#MTGFinance
You've probably seen this if you peruse a few different forums and info sites regarding magic.
Since the topic of reselling after buying out has come up in the price thread: how do you feel about the mtg stock game? Have you participated in speccing? Do you feel it is unfair to buyout and manipulate the price of a commonly used card? Have you profited from speccing? If so how much? How much have you lost?
If you're not into it yet, would you?
I have dipped my toe in. Bought 50 copies of Mastery of the unseen at $.33 each. Then started selling them when they hit $4. I'm going to keep at it though. Might keep to 20-24 copies per speculation though. 50 was too much to try to move without going buylist.
But what you're talking about is related to speccing I feel, you're buying x (usually as many as one can afford) in order to resell on hype train, even better when you control the hype train price
So it's like stocks, but for magic cards?
Quote from: Taysby on May 30, 2015, 07:47:54 PM
Speccing is fine. When a company/individual exhibits monopolistic tendencies by buying out and being the only seller, I don't like that. I believe it's unethical.
What's the difference between buying out, say, tcgplayer and scg and then hoarding, and buying everything out locally and doing the same thing.
I bought out all the sygg river foils at $5-$7 each foil (15 total available)
Someone relisted a foil at 25.99
Someone bought that out and relisted at $55
It has settled at $30 avg + shipping for NM foil.
Keep in mind I never set these prices, thankfully other sellers did it for me.
Am I unethical? I did buyout the complete inventory available online, but I didn't make the new price.
Being able to manipulate the market because you paid attention to supply and demand isn't unethical, it's just apart of business.
You undercutting local competitors for your iPad repair service seems more unethical but to say that is to be a terrible business model for growth "oh I shouldn't profit"
I remember trading for like 30 or forty {hero of Iroas} when they hit like 50 cents or a dollar and then selling them when they went back up
Well, when abusing a monopoly position and inflating actual worth of the card, that's gonna create a bubble. In the long term, these bubbles will burst.
We as community could act against this sort of behavior by keeping in mind what a card would be worth to us.
As long as people will buy at these inflated prices, the price will stay high.
Then again, if people are willing to pay, and there is demand at the inflated prices, economically it is viable.
Personally I'd think that wizards could actively discourage this sort of aftermarket hogging by reprinting without considering said aftermarket.
I feel people upset about bubbles more so have a thought of "wish I grabbed those and paid attention to what is limited in supply enough to be bought out for format staples"
I have profited by speculating and picking up cards like {Mana Conflunce} and {Goblin Rabble Master} then unloading when they were high. I have no problems with speculating. I don't like the idea of buying something out then jacking the price. I agree that it's unethical, but in buisness the line between legal and illegal is the one that counts. As mentioned you could get nailed for tax evasion if you don't claim it.
My bottom line is, I have no problem with buying and selling cards for profit, I do have a problem with buying cards in order to raise the price however I understand that it's viable.
If supply is limited and demand is high: isn't it natural for price to increase?
Lets remember serum visions is a $9 common - A $9 common - can't everyone just keep it at $3? Demand
Yes but the supply isn't being manipulated to inflate the price.
Quote from: LinkCelestrial on May 31, 2015, 05:33:37 PM
Yes but the supply isn't being manipulated to inflate the price.
Can you prove this either way?
Quote from: Rass on May 31, 2015, 06:23:21 PM
Quote from: LinkCelestrial on May 31, 2015, 05:33:37 PM
Yes but the supply isn't being manipulated to inflate the price.
Can you prove this either way?
I have no reason to believe that it's being manipulated. It has one print and is a grade A cantrip. It's very hard to manipulate a card like that without somebody noticing. It's possible that I'm wrong but I'm going to say the evidence for a change from the norm is lacking.
An interesting story relevant to interests on here. German magic player being sued for a {Chromanticore} speculation of all of 30 cards: http://www.reddit.com/r/magicTCG/comments/37tqqa/how_selling_magic_cards_might_land_me_in_jail/
Quote from: Noblellama on June 01, 2015, 10:41:07 AM
Quote from: Cender on June 01, 2015, 10:32:57 AM
An interesting story relevant to interests on here. German magic player being sued for a {Chromanticore} speculation of all of 30 cards: http://www.reddit.com/r/magicTCG/comments/37tqqa/how_selling_magic_cards_might_land_me_in_jail/
"Supposedly"
As I understand he bought 4 cards from them, playset. Then there is possible prior knowledge involved, which could lead to a conviction. I don't know enough of the actual case though to know what exactly they are going for here.
Big card company (TCG distributor/3rd party portal owner) sues little card company (little guy making profit by speccing properly)
Seems dumb to me that these companies want to reap the profit all for themselves rather than encouraging profit for users smart enough to spec the market properly.
We do not berate people for investing in stocks and making money, we just tax them so hard that they have to make triple of their original investment in order to come out with double the original investment (cuz taxes)
But insider trading does happen.
With manipulating prices at topic here:
The discussion of how vendors did not allow the price of tarm to fall at GP Vegas. Several vendors ended up buying a ton of tarms this weekend for anywhere from $110-$130 each.
Most predicted tarm would be below $120 after/during the GPs.
We've seen a flood of product but the mid prices are still solid while the lows keep fluxing (indicating purchase or price adjustments)
Why is it ok for a larger vendor to manipulate the market like so, but not for an individual who made a correct decision on speccing a card that was more limited to availability than most thought, which actually had a high demand?
When we look at some cards that are $40+ each, we have to wonder: is it worth that much? If it wins you a game in the eternal formats, then yes
People pay $30-$35 for ojutai, I think $40+ for eternal staples are fine, even if they were $15 3 months ago. Someone realized its necessity and scarcity and came up on it.
Wouldn't you go to the best fishing hole if you could?
Maynard belongs here, speccing on that stamped foil Goyf 😉
Quote from: Cender on June 01, 2015, 10:32:57 AM
An interesting story relevant to interests on here. German magic player being sued for a {Chromanticore} speculation of all of 30 cards: http://www.reddit.com/r/magicTCG/comments/37tqqa/how_selling_magic_cards_might_land_me_in_jail/
In the interest of fairness: someone followed and got the other side of the story from the dealer who is suing' perspective.
http://atgn.com.au/sellers-beware-cautionary-tale-legal-entanglements-magic-players/
Quote from: Cender on June 02, 2015, 04:50:23 PM
Quote from: Cender on June 01, 2015, 10:32:57 AM
An interesting story relevant to interests on here. German magic player being sued for a {Chromanticore} speculation of all of 30 cards: http://www.reddit.com/r/magicTCG/comments/37tqqa/how_selling_magic_cards_might_land_me_in_jail/
In the interest of fairness: someone followed and got the other side of the story from the dealer who is suing' perspective.
http://atgn.com.au/sellers-beware-cautionary-tale-legal-entanglements-magic-players/
Another lesson learned. I was too quick to react on this case.
Note to self: always check your facts.
As soon as profit is intended, it's commercial in Germany.
Thank goodness I'm in America where I don't get in trouble for having a competitive price.
Yeesh