Making Over $50 on One Fatima Card -- Same Exact Certification #

Just a little tidbit about how I sometimes make summer money with baseball cards. Here is a 1913 T200 Fatima baseball card I just bought. Notice the PSA certification number:

I bought this one via bid last night for $106.50, quite cheap for a 1913 Fatima, in PSA 1.5 Fair condition. The PSA certification number, if you don't want to click the pic--and you should; it's a nice card--is 19195087. So, last night, $106.50, Cert. #19195087.

Of course, before you agree to spend that much money, you research online how much that card has sold for recently on ebay, to make sure you don't overspend. Specific bids on ebay can inexplicably go crazy; I saw just last night some T206 PSA 2s go for almost $40 (you can get them typically between $23-$28) and I saw 3s go for over $50 (you can commonly get them for $35 to $45, max) and so on. Well, one of the ones I saw had sold via bid on May 9th of this year, just a few months ago. Here it is:

This one sold for $157.50. Same card, same condition, same grading company. (Same ebay company, too.) I thought this was rare, since 1913 T200 Fatima cards themselves are pretty rare, so I looked a little closer. You can, too, just click the pic. You might notice the same thing I did. This wasn't just the same card--a 1913 T200 Fatima Cincinnati Reds in PSA 1.5 condition--but it was literally the same exact specific card. Look at the certification number. Exactly the same: 19195087!

What're the odds of that? That means that someone on May 9th--just two months ago--bought this exact same card on a bid from this ebay company for $157.50 (plus $6 shipping). But something happened. Either he didn't actually pay for it, so the same company had to re-post it for bid, or he did pay for it, but either because of financial hardship or something else, sent it back to the same exact ebay company he bought it from to begin with, which re-posted it, and I bought it via bid for $51 less than the original buyer bought it for just two months ago. $150 or so is a decent, common price for a Fatima in this condition, so my $106 bid is a steal. In fact, the original buyer in May spent $157.50, plus $6 shipping, plus another $3.50 or so when he mailed it back to the company to sell for him. At 15%, this company made $23.62 off of him when he bought it, plus whatever profit it makes from the $6 shipping, since it definitely doesn't take $6 to ship this one card to the winner. Then it re-posted it for him and made another $15.97 from the sale to me. So this poor guy spent $157.50 to get it, and got just $106.50 - $15.97 back from it, so $90.53. So $157.50 - $90.53 is $66.97, plus another few bucks for shipping it back to be re-sold. So let's say $70. So this guy lost $70 on this same exact, same certification number, card. In less than 2 months. It takes about a month to mail it to an ebay company: let them itemize it, list it, let it be bid on for about a week, itemize the sale of it, wait a max of 5 days for the winner to pay for it, and then another few days for that to clear through PayPal for the guy to get his money. So that means the original guy owned it for less than a month before he decided to send it back to the ebay consignment company to re-sell for him, at a $70 loss. That sucks!

To maximize a profit, I won't sell this one anytime soon. (It's my only Fatima, so I hopefully won't sell it at all.) I'll wait until the end of the baseball season, and I sell via a different ebay company, anyway. A card in this condition normally sells for $150+. This one, and a Fatima PSA 2 that sold for a crazy-low $126, are the only two out of dozens in my research, in a 1.5 or 2 condition, that I saw sell for less than $150. Sometimes you make more by not selling, and waiting a little. And since I spent $50 less than usual, it won't have to re-sell for much more for me to see a profit from it. I'm confident that it'll sell for about $150+ when (or if) I'm ready to let it go.

The Dolly Stark Situation

Photo: The Dolly Stark Southern League T206 card, from BMWcards.com.  This is not the exact card in the story below.  BMWcards, by the way, is a company that sells really high-end, really high-quality, great-conditioned and highly-graded cards.  In other words, I can look, but I can't buy.
 
I almost bid on a Dolly Stark, which is a tougher-to-find Southern League card, and worth more than other commons in the set.  I can't tell you how many times I've bid on a Dolly Stark card.  So often, it's become a bit of a thing with me.  I have to get one--but not go crazy to do so.  This one was an SGC 30 2, which means it was graded by SGC, and graded a 30, which is SGC's way of saying it's in Good condition.  A 2 also means Good condition.  Good, in this case, is an actual grade, not just someone saying it's in good condition, if you know what I mean.  I'm a bit stingy, because I'm a bit poor, so buying a T206 in Good condition is okay with me.  It's not for most serious collectors. 

So I looked it up in what I call The Book--Beckett's Graded Card Price Guide.  It says that this exact card, in this exact condition, has recently sold for, on average, $80.  (This is not the same as saying it's "worth" $80, but it's as close to an immediate, go-with-it value you can get on short, convenient notice.)  When I saw it, the bid was $27. 

(Side note: Do not ever buy an item like a baseball card as a BUY NOW on Ebay, because if there's something wrong with the item--and there usually will be, or it wouldn't be BUY NOW, it'd be auctioned--Ebay will not reimburse you, and neither will the seller.  Only static items, like baseball card plastic sleeves, for example, or anything else you'd buy off a shelf or a rack, should ever be bought as a Buy It Now.) 

