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The Time Has Come...


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#1 OFFLINE   BattMan

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Posted 06 January 2020 - 08:24 AM

Good morning, Ladies and Gents.  I hope this post finds everyone doing well in the New Year!

Unfortunately for me, I've come to the decision to sell 95% of my collection with only keeping a handful of pieces that carry sentimental values (but even those may be bought at the right price :smile: ).  Due to falling very ill in early 2016, I wasn't expected to make it, but thank God I'm still here!  The last 3.75 years have been extremely difficult to say the least and I've had to make tough, financial decisions in order to remove stress, costs, and responsibilities from my life to allow me to stay afloat (e.g. sell my home and other investment properties, 1:1 vehicles, etc.).  With over $750K in medical billing (thank God for insurance...sort of  :rolleyes: ) and not being able to work full-time (or knowing if I ever could again), I've had to use all of my life savings to make ends meet and pay my medical bills.  Well, I was blessed enough to be reinstated full-time with my employer last month :yahoo:, but trying to rebuild 20+ yrs. of loss is tough...especially when I'm not 100%.  Therefore, since I'm now well enough to move about, it's time to start selling off my collection that's been in storage since late 2016 to reimburse my Savings and put myself to buy another home within the year.

So I have a couple questions for you all to gain your opinion.  I'm a 1:18 collector and have (if I recall) about 450-500 examples.  I would say 90% or so are MIB.  I'm looking at two selling methods: Local and eBay.  For the local method, I'd like to gauge the amount of local collectors within the DMV (DC, Maryland, Virginia) that would be interested in meeting in person to browse and buy items from my collection in which I'd set up a display within one of my storage garages and schedule viewing appointments.  This is ideal for me because it eliminates the shipping hassles.  However, it doesn't provide the exposure like that of eBay (keep in mind I need to maximize my $$$).  So should I look into the two methods or focus on eBay only?

The other angle I want to throw at you all is the thought of generating additional income on top of sales.  I was thinking since I have so many items that are MIB, that's I'd start a YouTube channel focused on weekly content of unboxing a car or two prior to selling.  While this seems harmless and a good way to double down, my question is: "Do you think it's worth it at the [potential] cost of devaluing examples that are NRFB?"

Any and all comments, suggestions, and opinions are welcome!  Thanks in advance!

Everyday I imagine where I'd be financially if not for this hobby... Posted Image Posted Image


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#2 ONLINE   StratosWRC

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Posted 06 January 2020 - 08:56 AM

First off, sorry to hear about your troubles and it's good to hear you're doing better.

As for the sales, and speaking from experience, local people will be looking for a deal and discounts when purchasing multiple models. For that reason, ebay is best. I wouldn't start auctions from $1 though and I wouldn't use a best offer or reserve if using the auction format. Best offer attracts cheapskates and reserves dissuade bidders. So put either a starting bid which you're happy with, or just 'buy it now'. The good thing about the auction format is that if someone sees the item has a bid, they're more motivated to bid on it to not let it get away = higher price.

To gain exposure, you can advertise on Diecast Arena on Facebook, make a page on Instagram and make daily posts with lots of hashtags (you can use up to 30), to maximize exposure. Provide links to auctions obviously and start the auctions in the evening, when people are at home. A lot of people don't submit maximum bids and prefer to last-second snipe instead, and often lose an auction because it ends while they're at work. Good luck!
I mod stuff

Wes

#3 OFFLINE   T1000

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Posted 06 January 2020 - 09:31 AM

Sorry to hear about all of your troubles. It sounds like it was quite the challenge. Happy to hear that you're now starting to rebuild :occasion14:
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#4 OFFLINE   snackwel5

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Posted 06 January 2020 - 10:48 AM

I'm sorry to hear about your health problems. It's a scary thought on how something like that can happen so quickly and without warning too. It's a good thing though, that you're able to be back to work full time and rebuild your empire.

In regards to selling your collection, that is definitely a nice bonus of this hobby. There is a lot of residual value, if not profit to be made. I would definitely suggest taking advantage of all aspects of advertising. Ebay, Craigslist, here on DX in the classified section, on Instagram and Facebook groups as Stratos mentioned above. The biggest downside to eBay is of course the fees from both them and paypal. The combined 2 takes 15%, so it's definitely an expense to remember when looking at your bottom line of sales. With that being said, though, it certainly gives you the most exposure. You can reach a global audience of collectors.



Nick

Edited by Craig, 06 January 2020 - 10:59 AM.
- asking to buy removed.

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#5 OFFLINE   Craig

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Posted 06 January 2020 - 11:10 AM

Very sorry to hear that Battman, that sucks! Glad you're getting better though.


I'd go with Ebay, or craigslist etc. Unfortunately you won't we able to sell on here.



Ps, guys, please don't ask for a list of models etc. We don't do trading that way on here.

F**k you Photobucket.



Please feel free to check out my 1/18 collection HERE


#6 OFFLINE   jazzy426

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Posted 08 January 2020 - 09:39 AM

Very sorry to hear about your misfortune mate. But very glad to see you made it out and still here with us. Personally i can somewhat relate to your back story as I have some underlying health issues myself as well and one mishap with my health or work i could have easily be in the similar situation. And with mortgage and young kids to raise things can go pear shape easily if i am not cautious.

For selling, personally i find that desperate fire sale will yield bad return so definitely take it slow and not to rush it. Local classifieds are good in a sense that you deal direct with buyers and save the hassle from careful packaging, eBay/PayPal fee and what not, and not to mention all kind of item not as described or item not received scams pulled by shonky buyers you often hear. However the downside with local classifieds especially in my personal experience is, that tends to draw lowballers or vultures so that does require a lot of patience and endurance to put up with these mobs. Eventually you will meet the right buyer but do bear in mind this may takes months or even up to a year.

Obviously big online platform such as eBay gives u better exposure to wider audience. Buy now with sensible price tag should attracts genuine collectors who are looking to fill gap or their own holy grail. To get more attention perhaps auction starting with the minimum amount you would part your item for (experiment it with just one or two of your lesser models first) and see how that goes. Obviously certain not so desirable models may never attract just very few bids so be wary of that as well. Hopefully the buyers from your country have stronger appetite for good high quality models so you can get decent offers. Personally I find it a bit hard to sell for good price nowadays in Australia probably due to less collectors with a lot of disposable income. I auctioned off a Kyosho F40 lightweight about half a year ago on eBay hoping that i would fetch at least $300 or more (based on another recently sold F40 in the same specs and condition) but it ended up for just $270.

And i only got $300 for CMC Irish green Porsche 901 2 years ago because no one was interested at my offer of $400 with best offer option. And now it seems that a few of them are being sold for $400 or more. Talk about bad timing :bawling:

#7 OFFLINE   BattMan

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Posted 11 January 2020 - 01:08 PM

Thank you all for your heartfelt regards for my health...it truly is appreciated and encouraging. :occasion14:

All of your suggestions and insight will really help me as I begin to put into action the liquidation process.  It was great to receive different angles on what to expect on each potential route. Thank you!

I'll keep you all posted on how things go.  I know for a fact that once I see and put my hands on my collection for the first time in years, it's going to be an extremely difficult task to let them go. :gaah:

Everyday I imagine where I'd be financially if not for this hobby... Posted Image Posted Image


#8 OFFLINE   MXV

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Posted 12 January 2020 - 05:51 PM

At least inform us of your eBay account name so we can look your sales up and help you sell some.

Glad you're doing better and have a great second-chance at life.




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