A Brief Addendum to the Preceding Article
I have said many times that I simply do not understand people who list something for outrageous prices. Do they not care if nothing sells. A $1,000 pack of sugar from the Seattle World’s Fair, a few Intramural Railway tickets for thousands of dollars and the list goes on.
I am 99.99% sure those ridiculous listings never sell, but somewhere between those and the logical prices there is a huge middle ground. I was reminded again that it takes more than a silly seller; it takes a willing, naive or undeducated buyer.
When I was tabulating those 200 eBay sales the first weeks of June, I was gain reminded that the fault often lies with buyers’ naivete.
I neglected to mention a few of the sales that really had no bearing on values and the evolution of the ticket marketplace; but I should’ve added these few paragraphs as a warning if nothing else: DO NOT believe something is worth the price just because someone is asking it!
Sorry but why would someone pay $75 for a Washington ticket? Or $80, $100 and $110 for Lincoln tickets? $140 and $250 for Indian Chief admission tickets? Between June 1 and 22 collectors did!
It’s much more forgiveable spending $79 or $89 for the common S-102 ticket. I can remember paying too much for an unknown ticket; unknown to me forty years ago. We learn by missing out on the good buys and making some dumb ones. I suspect that many of the June ticket buyers do not know an S-102 from an S-64; perhaps they had never seen nor acquired an S-102 ticket and decided they shouldn’t miss the opportunity.
Fortunately, several ridiculously priced tickets went with no bids during the same three weeks. Still when dozens of every admission ticket are available, it does seem inexcusable to arbitrarily buy an overpriced one. But then it’s not my business. I am only trying to save new collectors from making financial mistakes.
There are a ridiculously large number of grossly overpriced Columbian tickets, medals and other items on eBay, like a bear trap just waiting to be stepped on by the unsuspecting (and uneducated) buyer.
Wouldn’t it be nice if there were a sticker system similar to the CAC one used on coins that have been designated as superb, above typical quality for the grade? We could sticker all of the ridiculously priced listings with perhaps a “STOP” sticker warning the unsuspecting buyers away.
Sometimes it is true that “he who hesitates loses” so if you see a great opportunity you don’t want to miss, grab it; but if you’re not sure, just look at all of the other identical tickets (or medals or most anything else) priced dramatically lower.
I applaud your honesty and candor regarding your comments on the valuation and availability of columbian tickets vis-a-vis on the collector’s market like Ebay and cannot wait for your upcoming publication. Your years of collecting and cataloging Columbiana justify your opinions. For us collectors that enjoy the hunt and being successful high bidders, Ebay remains the only real time access to those items we want to own. Very rarely does a serious collection become available thru independent auction houses like your Heritage collection of 2008 or recently the Milestone collection. And in those auctions you are up against true connoisseurs that are willing to pay any price to get that one item. With respect to Ebay, you have all levels of collectors. Only when those “rare” items are listed do I see extravagant bidding. And collectors hope that not everyone trolls Ebay daily to grab an item at a bargain price. But guilty as charged… if I need to fill an opening in my collection, let’s say the E or B Clow Sanitary Co ticket; you bet there will be extravagant bidding. Yet that’s the fun in collecting things. Sure i’ve been outbid by the best and can only hope that the item will come up again in the future or patiently wait for those heirs of a collection return a once in a lifetime collection back to the general population. And if those heirs don’t know someone like you to help sell the bequeathed collection it ends up on Ebay.
Another comment regarding what pushes the over-valuation of collectables is condition. I also collect coins, stamps, currency. You referenced the grading of coins which standardizes the hobby. Same with stamps and currency. One can have the full set of Columbian stamps for under a thousand dollars used; but if you only want to collect mint unhinged perfect centering with jumbo margins get ready to take out a second mortgage!! Just look at the premium the standard admission tickets for the Worlds Fair demand that are graded by PMG. Yet again there are all kinds of collectors and beauty is in the eye of the beholder. What bidders on Ebay need to understand is the combination of scarcity and condition of the item. That either comes from self education and years of collecting and being informed (like your blog); or having a third party company grade the item and give it a score to level the playing field. I am in the midst of deciding to send my collection to PMG before I offer my collection up for sale. Will the expense of grading everything translate into selling the collection at a higher price?? Again I look forward to your upcoming publication on Columbian tickets to help all collectors recognize a deal or not.
CVA719
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