Thoughts on auction prices and comps...

[chester0711]

What are everyones thoughts on auction prices and comps?

As a seller, do you take them seriously or not as much?

What if you have 7 BIN prices in past month at say $1k or within $50 of that but the most recent price is an auction price at $750?

All things being the same with the player (like they didnt do something to drive value down etc....) Do you pay the recent auction price any mind or do you sell off BIN?

I ask because I watched an argument unfold at a recent show in regards to a Buyer trying to use an auction price to justify his offer, and a seller was not having it. There were 5-6 BIN prices total in past month and the progression looked something like (most recent sold price is first):

BIN = $990
BIN = $1050
Auction = $780
BIN = $975
BIN = $1050
BIN = $1090

The buyer of course was trying to get the card for $800, using the 780 auction to justify the ask.

Seller wanted $975

Thoughts on auction prices and how they play into comps?

[sheetskout]

Yes, I take them seriously. It's literally (most) of our market. There may be some discount to doing business in-person but sales are sales.

[mlbfan10]

$975 is definitely fair in this case, maybe the buyer could have offered $900.

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[ottobord]

Originally Posted by chester0711

What are everyones thoughts on auction prices and comps?

As a seller, do you take them seriously or not as much?

What if you have 7 BIN prices in past month at say $1k or within $50 of that but the most recent price is an auction price at $750?

All things being the same with the player (like they didnt do something to drive value down etc....) Do you pay the recent auction price any mind or do you sell off BIN?

I ask because I watched an argument unfold at a recent show in regards to a Buyer trying to use an auction price to justify his offer, and a seller was not having it. There were 5-6 BIN prices total in past month and the progression looked something like (most recent sold price is first):

BIN = $990
BIN = $1050
Auction = $780
BIN = $975
BIN = $1050
BIN = $1090

The buyer of course was trying to get the card for $800, using the 780 auction to justify the ask.

Seller wanted $975

Thoughts on auction prices and how they play into comps?

It became an argument? Seems silly. Anyway the auction is an outlier. All things being equal I would vaulue the card at 1k.

[theshowandme]

Buyer sounds like an idiot

[KhalDrogo]

What’s the card?

[hammertime]

I think people rely on comps way too much, to the point that some don't know how to price a card or make an offer unless they have comps to go off of...

If it's a common card like a PSA 10 US300 then fair enough. If it's vintage where eye appeal plays a big part, or a low-numbered card that doesn't come up often, I think they're largely useless.

[nabzy28]

Originally Posted by hammertime

I think people rely on comps way too much, to the point that some don't know how to price a card or make an offer unless they have comps to go off of...

If it's a common card like a PSA 10 US300 then fair enough. If it's vintage where eye appeal plays a big part, or a low-numbered card that doesn't come up often, I think they're largely useless.

Exactly. I have absolutely "overpaid" vs. eBay comps on cards that just don't show up often or - in the case example of vintage - look better than anything that would be a 'comp' from eBay. Now, common, easy to find modern - negotiate away if you know you can just locate more copies to work toward elsewhere, easily.

[hermanotarjeta]

Originally Posted by mlbfan10

$975 is definitely fair in this case, maybe the buyer could have offered $900.

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The flip profit margin wouldn’t be worth it for the buyer.

[theshowandme]

I once wore a "Paying Above Comps" shirt to the National

[Sluggerrr]

I get it. I've offered low end of comps. This is just a case of someone being a bad person and not walking away when they should have.

[Rbradleigh]

My thought is owner doesn’t have to sell, it’s their decision to make.


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[MiamiMarlinsFan]

Buyer can offer whatever they want, seller can accept or decline. It’s not a big deal either way.

[towerymt]

Originally Posted by chester0711

Seller wanted $975

Cash sale in person? Thank you have a nice day, and keep walking.

$1k on ebay will be under $900, so I would think there would be room to move on $975 at a show.

Buyer can offer $800 but doesn't mean he'll get to buy the card.

What's the card?

[DynaEtch]

Auction and buy it now are a completely different type of comp. For one, auctions final prices are based on the 2nd highest bidder's max, not the most the highest bidder would pay. Also prices on auctions are deflated since bidders have to catch it in real time, be interested in buying it during that one interval...whereas BIN is buy at your convenience.

