LanceFormation wrote:
Dagoth wrote:
The only reason the last book sold for so much is because a couple individuals with a lot of money to throw around assumed it was insanely rare (it is) and another listing would probably not come soon.
That’s probably the case here, but I also think there could have been some of the heat of the moment, gotta win no matter what psychology that came in to play. You see that often. This listing stagnated for a while at such a high bid it did seem ripe for a last minute bidding contest. Regardless, I think we are going to see a spike in asking prices for a while.
Lol, no need to speculate, it was me. I liked the cover and it was clean
Seriously, I took the bidding to £650 but someone took it to £1000 then someone else took it higher, at the last minute a bid nibbler joined in which was useful as it took out the other bidder showing top price was £2k. I had planned to snipe all week so totally planned. No point bidding during the week and getting nibbled or starting a war too early, I expected last minute action.
There are 4 or 5 other books I want this year, 2 or 3 at similar perhaps inflated price but I'd rather buy from a real seller now than a dealer later on at twice the price. If a cheaper one drops thats fine as I'm not a flipper, buy it if you like it, luck of the draw.
billhinge wrote:
Lol, no need to speculate, it was me. I liked the cover and it was clean
Seriously, I took the bidding to £650 but someone took it to £1000 then someone else took it higher, at the last minute a bid nibbler joined in which was useful as it took out the other bidder showing top price was £2k. I had planned to snipe all week so totally planned. No point bidding during the week and getting nibbled or starting a war too early, I expected last minute action.
There are 4 or 5 other books I want this year, 2 or 3 at similar perhaps inflated price but I'd rather buy from a real seller now than a dealer later on at twice the price. If a cheaper one drops thats fine as I'm not a flipper, buy it if you like it, luck of the draw.
That’s cool. I too have bid/bought items at inflated prices as probably some other TCG folk have done. It was just that this particular book seemed to really smash the previous ceiling by a lot. But anyway glad it went to a forum member!
yes I imagined the other bidder was 'you know who' My assumption rightly or wrongly being that a dealer has to get it cheap enough to factor in a ~x2 margin to flip at a not totally unreasonable price so I should be able to outbid them?
My assumption rightly or wrongly being that a dealer has to get it cheap enough to factor in a ~x2 margin to flip at a not totally unreasonable price so I should be able to outbid them?billhinge wrote:
yes I imagined the other bidder was 'you know who'
Maybe. I think it really depends on the item being resold.
A 2x markup on say 1937 Hobbits or 1st Edition/1st Impression LOTRs or Tolkien signed items has certainly been occurring (if not 3x or more). The market is suggesting I guess a significant markup on these items is palatable.
It is unclear if this Pleasure in Reading Hobbit would have been resold for a 2x markup (£4000+) if a reseller bought it. I do appreciate the rarity of the book, but it just doesn’t seem to have the same wide audience appeal and buyer demand. But that’s my take…
Bottom line is that you wanted it and planned to spend to get it. No different than what I have done on some items in the past and probably will do in the future ?
Trotter wrote:
Urulókë wrote:
This newest listing is a second impression, while the one that just sold is a first impression. I would expect that second impressions, generally speaking, sell for less than the first impressions (ignoring lots of other factors e.g. book condition).
They don't for this book, they are equally rare to date, and this is an unusual book in that the impression does not matter. It is condition for these books that was important in the past for price. That seems to have changed.
An example that influenced me. Bilbo En Hobbits Aventyr (Tove Jansson) - removed link, sorry
A few months back it was averaging £500, now 2 of the copies are £2k and one is £1.2k
I think there is, or going to be to a return to asset collecting, whether that be Rolex Daytona's, precious metal, crypto or Tolkien driving prices up with the last 30 years of low inflation being a blip
Coincidentally, in this mornings Times which just arrived there is an article about rare whisky going for £100K, also mentions lego, trainers and stamps as rising collectables (several years ago when my father died stamps were in the doldrums and his rare stamps weren't as valuable as they had been). I think these things are cyclical and the tide has turned the other way to rising prices
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