(Topic ID: 358242)

An open letter to the flippers

By SantaEatsCheese

87 days ago


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    Topic poll

    “Should the flippers let their pins go?”

    • Yes, let someone enjoy them. 25 votes
      66%
    • No, the market will recover even if I have to pay storage fees for 10 years to recover. 13 votes
      34%

    (38 votes)

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    24
    #1 87 days ago

    The past few years of pinvesting are over. The past few years where you could buy a NIB pin, throw it in storage for a few years and sell it are over. The years of being able to use your connections to get a pin early and sell it over MSRP are over. The years of being able to buy a pin, play it 6 months and sell it over MSRP are over. The manufacturers have caught up. That model is dead.

    The longer you hold onto a pin you haven't opened, the more money you will lose. If you have pins your are holding on to because you are upside down on them, time will not make the situation better.

    Its time to let them go. Sell your pinvestments at a loss. Do you really see your NIB pins going up in value now that the market can get pretty much any pin they want NIB direct from the manufacturer or a huge discount, $4-5,000 off an LE, $2-3000 of a premium, or $1-2,000 of a pro? In the next months that discount will become even larger.

    Face it. You've lost money. Sunk cost. Might as well let someone else enjoy it instead of hoarding it in a box in a storage unit your are losing money on every month. I've helped several friends get out from underneath large "pinvestment" collections that were not being used.

    You can sell/move/trade any pin you want to, but you will have to make compromises on price.

    Welcome to the new reality.

    To others, if you have a pin you are upside down on that you want out of. Sell it. Trade it. People will want it, but probably not at the price you paid.

    Just a reminder to folks that if you have pins you don't like... someone else will and if there are other pinball people around you, you can always trade them.

    #2 87 days ago

    Trying to scoop up all the bargain pinballs, eh?

    *grins*

    I approve of naked greed!

    #3 87 days ago

    I’m so new to this pastime. I didn’t know people did any of this investment type stuff. Crazy! I guess it’s kinda like a game to see if one can make a few bucks for some folks. I never even knew there was a resto market-it’s like restoring a classic car to better than new! I just enjoy playing and modding them. I’ll hold onto my small “collection” for the long run. I’m so damn new to this that I don’t see myself trading or selling for the foreseeable future. I hope this feeling lasts cuz I’m really enjoying my games and this community.

    All the best to y’all.

    10
    #4 87 days ago

    Crazylevi is going to love this. I’m going to go make some popcorn.

    #5 87 days ago

    Santa, you should start a pinball re-homing service to help with all those poor unwanted NIB pinballs.

    #6 87 days ago

    You woke up this morning and this is what you’re thinking about.

    12
    #7 87 days ago
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    #8 87 days ago
    Quoted from jahbarron:

    You woke up this morning and this is what you’re thinking about.

    This morning I walked past the Venom LE I just sold for someone at a $5,000 loss who I've helped get out of their "pinvestments". I see lots of pins for sale at unrealistic prices that they will never get. I know people who used to get 2 of the pins they ordered so they could keep one and sell one. I'm just trying to point out that while this may have been a good idea (from a profit standpoint) in the past, its not a good idea today and for those holding on to "pinvestments" like this, letting them go sooner than later will result in less of a loss.

    16
    #9 87 days ago

    I have $8200 ready for a Jaws Premium. Just saying...

    #10 87 days ago

    I see one guy who bought 2 Bond 60th. Now trying to sell one. What was the point?

    The greater fool theory?

    He just wanted to grab as many as possible so FOMO would drive the price up.

    I heard a story most likely it was made up but it shows a mindset.

    Back in the tulip mania there was a rare black tulip bulb one guy owned one and there was only 2 others in the whole world. So the guy bought the 2 remaining bulbs and crushed them into dust so his one remaining would be that much more valuable.

    #11 87 days ago
    Quoted from SantaEatsCheese:

    This morning I walked past the Venom LE I just sold for someone at a $5,000 loss who I've helped get out of their "pinvestments". I see lots of pins for sale at unrealistic prices that they will never get. I know people who used to get 2 of the pins they ordered so they could keep one and sell one. I'm just trying to point out that while this may have been a good idea (from a profit standpoint) in the past, its not a good idea today and for those holding on to "pinvestments" like this, letting them go sooner than later will result in less of a loss.

    Sounds like you're friends with a bunch of dum-dums with too much money. You're always out brokering for these fools.

    #12 87 days ago
    Quoted from jahbarron:

    Sounds like you're friends with a bunch of dum-dums with too much money. You're always out brokering for these fools.

    Those "fools" got me into pinball in the first place! I consider it a great perk to get to bring a pin into my home to sell for them when stuff needs to go and am happy to help them out. Also... alot of it I think was trying to stay on the distributor's LE list. Gotta be a guarnateed buyer to be "in" on future LE's. At least thats the way it was for a while.

    #13 87 days ago

    The days of people screwing over others has past in this hobby. Ans I think it is delightful. Go ahead, try to hold onto your new in box machines. The greatest games of all time are available right now. Jurrasic Park, Godzilla, Iron Maiden, Foo Fighters, Elton John. All these games can be purchased brand new, RIGHT NOW. What games could you possibly be hoarding that's better than those? The answer is none. Time to sell them, you turds.

    #14 87 days ago
    Quoted from SantaEatsCheese:

    Those "fools" got me into pinball in the first place! I consider it a great perk to get to bring a pin into my home to sell for them when stuff needs to go and am happy to help them out.

