As A Buyer...what's My Value? 2 2

[ComicsGalore]

Hey guys, so not so much about collecting but buying for someone...here is my situation: A guy who has bought quite a bit from me over the year started asking me if I could find books for him since he didn't have the time...I was always buying so didn't bother me...well as I got more books to him more books started being requested. I was doing good, finding great deals and then selling them to him just under fair market. I didn't think about myself getting paid it was just as I was doing before buying and selling. Well in June he gave me THE list. Now all the books I got him amounted to about about 5k prior over 3 months.. Nothing crazy in there....now this list it's everything. I mean an ultimate list of silver age runs already 75% conplete. Upgrades to books he has to a 7.5 or better and filling in ones he doesn't have. He wants all raws....I got the list June 21st. As of today halfway done at 140 books and he just crossed 80k. Yeah, insane! it's amazing I'd never see some of these books this nice of it wasn't for this. But now I'm struggling with finding deals, or even books. Try finding "the highest grade at the best price" he tells me. So I'm out there looking for raw 9.4 X-Men 12s that night...There's not much wiggle room. I've been grabbing a few CGCs cheap at auctions and cracking them, praying after a press and clean they'd still be that grade or fingers crossed better - been lucky there(it's nerve racking. I broke a FF #4 7.5 out last night...shaking). I've spent night and day looking for these books now.i haven't bought a book to sell for my own enjoyment since July 4th. That swamped with his list. I enjoy it but it's hard. So now...my question. Do I separate my profit from the book price?! As in a commission or determine my time spent and how hard that particular book was and then lay it out for him(the book is 1200$ and my time on this is 100$) I don't know what's fair? If I find a book for a super good deal then do I make more on it for my time or do I share the savings? I feel very fortunate he trusted me, a stranger to do this for him and I don't want to loose this opportunity. I know this all came off as a lot of blabbing but anyone who understands it a little some insight would help! For being a rich mofo he is a cool guy, laid back, humble, so I know I could probably bring up this concern with him pretty relaxed too. Just where do I start? I'm just a  Collector turned seller to high grade buyer to...Lost..

Thanks guys!

[shadroch]

You bought an FF 4 on spec that it might press out to a grade where your buyer will want it?  Whats the plan if he doesn't want it?

[O Doyle Rules]

On 8/31/2022 at 4:04 AM, ComicsGalore said:

I've spent night and day looking for these books now.i haven't bought a book to sell for my own enjoyment since July 4th. That swamped with his list. I enjoy it but it's hard. So now...my question. Do I separate my profit from the book price?! As in a commission or determine my time spent and how hard that particular book was and then lay it out for him(the book is 1200$ and my time on this is 100$) I don't know what's fair? If I find a book for a super good deal then do I make more on it for my time or do I share the savings? I feel very fortunate he trusted me, a stranger to do this for him and I don't want to loose this opportunity. I know this all came off as a lot of blabbing but anyone who understands it a little some insight would help! For being a rich mofo he is a cool guy, laid back, humble, so I know I could probably bring up this concern with him pretty relaxed too. Just where do I start? I'm just a  Collector turned seller to high grade buyer to...Lost..

Time is your most valuable asset, because you will run out of it one day and you don't know when that day will come. Your buyer understands this because this rich mofo (your words) is spending your time (not his) to get what he wants at a discount. He values his time way more valuable than what you're charging him to acquire the books. What is your time worth to you? Only you can determine that answer. 

[theCapraAegagrus]

I think that if you tell him how much work you're putting in, and that you need a commission for your time to continue this trek, he would be understanding (I hope). Don't sell yourself short. Just be honest and forthcoming. If he pushes back, you must make the decision to stand your ground on the commission front, or to back out and let him find another personal assistant (). It seems like you have a decent relationship, you clearly value his camaraderie, and that should be worth something to him.

Honesty is always the best policy.

