Holy Freakin' Cow - Asking prices on feeBay 9 9

[Bookery]

On 5/15/2022 at 2:08 PM, Axe Elf said:

I take it you don't realize how irrelevant this is to the point I was making?

The outlook wasn't brilliant for the board's readers that day,

Axe Elf had been a-postin', and he'd really had his say--

The problem was that many still were left scratchin' their head,

As just to what exactly was the gist of what was said.

 

It didn't seem to fit with all the theories of the day,

Them economic concepts didn't seem to be in play;

The math was all a-murky and as flittish as as a colt,

"I'm missin' something?" said the crowd -- "and feelin' like a dolt".

 

But Bookery, mighty Bookery, wasn't one to be a-feared--

He looked them posts right in the eye and gently rubbed his beard;

I think I've got it figured, as he re-read every line,

I see at what he's thinkin', and I need to now opine.

 

The boards were hushed and anxious as he stated out his case,

It was the greatest challenge here that Bookery ever faced;

He squinted as he typed, being corrective, but polite--

"This Axe Elf seems mistaken', and I'd like to set him right."

 

He positioned and he posited and analyzed and stated,

If he could solve the Elf's ciphers, the crowd would be elated;

He posted but the Elf came back, "you've missed what it's about"--

For Bookery, mighty Bookery, gave his best but had struck out.

 

[JC25427N]

Facts and logic don't care about your inability to comprehend them, watch more Rick and Morty fellas 

 

 

[Axe Elf]

It's not really that complicated, people...

If you buy something for $100 and pay $20 for the privilege of buying it for $100, you need to sell it for $120 or the item has lost value--you've lost money on it.

It doesn't matter that "that's not what people do," or "that's not how the market works."  If it costs you $100 + $20 to acquire something, and you sell it for $100, you've lost money.  Period.  The only way for the item to maintain its relative value is for you to sell it for $120.

Then the new owner has paid $120 + $20 for the item, so he has to sell it for $140, or lose value in the transaction.

And so on...

[Bookery]

On 5/16/2022 at 1:21 PM, Axe Elf said:

It's not really that complicated, people...

If you buy something for $100 and pay $20 for the privilege of buying it for $100, you need to sell it for $120 or the item has lost value--you've lost money on it.

Why would I be paying $20 for the privilege of buying something for $100?  The eBay fees are to the seller... not the buyer.  And we have no idea how much the seller paid for the item originally.  I already addressed selling costs in a previous post... All sales come with a transaction cost.  And if you mean shipping costs... I factor what I pay for shipping before I bid on an item, so if I'm willing to pay $100 for an item, and shipping is $10... I bid $90.  Simple.

[Axe Elf]

On 5/16/2022 at 12:48 PM, Bookery said:

Why would I be paying $20 for the privilege of buying something for $100?  The eBay fees are to the seller... not the buyer.  And we have no idea how much the seller paid for the item originally.  I already addressed selling costs in a previous post... All sales come with a transaction cost.  And if you mean shipping costs... I factor what I pay for shipping before I bid on an item, so if I'm willing to pay $100 for an item, and shipping is $10... I bid $90.  Simple.

Again, all completely irrelevant to the point I made.  (But I liked the poem!)

[Bookery]

On 5/16/2022 at 1:21 PM, Axe Elf said:

If you buy something for $100 and pay $20 for the privilege of buying it for $100... 

I can't think of a scenario where anyone would ever do this... 

[Bookery]

On 5/16/2022 at 1:21 PM, Axe Elf said:

It doesn't matter that "that's not what people do," or "that's not how the market works." 

It kinda does.

[Axe Elf]

On 5/16/2022 at 1:37 PM, Bookery said:

I can't think of a scenario where anyone would ever do this... 

Really?  You can't think of any additional costs that might be incurred pursuant to brokering an item?  Shipping?  Tax?  Buyer's premiums?  Club memberships?

On 5/16/2022 at 1:38 PM, Bookery said:

It kinda does.

Well, it matters to other things, sure, but it does not matter to the simple mathematical relationship that if you pay $100 + $20 for an item, and you sell it for $100, you've lost money on that item.

