I can't believe a dealer said this! Stop being afraid of taking a loss.

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I cannot believe a dealer said these words to me at a recent show. Weather you are into Cards or Comics this is wild. You cannot be afraid to take a loss.
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Опубликовано:

26 июн 2024

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Комментарии : 90

@TheCardHunter 14 дней назад

Opportunity cost is the most difficult financial concept for most people.

@MichaelIp 14 дней назад

Yep. Most people can't see that at all. And that's why many people fail at business.

@zachpierce641 14 дней назад

Just to play devils advocate. I think there’s some people that set stuff out they’re good with keeping . I see dealers with the same cards at every show and they are super high end cards I think they are more showing off than looking to sell. If someone offered them a crazy price they would sell it, but i don’t think it’s going to happen. It could be a comic book he truly doesn’t need nor want to move off of.

@scottmccarthy7681 14 дней назад

The sunk cost fallacy. A very important concept to understand if you are selling anything. Good video Neo.

@TripleCrown24 14 дней назад

Good topic. When I'm given an offer, this is what I consider: A) Is the offer close to what I want? B) Is it likely I will get an offer that is significantly better? C) How long will it take to get a better offer? I know very little about comics, but if that's a book that is sold regularly (which it looks like it is) there has to come a point where you cut your losses. He could've bought a few more of those books in the last few years plus who knows what else. Cash flow is so critical in selling collectibles full time.

@NEO_Cards_Comics 14 дней назад

Good breakdown

@MasterShake300 13 дней назад

Very inspirational chat man. I've taken the first step in pulling the trigger on getting rid of some bum stocks i purchased a a year - 2 years ago. I've continued to watch them fall in value thinking i was just locked into keeping them until they "bounce back up". But that continues to look more and more unlikely for whatever reason. It's time to pull the bandaid! That money could be put in much better places. Great video!

@fazejmo1953 14 дней назад

The threat of getting taxed on EBay sales makes it a lot easier to sell stuff for a loss in my opinion. If I find a grail, I have no problem selling stuff I don't love anymore even at a loss to pay for it

@JeffreyBeckerPhotographs 13 дней назад

Great video, NEO. You could almost rinse and repeat this video every 6 months - very valid, timeless content!

@duanetomka6559 14 дней назад

Last yeah I took it in the shorts on a Kyler Murray RC I got at the peak 2.7k yrs ago. Sold it for 450 last year. Since then I have taken that 450 and made 2 flips getting back up to 1k. Now I am still down 1.7k but no way that Murray is at 1k right now. Opportunity cost ! I dont want to say I love selling at a massive loss ;-) but it is kind of fun challenging yourself to get creative and get your a*s out of the hole!

@PNWCardsNComics 14 дней назад

It's amazing how myopic dealers/flippers can be regarding price, value, worth, and costs. I'm guilty of it, too, sadly. It was a hard lesson learned but definitely needed. Recoup what you can while you can; especially when inconsistencies and fluctuations start causing havoc. As you say, "they let you buy them back." Thanks for the video, NEO.

@Cool_Doctor_Money 14 дней назад

Cle guy should know no shorts, no losses!

@gemmintmasters 14 дней назад

This is why I’ve chosen to only buy raw cards and grade myself. Gives me sooo much more of a runway by taking a $30 card and immediately getting it to $120 BUT ALSO knowing that it could come down and at least make something. Always a risk it’s a lower grade too and taking a loss and moving on. That hard line approach just doesn’t make sense to me (and probably to most)

@alanhom5714 14 дней назад

Great topic! Very helpful to me!

@larrysclassicsports 14 дней назад

How many dealer are really running thier business and not running a business as their primary job that feeds thier family. He may want to have some high end books in his case to draw people to his table and price it I don't want to sell table.

@breebree3442 14 дней назад

I got into the hobby around 2020 so I’ve had to learn this lesson for sure. I’ve also had to learn to sell on hype and not be afraid to take a profit if it’s not a PC card which is also tough sometimes.

