High Prices and Collecting Changes

[maxf]

Interesting replies from everybody so far - I think I should have mentioned that I am mainly referring to the high end items (well, items with massive price tags) and my surprise at how often the same items seems to trade.

I certainly try not to overpay and also try to ensure that my collection is worth the same, or more, than what I paid for it - I certainly wouldn't want my Mrs to have to sell it one day and only get a small proportion of what I paid. I also occasionally let things go, and also will occasionally buy something I only 90% like as I know it could be trade bait later on. What I don't (so far) do, and what surprises me, is buy an amazing item at £xxxx and limelight it as an amazing grail I am thrilled to own - then sell it 5 weeks later for the next 'amazing grail'. That's what I was getting at and that is part of what I think encourages some of the super high prices we are seeing.

Gary and Andy raise some interesting points about the valuations some people give too - it's very easy to give a very high valuation, especially if you're not in the market for that item, but unless there is some relevant RECENT evidence (ie vectis less 25% sellers fees, or ebay less 10% as Andy says), it's just an opinion - and sometimes not a very informed one at that. This gives sellers (or owners) an unproven benchmark for the worth of their item, which then becomes the asking price and 'fact'. Somewhat frustrating when sometimes valuations come from people who would have no intention of being a buyer at that price (Again - levelled at nobody or no forum/FB page in particular)!

 

[Ian_C]

In most cases, I agree with you Matt, but in my recent sales, I have actually pretty much used this EXACT line. But it's true, I really DIDN'T want to sell. It broke my heart each time.

Now im feeling bad! It's one of those sales pitches that has been so over-used by slimy sellers that on the rare occasion when it is said with honesty... sorry Ian I know you are a heartfelt guy and I know you know my intention was not to tar any of the 'good guys' with that brush.

Also it is a kick in the teeth that your choice pieces were flipped so fast. That really goes to the heart of what the OP was saying. This hobby cant be about that - Buy a piece, AFA it, limelight it for likes / marketing, then sell it for a profit - all within a few weeks?!*

*Also a bit jealous as I would love to have given your DT Vader a permanent home!!

Hey Matt,

In no way was I trying to make you feel bad. I agree with you - many people do use the line as a cop out. I just wanted to point out that the bad apples paint us all with the same brush, as it makes people wary of anyone selling. I'm sure some of the FB guys who saw my sales were thinking the same thing when they saw my listings.

BTW, I would have MUCH preferred to have had my Vader go to a home where it would not only be cherished as much by the new owner, but someone I know and recognize as a good guy in the hobby. It's my biggest consolation when my fave pieces go that they go somewhere where the love will be the same. If there wasn't a need to raise cash, I'd be more picky with buyers - but then again, if I didn't have an urgent need, they wouldn't be for sale. Oh well.

I think you both make a good point. You are right Matt that sellers sometimes use it to justify overpricing an item but at the same time genuine sellers use it to prevent buyers low balling them. Sometimes buyers sense a sellers desperation for immediate cash and will take advantage of the situation.

On a number of occassions when I've had to shift something quickly to raise funds for something else, I've had well below par offers from buyers saying something along the lines of "Hey I know its a lot less than the asking price but if you need cash quickly I can pay you X straight away". The alternative might be selling something on a payment plan which sometimes doesn't help your immediate need. Stating that you are in no rush to sell or that you really don't want to sell a piece is a good way of telling lowballers to **** off and not try it on

At the end of the day some buyers try it on just as much as some sellers.

That's another good point. Trust me, I had some crazy offers on my Vader and Yak alone. I used to just say "no lowballers", but was advised that came across as rigid and unfriendly, so I removed it. Sold my car recently on kijiji, and that was even worse. It was a junker not worth much, but it was tiring seeing the multiple "I can have $150 cash in your hand TODAY" replies. Um, no, I'll wait a little longer and not get lowballed by the likes of you, thank you.

That is really sad Ian, the practice does seem to be getting more prevalent and as others have said I do think Facebook and limelights have a part to play. People buy these big ticket items, have 5 mins of glory and then sell as they only really wanted the kudos not the item.

Thankfully there are also a lot of good guys out there too, and a lot of them are on here.

I don't want to run down Facebook, as items do sell faster there than anywhere I've tried before (usually), plus we've had the speculators before on forums. I think now, it's just people taking advantage of the "blink and you miss it" mindset prevalent on social media. It's another reason why I list higher - the flippers tend to just skip my sales, leaving me to negotiate with the legit buyers.

I know there's good guys here. If I could have gone back in time, I'd have spent less time on RS and more here, as generally the people here are far more authentic. I haven't listed my stuff here though, mostly because of shipping prices. I have approached a few people here that have posted WTB ads, but otherwise not listed much. I sold my 12 back Stormtrooper here a few months ago, and because of the crazy prices, I sent it untracked and uninsured. Sure enough - it got lost. I refunded the buyer, as that's the honorable thing, but it stung for me. Now, it's just not economically feasible to send tracked.

Ian

 

[Ian_C]

Gary and Andy raise some interesting points about the valuations some people give too - it's very easy to give a very high valuation, especially if you're not in the market for that item, but unless there is some relevant RECENT evidence (ie vectis less 25% sellers fees, or ebay less 10% as Andy says), it's just an opinion - and sometimes not a very informed one at that. This gives sellers (or owners) an unproven benchmark for the worth of their item, which then becomes the asking price and 'fact'. Somewhat frustrating when sometimes valuations come from people who would have no intention of being a buyer at that price (Again - levelled at nobody or no forum/FB page in particular)!

Sometimes on Facebook there is a tendency to do the exact opposite too.

When Bill McBride was listing his trashed carded DT Ben, there were plenty of people jumping in with uninformed comments on how it wasn't worth thousands at all. A year ago I had someone message me, trying to argue a 12 back Luke was worth $300 tops in mint condition (and this guy is active on FB too :roll: ). You see it lots in the "valuations" posts, especially in Jason's main collecting group, where loads of modern collectors with no clue on vintage prices will seriously undervalue items. The whole situation is just as unhelpful as overvaluing.

Ian

 

[jedisearcher]

I think most people on here would say they buy things for no more then they think they can sell for, if they had to, I certainly do. But unfortunately not everyone in the collecting community is as reasonable as most of the people on here, and also when you know prices are on an upward curve then you could overpay today knowing that in say 12 months time you won't have overpaid at all, in fact, it might look like a bit of a bargain.

I think it also depends on exactly where you are in terms of what you collect. I imagine if you're finishing a 12 back run its quite hard now to overpay at the start, because you're excited about getting things started, and at the end, when you just want to get the job finished. It's just human nature.

On valuations I always have a chuckle when people ask for them and then there's no FS thread, or you don't see them anywhere else for sale either. Yes, some people are probably only asking for personal reasons, just so they have an idea of what their items might be worth in the current market, or possibly shock/horror :lol: members of the forum shark in and make them offers behind closed doors, no matter how high or low the valuation.

PM sent :roll:

 

[Palifan]

I must admit that I've never thought about getting my money back on anything I've bought other than perhaps when I bought a lot to get some pieces out of it I wanted with the thought that at some point I would sell on the rest (not that I have and that was about 4 years ago :lol: ). I've bought items just because I want them for my collection and am happy enough with the price. Sometimes it's just about how desirable the item is and having it in your collection for the foreseeable future rather than seeing it as some sort of investment. Unless you're a dealer or just trying to fund something else (which kind of makes you a practising dealer in my eyes), I see little point in buying something you don't really want.

Ian