That time you KNEW you overpaid...

[justin]

I have overpaid by 400% on OA and haven't regretted it yet. I LOVE the piece I bought and would never part with it. If you love it, you'll never regret the price you paid.

[*paull*]

Re frames, you'd probably want him to pull the art out of the frame to make sure the art is in good shape.

 

Good point... just like comics sitting in LCS for years with seriously faded covers due to fluorescent lighting or sun.

[Overthetopinc]

I say go for it! $300 isn't that much to overpay for an original you have been looking for an example from for years. Plus I like the fact you wondered in a store on vacation and found it. That should be good for some fond memories of it.

[Mephisto]

...Every time.

[Mighty Hal]

Some solid advice here; a sincere thanks to all.

 

I was about to pull the trigger (thinking I'd regret not getting the piece more than I'd regret the monetary loss) when the "pull-it-from-the-frame" suggestion came up. That just seems like common sense, but I didn't have the sense to see it. I only wish I'd done it before I'd returned home.

[Terry Doyle]

I think most collectors have (knowingly) overpaid from time to time. If it's a 'must have' item, with deep personal meaning, then it's often worthwhile going the extra mile.

 

If hundreds of dollars extra are involved, I imagine most of us can live with that. Add another zero onto that and it becomes a different proposition . . .

[JadeGiant]

At $300 I don’t think I would consider overpaying as much of a factor as I would the possibility of missing out on a piece of art that I would regret for a long time. If this was on the coolines web site you would likely be looking at $4-5K which is where I think cost would be the highest factor.

 

Ask yourself this – if I called the store tomorrow and they said it had sold, how would I feel? If you are inclined to say oh well and move on then maybe you should let it pass (or make a hard cash offer at your comfort level like Bird said). But, if you would get that pit in your stomach that says why in the heck didn’t I buy that … then it is time to figure out a way to make it happen (sell something, cut back on other expenses for a while, etc.).

 

Another way to think about it – what would I really do with that $300? It sounds like you would buy if he took $700 for it so what would you do with the $300 you would have saved if you were able to pull the trigger at $700? If you don’t have a clear plan for that money then I think that might answer your question.

 

Good luck with the dilemma … I must admit I am curious to see what the artwork is.

 

[batman_fan]

The most I have ever paid on a piece is 2.5x over what a comparable work by the same artist sold for in a public venue. My only regret is that I haven't gotten the piece framed yet.

[Mephisto]

I just paid 12X more for my New Larkin piece compared to my other one. The new one is a better character and better image but pretty similar. Piece was't for sale but the nutty offer got it in my hands with now objection from the previous owner.

[Brian Peck]

I have overpaid for many pieces in someone else's opinion but to me they have all been worth it. A strong nostalgia will always override "market value", its all in the eyes of the buyer. I see way too much art I think is far over valued which I would never pay the "market value" for either it has no nostalgia for me or an artist who I do not care for their artwork.

[Nexus]

If, instead of asking for $1000, the seller had asked for $1300...would you feel better about paying $1000?

[AKA Rick]

The only context I use for the term of "overpaying" is when I have/had the actual opportunity to purchase something at one time and then shortly thereafter whomever purchased it, then re-solicits it at a higher price (i.e. "the art of flipping") which I know in could have purchased lower but am now forced with the decision of paying more to the person in possession of the actual piece.

 

And I'm less hateful of those situations and more kicking myself in the pants of not being that person who beat me to the punch and secured the art before me.

 

If a piece was available years ago and the new price tag is higher, I don't consider that over paying. I once fell in love with a piece Mitch @ Graphic Collectibles was selling at a great price, but was a rookie in the hobby, so didn't pull the trigger, then years later bought that piece from another seller at a much higher price, but to me was still reasonable, and purchased it knowing I could have paid less years ago, but it was a "you snooze, you loose" situation and I was asleep at the wheel back then, so didn't mind paying a slightly higher premium years later.

 

Otherwise, as I'd mentioned, I have the internal thought process in my decision making of "what it's worth to me" and therefore I never really think I'm "overpaying" otherwise I'd simply abstain, since that's me telling myself the artwork isn't worth the price tag.

