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Author Topic: Why do collectible stores do this?  (Read 1589 times)

Darth Cujo

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Why do collectible stores do this?
« on: June 17, 2014, 10:59:20 AM »

I popped into a local collectibles/comics shop here in Vaughan. Never been there before, but I was mainly looking for a source for the upcoming Planet of the Apes figures that doesn't charge an arm and a leg. No success on that front, their prices are too high. But I digress...

As I was browsing around this huge store (and it is huge as these kind of stores go) I came across a wall of pegs stuffed with green carded holo and freeze frame SW figures and a bunch of carded Ep I figures. And EVERY SINGLE one was priced at $59.99 each!! I nearly burst out laughing at the absurdity! These are the figures collectors can barely give away. The market for these is probably in the range of $3-$5 each. so the question is why? What's the point? They just sit and collect dust.

The only theory I can think of is they are hoping for some unsuspecting parent or grandparent who knows nothing about these things to prey on. I know this works since it happened to my mom once many years ago. That store lost my business forever after that, so really they lost in the long run. But is this their reasoning? and how often does this work?

As to other reasons, they could not have nearly that much invested in them to need to recover costs. And despite the hugeness of this store, they do not need more crap to fill it out. The place is overstuffed and cramped.  I get that in a given case assortment you need to balance the costs of peg warmers with more desirable figures by marking up to some extent, but when it is a 2000% markup over the market value, it just seems really odd.

I'm really curious, why have a wall of crappy figures priced at $59.99 each? Any store owners (current or past) have any theories? I'm genuinely curious!
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jjreason

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Re: Why do collectible stores do this?
« Reply #1 on: June 17, 2014, 11:07:08 AM »

My first guess is that they were supposed to be tagged 5.99 and someone screwed up the sticker-maker.
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ambasah

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Re: Why do collectible stores do this?
« Reply #2 on: June 17, 2014, 11:15:55 AM »

my guess as well. A lot of stores rip people off big time, but that is too ridiculous to not be a mistake.

I always laugh when I go to the TOYSTOYSTOYS near my work. They charge $20 or more for the exact same figs I can buy at TRU or Walmart.
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jediburrick

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Re: Why do collectible stores do this?
« Reply #3 on: June 17, 2014, 11:48:15 AM »

For myself, I would have go directly to the clerk and ask him how he can justify these pricings.
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Darth Cujo

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Re: Why do collectible stores do this?
« Reply #4 on: June 17, 2014, 01:44:16 PM »

Given the number of items there with grossly inflated pricing, a sticker error never even occurred to me. Also, that's a pretty large error and to be repeated maybe 100 times, it seems a staff member would have to be pretty clueless to apply that many of the wrong sticker.

Having said that, with the lack of knowledge of the staff I did speak to, it shouldn't surprise me. I'd already asked a few questions about other things and the staff's knowledge seemed to extend to what was directly in front of them. They seemed nice, but clearly not knowledgeable about collectibles, their values, the market etc.

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KaleDayspring

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Re: Why do collectible stores do this?
« Reply #5 on: June 17, 2014, 03:21:01 PM »

Recently I was traveling and stopped at a collectables place. They had some of the PM, some saga and some ROTS stuff. The PM stuff was averaging around $20 each, but the funny part was that there were a few that had the cover over UPC from a local discount chain on them. They were bought at $1.99 each.

I brought this to their attention and the owner muttered under his breath a bit and then asked if I was going to buy it. When I said no, his response was "So then what the hell is the problem?"

Now sure, if it had been the later runs which never made it out here to any stores, I could have accepted that. But these were the first ones, Qui-gon, Obi, Darth, 2 Padmes, and Jar Jar.

I can understand some things being pricey at collectors store.... if they are collectable. First edition Jar Jar is not. Unless it's to be melted down and used for a mold.
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sinkie

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Re: Why do collectible stores do this?
« Reply #6 on: June 17, 2014, 04:30:20 PM »

And the answer to that guy should be "The problem is you're a terrible business person and you've just lost any sale to me that I was about to make!"

