Sunday July 27th, 2014 – Wilmot, WI
I was walking through a thrift store a couple of weeks ago and ran across a bag of toy cars that were on sale for $2. It was a generous sized bag for that price, and I noticed it was packed with a collection of Pontiac Trans Ams for whatever reason. When I was growing up that was a hot car.
Somebody had obviously been collecting them, and they were donated. I have always liked toy cars, and anytime I can cop a sizeable load of them for a low price I’ll do it if for no other reason than I like to give them away to kids. The look in their eyes when they get a big bag is priceless.
This seemed like an especially good find, so I gambled the two bucks knowing I wouldn’t lose. I opened them in the car, and was impressed with the quality of the load. There were Hot Wheels and Matchbox and Corgi which are all brand names. They were in top notch condition and there was a nice variety. There were also a couple of slot cars – both Trans Ams – and a Batmobile.
When I got home I immediately emptied the bag for a count, and it was 27. Not shabby. That’s far less than a dime a car. I looked up some of them on Ebay, and saw they had asking prices of up to $15 a car. There was a Hot Wheels special edition that was a mail in offer exclusively, and there were four of those. The Batmobile had asking prices between $10-$15, so I knew I’d be ok.
Even the no name Trans Ams had to be worth at least a buck each, and there were also a couple of higher end Matchbox models of older cars that were in excellent shape. There were also a few cheapo cars in the bag that would probably sell for a quarter or less, but as a whole it was a haul.
Today I took my weekly run through the flea market in Wilmot, WI and decided to bring along the bag of cars to see if I could sell them as a whole. I would much rather turn a quick profit and let some vendor make out than set up and sweat my Sunday away trying to sell them all myself.
My cousin Jef Parker used to own Collector’s Edge Comics in Milwaukee, and I would watch him wheel and deal comic book collections. He said there were always two strategies, and buyers had to decide if they wanted to flip it for a quick profit or piece it out in detail and squeeze every cent out. The latter would entail much more time, effort and expense so he preferred the former.
I also watched master sports card dealer Ray Gunderson of Gunderson’s Sports Cards in West Allis, WI pull off deal after deal and that was his strategy too. He was always about a quick flip – even if he lost out in the long run. He didn’t care if the buyer got an extra good deal, and in fact he wanted that so they’d come back and buy from him again. “This ain’t no museum,” he’d say.
Whatever he paid for anything, he’d move it out the door for 2-3 times what he paid for it. He kept his doors open for 20 years doing that, and everyone thought he was crazy for having such low prices. But his success was being able to buy low, and he did it regularly. He was a master.
That’s exactly what I did with this bag of cars. I stumbled upon it by chance, and it was able to be had for the right price. I suppose I could have farted around on Ebay and maybe made $100 or more, but I settled for a quick $20 from a dealer who was sweating in the sun. Maybe I could’ve tried for $40 or $60, but I kept it fair. I made a nice profit for doing nothing. I’ll take it and run.