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Old 11-13-2007, 03:05 PM   #26 (permalink)
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I think the main trust issue with a GB like this would be in not knowing exactly came in the lot. The person that picked the cards up could easily not report what all he/she got from the seller.
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Old 11-13-2007, 03:06 PM   #27 (permalink)
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Thats funny, I had the same idea about getting an investment partner because it was pretty cheap still at around 5:30 est. After seeing this at only $10K late yesterday I was dialing the phone# of a guy I deal with to see if he wanted to go in with me on it. He would have no problem flying to the OC with me to pick it up in person. Once it got higher than $20K though I was done. At the ending price I wonder if it still has the potential to be a big money maker even if broken up right and sold in pieces ? Alot of the cards scanned after the first and second wave of scans were just junk autos and GU BUT there was some big money pieces that would get a big chunk of your intital investment back rather easily. Would love to have had the opportunity to go through that stuff and make an offer before it went to fleabay.
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Old 11-13-2007, 04:19 PM   #28 (permalink)
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WHO IS STILL INTERSTED IN THE GROUP BUY?????

Hello,

There may be a problem with the buyer. He said he checked his bank account yesterday and had enough money to pay all at once and then called me today and said because of the holiday yesterday the bank didnt show the correct amount until today. So he is 10k short and said he needs a month or two to get the rest. He sent me a 5k down payment but I told him I wasnt sure if I would offer it to another interested party. I had a offer to end it early for 35k but turned it down before the auction ended. I will accept any offers around that number. Thanks!
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Old 11-13-2007, 05:32 PM   #29 (permalink)
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Here is a thought about how to divy up the proceeds and to get enough money to make the deal.

Sell 50 "shares" at $700 each and you will get $35k. Each share represents 2%. So if I owned 1 share, I would get 2% of the profits plus the return of the investement (I'm ASSuming that the cards can be sold above the cost to purchase the card and any fees associated with selling them).

For example: after it was all said and done, all the cards sold totalled $35,100 (after fees and other costs). Each share holder would get their invesetment back plus $2 profit. If a person had 10 shares, they would get $10.

This would be true if you could not turn a profit. Lets say the net total was $34,900. Each shareholder would get back $698 instead of $700 because there was a loss.

If $700 is too much, you can cut the amount in half ($350) and sell 100 "shares". This creates a bigger pool of people that could afford to buy a share.

As for making sure the holder of the cards is honest, that's another issue.

I hope you can pull this off.
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Old 11-13-2007, 05:52 PM   #30 (permalink)
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Quote:
Originally Posted by Bulldog View Post

As for making sure the holder of the cards is honest, that's another issue.
if another board member in that area could make the trip to independently verify everything (inventory, transaction) - could possibly be a way to resolve this...video taping things, etc.

*Shrugs*
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Old 11-13-2007, 05:52 PM   #31 (permalink)
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Yea but whoever is in charge of the shares would have to be trusted. Is anybody willing to give $700 per share to somebody they don't know? If there is a way to do a contract heck id be willing to put in 15-20K. I could even realistically get together 25K. It is an intersting deal, the only problem would be driving to the seller and picking up the lot since I am in NJ. But it might be worth the $700 in shipping to do so. ROAD TRIP!

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Old 11-13-2007, 06:11 PM   #32 (permalink)
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If you were going to do this, I think your best bet would be to get 3 or 4 investors who were within a decent driving distance of each other to go in together for the load. Having 25 people spread out hundreds of miles apart will be a huge headache for the people(s) who are chosen to go and swing the deal then sort and sell. I think it would be much easier if you had 3 or 4 guys who were close enough to sort the load together so they could SEE exactly what it consisted of in person. That way they could agree on the best way to move at max profit and are close enough to get together should anything arise that needs a decision made. Just something to think about since it might be up for grabs again.
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Old 11-13-2007, 06:38 PM   #33 (permalink)
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Yea good point. Also the guy is in CA, so its is a 44 hour drive, so picking it up is out of the question. I know I could always borrow $10,000 from prosper.com but that would cost me $3,500 over 3 years of payments.
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Old 11-13-2007, 10:01 PM   #34 (permalink)
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New message from seller:

Yes I will allow pick up and I am 99% sure the buyer can not come up w/ the funds w/ in the next week. Please let me know what you are thinking. I may be re listing the lot with out some of the items tonight. Let me know asap. Thanks!
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Old 11-13-2007, 10:43 PM   #35 (permalink)
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jb77- did you win this auction?????
You know what It only went for 31 and some change. I really thought it was going to end up over 40. I totally spaced the end of the Auction. Something important popped up...."oh so conveniently"
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Old 11-13-2007, 10:47 PM   #36 (permalink)
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I think there might be a little underlying shadyness going on. I think the seller has a figure, around at THE VERY LEAST 35k. Who doesn't realize that 10k isn't their Bank account??????
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Old 11-13-2007, 11:35 PM   #37 (permalink)
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Default And this kinda funny too.....