[darkstar]

On 5/16/2022 at 12:21 PM, Axe Elf said:

It's not really that complicated, people...

If you buy something for $100 and pay $20 for the privilege of buying it for $100, you need to sell it for $120 or the item has lost value--you've lost money on it.

It doesn't matter that "that's not what people do," or "that's not how the market works."  If it costs you $100 + $20 to acquire something, and you sell it for $100, you've lost money.  Period.  The only way for the item to maintain its relative value is for you to sell it for $120.

Then the new owner has paid $120 + $20 for the item, so he has to sell it for $140, or lose value in the transaction.

And so on...

You wrote that people trying to make their money back on something they've purchased is the reason prices are skyrocketing. It's not that anyone here is having trouble comprehending what you've reposted several times now, it's just that the degree to which it is incorrect, in terms of having a significant effect on secondary market prices, let alone being the driving force behind them, is difficult to comprehend.   

[Beastfeast]

On 5/16/2022 at 1:21 PM, Axe Elf said:

It's not really that complicated, people...

If you buy something for $100 and pay $20 for the privilege of buying it for $100, you need to sell it for $120 or the item has lost value--you've lost money on it.

It doesn't matter that "that's not what people do," or "that's not how the market works."  If it costs you $100 + $20 to acquire something, and you sell it for $100, you've lost money.  Period.  The only way for the item to maintain its relative value is for you to sell it for $120.

Then the new owner has paid $120 + $20 for the item, so he has to sell it for $140, or lose value in the transaction.

And so on...

...that's not what people do and that's not how the market works.  

 

 

[Axe Elf]

Maybe a little review would be beneficial at this point.

We were talking about flippers--people who buy a comic for no other reason than to immediately turn around and sell it at a profit.  Then I said...

On 5/13/2022 at 6:19 PM, Axe Elf said:

So it's not so much that books are becoming more valuable, it's just that every time one is sold, it has to be sold for 20% more than the last time it was sold, just to pay for the cost of selling it (for the book to retain the same relative value, anyway).  The whole thing just kind of builds on itself--and then y'all wonder why prices are skyrocketing.  And all those increasing margins are flowing into the auction houses' and da'Bay's wallets.

I wasn't trying to develop an economic theory of inflation--the "y'all wonder why prices are skyrocketing" was more of an aside than a central thesis.  I was just explaining that for an item to maintain the same value it had when you bought it, you have to sell it for the price you bought it + the cost to buy it (if any) + the cost to sell it (if any).  It doesn't matter that non-flippers may not always do this, and it doesn't matter if that's not the driving factor behind inflation or the free market system in general--all I was saying is that to make a profit, you have to not only recoup the raw cost of the item, but also any other costs you incurred by buying/selling the item.  That's ALL.  It's a simple, self-apparent observation, and it is always true.

[Axe Elf]

On 5/16/2022 at 2:18 PM, Beastfeast said:

...that's not what people do and that's not how the market works.  

 

 

Irrelevant.

[chrisco37]

So there are a couple of strategies to sell comics better than the chump not reading these tactical emails: At different price points, different grades, and different buying reasons. The fundamental principle stays the same though. Buy them as low as you can, and sell them as high as you can.  But seriously you don’t gain anything by buying a comic (at any price point) and selling it for lower than what you got. That’s horrible!  Sometimes you get lucky and get a rare, valuable find or a crazy good price. Sometimes you get a bunch of worthless stuff, but usually you’ll get stuff you can flip for a decent profit.  As long as you get them all for a price with enough margin, you should be fine.

So what’s a fair rate to pay? It’s exactly what it sounds like you dingus.

 

[bc]

On 5/16/2022 at 3:38 PM, chrisco37 said:

So there are a couple of strategies to sell comics better than the chump not reading these tactical emails: At different price points, different grades, and different buying reasons. The fundamental principle stays the same though. Buy them as low as you can, and sell them as high as you can.  But seriously you don’t gain anything by buying a comic (at any price point) and selling it for lower than what you got. That’s horrible!  Sometimes you get lucky and get a rare, valuable find or a crazy good price. Sometimes you get a bunch of worthless stuff, but usually you’ll get stuff you can flip for a decent profit.  As long as you get them all for a price with enough margin, you should be fine.

