Thursday, May 24, 2012

The one and only true answer.

At least once a day, and usually two or three times a day, I get asked what something is worth: books, toys, but especially sports cards and comics.

The answer is, "I don't know."

No really. I don't know. I'm not trying to be difficult. I quit selling product based on "collectible prices" over a decade ago. I can't even hazard a guess what things are selling for.

There are no current price guides for comics and game cards at all. (There is a yearly price guide for comics that I no longer get.) The sports card Beckett price guide to me was dubious even when cards were hot; I have no idea if they even approach reality.

So here's the one and only true answer I can give: -- something is worth what you can get when you put it up for bid online.

Seriously.

That's the only answer I can give.

O.K. Sometimes they're willing to give me that -- but then they ask, "Who else in town is doing it."

"No one."

Silence, speaking volumes. Again, they don't believe me.

I'm not kidding, there is no one else doing comics or cards in town.

Then they ask, "Can you appraise my stuff?"

Wait a minute, I just told you I don't know what things are worth. How can I possibly appraise anything?

Again, they don't believe me. I have some general knowledge, like -- if it's pre-seventies, it's more likely to be worth something, but it's no guarantee. That material of iconic characters, or iconic events, which are the exceptions, MIGHT be worth more than cover value.

My residual knowledge is suspect -- I can't be sure what I knew 10 or 20 years ago is even valid, so I'd prefer not to pass it along. Trouble is, when I try to explain the above, the conversation gets longer and more complicated, but usually the caller is not any more enlightened.

So that's just the way things go.

But here's the thing.

They don't like my answer. They don't believe me. They just think I'm being a butthead.

Surely, I must have a rough idea of something.

Well, yes. Without looking, I'm 95% certain that what you have isn't worth anything. And if it is worth something, I have no idea how much. So either way, you'll hate my answer.

But even if I did know what something was worth, they would STILL have to try to sell it online, and they would STILL only get what someone is willing to pay them. My opinion doesn't matter, price guides don't matter.

So put it up for bid, and then either accept the offer or don't. That's the only true answer I can give you.

What do you do when you give them the only answer you can give them, and it isn't good enough?

Telling me that you can't go online, or you don't know how to do it, well -- that isn't my fault. I sympathize, really. I don't know how nor do I like doing it either.

All I can do is try to keep is short and simple -- and do it in as gentle a way as possible. "I'm sorry, I really can't tell you what it's worth -- it's only worth what you can get online for it."

Sometimes, they get mad at me. Sometimes they just won't let it go. Sometimes I pull out the big guns. "I sell comics for reading; I honestly don't care what they're worth. I think people should collect sports cards as if they are bottle caps, with no expectation of value."

Again I repeat: " Collecting has moved online. Most stuff isn't worth much. Your Mad Magazines? Last time I bought any I paid .25 apiece."

Sometimes I have to go even further. "Most of this stuff isn't worth anything, except for the exceptions and the exceptions require a lot of homework and I don't do that any more. "

Or the biggest gun of all. "The card hobby is dead. The back-issue comic market is dead. The toy market is dead. I personally wouldn't buy them for ANY price."

Hopefully, they'll take my first answer.

The value of a collectable is what someone is willing to pay you online.

It's the truth.

8 comments:

Unknown said...

As a reader and at one time collector I feel your pain. I've taken to telling people if they are interested in comics make it an investment of quality story and art, and don't think for a minute that these will ever pay for your mortgage or kids college tuition. I've never been a reader because of what things are worth or investment value. In fact when I was 24 I gave all my long boxes away figuring I'd gotten all I could out of them. I know people are desperate for money in this time but collectables are always a shot in the dark. Often they have a quick rise with a just as quick fall. Like getting stock, making a small percentage, and then barely breaking even as you get out quick. If people are interested in comics, cards, Dr Who...whatever...it has to be because of the attributed value the material has in and of itself. If you think those old Archies or some hot players rookie card is worth anything more than that most are sorely mistaken. This is an industry of obsessive niche geeks and not one of legitimate gains.

Anonymous said...

Simply say "I don't Know"

You seem to be unable to answer such.

They're asking because they see you as an expert.

Any other answer than "I don't know", is an insult to them and yourself.

People are lazy,... to sucessfully know what something has sold on Ebay requires understanding how to use the tools, which means you have had been a seller to understand such use of tools. They simply don't know how to determine how much things have sold. They come to your shop to inquire. In better times these would be seen as customers, in these times of course these are hopeless people looking for extra cash.

Personally I think such people are a waste of my time. But then you have set yourself up as such as to be the community expert as such.

Say "I don't know", ... and go on with your business.

Duncan McGeary said...

That's what I was trying to get out.

"I don't know..." doesn't work as an answer. It just leads to further questions.

"Who does know?"

"Don't you sell this stuff?"

"Just give me a general idea."

And so on and so forth.

Plus, they simply don't believe me and think I'm being obstructionist for no good reason. They get MAD at me!

Saying "It's worth whatever you can get online" at least points them in a direction, and is true.

I really wish all I needed to say is "I don't know."

RDC said...

The Internet has made things more efficient. In the past the inefficiency resulted in higher prices for collectables. The reason why is because a collector only had access to a small portion of the market. Finding things often involved searching for it, going through dealers, etc. All of which created an impression of rarity.

Now with the Internet you can easily see how many of X is available and if something is rare enough that its prices goes up those people that hold it, will sell into the price increase and bring the price back down. That visibility has made it clear that for a lot of collectables are really easily found and as a result not very valuable.

RDC said...

The Internet has made things more efficient. In the past the inefficiency resulted in higher prices for collectables. The reason why is because a collector only had access to a small portion of the market. Finding things often involved searching for it, going through dealers, etc. All of which created an impression of rarity.

Now with the Internet you can easily see how many of X is available and if something is rare enough that its prices goes up those people that hold it, will sell into the price increase and bring the price back down. That visibility has made it clear that for a lot of collectables are really easily found and as a result not very valuable.

Duncan McGeary said...

That's a very good explanation, RDC.

What you find though is people don't want explanations, they want answers.

What's the difference?

One is complicated and nuanced, the other is "You're rich!"

Anonymous said...

Instead of I don't know as an answer tell them it will be $10 to appraise the item. Then fire up ebay and see what it has been selling for there.

Then if they want you to actually buy it just tell them you already have 5 sitting in a storage shed....

H. Bruce Miller said...

Anything that is or was marketed as a "collectible" ... isn't.