"The Art of the Flip".... Someone Help Me Understand

bigunitcards · Apr 25, 2014

Card: 2014 Topps Museum Momentous Materials Autograph 1 of 1 Randy Johnson (/10 & /5 versions exist as well)

Exhibit A:
http://www.ebay.com/itm/2014-Topps-...ue&rt=nc&_trksid=p2047675.l2557#ht_145wt_1124

- a 5 day auction
- no reserve, $0.99 starting price
- 13 bidders, ends for $199.50

Exhibit B:
http://www.ebay.com/itm/2014-Topps-...S_Baseball&hash=item3a8f710b83#ht_1370wt_1124

- The $199.50 high bidder has RELISTED for $850OBO before even having the card in hand.

Now...I understand the idea that if you can get a card cheap & flip it immediatly, it's a +EV move. But this usually entails a cheap BIN by an uninformed/impatient original seller. But in this instant, anyone who would be interested in the card has seen in, and bid on it if it were in their price range. In my instance, I saw it, but I just don't like the card personally. Small autograph in a big white area & a boring purple jersey peice or hat or whatever it is (had it been a letter patch or logoman, heck i'd be going broke for it). This is not a jealousy gripe post, I don't want the card then/now, I just find the buyer now seller's tactic odd.

So, what is he thinking? To break even after fees he now needs $230+. So who does he think is going to pay that didn't already have a shot in the 1st auction? I'd say possibly an investment for when RJ gets in the hall next year, but you probably wouln't relist it asap if that were the case. Ideas?

bobthewondercat77 · Apr 25, 2014

He will get more eyeballs over the course of 6 - 12 months as he keeps the card posted as an overpriced BIN/BO.

Eventually someone will come along that will pay $300 for that card. Could be one of the original bidders that changes his mind, one of the original bidders that gets more paypal to burn, or someone that didn't see the original auction.

ebay was MUCH more fun when it was more auctions... but the long patient BIN/BO is the best way to maximize profit.

LWMM · Apr 25, 2014

It's also possible he's both happy to have the card in his collection, and willing to sell if if someone offers significantly more than he paid for it.

studioclint · Apr 25, 2014

bobthewondercat77 said:
He will get more eyeballs over the course of 6 - 12 months as he keeps the card posted as an overpriced BIN/BO.

Eventually someone will come along that will pay $300 for that card. Could be one of the original bidders that changes his mind, one of the original bidders that gets more paypal to burn, or someone that didn't see the original auction.

ebay was MUCH more fun when it was more auctions... but the long patient BIN/BO is the best way to maximize profit.

I have to agree with this. I used to buy more on ebay when there were more auctions.

bigunitcards · Apr 25, 2014

bobthewondercat77 said:
He will get more eyeballs over the course of 6 - 12 months as he keeps the card posted as an overpriced BIN/BO.

Eventually someone will come along that will pay $300 for that card.

Tie up $200 in capital for a year+ hoping to make $30 in profit. That's by big beef with the long term best offer strategy. In business, if you aren't making a higher profit% than a savings account, you're wasting your time. I have to think there are smarter opportunities out there than this card/price.

Don't get me wrong, I'm not routing against this guy or his strategy. But like a woman's obsession with shoes, I just don't understand it.

predatorkj · Apr 25, 2014

Well, I can't speak for anyone but myself but I know that sometimes I see a card go at auction and I just don't have the ability to win it. Now, no I'm not paying a great fortune more for it if it pops up again. I see people do that crap all the time. But, if the card is already high end, I need it, and all I have to pay is $50 extra, I may bite. On the end, I want the card, and I look at the price as something I'm either willing to pay or not. Plus, the extra time allowed by a BIN/BO listing helps me pick and choose when to hit the thing or make an offer.

But most people are buying something and relisting it at a significantly higher price. And they usually get stuck with it.

bobthewondercat77 · Apr 25, 2014

bigunitcards said:
Tie up $200 in capital for a year+ hoping to make $30 in profit. That's by big beef with the long term best offer strategy. In business, if you aren't making a higher profit% than a savings account, you're wasting your time.

If it took 12 months to sell and he profited $30, that would be approximately 12 times the rate of profit on a savings account.

If you choose items that have a "floor" value near what you pay in auction, this kind of flip is one of the smarter plays in the business. It's also just really boring as a flipper... and eliminates bargains for us bidders... so I'm not thrilled at how prevalent it is. But it's fairly smart if you do the right pieces at the right prices.

MansGame · Apr 25, 2014

It's things like this which piss me off haha

I wish eBay still made people pay for auction listings and all to not allow people to just advertise basically a card on their site for 6-12 months. Just ridiculous.

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"The Art of the Flip".... Someone Help Me Understand

bigunitcards

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