How can you Accurately Value a Pin
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Hello Everyone.
I have some of what I feel can be pretty valuable information when it comes to putting the value on a pin. Some of you may have read one of my previous post about never needing a pin that bad, which the moral is, everyone has different taste, some like cherry, some like vanilla and the same holds true with value, some think it's a $20.00 pin while others think it's a $80.00 pin. So who is right? Both are and here is my explaination as to how and why.
You cant fault someone for liking a certain flavor any more then they value a pin. Some people may have traded very easy for a pin or bought it when it was very inexpensive and therefore, they trade it easy or sell it cheaper than others, while the next person may have traded hard for it or paid a huge sum of money to get it.
But the main thing is I hear a lot of people asking,"What can I sell my pins for".
Of course that can be asnwered by saying, it depends on the supply and demand. What makes a pin so valuable? How does it go from a $35.00 pin to a $350.00 pin?
Yes! Supply and demand and also the willingness of what people will pay to have that pin.
I can go into great detail on how people obtain these pins like staying awake all night on DS.com waiting for the strike of Midnight or waiting in line for hours (days) to get a pin.
Lets look at waiting in line. Your time is worth something. I know I waited in line for 7 hours at the DSF for the Nightmare pin release. Even at minimum wage, I have invested approx: $50.00 of my time to obtain these pins. Not to mention Gas & Parking. So right off the bat, my $12.95 pin has now cost me (and I did by a number of pins so I am averaging) $18.00.
Now lets also look at the fact that there were only 300 of each and 150 of the surprise pin. This adds even more value to the pin. Of course in he case of LE25's that there are 200 people who are online at one time trying to get it, the lucky 25 who do can easily turn around and sell those pins for 3,4,5 even 6 time the purchase price the next day because the demand is there.
But when looking to sell or buy a pin, what is the best way to determine if you are getting or paying a fair market price? Many people will refer to ebay and say they saw the pin for $200.00. The problem is, one has never sold for that price. If I put a CUTIE up for $200.00, does that make it a $200.00 pin? Of course not.
Now in additon to this, there is always the case that someone who has the money to burn will bid very high on a pin because they want it that badly. So if the pin has sold one time for $200.00 is that what its worth? Well, it was to that particular buyer but now it takes time to tell.
The next seller may have seen this auction and placed theirs at $200.00 also but with no action whatsoever, so in a couple of weeks, they reduce it to say $175.00 and still no action. This goes on for a few more weeks until finally at $125.00 the pin sells.
Now buyers have seen the high end and the low end. Of course the next seller probably wont get $200.00 for it so the list it with a minimum bid of say $125.00 and it sells. Now we have a track record. Even without this sale, if someone were to ask me what the pin was worth, based on the high and low of the sale, I would say approx: $162.50.
Now we have to also remember that supply and demand are key factors here too. I have seen plenty of LE500 pins that there are 75 trading and only 25 wanting. That pin will not get a premium while on the flipside and depending on the theme, character, etc, the pin is very popular and there are only 20 trading and 200 wanting, the supply is low and the demand is high so its a sellers market.
Now lets even look at the standars LE1000 releases at DLR (WDW and all the rest)
In many cases you may pay $9.95 for the pin and in 3 months theyare selling on a regular basis for $5.00 on the bay. Once again, no demand and an ample supply.
You will almost always see on ebay regardless of the product 10 sellers who are all in the same price range and 1 or 2 that are double or triple that of the others. Why? Because they are hoping the can sell it for that price but in reality, as long as others are cheaper, they will not sell and eventully have to come down if they want to sell it.
Another thing to think about is where are you selling it geographically. Here is a great example. Lets use the new POH pins. I will use NEMO s the example. There were no lines to get this pin and for literally months after its release it was stll on some racks, yet is was routinely selling on ebay for $29.95. Why? Because the people buying the are not local to the park, dont have a friend who can get them one and are far far away from the park so they have to pay a premium. Sure, you can still go into the park and pay $9.95 but they can't. Does that mean the pin is worth $29.95? Yes, to some it is, again supply and demand.
