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Thursday, June 5, 2014

My COMC Experiment Update

First, I doubt anyone even knew I had a COMC experiment.  But that's neither here nor there.

My experiment was simple enough...take a few cards, turn them into a few more cards, and amass a collection without sending anything to them or purchasing store credit to do so.  Then try to flip as much of the collection to turn a positive sale in order to by more inventory.  My ultimate goal was to increase my $18 investment 10X in a year.

The focus of my collection is on pre-1989 hockey cards, seeing that the overabundance of 1990s stuff was too overproduced and available and the 2000+ stuff was basically too expensive or just didn't sell (although I do have some stuff from those eras).  I had $18 in leftover store credit from a purchase I had made about six months before so I used it to acquire a few decent 1960s and 70s cards.

My experiment started on 8/8/2013 with my first sale of a 1970-71 Topps Pete Mahovlich card with condition sensitivity.  It's still going pretty strong too, albeit not as strongly as in the beginning.

But to date, here are my stats...

  • I took an opening balance of      $18
  • I purchased a total of                   38   cards for my inventory
  • I have sold                                 190   cards from my inventory
  • My inventory currently has         457   cards for sale
  • My total sales amount is        $240.39
I would say that has been a success, wouldn't you?  I increased my sale to purchase volume by over 13Xs my original investment.  That's pretty good considering the small amount I started with.  I also have quite a few cards in my inventory with values near $1 per card, not bad for mostly pre-1980s stuff.  

I guess the moral of this story is, you can make money on cards if you are patient with the process and aggressive with marketing.  COMC is a good marketplace to buy singles but you won't get rich off selling there, especially after the cash out fees.  But it has been a fun little project to work on a couple times a week and it's always fun to see my Daily Stat that gets emailed to me so I can see what sold.  I have basically turned COMC into my own personal cardboard stock market.

If anyone wonders, my username on there is "dogfacedgremlin" and I generally entertain most offers on cards, as long as they are realistic to what I purchased them for.  I always counter with my lowest price.

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