, you've made less money on comics than you've laid-out. You have a minimal wage job to support your lifestyle .. adding a card to the mix is potentially (no real potentially about it) dangerous and irresponsible if you have issues with money and not budgeting etc .. this is not a good move for you. Agree times infinity. This is trouble waiting to happen. What is the interest rate on the card you were approved for? 19.99% To echo a previous comment, cut it up! At 20% interest, your monthly payments aren't even likely to bite into the principle. Why would I waste my time with monthly payments? At that rate I would be in debt for sure that's why I said I go for quicker flips and pay off what I buy before the 30 day grace period ends. OK, and what happens when you buy a book on the credit card and then can't find someone to buy at a profit within 30 days? If that were the case I would make sure it's a comic that I'd be able to pay off quickly before the interest rates come into effect. If you could come up with the money to pay off the book in 30 days without selling it, why not just save for 30 days and buy the book with cash. No need for a credit card at all. Honestly depends what that comic is and I'm trying to build up credit as well since I'm being hounded for it. It is the credit card company's job to sell you a credit card. So because they are bothering you to get one, you got one? If I email you a bunch of times to buy something from me does that mean you will do it? Cut up the card and close the account NOW!!! You are acting like the card is a business card for comics. You don't have a comic business. You should not be buying anything on credit that you don't already have the funds for! Stick with cash and you will avoid problems. You and a credit card at this time in your life are a recipe for disaster! Work hard and save your money! Link to comment Share on other sites More sharing options...
joeypost Posted August 24, 2016 Share Posted August 24, 2016 Gabe, Do you still live at home? Yes Without getting too personal, do your parent get involved with what you are attempting to do here for money? I don't understand are you asking me if their taking my money for some of the deals I work on? No. Are they aware of the risks you are taking, and how you will most likely get yourself into deep debt with little to no way out based on your current work load. Yeah they do and they don't care since I'm over 18 and as long as they get paid. They don't care what happens, as long as they first get their slice of the pie? Is this really what you meant to post? Link to comment Share on other sites More sharing options...
chrisco37 Posted August 24, 2016 Share Posted August 24, 2016 I'm stunned that the JLA thing worked out that way. Kudos! What book(s) are you going to get with the $700? Link to comment Share on other sites More sharing options...
revat Posted August 24, 2016 Share Posted August 24, 2016 I'm stunned that the JLA thing worked out that way. Kudos! What book(s) are you going to get with the $700? Accounting classes Chinese Lessons Link to comment Share on other sites More sharing options...
BoomCity Posted August 24, 2016 Share Posted August 24, 2016 I was going to sit this thread out but I figure I'd chime in because I bought the book from Gabe. Lots of people criticizing why someone would spend $1950 and give Gabe $700/750 to find the book. Couple reasons and please don't take this in a negative tone: 1) He found the book. Why would he screw himself out of profit in the near future? This isn't a low tier key issue only a niche are after. It's a mega key that tons in the market would love to add. 2) If I didn't take the book, than I miss out on a book in my collection because Gabe would look for another partner and as I said I wanted the book for my personal collection. 3)Those of you who say the bb28 is only worth $1,950 are looking at it through a narrow lense. -a) 3.0s sell for around $3K, 2.0s sell for around $2K, heck even 1.5s have an average of $1900! So you're saying a 2.5 is worth the same as a 2.0 or a 1.5? I disagree. Look at how it presents and look at the page quality. Two big factors with an early DC mega key. - In my opinion this book is worth $2500 (or even up to 2800 if I wanted to be aggressive). The low sale a lot of you are looking at is the last one on heritage that had two hole punches through the book. If you believe that it holds the same market value as the one copy I picked up... then that's fine but I disagree strongly and I'm sure the market would reflect that if I were to auction this off or try and sell it. No low grade book in the same grade are exactly the same which is why you see fluctuations. The average helps but there are always high and low sales. And again, BB28 is close to $1k/point... therefore this one is at or around $2,500. So at the end of the day, I picked up a book $600-700 under market value. I doubt theres many sellers that will sell a CGC 2.5 for 1950 (especially a nice presenting one), if they do I would jump on it. Gabe got the profit he was hoping to get when he sells it in the future. I spend a lot of my time looking at BB28... a lot. I've spoken to many sellers, I've seen what sellers here ask, I've seen what ebay, facebook, etc ask for the book. $1950 for this book was a win win situation for Gabe and I. GPA is a guide, it is not law. Also as a collector I would pay the same if not MORE for a nice looking 2.5 than an ugly 3.0... which do exist. On any given day, I'm sure I could press this and resubmit and this could hit a 3.0 after inspecting it. I'm sure there are those who don't share that same belief but that does not mean I wouldn't be able to find a buyer in that 2500-2800 range. Hope that clears things up. Link to comment Share on other sites More sharing options...
BoomCity Posted August 24, 2016 Share Posted August 24, 2016 Also want to add Gabe was very accommodating. I was specific on how this would go down and he followed through. Link to comment Share on other sites More sharing options...
Ryan. Posted August 24, 2016 Share Posted August 24, 2016 You would have been willing to let that deal go if the case was cracked? Link to comment Share on other sites More sharing options...
BoomCity Posted August 24, 2016 Share Posted August 24, 2016 (edited) No Gabe mispoke about the case getting or being cracked. I never mentioned anything about that. Only rusty staples. I messaged him on fb after saying I didn't say that. He agreed. He may have mixed me up with someone else. Edited August 24, 2016 by Flashattack Link to comment Share on other sites More sharing options...
revat Posted August 24, 2016 Share Posted August 24, 2016 (edited) No Gabe mispoke about the case getting or being cracked. I never mentioned anything about that. Only rusty staples. I messaged him on fb after saying I didn't say that. He agreed. He may have mixed me up with someone else. you can see how people might confused given the explanations provided. As for pricing, we perceived that Gabe was buying it as investment, hoping to sell for profit. In that case, one would generally be very conservative with the expected value, especially factoring in that Gabe is Canada, meaning more fees, customs, translations, and higher shipping, insurance, plus listing fees on ebay or auction houses. So while I agree that both of you ended up with good deals and acted in ways that made fiscal sense, I think you were also being at least a little bit generous, and I hope that Gabe doesn't think that these types of deals will commonly turn out so favorable for him (or anyone), or that everyone is so generous. Edited August 24, 2016 by Revat Link to comment Share on other sites More sharing options...