Anyway, I knew the bid would go up, but I hoped not by much, and a common card usually won't escalate tremendously.  I had my bid all set after there was less than one minute to go.  (I place my bid when there's a specific number of seconds left; not tellin' ya what that is.)  My bid was for $41.51, because the shipping was $3.50, and I didn't want to spend more than $45 total, even though the value was $80.  I try not to pay more than half what a card is worth, including shipping.  But as this Dolly Stark situation has become personal at this point, I splurged by a few bucks.  With 5 seconds left, the bids went from $27 to over $30 to over $40, etc., finally settling on $63.00.  That's not bad, spending $66.50 total for a card "valued" at $80--a savings of $13.50, but that was more than I wanted to spend on one T206 card, even though it was a Southern Leaguer (which are more rare and more expensive) and a personal situation, too.  There were other cards I was looking at, and I needed to save my money. 

Plus, once you've settled on a dollar amount you're willing to spend, you absolutely cannot go over that amount.  If you do, you will again, and suddenly you've gone Ebay crazy and spent your mortgage.  Craziness.  So I never sent my bid for this card.  The Dolly Stark situation still remains a personal thing.

The Sherry Magie Error T206 Card Sold on Ebay

Photo: The one you see here is valued at $90,000.  Yes.  90 grand.  Or, half the value of a good house.  The super-famous Magie (Magee) error card, from PSA.com.  The card in this picture is not the same exact one in the story below. 


I just watched a Sherry Magie (correct spelling: Magee) error card from the T206 set--one of the most sought-after, rare and expensive cards in the hobby--sell on Ebay.  Just watching, mind you.  Why?  Because it was in PSA 3 VG condition, which means the grading company PSA said it was in Very Good condition, which is an actual grade, and not somebody saying, "Hey, that's in very good condition."  The 3 means that this is the 3rd-lowest grade for a card, which is good if you're a serious, but financially limited, collector like me.  (Most serious T206 collectors are not financially limited.)  So I'm thrilled to get a card in VG condition, but most serious collectors prefer cards at least a good three stages higher, at least Excellent or Excellent-Mint condition.  If I had the money, I'd be the same.  But I don't, so I'm not, and I'm okay with that.

Anyway, Beckett's Graded Card Price Guide says that this exact error card, in this exact graded condition, has sold recently, on average, for $20,000 (Yes, twenty grand for a baseball card of someone you've never heard of.) and that this dollar "value" has gone up since Beckett's last report.  This is not the same as saying that the card is "worth" $20K, but for our purposes here we can think about it that way.

Suffice it to say, I don't (and most of you probably don't) have twenty grand to spend on a baseball card, so I'm just watching this take place.  At about five minutes before the end of the auction, the highest visible bid (if you've bought off Ebay before, you know the highest visible bid is often nowhere near the highest actual bid) is at about $12,000.  Now, this kind of famous card, an error card, a card that every serious T206 collector (including me) wants to have, will often go crazy in the last 10 seconds of bidding, so I'm fully expecting this thing to jump violently and quickly from $12K to $14K (seeing a baseball card jump in seconds by a few grand is a very rare thing to see), and so on, to come close to $20K or, as I expected, to exceed it.

To my utter shock--and, I'm sure, to the seller's worst nightmare--it doesn't.  It sells for $14, 544.  Someone out there just got one of the hobby's most sought-after cards at a savings of over $5,000.  Well, $5,456, to be exact.  Which means the seller, who should have expected the card to sell for something close, if not more than, $20,000, just took a hit of over five grand.

Meanwhile, I just saw a Burleigh Grimes 1933 Goudey, in PSA Good condition, with a book "value" of $50, just sell for $81.26, plus $3.50 shipping.

So some guy got a card at a savings of over $5,000--and he can very easily just re-list it himself sometime and sell it on some Friday or Saturday night, far away from Christmas time when people are buying presents and going broke, for the $20K, and make a nice $5,000 profit for himself by doing absolutely nothing.  Well, besides using a little common sense.  I would never auction off a super-valuable card around Christmastime.  I'd wait until February, or March, when people are depressed and miserable and will overspend.

Anyway, so some guy underspent by five grand and got a world-class card, while someone else vastly overspent on the Grimes card by $33.76, which in its own way is just as shocking.  Overspending by almost $34 on a card that's only worth $50 is an astoundingly financially unfeasible thing to do.

Ebay giveth and Ebay taketh away.  That's the risk you run putting something up for bid.  If you just get a sparse crowd, you're going to lose out, big-time.  The company selling the Magie card was not one of the mega-name card companies I'm familiar with on Ebay.  If it had been, with the established and serious client base those companies have, the card would've sold for closer to the $20K.

Craziness.  But the company's fault for putting it up for bid when it did.  Even if that's what the client asked the company to do (these guys often auction things for someone else, and get a cut of the sale price for doing so; that's called consignment), I can't believe the company wouldn't convince the card owner that he'll lose a few grand selling it now.

If I'd only had the money myself...

I also watched a 1933 Goudey Babe Ruth #181 PSA 6 EX-MT Condition, sell for $6,100.  Shipping: $20.  (This is the classic card where he's grimacing and looking over his shoulder, his arm on the red Big League Chewing Gum ad.)  The book value: $5,000.  I can't decide if someone overspent by over a grand, or if this is a worthwhile and legitimate value.  A $1,100 profit on a $5K card is a pretty good haul.  This Ruth Goudey card is also one of the hobby's most recognizable cards.  Though not as much as the Napolean Lajoie (who's from RI) 1933 Goudey card.  A Near-Mint one of those recently sold for $60,000.  Yes, $60K for one baseball card.  This company was one of the mega-names, which I think accounted for the profit made by the card.  Sad, but true.  Why the owner of the Magie error card didn't consign it through one of the mega-name companies is a mystery.