[ComicsGalore]

On 8/31/2022 at 2:22 AM, shadroch said:

You bought an FF 4 on spec that it might press out to a grade where your buyer will want it?  Whats the plan if he doesn't want it?

haha He wants grades 7.5 and up. It was graded a 6.5 with light creasing and no color break(and CGC grading so I wasn't too worried) I liked my odds on that one. I know what books he wants so I'm not too worried there. Only have bought 1 for him he didn't take and thats because he had one it on an auction just the night before. If for some reason he doesn't take a book not too worried about selling it or if its one I need throwing it into my collection. I guess his no sometimes might be my win! ha

[ComicsGalore]

Here is what will be going out for an invoice to him today. That was this weekends haul for him.

[Grendel72]

You should add on variable commission rates based on the difficulty of obtaining the books at the onset. Based on his wishlist, you could waive commission on some "easy" to obtain books. Any savings or good deals should be passed onto him. There is no objective fairness here, just so long 2 able minded persons are willing to agree to terms. Time is money. He gets to keep his Time; you can get his money to lose yours. 

[MattTheDuck]

So has he set up an account with his money that you're using to buy?  Or are you using your own money?  If it's the latter, that is also worth something, especially without any guarantee he'll pony up when the time comes.  I think any of our lawyer friends on here would tell you you'd be wise to get some kind of agreement in writing.

I understand you can develop trust in someone, but if I were in your shoes I'd be pretty careful about not over-extending myself.

[LowGradeBronze]

You both sound like really cool dudes to me. All I can say is that if I were him, I hope I'd realise just what a decent job you were doing for me and I would be approaching you in a spirit of friendship to ask how I can compensate you for your time spent. It can still be a small fee if you're happy doing what you're doing, but the guy should recognise he's got it good here and it should be factored it into his invoices. I wish you were my personal buyer that's for sure! 

[Pat Thomas]

Wish I'd known you when I was still buying. Some books took months or even years for me to find at the grade and price point I needed. Would have gladly paid somebody else a percentage of the cost to find them for me. Maybe 10% or so as a starting point? I'm only liquidating now, though.

[shadroch]

I wouldn't lay out money on spec for someone who is supposed to be rich, and buying premium SA slabs in the hope they press out to an acceptable grade is a unique business model.  Do you have THE PROGRAM?

[ComicsGalore]

On 9/4/2022 at 2:09 PM, LowGradeBronze said:

You both sound like really cool dudes to me. All I can say is that if I were him, I hope I'd realise just what a decent job you were doing for me and I would be approaching you in a spirit of friendship to ask how I can compensate you for your time spent. It can still be a small fee if you're happy doing what you're doing, but the guy should recognise he's got it good here and it should be factored it into his invoices. I wish you were my personal buyer that's for sure! 

haha thanks, And it's never too late...I can still be your buyer! I'll even waive my fee  for the first 5 books! hahaha

[ComicsGalore]

On 9/4/2022 at 9:49 PM, Pat Thomas said:

Wish I'd known you when I was still buying. Some books took months or even years for me to find at the grade and price point I needed. Would have gladly paid somebody else a percentage of the cost to find them for me. Maybe 10% or so as a starting point? I'm only liquidating now, though.

Well liquidating is good...I might be able to use you! I am thinking 10% is a good start with a bit of a swing either way depending on difficulty. Should be finalizing an agreement this week!

[ComicsGalore]

On 9/4/2022 at 10:15 PM, shadroch said:

I wouldn't lay out money on spec for someone who is supposed to be rich, and buying premium SA slabs in the hope they press out to an acceptable grade is a unique business model.  Do you have THE PROGRAM?

I might have THE PROGRAM...but I'd need to know what it is first. haha 

And lets just say I'd rather lay it out for a rich guy than a poor guy. I mean, odds are a little better, I think  But I totally get what you're saying. When I wrote this I hit my limit of what I could do comfortably just in case he didn't take the books.

[LowGradeBronze]

You're definitely working in partnership, so I hope he evens things up with the agreement you come to.