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(attempted) Flip of the Day!
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2,075 posts in this topic

On 1/30/2019 at 3:38 PM, vodou said:

Case of ignorance? I doubt HA begs to give up their end.

Maybe.  I don't know for sure, but I heard that the HA minimum is $5K.  If so, I don't see $20K getting any sort of special treatment.

Malvin

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I usually don't post the ones i see, but this one i found amusing:

 

$135 on clink:

http://www.comiclink.com/Auctions/item.asp?back=%2FComicTrack%2FAuctions%2Fbids.asp&id=1298221

 

$800 on ebay (no bids so far)

https://www.ebay.com/itm/Ramos-AMAZING-SPIDER-MAN-2-pg-12-SECOND-PAGE-EVER-OF-NEW-SEXY-FEMALE-ELECTRO/372603454273

Edited by Pete Marino
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On 1/26/2019 at 5:30 PM, Sideshow Bob said:

So its not a flip as its two years between buy and sell, but an illustrative lesson in the costs of trying to buy back something you sold and the true cost of transaction fees (especially Heritage).

In Feb 2017, I sold this Long Halloween page on ComicLink. It really is a nice page, but I was going through a "does it spark joy?" phase and it didn't make the cut. I consigned it and the winning bid was $381, a reasonable price for a good Gordon page from a great series by a master artist. Its going to hit the auction block at Heritage in the Feb 21 auction. I thought maybe I'd bid on it, but asked the question, what would it cost me to get it back two years later with the same economics, ignoring inflation and opportunity cost? Crazy, it came it out to $237 as my max bid on sale proceeds of $343. Here is the insane math:

Winning CL 2017 bidder: $381 + shipping $25 = $406

My take after CL 10% fee of -$38: $343

Back out 8.875% NYC sales tax if I bid again: -$28

Back out Heritage 20% buyers premium on pre-tax total: -$52

Back out Heritage standard shipping/handling: -$25

My max bid to be break-even from Feb 2017: $237 vs the $343 I got as a check in Feb 2017. That is a -30% move from my sale proceeds or a -38% move from the last winning bid. Wow. 

Even more frightening, in that scenario, the new consignor gets hit with a Heritage sellers fee of 15%, so the take-home is $202, or a 50% loss from what they paid (with shipping). Ouch.

In reality, I won't win at $237 and the consignor won't get destroyed, since someone will bid higher than $350 for this lovely page and become the new owner... it just won't be me.

[For illustrative purposes, if the consignor is the original buyer from Feb 2017, to break even at a purchase price of $406, after HA fees they'll need a hammer of $467. As the new winning bidder, if I bid $467, after 8.875% sales tax and 20% fees and $25 shipping, it will cost me $626. That is 1.65x the last hammer price of $381! The question becomes... did the Long Halloween interior page market move up +65% in the last two years? For the economics of selling this through HA two years later to work, I sure hope it has!.]

 

Original Comic Art:Panel Pages, Tim Sale Batman: The Long Halloween ...

Here is the update on this post: Sold at Heritage for $800 hammer, $960 with BP. The consignor did very well here, almost doubling his/her money from Feb 2017 to Feb 2019 (assuming standard fees). Congrats! 

So, I like money as much as the next person, and I would have preferred $780 of sale proceeds in my pocket versus the $343 I got in Feb 2017. I do sell pages often enough, so I have to ask myself these questions:

Did I just sell too early as the LH interior page market has effectively doubled over the last two years?

Did I make a mistake by consigning this to CL rather than HA, missing out on a larger buyer pool that loves Tim Sale but doesn't follow CL?

Is it the auction format versus the final price model that makes the difference in the ending price?

Was it just serendipitous that just the two right people showed up this time with cash in hand and bid this nice page way past its rational level? 

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27 minutes ago, Sideshow Bob said:

Here is the update on this post: Sold at Heritage for $800 hammer, $960 with BP. The consignor did very well here, almost doubling his/her money from Feb 2017 to Feb 2019 (assuming standard fees). Congrats! 

So, I like money as much as the next person, and I would have preferred $780 of sale proceeds in my pocket versus the $343 I got in Feb 2017. I do sell pages often enough, so I have to ask myself these questions:

Did I just sell too early as the LH interior page market has effectively doubled over the last two years?