Had an item for ~$1000, no best offer. Buyer messaged offering around $500, saying that's the where sold comps are. Checked ebay comps and lo and behold there were a couple BIN sold comps, $1000 and $1300ish, and told buyer. Their response- the last auction sale comps were like $500, so that's what the market thinks it’s worth and is the only true comp.

Uh...if there are examples of people buying it for the higher prices, then why would I not try for those on this listing, which after all, is a BIN listing, not an auction. Turns out it sold for my BIN, simultaneously as this buyer was dictating in messages what the item is 'truly worth' (about half the BIN I sold it for).

Seller at the show should have said: "well this is not an auction"….end of argument.

[LVDan]

Too many variables based on the card in question, although with that many recent sales I’d think 900-950 should satisfy both parties if both motivated to deal. My guess is the buyer didn’t “need” the card but was willing to buy if he thought he could clear an instant c-note. Super common negotiation range and no-deal IMO

[Rbradleigh]

Human psychology is people tend to value items more when it’s theirs. This is a decent reason why an owner wouldn’t necessarily care what someone else’s comp is. Now if the owner is looking to unload an no emotional attachment then it doesn’t matter.


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[hermanotarjeta]

The buyer is obviously a flipper, I can't believe people can't read this scenario.

The buyer would never pay even $900 for the card because after fees, there would be no profit left even at the lowest BIN price.

His $800 offer if accepted would allow him a $100+ profit, enough to put his money at risk.

This dealer read him like a child's book, I'm glad the dealer held firm.

Any collector would have purchased the card simply for the convenience of having the card in person immediately after sale and personal inspection.

Do this many clowns roam the show floors?

[ksemmel]

Originally Posted by hermanotarjeta

The buyer is obviously a flipper, I can't believe people can't read this scenario.

The buyer would never pay even $900 for the card because after fees, there would be no profit left even at the lowest BIN price.

His $800 offer if accepted would allow him a $100+ profit, enough to put his money at risk.

This dealer read him like a child's book, I'm glad the dealer held firm.

Any collector would have purchased the card simply for the convenience of having the card in person immediately after sale and personal inspection.

Do this many clowns roam the show floors?

A little personal response here it seems. Slight little hate towards people that resell?

[hermanotarjeta]

Originally Posted by ksemmel

A little personal response here it seems. Slight little hate towards people that resell?

But, I love clowns!

They are very entertaining.

[slogue2]

I look at recent auctions and BINs when listing cards. Lots of other variables go into play depending on the card and player in question. I did have a fun example of this yesterday on eBay. Listed a card for several hundred higher than the last completed sales. A “buyer” (in quotations because he never buys from me. Only ever low balls) came to me with his regular song and dance of pointing out prior sale prices, etc. I told him I knew it was priced high, but that this player was likely to be a hot target for folks as spring training arrives. He then got mad at me for not selling below the last sold price from 2 months ago. Before I could respond, someone hit the BIN. Had fun sending him that screenshot.

As a buyer, I love auctions because, of late, I am regularly getting cards for much cheaper than their BIN counterparts online. I don’t look too much at comps when it’s a card I really want. I’ll hit BIN or set my auction price as high as I’m willing to go. Don’t really need the market to dictate to me what I’m willing to spend.

[Slvnumber2]

If there are comps at $1k, $950, $1050, $935, and $500 the seller is looking at the 4 high ones, and the buyer is looking at the $500. I had a recent sale like this and the buyer picks out the one outlier sale to justify his asking price. I asked him to show me the last 5 comps and we will take the average. Did not like that idea - he wanted to quote the last one since it was the outlier. People need to be honest and realize sellers use comps too ��

[SaveMeTheGum]

Comps are one of many variables in an item's current value. They are an important one, but they are just one.

[MoreToppsPlease]

Originally Posted by SaveMeTheGum

Comps are one of many variables in an item's current value. They are an important one, but they are just one.

Definitely this, it’s telling how nobody brought this up earlier in the thread. I guess simple thinking allows for greatest flipper profit?

[theshowandme]

I bought the Green Cobb within 60 seconds of seeing it. No comps checked.

We then got a pic in front of a nice propaganda sign