100%… what started as just a surge in individual’s beginning buy outs / entering the reselling and flipping domain (for modern) is beginning to become saturated with just “deal makers” in terms of higher end product both sealed / graded / and raw.
The reselling lifestyle had already become VERY crowded and as of the beginning of September, VERY toxic in the Pokémon community. Things I would only see in the Funko Pop niches, Hot Toys, etc. Sports matured quickly beyond the logic of “why am I going to overpay for retail product” with all the money being thrown there to begin with, it was still “cheaper” than paying retail price for a hobby box from an LGS / online. So paying 15$ for a 7$ pack for the retail exclusive products which have poorer odds but still offer an incentive to set build or pull many lower end variants still made sense. Since paying 50-75$ a pack for a hobby box but with guaranteed autos/relics/numbered cards is out of reach for many.
This came to Pokémon and gradually progressed (took a solid 6 months early Covid to September) to the point I was starting to feel embarrassed with what I was reading and seeing. The toxicity, the insults, the showboating, etc. It became VERY obvious that people turned their free time and subsidy cheque collecting into a full blown profitable, but stressful and competitive business.
Now within the last 6-8 weeks, you had certain guys on IG / the forums / groups who were lowkey doing what many have been doing for years. It isn’t abnormal for a wealthy person to have a personal shopper from each of their favorite high end boutiques and brands. Same thing with watches, collectibles, etc. Those same guys, without naming names, literally behind the scenes, secured specific items, started creating noise and buzz to increase demand while also drying up supply. Cha Ching! Winning formula no? Pay 5k today (or agree to pay 5k), take 24 hours and turn it into 7.5-10k? No brainer!
Now fast forward the last 2 weeks, you’re dealing with major fomo-induced rush to get in on positions or enter the market, but you’re being challenged and competing against the people who have been learning and doing this for 6 months (and in those 6 months, many of them acquired skills and knowledge that has taken long time collectors/sellers years and years to acquire). So the same guys who learned the stock schedule for every Target, Walmart, Best Buy, etc. Turned that business into a well oiled machine are now jumping in on the middle manning deals.
It’s like drop shipping for high end items lol… it’s crazy. The majority of eBay listings for high end that aren’t from a select handful of experienced sellers (who are mainly on this board), the sellers don’t even have the item in their hand physically. They’re testing the market and waters. It’s sickening. I was trying to do what would have been my biggest ONLINE transaction ever a few weeks ago (30k), but the eBay seller barely had feedback, was a nobody and no one I’ve seen online on any social media platform, etc. I ended up figuring out who the person was and reached out personally and tried inducing an in person meeting (seller lives a few hours from me).
Deal falls through, now he wants 5-6x the original amount… he messages me and comes clean and tells me (after I showed him 50k in cash) that he doesn’t even have the item in his possession? He knows a “guy” who has it. And now that he knows I’m liquid and saw how connected I am across the country and well networked, he wants me to “partner” with him? So I can finance his flipping ventures.
l m a o
Imagine I had bought the listing on eBay. Paid, payment cleared. But this guy isn’t used to receiving such large sums on PayPal right? Maybe they hold the funds. Maybe they take longer to deposit. Then he needs to go to his bank and pull out the 50k so he can go and actually physically pay the real owner of the item? Canada isn’t the States you can’t just walk in and ask for 50k. You need to go to 10 different banks and get 5k if you’re lucky. Or order the cash and wait around a week.
So after I pay, I’m likely only ever getting the item shipped out 10-14 days after? Now imagine the same guy buying (me) was doing the same thing. Looking to flip the item. Locked in the buyer, now I need to buy time for 2 weeks to keep him on ice?
Just imagining how financially destructive this all sounds for individuals turns my stomach upside down.
Another example, someone asked me to find him a buyer for a sealed WOTC box a few weeks back, I wasn’t interested at the time (big mistake on my part that’s for sure lol with the “new” price of that box) and I hooked him up with another buyer. Didn’t even ask for a finder’s fee nothing. My buyer friend tells me they agreed to some cash and some PayPal. The guy who reached out to me to help me sell the box, comes clean to me and says he just started “flipping” Pokémon, and he’s short the cash difference to pay the *actual* owner of the box… I go but you got paid right? He’s like yeah, but I ended up getting too much of it on PayPal and because my PayPal account is new they froze the funds for an extra period of time and now I’m in too deep I can’t pony up the rest of the cash to pay off the seller, can you lend me the cash to cover the bill?
I was dumbfounded. I told him to go borrow off the streets and pay the street rate so he could learn the hard way about fu$!ing with people’s finances and livelihoods. You made your bed kid, sleep in it!!
Haha sorry for the rant, I’m just continuously mind blown at the crap I’m seeing and I’m living right now. The system is entirely BROKENNNNN!