@magemarshall3139 14 дней назад

You make some valid points But that’s your opinion and you don’t know the whole picture That dealer may not want to sell the book ever He may want it on his wall just to draw people to his area Put a big price tag on it and you don’t have to worry about it moving But somebody comes up to look at that see something else there you go

@NEO_Cards_Comics 14 дней назад

Dangerous game to play. A lot of people would that price and not even look at anything else when you are that far off.

@moaf2padventures757 13 дней назад

i mean from the conversation he had with the guy it seems pretty clear the guy is just waiting it to go back up so he can get his money back and would sell it in a heartbeat if he could break even. so really none of the stuff you said is particularly likely.

@joelkaplan2157 14 дней назад

This happens with cards every show I go 2

@hitmanskid-td4pg 14 дней назад

cause dealers are losers

@joelkaplan2157 14 дней назад

@hitmanskid-td4pg no they just have hard time excepting prices change

@Eclipse_Cards 14 дней назад

Agree 100%! I recently starting running auctions on items that weren’t moving and it has been 1000% worth it. Money back for me to reinvest, more eyes and traffic on my store and really not much of a loss. Some actually sold for higher than I was into it. Move that product, don’t be afraid of a small loss for bigger gains in the future!

@anusinha6958 14 дней назад

"Can't take a loss, bro"

@montana01 14 дней назад

I feel like it all depends on your inventory and need for cash. If you can move other cards/comics for profits, and you believe it could go up in 12-24 months, why less at a loss now. If you do sell, whatever you buy could go down too. Every case is unique based on the short-long term projections.

@peterpnutz6691 13 дней назад

"They let you buy them back"

@karmy2005 5 дней назад

It really depends on what the card is. I have a very rare wrestling card, that only sells once every 12 to 24 months. The last auction sold for $760 in 2022. A buy it now pops up much later in 2024 for $300 which was way underpriced from the last sale. A steal of a price if you ask me. But do you go with the last comp because it's the newest one but priced way lower, or go with the auction that went for more than double? This is a card where there are only 100 out there and only sells once every 1 to 2 years. I'm not going to sell my card for $300 just because somebody was stupid enough to throw it up for way lower than the last sale. This is a card that I've been keeping track of in price since 2015 when it first was released. Pre-pandemic, this card was $420. Card was hovering around $500-$600 during pandemic in 2021. It was one of the few cards that was legit going up after the pandemic.

@LetsStormTheTeaCupRide 14 дней назад

Why even bring it out if his selling pitch is "don't buy this, buy someone else's"?

@MichaelIp 14 дней назад

Maybe to spark interest at his table hoping to sell other things? That's the only reason I can think of.

@RCAdome28 13 дней назад

@@MichaelIp that is the reason

@AtomicZombieAndroid 13 дней назад

Nothing wrong with museum pieces

@RCAdome28 13 дней назад

@@AtomicZombieAndroid the price is so high it was almost priceless. Truly a museum piece. Yeah ok

@LetsStormTheTeaCupRide 13 дней назад

@@AtomicZombieAndroid Can a low grade book with a somewhat high pop count valued in the low thousands really be considered a museum piece?

@KetchumAllCollectibles 13 дней назад

Best way to make a loss worse is to cling to it for a long time and tie up that capital from doing other things cashflow wise. Some people will just hold stuff forever not remotely thinking about inflation or opportunity cost. I mean if they have no debt and are still having the cashflow to buy collections regularly and grade and do his normal stuff not a huge deal, but you never really know their situation.

@N3dFlanders 11 дней назад

The problem with this take is that you’re treating X-men 1 like it’s a gamble to hold. It’s going up, no question.

@ericperry2032 14 дней назад

Additionally, consider this: In many cases, a dealer can realize a tax savings when they take the loss. If they file a Schedule C and use a common method (beginning/ending inventory totals) of tracking their merchandise, the loss isn't nearly as big as it first seems. Maybe the dealer reports their business income differently.

@richdoll8898 14 дней назад

Agreed, liquidity and velocity of money is going to make up the losses or at least give you a chance too vs wait the market out.

