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Old 07-06-2014, 09:21 PM   #1 (permalink)
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Default My COMC Experience

Yesterday I sold my remaining COMC stock as a port. I need to take a break from the amount of time that I have been putting into sportscards and especially COMC.

I was one of the early sellers on COMC. I joined in August 2008 after meeting Tim Getsch at the National. By late in 2008 I had learned about flipping and I was absolutely hooked. Over the next few years I grew my port from a small initial investment and modest submission of my own cards into a pretty sizeable port that once peaked at $70K of Book Value. In the early days I was #1 in cards purchased on the site. In 2011 the port was getting stale and storage fees were pushing $70 per month so I sold it off. A week later I bought a small port and made about $400 flipping in a month and sold that port. By then end of 2011 I had began to start selling again. Since then the flipping has been getting more difficult and time consuming. For you statistical geeks here are the results by year of my flipping:
2008 - 486 cards for $323
2009 - 7,431 cards for $3,454
2010 - 2,918 cards for $2,509
2011 - 12,786 cards for $1,502
2012 - 1,052 cards for $462
2013 - 646 cards for $552
2014 through July 4th - 1,207 cards for $513
July 5 Port Sale - 1,309 for $147 loss
Grand Total - 27,835 cards flipped for $9,158
I have never been good at prospecting so these flips are primarily vintage, short prints, refractors, autographs and the like.

I have no hard feelings against COMC. Right now it is time for me to concentrate elsewhere. I may be back someday. Until then thanks for all of the sales and for the deals on all the cards that I have purchased.
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Old 07-06-2014, 11:43 PM   #2 (permalink)
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Nice stats!
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COMC : prices so low i need to raise them .
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Old 07-07-2014, 10:27 AM   #3 (permalink)
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I'm almost burned out with comc. Feel like there's more to life. Going to send in a submission which might be my final one and from there I might consider selling out. I know how you feel. Sites not as fun as it used to be
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Old 07-07-2014, 10:32 AM   #4 (permalink)
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Nice write up. I find it scary that people are getting burned out from the site that was supposed to do everything for you.

I have sent COMC 0 cards.
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Old 07-07-2014, 10:34 AM   #5 (permalink)
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Nice write up. I find it scary that people are getting burned out from the site that was supposed to do everything for you.

I have sent COMC 0 cards.
I think it is the guys trying to flip. I send my cards in, when they sell I get money. I do nothing else.
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Old 07-07-2014, 10:36 AM   #6 (permalink)
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I'm almost burned out with comc. Feel like there's more to life. Going to send in a submission which might be my final one and from there I might consider selling out. I know how you feel. Sites not as fun as it used to be
Know that feeling, i have one more 700 card submission sitting in my closet for 3 months now. I used to rush to get batches sent so they could be posted 4 weeks later. now i feel no urgency to send in cards as users have no time frame of the submissions being processed.
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COMC : Make offers on Higher Priced Cards Thru PM, Price will be adjusted accordingly .[/B]!
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Old 07-07-2014, 10:39 AM   #7 (permalink)
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I'm almost burned out with comc. Feel like there's more to life.
See, I use COMC precicely because there's more to life than the minutiae of selling cards.

The site is built for buyers and sellers. Flipping, while a nice side effect for some, wasn't and isn't the main purpose.
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Old 07-07-2014, 02:26 PM   #8 (permalink)
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There was a period of time around 2011-2012 where flipping was really profitable. In an hour of browsing, I could easily pick up 50+ cards that I could ultimately flip for a solid profit. Never did the math, but I'd guess something like $20-$30 an hour.

Nowadays, the market has largely self-corrected, and flipping is very tough. Even during site-wide sales, I will spend hours browsing and barely find anything. Also, with decreasing overall sales, it's much riskier now to pick up cards to flip.

