Using Hank Greenberg as an Example of the Problem with eBay

I buy a lot of product off eBay, It is hands down the easiest way to buy baseball cards. But you must watch what you are doing or you will be paying way too much for your cards. The easiest way for this to happen, as most of you probably already know, is to not include the shipping cost in the price you will pay for an item. That ’92 Donruss Factory set looks like a steal at $2.00 but when you see $75.00 shipping, are you really getting a bargain?

Another way is to not do your research. You impulse buy and regret it later when you see the card you purchased for $50.00 posted in the same grade a week later for $25.00. Every card or cards you look at should always include a look at previously sold listing for that card/cards. Also it is good to look elsewhere (the grading sites such as PSA/SMR) for the latest pricing on cards sold in the grade you’re buying at. Even a look through a Beckett magazine can give you an idea of a ballpark figure for the card.

But don’t let this discourage you from buying a card that looks, for all intents and purposes, overpriced, if you really want the card. In this case the research will have given you the info you needed and if you buy anyways, you won’t feel bad afterwards because you knew what you were doing.

Here is an example of what I mean:

1934 Goudey #62 Hank Greenberg SGC 30

1934 Goudey #62 Hank Greenberg SGC 30

This is a Hank Greenberg Rookie Card from the famous 1934 Goudey set. How much would you pay for this card? Its ranked GOOD by SGC (a 30) and is equivalent to a 2 rating from PSA. The card shows up on eBay frequently in different grades and without grading, but this is the first time in a long long time that a SGC 30/PSA 2 has been on eBay. Those that are looking for a lower priced Greenberg rookie would definitely be interested in this card.

So how much would you pay? Without any research, my first guess would be $150.00. That would be what I would be willing to pay for it. That’s my ceiling. A $100.00 price tag would move the range more within my comfort zone (over $100.00 for a card is a bit much for my budget). The listing for this card on eBay was a Buy It Now price of $259.00.

My guess, before research pegs this as overpriced. This is a dealer who is testing the waters with a high price just in case he can find some bites at that price. If no one buys, he may after a few months lower his price. But let’s see what the research tells us.

Looking in the latest Standard Catalog of Vintage Baseball Cards the listing shows a price of $275.00 for a VG grade of the card. Meaning a G grade would be around $100.00 to $125.00 as I guessed. Looking at PSA/SMR pricing a graded VG has been sold for an avg. of $150.00 and an PSA 2 grade $100.00. Looking at past sales of the card on ebay:

1934 Goudey #62 Hank Greenberg SGC 20

1934 Goudey #62 Hank Greenberg SGC 20

This SGC 20/PSA 1.5 F sold for $117.50 on eBay recently

1934 Goudey #62 Hank Greenberg PSA 3

1934 Goudey #62 Hank Greenberg PSA 3

This PSA 3 VG sold for $281.03 recently as well.

So logic dictates that if a Fair card sells for $117.50 and a VG card sells for $281.03, then a SGC 30/PSA 2 should be in the $150.00 range, not $259.00. The seller is trying to get a high price for this card. Although when it comes down to it a person can sell a card for whatever he wishes, and these sellers who consistently price their cards high can do so, calling it “testing the market” rather than “suckering an idiot or novice collector,” it doesn’t mean we need to buy their cards. There is no needed behavior to drive prices for cards upward as sellers will do this on their own, but there is a behavior that’s needed to get sellers to be reasonable with their pricing, that is, refuse to buy their cards at the prices they’re asking for them.

If I didn’t do my research, my gut saved me in this situation. It doesn’t always do that. I learned to be disciplined before buying cards because it has saved me hundreds of dollars. Even if you are rich enough to forgo a budget, do you really want to one of those guys who sellers look on as a great “mark”? Wasting money is stupid in all economic groups. So, I will pass on this card even though it is one of the cards I have been looking for to add to my Hall of Fame collection that I have been adding to lately. Let’s hope others do the same.

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