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trueblue2735

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Scary part is that there is someone out there who thinks that is worth $650.

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Scary part is that there is someone out there who thinks that is worth $650.

Not THIS argument again...

:)

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Not THIS argument again...

:)

I know it's for charity, but if the people were really spending out of the goodness of their heart they would just write a check for the amount they want to pay.

They are bidding for the jersey, not the charity.

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I know it's for charity, but if the people were really spending out of the goodness of their heart they would just write a check for the amount they want to pay.

They are bidding for the jersey, not the charity.

Nope, they're doing both. People will spend more on a charitable donation when they are getting a prize than when they aren't. Its the whole reason charity auctions exist.

What it's worth doesn't figure into the equation in that situation.

Edited by mfitz804
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Nope, they're doing both. People will spend more on a charitable donation when they are getting a prize than when they aren't. Its the whole reason charity auctions exist.

What it's worth doesn't figure into the equation in that situation.

So they are spending more to get the prize then? Charity auctions have been around forever, but let's not pretend people are spending just because they are good people. They want that item and they want it for that $.

Again if the people truly cared about the charity, they would just write a check out and make a private donation. If you asked the 2nd highest bidder if they are willing to make a donation for that amount without the prize,99 times out of 100 the person wouldn't do it.

These people want the jersey. I doubt most of them read or care about the charity part.

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The entire reason charity auctions exist is to get people who wouldn't otherwise donate to do so by providing them an incentive. If your theory were correct, nobody would bid more than the jersey is worth because all they care about is the jersey.

Yet, there are hundreds of examples of people bidding way beyond a jersey's value in charity auctions.

It's a near guarantee that nobody thinks that jersey is "worth" $650.

And part of it is just the auction process itself, which encourages higher prices by making buyers compete against each other.

Edited by mfitz804
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Or because you are exposing the jersey to people who never knew about the game worn hobby and believe that these things are worth much more than their value because they base their value on how much NHL sells jerseys at retail prices. These people think that since NHL shop sells those indo edges for $300+ that these must be worth thousands.

Again most people bidding on charity auctions are not collectors as they know better.

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It's not even unique to jerseys, this happens in all kinds of charity auctions.

http://appadvice.com/appnn/2013/11/jony-ive-and-marc-newsons-red-charity-auction-exceeds-expectations

So is it just that the majority of people who bid in charity auctions just have a ton of money and no idea what things are worth?

Not to mention the old adage, something is worth what someone is willing to pay. Right now that jersey is worth $650.

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It's not even unique to jerseys, this happens in all kinds of charity auctions.

http://appadvice.com/appnn/2013/11/jony-ive-and-marc-newsons-red-charity-auction-exceeds-expectations

So is it just that the majority of people who bid in charity auctions just have a ton of money and no idea what things are worth?

Not to mention the old adage, something is worth what someone is willing to pay. Right now that jersey is worth $650.

Yes it is in a lot of cases. This is why you have millionaires bidding on pieces of art who are not art experts or collectors or pieces of memorabilia/ history that they are not experts in either. It's conspicuous consumption for these people and if they truly were charitable they would just write checks to the foundations and not have to include a prize to get them to empty their wallets.

Also tell that adage that to the guy who buys it at $650 and then tries to sell it later on down the line how much it's worth. He will be in for a rude awakening. Just because someone overpaid doesn't mean it's worth that overpaid price (no matter how much sellers try to use it as leverage to get you to overpay). I mean there are entire threads on here talking about how much people have overpaid for jerseys that are worth less than they sold for. Why is that not the case now?

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It's a warm up jersey, I don't know how collectable Cogliano is, is it worth $650,probably not but someone is willing to pay that for it

And we do like we have done so many times on this forum and say that it's not worth that much instead of saying "well it's worth what someone is paying for it."

These auctions bring it out the extremes because the people bidding don't have much or any clue as to what they are bidding on.

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These auctions bring it out the extremes because the people bidding don't have much or any clue as to what they are bidding on.

You're assuming that everyone who bids on these things is dumber than a collector. The fact that people spend more when it's for charity AND when it's an auction are proven facts.