@rage508cardsngrails 13 дней назад

You see I held u down last night on scr live about sports hack 🤣😂 💪🏻💯

@consciouswynneconcepts 14 дней назад

The issue I have seen at most shows is that dealers always want to lowball you by offering 50%-60% of comps on your books while at the same time overpricing their own books. I had a dealer offer me $400 for my Secret Wars 8 CGC 9.8 when they were selling for $800-$900 all day long on Ebay. This wouldn't have been as bad if he didn't have the same book in a 9.6 for $600 on his wall. He also had raw copies around the $300 range. His excuse for the lowball offer was "I already have 9.8's back at the shop." So why didn't your bring one to this show? C'mon man! 😂

@gcheath19 14 дней назад

Great video. I learned this lesson in 2020 with ultra modern basketball. Made the horrible mistake of buying a Trae Young PSA 10 2018 Prizm for $720. But I sold it eventually for $250 as the entire basketball market crashed. That card is now like $35.

@barrinter 13 дней назад

Even if you wait a decade or more to try to break even, you still won't break even due to inflation.

@FromTheBenchYT 8 дней назад

A truer statement has never been made. Also it's means you're transacting more and you're building more relationships. There's tables at my local shows I never look at because I know they're out to lunch on their stuff so I don't even bother looking.

@nolanpaul52 14 дней назад

Taking losses sucks but I've been doing it. Caveat is I pump the $ plus some $ right back into a steal of a deal while that players market is down and "trade up" for a card I have more confidence in.

@JohnWilliams-wz9vk 11 часов назад

Put any asset in front of you..cards .gold ECT..ask one question .do I want the asset..or the cash...period..full stop

@moregunzthanroses281 14 дней назад

If he’s a dealer/collector why not hold ? I have cards in my collection I price them not to sell tbh. As a collector it’s not that serious. Get what you want or just keep it in the collection

@grindstone11 14 дней назад

No reason to take it if you know you’re overpriced on it.

@NEO_Cards_Comics 14 дней назад

I don’t think you are traveling around and setting up at a big con to just set it out

@Carliferz 13 дней назад

I'm taking losses all the time. Part of the game. However my gains far outweigh my losses.

@djmagicmike820 14 дней назад

I just took a 15% loss on a Flair Jordan in a BGS 9.5. I still want the card, it's back on my buy list now, but I'm moving off anything BGS, I don't respect the company and don't see that I will anytime soon. But I also have lower end Griffeys that are graded 10s that I don't want to have to try track down later on so I have them listed higher than comps and I don't have a lot of room. We all get to choose what we will pay for and what we will sell for

@ryanra44 14 дней назад

Off topic, but do already own an Uncanny 221 (FA Mr. sinister)? Would be cool to see a video or all your best 1st appearance marvel issues

@NEO_Cards_Comics 14 дней назад

I do not own that one.

@Bigdawg_74 13 дней назад

Normally I would agree but Comics especially core books like that one or any major milestone or 1st Appearence IMO are different than sports cards. Each year a player has after his RC card release everything tends to die a horrible death. Comics however especially the major characters or teams always seem to have a new movie or reboot to boost sales and get people excited. Maybe it won't hit 10K but I'm willing to bet the next X-Men movie release and God forbid they ever have them in an Avengers movie down the line that book isn't sitting at 5-6K either it's almost certain to increase from where it is even for the short term and that is all the seller needs then let the next guy worry about it going back down.

@lowrollerscratcher3563 14 дней назад

Setting bargains box 25 cents-5 bucks in the card show. You have less risk losing any money compare buying expensive sports cards.

@AtomicZombieAndroid 13 дней назад

low risk low return, that's fine if its a hobby but if its a business and you not taking risks you won't be around long.

@buildingyoursuccess 14 дней назад

Scenario: dealer sells for 5k - takes a 5k loss. Puts that 5k into new inventory. Does a modest 25% ROI on new inventory in 3 months. Repeat that process. In 12 months dealer would recoup original loss.

