Over the past few years the Internet has slowly become one of the best ways to buy sportscards. Buy/Sell boards are popping up everywhere as more web providers offer bulletin board services for minimal costs. While the boards can be fun (and competitive for the sellers), the real action is in the auctions. I've spent some time this week looking at the auction sites and I must admit that it can be addictive.
While online auctions are nothing new, the size and excitement has grown recently with more refined software allowing for bidding right down to the last second. I remember getting email auctions years ago where you would have to put in your final bid about two hours before the closing time and hope the email arrived before the deadline. Not so anymore as many bids come right down to the final second, with anxious bidders hitting reload and praying that their bid will hold.
Ebay
The place to go for the hottest action (that I saw this week) is Ebay. You can find just about anything on Ebay. While I was watching sportscards come and go, my friends were bidding on Beanie Babies and musical instruments. One thing was certain and that was that we were all having too much fun. I spent most of my time watching Chrome Basketball rookie cards going up above the new Beckett prices.
Ebay has quite a system. It's free to register and bid. You receive email each time you bid, when you are outbid, when you have a winning bid at the close of an auction, and an update each day on the lots where you are still high bidder. Once you find a lot you want, you can bookmark it and keep coming back to watch as the auction progresses. Each lot has a closing time and a countdown of exactly how many days, hours, minutes, and seconds remain. On a hot item the final minute is when it really gets moving. Since entering a bid takes about 10 seconds you'll see many lots that have the winning bid occur within half a minute of the closing time.
Selling on Ebay is also quite easy, but it's not free. Items are subject to an insertion fee (up to $2.00 depending upon the minimum bid/reserve price) and a percentage of the final sale price (between 1.25% and 5% depending upon the price). If you're worried about not getting enough value on your card(s) then you can put a reserve price on them. If the reserve isn't met then you're not obligated to sell the lot. The fees keep you from selling too many cheap cards, but Ebay is an excellent way to maximize your return on a hot seller.
Auction Universe
Another option for auction fun is at Auction Universe. While not nearly the size of Ebay, you can still find some deals and bid on some hot cards. Bidding requires a quick, free registration. The same "up to the last second" bidding is possible, but most of the sportscard lots I was watching weren't that competitive. My beanie babies collecting friends weren't disappointed as this site is loaded with great beanie deals and quick paced auctions.
Anyone can sell on Auction Universe as long as they get an account. Accounts can be opened by credit card or by sending a check (minimum check is $50). Auctions cost 25 cents to list plus a fee equal to 2.5% of the selling price of your item. Other options are available including special type fonts (for an extra $0.25) and showcase auctions for really special merchandise. You are allowed to link to a photo of your item both here and at Ebay. I believe that Auction Universe will have a future, but for now it needs more lots to bid on.
Teletrade
While they're still testing a system that will allow for internet bidding, Teletrade is the place to find some beautiful sportscards on the auction block. Many of the lots include photos and there is an auction ending almost every other day. Bidding can be done by phone (all automated by touch-tone) or by computer (by dialing into the Teletrade computer). Unlike the other auctions we've looked at, Teletrade charges a fee to the buyer (of 10%). This fee is based on the fact that they are handling the actual sale (as opposed to the other auctions where the seller handles the sale).
You can also sell items on Teletrade, but the items must first be submitted to them for approval. Auctions start at 50% of the item's value and grading must be strict or your items can be rejected. A 10% consignment fee is paid when the item sells. I realize that this sounds like a bad deal in comparison to the other auctions, but you have to go to the site first to see why it's not. Teletrade is a good venue for auctioning off high value, high grade cards. You'll see many PSA graded lots and you'll also know that the item you're bidding on has been checked out by a professional.
Other Online Auctions
While I've only touched on a few of the biggest auction sites, there are new ones popping up every day. The following is a quick list of some you can look at on your own:
Boekhout's Collectibles Mall Auctions
Collectors Auction - This is another large service like Ebay or Auction Universe that I haven't had a chance to use yet. It is broken down by sport and year, and there are thousands of current auctions running.
That's it for this week. I hope you find what you're looking for on the auctions, but I will leave you with some words of wisdom. Decide how much you can afford to spend before you start bidding and stick to your budget. Auctions are addictive and watching your card creep up dollar by dollar can cause you to forget how much you have to spend. There are bargains to be had, but it's also easy to get caught in the excitement and bid more than an item is worth.
I'll be back in a week with more from the world of sportscards. Make sure you mark down the date and time of our next Meet the Manufacturer chat with Pinnacle Trading Cards. It's set to go on February 24, from 6:00 to 7:00pm CST (7:00 to 8:00pm EST). Don't miss it!!
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