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You're assuming that everyone who bids on these things is dumber than a collector. The fact that people spend more when it's for charity AND when it's an auction are proven facts.

I can post links of countless auctions of where items were sold at auction for more than what they were estimated at that wasn't for charity. These happen because either 1) you have at least 2 bidders who are going to the extreme to get it or 2) the people bidding have no clue as to what they are getting into.

And yes non-jersey collectors can be dumb. Why else would these people often value a knockoff with a poor (but real) autograph over a game worn jersey of the same player? I've seen that happen countless times.

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I can post links of countless auctions of where items were sold at auction for more than what they were estimated at that wasn't for charity. These happen because either 1) you have at least 2 bidders who are going to the extreme to get it or 2) the people bidding have no clue as to what they are getting into.

And yes non-jersey collectors can be dumb. Why else would these people often value a knockoff with a poor (but real) autograph over a game worn jersey of the same player? I've seen that happen countless times.

1) Of course you can, that's part of my argument!

2) Because some people collect autographs and some people collect game worn jerseys. I could ask you why you don't collect fabrege eggs instead of game worn jerseys, because they are more valuable. But you don't want those. There's an entire market of people who collect autographs regardless of what they are on.

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1) Of course you can, that's part of my argument!

2) Because some people collect autographs and some people collect game worn jerseys. I could ask you why you don't collect fabrege eggs instead of game worn jerseys, because they are more valuable. But you don't want those. There's an entire market of people who collect autographs regardless of what they are on.

1) you are mentioning charity auctions people overpay. I'm saying people overpay at auctions regardless if they are for charity. It makes my point that the people bidding on these jerseys probably don't know or care if it is for charity.

2) and I don't bid on faberge eggs because I have no clue as to what is a good price or not. I could ask but I still would for the most part be guessing if I paid a good price.

Also, what if I paid $20,000 for an egg that is worth $10,000? Does that mean all faberge eggs or even that one is now worth $20,000? You can't use extremes or items won in auction by clueless bidders to determine value. Same goes if I buy it for $5,000. Doesn't mean it's worth that low.

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Super points for dropping 'conspicuous consumption.' We need more Thorstein Veblen here.

Haha well what else do you expect from someone with a BA in history?

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1) you are mentioning charity auctions people overpay. I'm saying people overpay at auctions regardless if they are for charity. It makes my point that the people bidding on these jerseys probably don't know or care if it is for charity.

2) and I don't bid on faberge eggs because I have no clue as to what is a good price or not. I could ask but I still would for the most part be guessing if I paid a good price.

Also, what if I paid $20,000 for an egg that is worth $10,000? Does that mean all faberge eggs or even that one is now worth $20,000? You can't use extremes or items won in auction by clueless bidders to determine value. Same goes if I buy it for $5,000. Doesn't mean it's worth that low.

1) that was part of my argument. I'm happy we agree!

2) My scenario isn't based on a single sale. This happens every time these special event type jerseys are sold. We've had this argument two other times based on two other sets of auctions. So no, if you pay $20,000 for what you find out later is a $10,000 egg, no, that doesn't mean it's now worth $20,000 to everyone. But, if every month they auction off 10 of these eggs, and every month they all sell for $20,000 each, you don't think that $10,000 price needs to be adjusted?

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1) that was part of my argument. I'm happy we agree!

2) My scenario isn't based on a single sale. This happens every time these special event type jerseys are sold. We've had this argument two other times based on two other sets of auctions. So no, if you pay $20,000 for what you find out later is a $10,000 egg, no, that doesn't mean it's now worth $20,000 to everyone. But, if every month they auction off 10 of these eggs, and every month they all sell for $20,000 each, you don't think that $10,000 price needs to be adjusted?

1) that's why I avoid these auctions lol.

2) thing is these jerseys are hard to predict. The brodeur retirement night lot collectively the warmups went for $5,000 more than the first period one. How does warmups get more than jerseys worn in a game (I know they did the every player #30 gimmick but that's silly)? It's because a lot of people bidding on these are clueless.

The only rule seems to be the more ridiculous or silly the jersey the more the masses will overpay for it.

Edited by Devilsguy
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