@kevinhayes7967 14 дней назад

And write the loss off on your taxes

@vernonstanton3541 14 дней назад

@@kevinhayes7967how do you write of the loss? As an expense? Appreciate your time.Thanks.

@montana01 14 дней назад

Or you don’t get a 25% ROI every 3 months, and you lose 25% every 3 months, and then your left with nothing. There’s nothing wrong with not wanting to sell at the current market value.

@Moe_Mentum33 14 дней назад

⁠agree with you Montana it’s not easy making a modest 25% increase and more likely to lose money

@kevinhayes7967 13 дней назад

@Moe_Mentum33 business that are more likely to lose money fail as a business. If they hold on to the magazine for 3 years, they lose on inflation And lose on inventory turns.

@billp6605 14 дней назад

You can turn that $5.5k into $11k likely faster than the book will get back to $7k.

@RCAdome28 13 дней назад

Greed is a sin. He was engaged in greed.

@jagsfan6988 14 дней назад

lol if it’s a hard to find card let a man hold pay more if you can’t walk up to another table and buy it just simple supply and demand I would LOVE TO PAY LOWEST COMP ON EVERY CARD I FIND IT DOES NOT WORK LIKE THAT

@kainslance 14 дней назад

This seller is doing what people do in poker, throw bad money at good money. He needs to cut and run. If he has money in hand he can make that money back over time. Sitting on one item won't gain value like multiple items can.

@Comicbookyoutubersrock 14 дней назад

Your biggest mistake was trying to buy an X-Men 1 at a show. The inflated prices will be nuts! Just wait for an auction.

@NEO_Cards_Comics 14 дней назад

I mean I ended up finding on and paid current market prices

@forpetesake20 14 дней назад

yall done made people believe that these cards are investments and that they will make money in the hobby then get made whne people want to make money in the hobby. 😂😂😂

@johnnypopsicle 14 дней назад

Supply and demand all cards drop in value because there are plenty of cards. There is a shortage of affordable boxes because of breakers and illegal gambling. The money faucet is being shut off for many but not the big companies

@kevinhayes7967 14 дней назад

Story about how to run a less successful business than one could.

@johnnypopsicle 14 дней назад

You probably have a better chance of getting an answer to my questions than me. Like how many cards are made and how many need to be made. Inflation is supply with more demand than the supply. Why does panini waste manufacturing on crap no one buys instead of more optic football which should lower the cost. How many of these companies are taking advantage of the common man who doesn't understand Inflation and what causes it and people don't understand that no one in cards makes the cards, like everything else someone else is supposed to do the work. I think card companies are lying about supply and don't want an affordable price. No one going to NY does anything that actually adds to the country and lowers inflation. They are all pure consumer or dealers selling the lie. These companies don't make the cards they outsource it. No transparency so we don't know if they have a supply shortage or not. We don't why they just don't make more to lower the price. My guess is they all are scammers

@richardperez5075 14 дней назад

Those who dish it out gotta take it too 😂😂😂

@moaf2padventures757 13 дней назад

it seems like you do this video a couple times a year. my comment is always the same: what you paid is sunk, all that matters is what the card is worth now. if a card/book is worth X and somebody offers you close enough to X that you would ordinarily take it, just take it. we've all made this mistake multiple times im sure. once you take a loss for the first time and you realize the its totally fine and the world will continue, then it becomes easier to do going forward.

@alphaomega9563 14 дней назад

Pro tip if no one sells price stays up. How about nobody races to Bottom that’s how prices don’t fall if nobody sell.

@lowrollerscratcher3563 14 дней назад

Sports cards it is like cryptocurrency like Bitcoin, dogecoin, and other. Cryptocurrency is making comeback again. Sports cards is no different than cryptocurrency and stock market. The problem of sports cards not enough liquidity compare cryptocurrencies and stock markets.

@michaelroot1960 14 дней назад

Plandemic

@SellersPremium 14 дней назад

These so called collectors think the prices they want to pay is your value 🤣🤣🤣🤣 get yo hoarding ass out of here his price is his price you don't dictate prices negotiate and move on