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The Current Situation of the Secondary Market


flyhighguys94

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I'm at the point where pretty much every jersey I sell is used to cover part or all of the cost of a jersey I am buying.  Therefore I can't really have jerseys sit on BIN or best offer for months.  I had a jersey where I had on BIN or best offer for 3 months with absolutely not 1 single offer in that time and switched it to auction with reserve to finally sell it.

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11 minutes ago, Devilsguy said:

I'm at the point where pretty much every jersey I sell is used to cover part or all of the cost of a jersey I am buying.  Therefore I can't really have jerseys sit on BIN or best offer for months.  I had a jersey where I had on BIN or best offer for 3 months with absolutely not 1 single offer in that time and switched it to auction with reserve to finally sell it.

That's usually my goal as well. I try to put as little "new money"in as possible. But the timing doesn't always work on that.

I use PayPal Credit and it's 6 months no payments and no interest to bridge the gap whenI don't think the one I want to buy will still be there by the time I sell what I need to sell. 

I've never needed more than six months (probably not even 2 months) to sell a jersey, so it's never been an issue.

I'll also sometimes sell jerseys I know I don't want anymore without a plan as to what I will buy when they sell. In that instance, it doesn't matter how long it takes, unless and until I find what I want to use the money for in the interim. 

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3 minutes ago, mfitz804 said:

That's usually my goal as well. I try to put as little "new money"in as possible. But the timing doesn't always work on that.

I use PayPal Credit and it's 6 months no payments and no interest to bridge the gap whenI don't think the one I want to buy will still be there by the time I sell what I need to sell. 

I've never needed more than six months (probably not even 2 months) to sell a jersey, so it's never been an issue.

I'll also sometimes sell jerseys I know I don't want anymore without a plan as to what I will buy when they sell. In that instance, it doesn't matter how long it takes, unless and until I find what I want to use the money for in the interim. 

I might have to look into the paypal credit thing for the future.  I take it when you sell a jersey later you can apply the funds right to the credit?  Or does paypal automatically apply it to it?

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You can apply it right from your PayPal account. They do not do it automatically.

The flaw in that is, when you apply it from your PayPal account, it takes them a little while to process it, and the funds don't come out of your account until you do. So if you apply your account balance to your Credit account, that money stays in your account until later that night. If you try to buy something else NOT using credit, it will pull the funds out of your account balance first, and your credit payment will be short. They will then pull the entire amount of your payment from your bank account.

You could, however, but the second item via PayPal credit without an issue. If it's under $99, you have to pay at the end of the month to avoid interest, just like a regular credit card. 

Now that transfers to my bank account only take a day, I just withdraw the balance (no fee) to my bank account, which takes the money out of your balance immediately, and then send it back to PayPal Credit when it hits my account. This keeps me from the issue described above and only delays payment by a day.

Had some tough financial times a couple years ago when we renovated the house, I was also able to make a couple purchases that I didn't have the cash for (I remember a $150 costume for my daughter's dance recital). I didn't have the $150 that week, but I knew I'd have it in a few weeks. I also knew if I didn't, I could just pay $25 a month for 6 months. In that instance, I paid it off in full by the one month mark. 

Ultimately, all PayPal Credit is is a credit card without the card. With the added bonus of no payments, no interest above $99. Ther have had special offers of 12 months on larger purchases also, but I forget the dollar amount. They haven't offered that in a couple years though. 

Warning: as with every "no payments no interest" deal, if you don't pay in full before the end of the promo period, you pay ALL of the interest on the entire purchase. But they have each payment clearly marked on the PayPal website to tell you exactly when the promo period expires. Pay before that date and you're all good. 

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  • 4 weeks later...
15 minutes ago, Dr_Puck said:

So our friends in Branchburg have dumped a few hundred pre-season jerseys onto the market. This is going to make moving lower-tier players even harder now on the secondary market. 

How is this any more difficult then when they had the $100/$150 sale on about 70 various NHL regular season jerseys? Most of those disappeared within a couple months... and those trying to flip the 8 David Legwands are still holding them.

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10 hours ago, Dr_Puck said:

So our friends in Branchburg have dumped a few hundred pre-season jerseys onto the market. This is going to make moving lower-tier players even harder now on the secondary market. 

Eh, at worst maybe a tiny bit.  Those jerseys are realistically worth only about $100 anyways.  I see a lot of stuff on the FB groups that are listed in the $200-350 range by private collectors that really should be in the $100-200 range that just sits there for months.  I feel like I see the same 50-100 jerseys all the time in those groups and they are all overpriced hence why they sit.

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32 minutes ago, Dr_Puck said:

I agree Devilsguy, there's a lot of way overpriced stuff. It's the same group of traders on Facebook over and over. I do think, though, that this will force some of these jerseys down even further in secondary sale price. I have some that just aren't moving that I've cut the price on a bit and may have to again. 

Yeah it is about time some of those piles of Bridgeport Sound Tigers jerseys of scrubs I see all over the FB groups finally move after the sellers realize they are not worth in the $250-350 range.

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53 minutes ago, Dr_Puck said:

While we are at it, can we please get rid of the equipment, pucks and bobble heads from the jersey groups? (Sorry for going off topic.)

Thank you.  I really want to say this sometimes, but I know I will be destroyed on there.

Also wish the group was split into 2: One for NHL only and the other for Minors and juniors.

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There are too many groups in general. There are multiple general game worn groups, plus multiple specialty groups. It's impossible to keep up with them all, and people post the same thing in 6 different places and clog up news feeds and notifications. It's annoying, and I'm over it. I turned off my facebook last week and I don't miss it one bit.

