Sunday, September 6, 2009

What's It Really Worth- Book Value , Could I Be Wrong?

Recently, a Freedom Cardboard member and eBay seller schocholate, sold off a very impressive patch collection. He and I have similar player collection interests as his items included several Ripken, Ryan and Sandberg pieces. Unfortunately my current financial situatioon didn't allow me to pick up an of these gems. With the state of the economy, it's not exactly a seller's market, but let's see how he did compared to "Book Value".

Book Value: $50-$100
Real Value: $53

Book Value: $50-$100
Real Value: $33.25

Book Value: $40-80
Real Value: $50.95

Book Value: $125-200
Real Value: $133.51

Book Value: $40-80
Real Value: $46.01

Oh God what is happening? Is this just a sick coincidence? Every card but one is within the stated "Book Value" range? Does Book Value not suck? Is it a legitimate pricing measure again? My whole world has just been turned upside down.


thehamiltonian said...

I've found it fits in the range (usually on the low end for an eBay purchase) when I add up my total cost (I include shipping) more often than not.

I record the price I pay for all of my cards, along with BV for my own records.

Its fun to point out a card that has a high BV of $100 and sold for $50, while ignoring the fact that low BV is $40.

Its a tool, not a bible. One of many I use at various times in this hobby.

Carl Crawford Cards said...

My beef with BV is that high book value is around 100% of low book value. In the off line world I've never seen anyone use low book value for anything but off-grade cards, as in "The Maris RC books for $800 (high book), but this copy here has been sent through the dishwasher, so I'll give it to you for half of book ($400, or low book value)." (I have no idea what the Maris books for, that's just an example)

And think about it: +/- 50 isn't much of an indicator. That these low numbered cards sold for "low book value" only proves how ridiculous "high book value" can be.

I posted a while back about how book is useful in same cases (in hand, high grade vintage), but this is another case where it's, well....still insane.

Shaun said...

The problem when comparing BV to eBay is the pesky shipping costs. Sure you pay two bucks for a jersey card listed at 5-8, but throw in 3 bucks shipping and you are right in range. Beckett even openly states they they include eBay shipping costs in determining the values.

If more people also started to use the given range instead of using just the high value, the world would be a more peaceful place. :)

stusigpi said...

No you aren't wrong. Even a blind pig finds a truffle eventually. Actually they use smell to find truffles but whatever.

Anyway, those are very rare cards of Hofers and they barely eeked out low book. I figure S and H into my purchases as well and I find that rarely if ever do they reach anything close to BV. Look at the ranges on those cards $40-$80. A nice Ripken patch. Those never sell for $5-$20. My point is put a big enough range on those cards and you can't help but hit it. I have hundreds of cards that I paid 10-15% even low book for with shipping. Demand is the determining factor of whether they hit the BV target. If that makes any sense.

Rob- AKA "VOTC" said...

stusigpi . . .did you just call me a pig? :)

Shaun said...

The demand of a particular card cannot always be based upon eBay sales. With fake autos and patches going around, how can eBay sales be used as an accurate determination of a card's value if collectors who are interested in buying the card aren't willing to take the risk? You also have to remember that eBay really inflates the value of singles. If I want to pick up a particular Kevin Dineen card on eBay, I have to pay a dollar on average plus a couple bucks shipping. That's 3-4 bucks for a card with a book value of 1-5 cents.

Dave said...

Good post. My friend and I were having this exact same discussion yesterday.

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