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Re: Tonight's Auctions

By: De_Composed in 6TH POPE | Recommend this post (0)
Thu, 24 Oct 24 7:18 PM | 23 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 59778 of 60008
(This msg. is a reply to 59774 by micro)
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micro:

Re: “Are you guys just bidding on stuff that YOU are interested in having or do you maybe plan on trying to re-sell some of this stuff at a good profit?”That's a complicated question. Why does anyone buy things? We like some of them. We need some of them. We think some of them are a screaming deal. Sometimes a lot has a bunch of things in it and we only care about one of them.

What I can say is that we don't buy with the thought of selling them for a profit. I'm sure that much of our competition does that, but they probably own stores. Without an actual shop, selling to the public is exceedingly difficult. While I've met people who claim to be making money doing that, I would bet that they're putting in huge amounts of time that they aren't considering.

So I'm not buying to re-sell. But I am motivated by TEOTWAWKI to buy things that might be bartered. That's why I've bought sterling silverware, sterling trophy plates, silver dollars and sterling cups. If they never need to be bartered, they at least hold their value and my son can have them one day. And, btw, that sterling silverware I bought last year for $1,017 is worth $1,862 right now. Not a bad gain! I wish I'd bought a lot more.

At the auction where I bought the rug, I also bought a 4 panel painting (below). It's not practical. I'm not reselling it. But I like it and it's undoubtedly undervalued. The frame and mat alone, which are custom and 57½" x 21," run hundreds of dollars at a local craft store. How, then, do I pass on it for $11? I don't.

The rug, on the other hand, looks good and is totally practical. I was ready to pay $55 for it. It's just luck that it sold for less than that and is really high quality. I didn't know that when I bought it - but, fortunately, I'm not the only one out there who sometimes fails to do his homework.





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The above is a reply to the following message:
Re: Tonight's Auctions
By: micro in 6TH POPE
Thu, 24 Oct 24 4:24 PM 		Msg. 59774 of 60008

Nice area rug De!

Question.

Are you guys just bidding on stuff that YOU are interested in having or do you maybe plan on trying to re-sell some of this stuff at a good profit? I like the resale aspect of it especially if ya can make really large returns.

BUT, if it is all things you want or need and will utilize, then y'all are getting great prices on those things.

And you guys are having fun while doing it!
Nice job!


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