Quote:
Originally Posted by KhalDrogo
If you’re intelligent, how much money you made should not factor in what you do with your current inventory. If you’re looking for ROI, these are the only questions you should be asking.
1. What’s the future potential for this product?
2. Can I generate a better return on my money elsewhere?
3. Does a sale in X years generate a better return than a sale today when factoring in inflation?
4. How much income tax will I owe on a sale this year, or how much tax savings can I generate by taking a loss?
That last question is so important if you’re in the green for the year. For every $1 I lose selling a card now, I’m saving 32-35 cents in tax liability. So I am cutting my losers now and holding onto my winners to sell when the new year starts. If I sell a card for $500 that I paid $1000 for, I save myself $160-$175 in taxes, and I get that $500 in my pocket today to do whatever with.
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I actually agree with you for a change, but what you aren't factoring in is the fact that people who were content making $1M a year (tossing random numbers), and now accustomed to making $20M a year. The writing was on the wall that they can still make $10M, but they are saying 'lets wait another month or two' before we can concede to that. Then that month of two later they are looking at $5M and the process repeats.
I'm sure you have your eye at some level on a breaker, even if its not to participate, the viewers are way down, the breaks fill slow or discounted. I'm seeing guys who have access to wax slashing prices in some cases a thousands dollars lower then the big boys....and still sitting on it.