Somebody has another auction that looks so much like the one that just ended. Same type of lay out Font, everything. It even says to refer to that very same auction.
http://cgi.ebay.com/CARD-SHOP-INVENT...QQcmdZViewItem
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Old 11-14-2007, 12:14 AM   #38 (permalink)
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I've been watching this auction and thread and something doesn't seem right. This is the second or third time this auction has been sold only to have a problem with the buyer. I don't know about you guys but I know exactly how much I have in my checking account. I surely wouldn't be confused to the point that I didn't know that I was $10,000.00 short. I will agree with BamBam that there shouldn't be more than 4 investors in something this expensive. Personally I would rather do it by myself or with 1 partner but since I am retired I certainly don't want to be tied down with having to sort and then list each card on ebay.
I think I see why the 15 case group buy of 2007 Bowman Chrome football didn't get off the ground it's a total mistrust of a large amount of money to 1 or 2 people to control. The 1 or 2 case break has a lot of fun factor for the investor and ripper but when you reach this kind of money it becomes serious instead of fun. O well it was a fun thought.
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Old 11-14-2007, 12:16 AM   #39 (permalink)
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<((((>< <((((>< <((((><
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Old 11-14-2007, 12:22 AM   #40 (permalink)
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Capt. B. is there something fishy?
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Old 11-14-2007, 12:31 AM   #41 (permalink)
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i can smell it all the way from here... like i told someone in PM's... if someone had invested upwards of 100k on all these cards - WHY OH WHY would you let it go for 1/3rd that?

ok - maybe he has money problems..ok ill give you that.. lets say he did have money problems and letting go of a collection he spent 100k on for 1/3rd the amt - reasonable decision if you are stuck in a bind.

BUT.. would any reasonable person - WHO HAS MONEY TROUBLES really balk at offers that approach 1/2 of what your investment is probably worth? hell no - a person in that spot would take the first legit offer and RUNNNNNNNNNNNNNNNNNNN. at least thats my thinking.

but no, this person has relisted over and over again citing buyer troubles.

REALLY? buyer can't come up with the cash? a buyer couldn't balance out 10k in his checking acct? REALLY?

someone who is "missing" 10k in his/her checkbook = RICH ENOUGH WHERE THEY CAN MISPLACE THE MONEY.

do not get me wrong, i'd love to see a group buy on this. i think it would be amazing and i personally would be jealous that i dont have enough money to get in on it. im only 6 hrs drive from OC and i would make the trip. plus i have a lot of big friends with guns (legally and illegally) so there wouldn't be any messing around.

but it just wreeeeeeeeks of something <((((><
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Old 11-14-2007, 10:05 AM   #42 (permalink)
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Guys in the future this is how we can do a group buy:

http://www.prosper.com/lend/listing....t=view_listing

I am doing this for a test run, I don't think I will get $25,000 but I wanna test the market and see how much I could get. I do have great credit, but guys this would be a great way to do a group buy. We could have 1-4 guys invest like $5,000 in the group buy and make an easy 10-12% whatever the pre-arranged deal is.

You guys have scared me to make this deal. Now I don't think I will do it.
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Old 11-14-2007, 10:14 AM   #43 (permalink)
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The seller never replied to me. Something was definately fishy here. No Deal.............
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Old 11-14-2007, 10:20 AM   #44 (permalink)
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Quote:
Originally Posted by j_b_77 View Post
The seller never replied to me. Something was definately fishy here. No Deal.............
Wow he always replies to me. He has replied back to me 4 times already. But how can this guy be shady? How would he be able to pull something like this off for 3-4 times?
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Old 11-14-2007, 11:35 AM   #45 (permalink)
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Quote:
Originally Posted by j_b_77 View Post
Somebody has another auction that looks so much like the one that just ended. Same type of lay out Font, everything. It even says to refer to that very same auction.
http://cgi.ebay.com/CARD-SHOP-INVENT...QQcmdZViewItem
Yea but this lot is not as nice as the one for $35,000. Here is a good question, is there a middle man you can employ from ebay. A place where you can pay them the money and then when you get the merchandise and sign off on it the seller would get paid.
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Old 11-14-2007, 11:38 AM   #46 (permalink)
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GUYS LOOK AT THIS!!!!!!

NOW DOES THIS LOOK FAMILIAR!

http://cgi.ebay.com/CARD-SHOP-INVENT...QQcmdZViewItem

As well he just denied me of using a escrow service to hold the money so know I am 99% sure I will not be buying this lot.

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Old 11-14-2007, 06:57 PM   #47 (permalink)
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He did reply to me. I'm done with this auction. To me it looks real fishy when an auction keeps going through to relist. The user ID's are kept private. He can shill it or whatever. If he doesn't like the ending price...........RUN IT THROUGH AGAIN!!!
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Old 11-14-2007, 08:40 PM   #48 (permalink)
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Yea I am pretty much done also unfortunetly. I am in NJ, so there would be no way I could pick up this lot, making it impossible to buy it. But J B 77....anyway you would still be intersted? I think this lot is really good even for $35,000 come on I know we could probably get $50,000 or more for re-sale. Let me know if you need a partner even though I am in NJ.

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Old 11-14-2007, 09:29 PM   #49 (permalink)
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I actually showed to a buddy of mine who came by. He got all jazzed up saying "When's your next day off?! Let's go check it out!" Which in turn got me jazzed up (again)because with his and somebody else we know's funding we could make this thing a Reality really quick. I don't know. If I do go look at this this weekend, I'll definately keep you guys posted.......
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Old 11-14-2007, 09:52 PM   #50 (permalink)
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I bet you don't hear from him again once you tell him you want to personally see the collection before buying.
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