So what’s a fair rate to pay? It’s exactly what it sounds like you dingus.

 

-bc

[JC25427N]

On 5/16/2022 at 3:38 PM, chrisco37 said:

So there are a couple of strategies to sell comics better than the chump not reading these tactical emails: At different price points, different grades, and different buying reasons. The fundamental principle stays the same though. Buy them as low as you can, and sell them as high as you can.  But seriously you don’t gain anything by buying a comic (at any price point) and selling it for lower than what you got. That’s horrible!  Sometimes you get lucky and get a rare, valuable find or a crazy good price. Sometimes you get a bunch of worthless stuff, but usually you’ll get stuff you can flip for a decent profit.  As long as you get them all for a price with enough margin, you should be fine.

So what’s a fair rate to pay? It’s exactly what it sounds like you dingus.

 

First actually intelligent thing said in this thread

 

$997 well spent

[PDGray]

I have read a fair amount of this thread off and on over a few months, so please forgive me if I missed it or don't remember.  But the key element I don't recall being discussed is, "What is ANY given book worth to you?"

Maybe it has an Overstreet price of $100, but is worth $120 to me - so I buy it!!  Or maybe it is worth $80 to me - so I don't buy it.

The IRS rules, as I understand them from my tax class are that assets, such as comic books, are such that are sold are subject to a 25% tax rate on the gains.  The only time this is "reset" is when the book is passed on through an inheritance.  So, the book has to increase by at least 25% just to offset the IRS taxes on the sale before the seller can make anything anyway.

 

PDG

[Bookery]

On 5/16/2022 at 5:55 PM, PDGray said:

I have read a fair amount of this thread off and on over a few months, so please forgive me if I missed it or don't remember.  But the key element I don't recall being discussed is, "What is ANY given book worth to you?"

Maybe it has an Overstreet price of $100, but is worth $120 to me - so I buy it!!  Or maybe it is worth $80 to me - so I don't buy it.

The IRS rules, as I understand them from my tax class are that assets, such as comic books, are such that are sold are subject to a 25% tax rate on the gains.  The only time this is "reset" is when the book is passed on through an inheritance.  So, the book has to increase by at least 25% just to offset the IRS taxes on the sale before the seller can make anything anyway.

 

PDG

That's true, but only if you don't keep track of what you paid for it, such that the entire sale is treated as a gain.  If you buy it for $100, and sell it for $120, you only owe on the gain, or with your percentage above, $5 (or 5% of the initial purchase price).  

[MetalPSI]

Heres a poser

I bought a ASM 299 for 100 bucks off the shelf

I paid to have it graded, which includes shipping cost to CGC and back to me

I could easily sell the book for 800 bucks, right now

I've decided I am going to hold instead of selling, because I feel this book still has legs and will increase in price

Now for the crux, will I make my money back with this logic?

[Jesse-Lee]

On 5/16/2022 at 8:05 PM, The Meta said:

Heres a poser

I bought a ASM 299 for 100 bucks off the shelf

I paid to have it graded, which includes shipping cost to CGC and back to me

I could easily sell the book for 800 bucks, right now

I've decided I am going to hold instead of selling, because I feel this book still has legs and will increase in price

Now for the crux, will I make my money back with this logic?

If you sell now, obviously. If you wait until later - maybe, maybe not. It could continue to rise, or the bottom could drop out of the market and it could be worthless. It's just like any other market, you're either bearish or bullish on the future value of an asset. If you bought it to sell, there's no shame in taking profits at $800. Sure, it could go higher in the future, at which time you might kick yourself for selling low; or it could go to zero, at which time you'd likely kick yourself for not selling when you had the chance. Most of it is based on your outlook, the health of the market, and your tolerance for risk.

[BlowUpTheMoon]

On 5/16/2022 at 3:38 PM, chrisco37 said:

So there are a couple of strategies to sell comics better than the chump not reading these tactical emails.

 

So what’s a fair rate to pay? It’s exactly what it sounds like you dingus.