What would YOU do?

[archstanton]

Welcome to What Would You Do?  Hi, I'm John Quiñones.  I'm wondering what would you do if you were to come across a listing for a very valuable poster on eBay that was priced at some ridiculously low price by a seller completely unaware of its value.  For instance, let's say a middle aged woman inherited some old stuff from her grandpa, and in it was an original The Mummy one sheet or something, and to her it meant very little and she had no concept of it being a cherished collectible.  She then throws it on eBay for $100, thinking that price may be high. 

Do you buy it and consider yourself a hundred grand richer, or do you quickly tell this person the mistake they're making? 

That was an extreme example, but let's say then that it's a C9 Jaws and someone puts it up for $100.  Do you tell them they could probably get $600 pretty easily, or do you take advantage of their ignorance and Buy it Now!? 

Any experience doing either?  Tell your surely interesting tales. 

[Simes]

All of this is predicated on your knowing that the seller on ebay, who is trading behind a nom de guerre such as HammerBlow, is in fact a little old lady with wrinkled hands and a kindly smile with a collection of woefully heart breaking stories.

But you won't.  HammerBlow could just as easily be a thief who cleared out a house.

Push to shove, if one knows the person, one is more likely to kindly inform.  If not, one is more likely to buy and then flip (if one categorically believes in the capitalist free market).  And then if one is actually interested in the poster itself, a collector would be a fool not to just hand over the $100 and walk away.  No gloating permitted though.  Everyone has to leave the exchange feeling happy.

And so to answer your question, the above is what I would do.

[basemem]

I agree that if it was someone I knew, then I would let them know.

In your extreme example and based on everybody using an eBay alias it would be very difficult as Simes points out to know the circumstances of the sale. Do I ever believe an item description on face value, not really. I use my own judgement, Caveat Emptor rules. However, as a collector I would probably buy it and add it to my collection. Would I consider myself richer in terms of monetary wealth, no but I would consider myself richer as a collector for owning a piece I would never have been able to afford, yes.

A recent example for you a Star Wars Pre-Oscar UK Quad on eBay - http://www.ebay.co.uk/itm/252916937578. Listed at £100 BIN. On face value a bargain, considering Bruce auctioned one in March 2014 for $997.00. The awards release sold for $446.00 in Nov 2015. Did I buy it - nearly. If you look in the authentication thread Paul Waines said of the seller "I've had problems with this guy before, check the Bad sellers list, he's a right conman..".

[bigmike]

If its someone I knew, I would let them know.
Otherwise, if its a poster I wanted. I would buy it. Of course, I would do my homework first to make sure its legitimate, etc. But you got into the hobby, and finding a bargain is part of being in the hobby (unless you want to over pay most of the time). Why is it okay to pay way overprice to a seller, and not get a bargain once in a while?
Due diligence on the seller as well. If they are selling something, ideally they want it gone or should probably do their homework as well.. I never seen on Storage Wars(even though the shows fake), them obtaining a unit, and then returning it to the original owner because they got a good deal
JMHO 

[Crazy Vick]

I look at it from a broad perspective, for example I pick someone's collection, or buy stuff at estates sales, sometimes on a whim not knowing really what the exact value of that particular piece/collectible is, or if it will ever sell (posters as well as other shit). I might pay too much or get stuck with a bunch of items unlikely to sell.  So once in a while, when I can recuperate my investment through randoms "scores" I generally don't feel guilty.  Most of the time I am basically working through an intermediary (auction houses --the crappy ones, estate sale companies) so they are partly the assholes I am screwing as they should know better.