His smarter answer would be simply to say that this is what he believed some collectors might pay for a figure that has not been in stores for about 15 years. Even if he is wrong at least he's not potentially losing himself business!

Thirdfloor

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Re: Why do collectible stores do this?
« Reply #7 on: June 17, 2014, 06:38:09 PM »

You should have brought 20 of them up to the cash register and let him ring them up, only to discover that you "left your wallet in the car" when the $1379.77 total came up.  Or you should have asked him if he's buying stock, I've got a few extra POTF2 and EP1 figures that I'd let him have for $30 each.
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napseeker

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Re: Why do collectible stores do this?
« Reply #8 on: June 17, 2014, 08:01:06 PM »

They wouldn't have bought it.  These owners aren't that dumb. They bought these for $2 and incredibly to those of us in the know, believe that they can sell these for a profit of 1000% to non-collectors.

Who knows, with a slew of Star Wars movies coming in 2015, it may renew the speculator market in SW merchandise and you'll draw in those dummies who are tricked into paying $60 (I also doubt that it was a pricing error, not on that many figures).  This is a situation where you have greed and arrogance on one side of the spectrum and potentially the equally greedy but uninformed/stupid on the other trying to speculate/flip down the road. None of this involves us. 

Either the owner will eventually go out of business because no one will pay those idiotic prices or he'll come to his senses and lower them.  For now, I'm sure he's operating on a wing and a prayer that there are enough dummies in the region that he'll sell at least one or two $60 figures a week and that alone could be justification enough for him to keep those prices where they are.

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Brent Peconi

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Re: Why do collectible stores do this?
« Reply #9 on: June 18, 2014, 11:54:23 AM »

My only question is... did they have any 1:1 Master Replica items... or a SSC 1:1 Yoda bust?

Even with marked up prices I need to find this stuff LOCALLY... cause the duties/taxes for cross border is KILLING me buying at a lower price on the secondary market.

Certain items it does pay off to pay an inflated price and get it locally. Carded figuresespecially Modern figures --> Stick to the forums. Even Vintage is at times better to pay an inflated price and get it in hand to prevent shipping/damage etc which you would otherwise not be able to recoup for upon receipt of your figure.  :character0007:

Dont get mad over these types of things amigo... just continue to be a savvy collector who knows that its someone trying to b.s you with pricing and calmly walk away. You'll go mad trying to "understand" those out there in the marketplace doing these kind of things.
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Darth Cujo

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Re: Why do collectible stores do this?
« Reply #10 on: June 18, 2014, 12:53:03 PM »

Not sure about Master Replicas as I wasn't looking for them, but I doubt it. I asked about Sideshow collectibles and neither staff member had even heard of Sideshow!

I certainly wasn't mad about the pricing there (hopefully my posts didn't give that impression). I do feel for the ignorant person looking to buy a gift for someone, but in this case I was more amused than anything. But also amazed. I really do wonder how a store stays in business with such goofy pricing. My guess is they have a steady flow of modern inventory that comes in and goes out almost right away and all the crap on the walls, in the showcases etc. with ridiculous pricing is merely for decoration and for people desperate enough to pay the premium.

I do agree that paying a premium on certain things is totally acceptable. Importing can be expensive, which is why I went in there in the first place. I need a local (or at least Canadian) store for my non SW Hasbro purchases. I really do miss Legends Action Figures. They were easily the best prices for Canadians on Sideshow products and were great for other things like Planet of the Apes that very likely won't show up at Canadian retail.

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DroidWorld

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Re: Why do collectible stores do this?
« Reply #11 on: June 18, 2014, 12:57:06 PM »

Many idiots think a Star Wars logo means $$$$$. Check out SW garbage on Craigslist. Some idiots sell, some buy. You only need to sell one per month at these ridiculous prices, instead of a couple a day.  That's his business model, we will see how it works for him. 
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