Of course you can always go on the higher end when selling and give an OBO for them but the high prices may scare away some potential buyers. Te best thing to do is not go by what you think but go by reality and look at various other sellers who are selling the same pins. Everything has a market value and like houses, it's like getting an appraisel. Some may be way less that you had hoped and other on the higher end you never thought of.
When buying a pin regardless of the price, you have to ask yourself, bottom line, will I be happy with what I have paid or this pin. Maybe it's the last to complete a set or for a very special someone. The value is all in the eye of the beholder but there is still some reality that should be involved.
Would you trade $100.00 bills for $20.00 bills. (if so, let me know).
So in closing, just because you see someone with a pin that has a higher price han YOU think it should be, maybe that is what THEY think it is worth. People can ask anything for a pin and if someone is willing to pay it, great for the seller and the buyer knew what the were getting for what they were paying so all should be happy but 1 sale should not dictate price.
And always remember that comminucation is the key to success. There are polite ways to ask a buyer for a better price without coming across the rong way. I have has a nymber of tmes and here is an actual example. A seller had a but itnow for $120.00 on the bay, I wrote them a leter asing that in the event the pin does not sell for your buy it now price, I would be willing to give you $80.00 for it. One of 2 things happens. Eitherthay sell the pin or the acton closes and the will either sell methe pin (which in tis case they did) or they may counter wth an ffer in between.
Not every price is fixed and what I mean by this is why is the seller elling it? because they want to or need to. They can ask $200.00 all day long and if no one is buying and they need the money, they may be qick to take you up on your offer.
M best advice again is like homes, coins, stamps or any other commodity, d your research, get multiple apprasials and selling prices and dont just jump on the first price you see unless you know what you are buying.
And as for the bay, if yo see a pin that is normally $100.00 selling on a buy it now for $20.00, I would ask questions first. This works both ways.
If you have made it this far, I know most of you well seasoned buyers ad sellers know most of this but this is also for the newbies who have not had a lot of experience.
Like I tell my Children....."DO YOUR HOMEWORK"
I have some of what I feel can be pretty valuable information when it comes to putting the value on a pin. Some of you may have read one of my previous post about never needing a pin that bad, which the moral is, everyone has different taste, some like cherry, some like vanilla and the same holds true with value, some think it's a $20.00 pin while others think it's a $80.00 pin. So who is right? Both are and here is my explaination as to how and why.
You cant fault someone for liking a certain flavor any more then they value a pin. Some people may have traded very easy for a pin or bought it when it was very inexpensive and therefore, they trade it easy or sell it cheaper than others, while the next person may have traded hard for it or paid a huge sum of money to get it.
But the main thing is I hear a lot of people asking,"What can I sell my pins for".
Of course that can be asnwered by saying, it depends on the supply and demand. What makes a pin so valuable? How does it go from a $35.00 pin to a $350.00 pin?
Yes! Supply and demand and also the willingness of what people will pay to have that pin.
I can go into great detail on how people obtain these pins like staying awake all night on DS.com waiting for the strike of Midnight or waiting in line for hours (days) to get a pin.
Lets look at waiting in line. Your time is worth something. I know I waited in line for 7 hours at the DSF for the Nightmare pin release. Even at minimum wage, I have invested approx: $50.00 of my time to obtain these pins. Not to mention Gas & Parking. So right off the bat, my $12.95 pin has now cost me (and I did by a number of pins so I am averaging) $18.00.
Now lets also look at the fact that there were only 300 of each and 150 of the surprise pin. This adds even more value to the pin. Of course in he case of LE25's that there are 200 people who are online at one time trying to get it, the lucky 25 who do can easily turn around and sell those pins for 3,4,5 even 6 time the purchase price the next day because the demand is there.
But when looking to sell or buy a pin, what is the best way to determine if you are getting or paying a fair market price? Many people will refer to ebay and say they saw the pin for $200.00. The problem is, one has never sold for that price. If I put a CUTIE up for $200.00, does that make it a $200.00 pin? Of course not.
