Baseball Card Flipping Project – Part 13 : Entrepreneur

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Hey guys!I keep trying to find a good place to send an update “let’s wait until this auction ends” or “let’s wait until these cards arrive back from PSA” or “let’s wait until I list these items.” The problem is that there is too much going on to find a great stopping place.A really really really brief recap of the past twelve partsI started in December of 2018 with $1,165 with the goal of making $10,000 in one year. In 2019, I had bought and sold over $40k in baseball, football and various sports trading cards. I had a few great successes ($1,165 into $3,085 before fees – $2,771.20 into $6,200.10 before fees – $1,086.68 into $3,190.54 before fees) and a few duds. I generally sell my cards on ebay, but utilize auction houses every now and then. The biggest bottleneck I face is submitting cards to PSA (a third party grading company), a card might have a 2-4 month turnaround time. To successfully “flip” you need to balance some of these purchases with shorter flips. In 2019, I ended with a final profit of $9,262.28 – a tad bit short of my goal. In 2020, my goal is $20,000 (fitting). Using my margins from 2019, I would need to sell around $85k in cards.You can find the previous installment herePurchasedI bought a group of four signed Perez Steele postcards with Mickey Mantle and rarer Roy Campanella. I paid $676.59 after fees for the lot. For those of you who aren’t aware, Roy Campanella was in a car accident in 1958 leaving him in a wheelchair for the remainder of his life. His “pre-accident” signatures are particularly beautiful and carry a significant premium over his “post-accident” signature. Still, his signature is fairly difficult and rare on Perez-Steele postcards (which was issued in 1989 with Campanella dying in 1993). These postcards are collectible. I sent the group to PSA for authentication and will sell once back.In the same auction, I bought another grouping of wax pack wrappers, paying $920.00 after fees. I bought another group of wrappers previously at a Huggins and Scott auction (which have been doing well for me). I saw these wrappers and figured I would try again. They are all football wrappers with several difficult types. They are already in hand and I listed the bulk of them last night, one sold this morning for $65.00What SoldSpeaking of wrappers! Last update I told you that I was able to list all of the wrappers as buy it nows – sales continue to trickle in. Another $149.00 worth of wrappers sold, led by the 1972 Topps Basketball wrappers for $90.00. I’m going to let the rest of the wrappers sit a while. They are listed and stored. I’ll probably keep selling a couple each week for another month or so before I switch anything up. I am another $200 away from breaking even on the group and have over $2k listed right now.I am taking a similar approach to the 1912 Blankets – I have listed around 30 of the 100 blankets and will likely let them sit as sales trickle in. I sold 3 individual blankets and five blankets listed as a group this blanket sold for $52.00. I paid an average of around $13 per blanket, the first few sold for $27.88 per blanket. There are a few that are worth over a $100, so I should do well on this. I just need to finish listing everything and wait.I sold a few more items from the multi-sport collection I bought from Huggins & Scott. Led by the [first issue of Sports Illustrated, selling for $107.50)[ https://www.ebay.com/itm/August-16-1954-Sports-Illustrated-FIRST-ISSUE-w-1954-Topps-Cards-Sheets-NICE/293452722356?hash=item44532530b4:g:ruMAAOSw14ZeM7Jv], I brought in another $201.21 from the group. There are still a few items I need to list, but I sent 13 cards to PSA and one card is sitting with PWCC to sell. It’s still too early to see whether I turn a profit (largely depends on the PWSA cards), so I am leaving the tracker at breaking even.The 1909 Ty Cobb card sold through PWCC on Tuesday, ending at $855.00. The final price is fine, it was more than I was being offered in my store, but I’m overall a little upset with Grey Flannel selling me a trimmed card. Oh well! I still have nine cards with PSA, nothing too special. I am predicting a ~$400 loss on this.I sold all of the Parkhurst Hockey cards I didn’t send to PSA (the rejects). It came out to $55.76.I sold the two remaining Yogi Berra cards for $224.50 and $175.00. I have a 1965 Topps Berra floating around somewhere and the remaining 22 cards are with PSA. I basically got full retail out of the first three cards, so I am hoping to do very well on this group, it is entirely dependent on how PSA treats me.I sold the graded Mickey Mantle cards from that REA auction that I won. The total of those seven cards came out to $1,236.91. I should do very well on this group, I think that the remaining cards I sent to PSA have a conservative value of $1,500-$1,800. I put in $1,000 in the tracker just to be safe. Depending on how they grade I might keep a card (more on that later).I FINALLY received some cards back from PSA (more on that later). One of the Hank Aaron cards from that group a purchased a while ago sold this morning for $125.00.PSA UpdateHere is a link to the Google Doc with the status of all of my PSA cards. The spreadsheet also includes a summary of where the project is.Two of my PSA orders finally were finished. The oversized cards, including the last of the Hank Aaron cards and the last of the 1936/1937 Goudey cards were sent back. For the oversized order, the grades came out more or less where I expected. I was hoping the Koufax cards would so a little better, but it all worked out well. I am not changing any inventory value assumptions based on these results. The second order that completed was comprised of those multi-sport cards from that Goldin auction. What is frustrating about this is that while this order (which was received by PSA on 12/11) is completed, another order for this project (which was received on 10/17) is still being processed. Overall, I am very happy with the results. I think they were a little hard on a couple of the cards, but I was pleasantly surprised by the PSA 7 on the 1980 Scoring Leaders card (that’s around a $450 card). As a result, I increased the inventory value on the lot to $800.00 remaining on hand, which is fair.I still have quite a few items with them, it appears there is some movement on a couple of the orders, hopefully they will get back to me soon.So, to update the summary:ItemCostSoldFeesInventory^Profit1972 Kellogg’s Set$1,165.00$3,085.64($462.85)$1,457.791960’s Mantle Postcards$27.99$82.55($12.38)$42.181966 Topps Lot$20.50$46.00($6.90)$18.601967 Vene. Topps Mantle$432.80$825.00($123.75)$268.451960’s Insert Lot$420.00$1,004.88($150.73)$434.151960’s Empty Boxes$645.00$1,914.60($287.19)$982.411956 Adventure Gum Set$956.13$1,405.40($210.81)$238.461961 Golden Press Set$3,451.20$3,956.15($593.42)($88.47)1957 Topps Partial Set$122.01$190.01($28.50)$39.501909-Modern “Grab-Bag”$796.00$1,092.83($163.92)$132.911936 Goudey R314 Lot*$288.00$714.55($107.18)$50.00$369.371969-1973 Topps Yankees Lot$2,771.20$6,200.10($930.02)$2,498.89Hank Aaron “Odd-Ball” Collection*$1,086.68$3,315.54($497.33)$150.00$1,881.53Pre-WWII card lot w/ Cobb & Mathewson*$1,882.55$1,322.75($198.41)$400.00($358.21)N154 Duke Presidential BB Club Pair$390.20$675.00($33.75)$251.051934-36 Batter Up Low # Set$1,437.81$2,120.35($318.05)$364.49(23) Sandy Koufax 1950’s & 60’s lot*$869.601,315.00($197.25)$250.00$498.151934 Goudey Wrappers Trio$84.00$74.51($11.18)($20.67)1977-1979 Topps Rack & Cello Packs (6)*$1,090.00$923.00($138.45)$250.00($55.45)Perez-Steele set w/ 28 signed$570.00$727.49($109.12)$48.37Perez-Steele set w/ 42 signed$720.00$1,104.52($165.68)$218.841952 Bowman Ftb Small Signed Lot (38)$1,140.00$2,243.51($336.53)$766.981961-62 Fleer Oscar Robertson Signed Lot (2)$690.00$886.06($132.91)$63.151969 Baseball lot w/ PSA graded$276.00$403.44($60.52)$66.92(5) 1961 Topps Magic Rub-Offs PSA Lot$112.72$371.01(55.65)$202.641957 Swift Meats Complete Set (18)*$800.00$800.00(41) 1933-2001 Multi-Sports PSA Lot$960.00$2,065.72($309.86)$795.86(36) 1950s-2000s Multi-Sports Group*$900.00$488.93($73.34)$800.00$315.591933-1989 Wax Pack Wrapper Lot (650)*$980.00$996.00($149.40)$400.00$266.601941-2004 Multi-Sport Treasure Chest (33)*$1,100.00$490.43($73.56)$700.00$16.871912 B18 Blanket Find (100)*$1,270.80$223.00($33.45)$1,100.00$18.751962-63 Parkhurst Hockey Lot (45+)*$545.40$191.26($28.69)$450.00$67.171953 to 1969 Mickey Mantle Group (16)*$1,800.00$1,236.91($185.54)$1,000.00$251.371956-1959 Topps and Fleer Baseball Collection (48)*$1,130.00$1,130.001961-1969 Baseball Collection (61)*$804.95$804.951948-1965 Yogi Berra Collection (26)*$1,452.17$479.50($71.93)$1,050.00$5.41Lot of (4) Signed Perez-Steele Postcards*$676.59$676.591950’s-1980’s Football Wrapper Lot (42)*$920.00$65.00($9.75)$875.00$10.25$34,785.30$42,236.64($6,268.00)$10,886.54$12,069.88*-denotes inventory still on hand (see below).^ -inventory on hand is valued at a conservative estimate of fair market value for remaining items.`-grading fees are expensed when the card is sent to PSA, fees are not paid until PSA has completed the order. Fees that are expensed, but not paid are sitting in Accounts Payable below.Total Grading Fees`: $2,473.93 (2020: $113.00)Current On HandCash: $720.14InventoryThis section will be moved to the Google Spreadsheet (it was taking up too much room).ALSO! If anyone is interested in what the financials for this project would look like, see below. With 2019 officially in the book, I moved the final 2019 financial statement over for a year-over-year comparison:As of 2/14/20202020 YTD2019 FinalCash$720.14$1,680.15Accounts Receivable$855.00$-Inventory^10,886.54$10,605.75Accounts Payable`($1,700.52)($1,858.62)Retained Earnings($9,262.28)$-Initial Capital($1,165.00)($1,165.00)Revenue($2,073.49)($40,163.15)Cost of Goods Sold$1,315.80$22,582.96Fees (15% of Rev.)$311.02$5,956.97Grading Fees$113.00$2,360.93I look forward to continuing to update everyone on this. Hope you enjoy as much as I do.Jason

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