I've largely given up flipping. I bought 32 cards last month (compared to 535 in June of 2012). I still periodically send stuff in though, and I don't mind managing all the cards I already have on there.
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Old 07-07-2014, 02:41 PM   #9 (permalink)
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i think TIM designed the site for flipping easier. I thought i read or heard him saying something like= would it be cool to be able to buy a card and have for sale faster instead waiting for the card to arrive from ebay.. something like that.

x5, bloody day on wallstreet. ouch
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COMC : prices so low i need to raise them .
COMC : Make offers on Higher Priced Cards Thru PM, Price will be adjusted accordingly .[/B]!
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Old 07-07-2014, 06:33 PM   #10 (permalink)
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Quote:
Originally Posted by mrwalken View Post
There was a period of time around 2011-2012 where flipping was really profitable. In an hour of browsing, I could easily pick up 50+ cards that I could ultimately flip for a solid profit. Never did the math, but I'd guess something like $20-$30 an hour.

Nowadays, the market has largely self-corrected, and flipping is very tough. Even during site-wide sales, I will spend hours browsing and barely find anything. Also, with decreasing overall sales, it's much riskier now to pick up cards to flip.

I've largely given up flipping. I bought 32 cards last month (compared to 535 in June of 2012). I still periodically send stuff in though, and I don't mind managing all the cards I already have on there.
Very well stated. There has been a market correction and the elimination of Book Values makes flipping even more difficult in my opinion. I am stating that it is not worth it to me personally to spend so much time on COMC. I am sure there remains many flip opportunities on COMC if you know what you are doing.

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Nice write up. I find it scary that people are getting burned out from the site that was supposed to do everything for you.

I have sent COMC 0 cards.
Selling cards on COMC is definitely a let them do everything approach. I loved that service and sold many cards. I am personally burnt out with the amount of time that I was spending on the site. I am not trying to poison the water for anybody. I thought I would share past successes and compare them with today's results.

Another statistic for everyone. In 2011 I was turning over 6% of my port each month with the vast majority of those being flipped cards. My peak month was around $1,600 in sales and that included no promotions! In the past couple of years I would say my sales ranged 3-4% without promotions.
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Concentrating on my personal collection. Please drop me a PM if you have any of the following for sale: Topps Football 1956-1959; 1961-1968; Philadelphia Football 1964-1967, Autographs of Baseball/Football Vintage Stars and Hall of Famers (especially on card autos), 1990's Topps Chrome Refractor Inserts of all sports.

Last edited by 37Jetson; 07-07-2014 at 06:39 PM.
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Old 07-08-2014, 11:10 AM   #11 (permalink)
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i think TIM designed the site for flipping easier. I thought i read or heard him saying something like= would it be cool to be able to buy a card and have for sale faster instead waiting for the card to arrive from ebay.. something like that.
But ultimately flippers will run out of cards to flip and it will just be a race to get to the new additions. At that point, long term survival for COMC really comes down to sellers who add cards and buyers who remove them.


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x5, bloody day on wallstreet. ouch
That's what SQQQ calls are for.
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Old 07-08-2014, 11:20 AM   #12 (permalink)
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But ultimately flippers will run out of cards to flip and it will just be a race to get to the new additions. At that point, long term survival for COMC really comes down to sellers who add cards and buyers who remove them.



That's what SQQQ calls are for.
I am on the sidelines right now. dumped twtr asap on open.

Its comc trade day today.
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COMC : prices so low i need to raise them .
COMC : Make offers on Higher Priced Cards Thru PM, Price will be adjusted accordingly .[/B]!
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Old 07-08-2014, 04:08 PM   #13 (permalink)
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Quote:
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But ultimately flippers will run out of cards to flip and it will just be a race to get to the new additions. At that point, long term survival for COMC really comes down to sellers who add cards and buyers who remove them.
Very true, my motivation for flipping was expanding my Personal Collection or localizing my inventory when I was selling at local card shows. I don't think flippers will run out of cards because there is a lot of junk on COMC that just moves from one seller to another in flips, port sales, etc.

I have done my fair share in removing cards from COMC. I purchased or took back 1,600 cards since May 1st. I have fished the COMC Lake Dry for what I am interested in at the price I am willing to pay so it will be awhile before I consider buying more cards on COMC.
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Concentrating on my personal collection. Please drop me a PM if you have any of the following for sale: Topps Football 1956-1959; 1961-1968; Philadelphia Football 1964-1967, Autographs of Baseball/Football Vintage Stars and Hall of Famers (especially on card autos), 1990's Topps Chrome Refractor Inserts of all sports.
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