Now in additon to this, there is always the case that someone who has the money to burn will bid very high on a pin because they want it that badly. So if the pin has sold one time for $200.00 is that what its worth? Well, it was to that particular buyer but now it takes time to tell.
The next seller may have seen this auction and placed theirs at $200.00 also but with no action whatsoever, so in a couple of weeks, they reduce it to say $175.00 and still no action. This goes on for a few more weeks until finally at $125.00 the pin sells.
Now buyers have seen the high end and the low end. Of course the next seller probably wont get $200.00 for it so the list it with a minimum bid of say $125.00 and it sells. Now we have a track record. Even without this sale, if someone were to ask me what the pin was worth, based on the high and low of the sale, I would say approx: $162.50.
Now we have to also remember that supply and demand are key factors here too. I have seen plenty of LE500 pins that there are 75 trading and only 25 wanting. That pin will not get a premium while on the flipside and depending on the theme, character, etc, the pin is very popular and there are only 20 trading and 200 wanting, the supply is low and the demand is high so its a sellers market.
Now lets even look at the standars LE1000 releases at DLR (WDW and all the rest)
In many cases you may pay $9.95 for the pin and in 3 months theyare selling on a regular basis for $5.00 on the bay. Once again, no demand and an ample supply.
You will almost always see on ebay regardless of the product 10 sellers who are all in the same price range and 1 or 2 that are double or triple that of the others. Why? Because they are hoping the can sell it for that price but in reality, as long as others are cheaper, they will not sell and eventully have to come down if they want to sell it.
Another thing to think about is where are you selling it geographically. Here is a great example. Lets use the new POH pins. I will use NEMO s the example. There were no lines to get this pin and for literally months after its release it was stll on some racks, yet is was routinely selling on ebay for $29.95. Why? Because the people buying the are not local to the park, dont have a friend who can get them one and are far far away from the park so they have to pay a premium. Sure, you can still go into the park and pay $9.95 but they can't. Does that mean the pin is worth $29.95? Yes, to some it is, again supply and demand.
Of course you can always go on the higher end when selling and give an OBO for them but the high prices may scare away some potential buyers. Te best thing to do is not go by what you think but go by reality and look at various other sellers who are selling the same pins. Everything has a market value and like houses, it's like getting an appraisel. Some may be way less that you had hoped and other on the higher end you never thought of.
When buying a pin regardless of the price, you have to ask yourself, bottom line, will I be happy with what I have paid or this pin. Maybe it's the last to complete a set or for a very special someone. The value is all in the eye of the beholder but there is still some reality that should be involved.
Would you trade $100.00 bills for $20.00 bills. (if so, let me know).
So in closing, just because you see someone with a pin that has a higher price han YOU think it should be, maybe that is what THEY think it is worth. People can ask anything for a pin and if someone is willing to pay it, great for the seller and the buyer knew what the were getting for what they were paying so all should be happy but 1 sale should not dictate price.
And always remember that comminucation is the key to success. There are polite ways to ask a buyer for a better price without coming across the rong way. I have has a nymber of tmes and here is an actual example. A seller had a but itnow for $120.00 on the bay, I wrote them a leter asing that in the event the pin does not sell for your buy it now price, I would be willing to give you $80.00 for it. One of 2 things happens. Eitherthay sell the pin or the acton closes and the will either sell methe pin (which in tis case they did) or they may counter wth an ffer in between.
Not every price is fixed and what I mean by this is why is the seller elling it? because they want to or need to. They can ask $200.00 all day long and if no one is buying and they need the money, they may be qick to take you up on your offer.
M best advice again is like homes, coins, stamps or any other commodity, d your research, get multiple apprasials and selling prices and dont just jump on the first price you see unless you know what you are buying.
And as for the bay, if yo see a pin that is normally $100.00 selling on a buy it now for $20.00, I would ask questions first. This works both ways.
If you have made it this far, I know most of you well seasoned buyers ad sellers know most of this but this is also for the newbies who have not had a lot of experience.
Like I tell my Children....."DO YOUR HOMEWORK"