[Kevin76]

Sometimes you have to over pay to get what you want, but it amazes me that people will walk away from a deal because they don't want to shell out an extra $50-$100 to get what they want.

 

I sold a Venom Vs Spidey Mcfarlane page over 10 years ago and I was asking 5K and didn't really want to let it go. The buyer said "$5000??!!! No way that is cover money!!!" I was ready to back out of the deal but he offered $4500 instead as a final offer, So if he was willing to pay $4500, What was another $500 to just give me what I wanted in the first place??

 

The point is, shelling out a few hundred more or some people put it "over paying" really has no effect in the long run, That page probably sells for 25-30K now. Doesn't seem like he "over paid" now did he?

[Bronty]

Disagree. As a buyer you have to have a line in the sand you won't cross. You don't have the benefit of hindsight when making the buy

[vodou]

You don't have the benefit of hindsight when making the buy

AKA the foreknowledge that a bull market corrects (almost) all 'mistakes'.

 

Broken record here but things could have gone the other direction (ala sportscards) and that $5000 piece could be 'worth' (the day you need the money NOW that is) half; making the overpayment twice as costly

 

If it's a real irreplaceable keeper though (and only you know this for sure), a few hundred (but let's keep it scalable at 30% over) now isn't the end of the world...if you'd regret it every day after (as others have mentioned).

[Meeley Man]

So if he was willing to pay $4500, What was another $500 to just give me what I wanted in the first place??

 

Perhaps it was $500 more than they had available to spend. Sometimes, when you see an amount that is close to the asking price, it isn't because the person is holding out on the seller. It might just be the limit they have to spend. It's likely why they said the price was too high, because $500 might as well be $50,000 more, when you don't have it.

[Bronty]

They way I look at it is maybe what they wanted to pay was 3500, felt 4k was high, felt 4500 was way too much but they'd do it, and thought 5k was out of the question. Ie sometimes when you are a little under the sellers ask you are already a lot over your comfort level.

 

There are so many reasons why "just 500" or "just 30%" or whatever may be more significant to the buyer than to the seller. Maybe you're on a budget, maybe you feel it's overpriced, maybe you like something else better for the same money... the reasons are literally endless so at some price point the "it's just X amount of money" argument falls flat

[James J]

Last month,last week and next week.....that's right I can even tell how I will feel next week when I close the next purchase..

 

Edit : recent sales were used as examples...I have more....

[mister_not_so_nice]

They way I look at it is maybe what they wanted to pay was 3500, felt 4k was high, felt 4500 was way too much but they'd do it, and thought 5k was out of the question. Ie sometimes when you are a little under the sellers ask you are already a lot over your comfort level.

 

There are so many reasons why "just 500" or "just 30%" or whatever may be more significant to the buyer than to the seller. Maybe you're on a budget, maybe you feel it's overpriced, maybe you like something else better for the same money... the reasons are literally endless so at some price point the "it's just X amount of money" argument falls flat

 

(thumbs u

At some point the price asked (or willing to pay) is just too much. Everyone that has lost an auction on eBay knows this. "Just a few bucks more" has it's limits.

 

And it doesn't matter if the piece is now worth 10X more than the day it was purchased. The buyer didn't know that at the time. And I'm guessing the seller didn't either. That's just part of the equation we all consider to some degree when making a purchase.

[delekkerste]

They way I look at it is maybe what they wanted to pay was 3500, felt 4k was high, felt 4500 was way too much but they'd do it, and thought 5k was out of the question. Ie sometimes when you are a little under the sellers ask you are already a lot over your comfort level.

 

There are so many reasons why "just 500" or "just 30%" or whatever may be more significant to the buyer than to the seller. Maybe you're on a budget, maybe you feel it's overpriced, maybe you like something else better for the same money... the reasons are literally endless so at some price point the "it's just X amount of money" argument falls flat

 

Yeah...that last little bit is why the Judge Dredd #21 cover is in Doc Joe's collection and not mine!