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I don't even bother looking at them seriously. They're a joke. In fact, I love when two people start arguing...that cracks me up because people get so upset over the dumbest things on those Facebook groups. I don't think I've ever had one successful buying or selling experience on there.

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18 minutes ago, flyhighguys94 said:

I don't even bother looking at them seriously. They're a joke. In fact, I love when two people start arguing...that cracks me up because people get so upset over the dumbest things on those Facebook groups. I don't think I've ever had one successful buying or selling experience on there.

We have done a few deals 

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I can go the rest of my life without hearing about how incredible someone thinks a Jon Scott Rangers Heritage jersey is.

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45 minutes ago, Dr_Puck said:

I will admit, Facebook has been really good for finding jerseys. If you can just sort through the carp and the pettiness... That said, I am a chronic blocker. Ha, that must explain why I can't sell anything... I've blocked a big part of that market. 

76F0ED55-B4D7-4611-8CC7-4FF87810E5E2_zps

Now that's a non-petty carp!

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4 minutes ago, furiousd said:

This must be about groups other than NOT Game Worn.  That's the only one I belong to, and it's boring.  Unless you like poorly customized replicas.

+1

 

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1 hour ago, thebiggoalie said:

I can go the rest of my life without hearing about how incredible someone thinks a Jon Scott Rangers Heritage jersey is.

hahahahahahahaha.

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56 minutes ago, furiousd said:

This must be about groups other than NOT Game Worn.  That's the only one I belong to, and it's boring.  Unless you like poorly customized replicas.

Correct.  I am part of NOT Game Worn and that one is pretty quiet.  It is also full of people who think their poorly customized replica they bought for $190 retail is worth $175 on the secondary market.

Most of the drama are in the big three game worn jersey groups, with the big one in particular.

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1 hour ago, Dr_Puck said:

I will admit, Facebook has been really good for finding jerseys. If you can just sort through the crap and the pettiness... That said, I am a chronic blocker. Ha, that must explain why I can't sell anything... I've blocked a big part of that market. 

For me it is OK.  The deals I have made with people on there were for jerseys they were not actively displaying or had for sale on the group.  Instead it was all behind the scenes dealing.  Most of the stuff listed is crap and from the same dozen teams.

Best part is the justification some people have for their prices.  Sorry but a photo match is nice and adds value, but it doesn't turn a $300 jersey into a $550-600 jersey.  Also that Ducks Ward jersey is nice, but it is not worth a $525 BIN price because he was wearing it in the same game as Selanne scored his 600th NHL goal.  Oh and that Byron's Hockeyland LOA you might as well tell me you don't have an LOA (I'll quickly add that it doesn't mean the jersey is no good, but it adds zero value).

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One of the most annoying things about those FB groups is certain people filling up the pages with numerous jerseys and keep updating those posts every other day.

What also bothered me was this: a collector who buys EVERY jersey of a certain player. No problem, but: when a major jersey seller announced on FB that he had jerseys from that player for sale, I immediately mailed him that I would take one of the jerseys. One hour after my mail, the collector replied on the FB that he would take both jerseys....and you guessed it, no jersey for me. The seller said that the collector already phoned him before my mail....I found that hard to believe, but that could be me.

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Well guys... I WAS moderating that NOT Game Worn group until I turned off my Facebook page, and I have to admit, it is a lot of poorly customized replicas, but I was very strict about fakes. I can't help if people post legitimate, yet still crappy jerseys. And hey, some of those guys sell their stuff to other people who like legitimate, yet still crappy jerseys. That's not for us, and that's okay. But myself and a decent number of other people also post some good authentic stuff in that group, and I think it's a good resource for people not just looking to buy and sell, but to also learn and get advice, without coming on this forum, which isn't for everybody. Unfortunately, we can't have it all, and have to take some bad with the good. There's no such thing as a perfect group where everybody gets along and doesn't post redundant overpriced crap.

Edited by CJ Matthews
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42 minutes ago, CJ Matthews said:

Well guys... I WAS moderating that NOT Game Worn group until I turned off my Facebook page, and I have to admit, it is a lot of poorly customized replicas, but I was very strict about fakes. I can't help if people post legitimate, yet still crappy jerseys. And hey, some of those guys sell their stuff to other people who like legitimate, yet still crappy jerseys. That's not for us, and that's okay. But myself and a decent number of other people also post some good authentic stuff in that group, and I think it's a good resource for people not just looking to buy and sell, but to also learn and get advice, without coming on this forum, which isn't for everybody. Unfortunately, we can't have it all, and have to take some bad with the good. There's no such thing as a perfect group where everybody gets along and doesn't post redundant overpriced crap.

I rarely saw fakes on there and whenever I did, it was usually deleted pretty quickly.

My issue with all of these FB groups are two things:

1) Everybody overvalues their own stuff while severely undervaluing another person's stuff.  The concept of having a fair deal is gone and everyone is trying to bend another person over in a deal they make.  This causes about 75% of all arguments in these groups

2) These groups offer little to nothing in terms of educational or informative discussion.  Instead these groups are basically giant flea markets with the occasional discussion peppered in there, but often many of these are just someone complaining about something.  Rarely do I see a posts like why some jerseys by a team in a certain year are this way and some jerseys are that way.  I do see some of this in the team-specific jersey groups, but even then it is rare.  Seems like a lot of this "in the know" like to keep their knowledge about jerseys to themselves as it seems like they believe this gives them a competitive advantage when it comes to hunting down or obtaining jerseys.  Yet these are also the people who will wax poetically about how the hobby is a community rather than a psuedo drug addiction or how we should educate each other when in reality that rarely happens.

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