Did I make a mistake by consigning this to CL rather than HA, missing out on a larger buyer pool that loves Tim Sale but doesn't follow CL?

Is it the auction format versus the final price model that makes the difference in the ending price?

Was it just serendipitous that just the two right people showed up this time with cash in hand and bid this nice page way past its rational level? 

I have no opinions on most of your rhetorical questions, but I'm willing to bet that buyers of non-batman Tim sale pages that would only look at ha and not clink is almost non-existent! 

Malvin 

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50 minutes ago, Sideshow Bob said:

Did I just sell too early as the LH interior page market has effectively doubled over the last two years?

I think this is probably the biggest factor.

51 minutes ago, Sideshow Bob said:

$960 with BP

Which begs the question... Could this page have sold for $1050 privately? ($960+tax)

OR could it have sold for $800 at CLINK today?

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2 hours ago, malvin said:

Was it just serendipitous that just the two right people showed up this time with cash in hand and bid this nice page way past its rational level? 

^^

There may actually be more than 2 people, but it's still not that interesting a page unless you have an unusual fondness for ugly ties.

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1 hour ago, Rick2you2 said:

^^

There may actually be more than 2 people, but it's still not that interesting a page unless you have an unusual fondness for ugly ties.

Agree. It's only the value of much nicer LH pages that pulls this one up from the unorganized $200 pile.

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2 hours ago, zhamlau said:

I dont think this should be on this thread really. Full disclosure I bought this and sold on HA, but I think the point of this is to call out really egregious aggressive mindless ramp up cash grabs. This item was poorly listed and i got it for less then 1/2 price. I tried even offering it on CAF like I always do for less than market (and 1/2 of what it sold for) but only got some low level tire-kick interest. It was only then that I put it into a better auction with no reserve. I don't think this is a "flip", I trusted my instincts and invested in something. If you go from auction to auction no reserve I don't think its a flip, at least not one needing to be called out as such.

Agreed. This is called “spotting a bargain.”

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1 minute ago, Rick2you2 said:

Agreed. This is called “spotting a bargain.”

You can do both...buy a bargain and flip it for profit

If you buy to Sell it’s a flip some are certainly more  egregious than others but flips all the same 

Flipping doesn’t always have negative connotations and  can be a smart move

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37 minutes ago, Bird said:

You can do both...buy a bargain and flip it for profit

If you buy to Sell it’s a flip some are certainly more  egregious than others but flips all the same 

Flipping doesn’t always have negative connotations and  can be a smart move

Agree I think to disagree. Simply moving venues with no price controls and trusting in your market knowledge I think doesn't count for flipping. Same goes for buying a stock you feel is undervalued and then selling later for more.

 

(Also in this specific case this thread is about folks failing at buying items for market and trying to force a ridiculous premature price raise on it, which on no level describes what I did or what happened)

Edited by zhamlau
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1 minute ago, zhamlau said:

Agree I think to disagree. Simply moving venues with no price controls and trusting in your market knowledge I think doesn't count for flipping. Same goes for buying a stock you feel is undervalued and then selling later for more.

 

 (Also in this specific case this thread is about folks failing at buying items for market and trying to force a ridiculous premature price raise on it, which on no level describes what I did or what happened)

Yes I agree to some extent. The thread certainly is about the failed flip. And I recognize that you did not sell it at a fixed price. But my definition of flipping is buying to sell quickly and at a higher price, which seems to have been met here. It is okay, like I said, no negative connotations to your behavior. You are not a bad guy for this by any stretch. you actually seem like a good guy form what I have observed on the boards. I did not mean to insult and if I did I expressed myself poorly. I hope you forgive me, you dirty flipper! :jokealert:

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6 hours ago, Bird said:

You can do both...buy a bargain and flip it for profit

If you buy to Sell it’s a flip some are certainly more  egregious than others but flips all the same 

Flipping doesn’t always have negative connotations and  can be a smart move

Agreed. Any buying with the sole intention of selling is flipping. Many do it. Some just much better than others.

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Weird War #68 page by Ruben Yandoc, sold on Comiclink in Feb. 2019 for $73

 
On eBay with countorlokcollectibles2003 for $149.95 BIN
 
 
I cry foul! This is a blatant manipulation of the Ruben Yandoc art market. Yandoc deserves better.  :)
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