    Fools with benefits.

    #15 87 days ago

    Time to start throwing the bad ones off the roof...

    #16 87 days ago
    Quoted from PinRetail:

    Trying to scoop up all the bargain pinballs, eh?
    *grins*
    I approve of naked greed!

    You must have the cheek muscles of the Cheshire cat

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    #17 87 days ago
    Quoted from Kwaheltrut:

    Time to start throwing the bad ones off the roof...

    Someone stole a street fighter, proof there is no such thing.

    #18 87 days ago
    Quoted from SantaEatsCheese:

    The past few years of pinvesting are over. The past few years where you could buy a NIB pin, throw it in storage for a few years and sell it are over. The years of being able to use your connections to get a pin early and sell it over MSRP are over. The years of being able to buy a pin, play it 6 months and sell it over MSRP are over. The manufacturers have caught up. That model is dead.
    The longer you hold onto a pin you haven't opened, the more money you will lose. If you have pins your are holding on to because you are upside down on them, time will not make the situation better.
    Its time to let them go. Sell your pinvestments at a loss. Do you really see your NIB pins going up in value now that the market can get pretty much any pin they want NIB direct from the manufacturer or a huge discount, $4-5,000 off an LE, $2-3000 of a premium, or $1-2,000 of a pro? In the next months that discount will become even larger.
    Face it. You've lost money. Sunk cost. Might as well let someone else enjoy it instead of hoarding it in a box in a storage unit your are losing money on every month. I've helped several friends get out from underneath large "pinvestment" collections that were not being used.
    You can sell/move/trade any pin you want to, but you will have to make compromises on price.
    Welcome to the new reality.
    To others, if you have a pin you are upside down on that you want out of. Sell it. Trade it. People will want it, but probably not at the price you paid.
    Just a reminder to folks that if you have pins you don't like... someone else will and if there are other pinball people around you, you can always trade them.

    I’m not really sure who you’re trying to help out with this revelation.

    Quoted from SantaEatsCheese:

    Those "fools" got me into pinball in the first place! I consider it a great perk to get to bring a pin into my home to sell for them when stuff needs to go and am happy to help them out.

    So the people that passed this expensive hobby onto you are now getting out of it…maybe there’s a lesson to be learned?

    #19 87 days ago

    I spoke with someone recently who told me he was done buying NIB games because there's no money to be made by flipping them anymore and that the market has been ruined.

    #20 87 days ago

    Why help them or give any advice, let em learn the hard way and be it so bitter they never return.

    #21 87 days ago
    Quoted from BudManPinFan:

    I’m not really sure who you’re trying to help out with this revelation.

    So the people that passed this expensive hobby onto you are now getting out of it…maybe there’s a lesson to be learned?

    Maybe... but I'm having way too much fun with it. The NIBs I have at home (Bond/Stranger Things) are ironically from flippers, who traded me their NIB pins for my older pins. Half my pins are older than me.

    There is absolutely nothing wrong with buying a pin and making money on it. I've done it plenty of times. However if you are buying pins because you believe they only go up in value, you are going to have a bad time.

    #22 87 days ago
    Quoted from SantaEatsCheese:

    However if you are buying pins because you believe they only go up in value, you are going to have a bad time.

    Satan is right. Now if only houses started depreciating...ugh!

    #23 87 days ago
    Quoted from Beechwood:

    Satan is right. Now if only houses started depreciating...ugh!

    Houses are what smart people with too much money were buying during the pandemic.

    #24 87 days ago
    Quoted from Merendino:

    I spoke with someone recently who told me he was done buying NIB games because there's no money to be made by flipping them anymore and that the market has been ruined.

    Ruined or "normalized?"

    #25 87 days ago

    I simply CANNOT believe that someone would rather sit and look at their gorgeous #IMDN than sell it to me for like 5kish.

    michael-nouri.gifmichael-nouri.gif

    #26 87 days ago
    Quoted from DBLM:

    I have $8200 ready for a Jaws Premium. Just saying...

    Pretty sad when $8200 is considered as a good price for a premium..

    #27 87 days ago

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    #30 87 days ago

    Just like pre COVID, there will always be a few people in the hobby that will buy NIB and don't mind losing a couple of grand when they sell it after 6 months.

    So basically, we are back to the *normal* secondary market like every year prior to 2020.

    Older NIB games (2+ years) have traditionally been 10-20% higher than their used counterpart, but that doesn't necessarily mean 10-20% over MSRP!

    #31 87 days ago
    Quoted from Doctor6:

    Ruined or "normalized?"

    Ruined for him,

    #32 87 days ago
    Quoted from titanpenguin:

    Crazylevi is going to love this. I’m going to go make some popcorn.

    He must be off the grid for a few weeks. Been mighty quiet.

    #33 87 days ago

    No tears shed for NIB pinball flipper hoarders.
    Flush down

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    #34 87 days ago
    Quoted from rai:

    I see one guy who bought 2 Bond 60th. Now trying to sell one. What was the point?
    The greater fool theory?
    He just wanted to grab as many as possible so FOMO would drive the price up.
    I heard a story most likely it was made up but it shows a mindset.
    Back in the tulip mania there was a rare black tulip bulb one guy owned one and there was only 2 others in the whole world. So the guy bought the 2 remaining bulbs and crushed them into dust so his one remaining would be that much more valuable.

    The post covid pin boom, we saw lot of folks who were not dealers with still NIB LE sterns coming out of the wood work trying to flip them all the time. Folks saw pins as investments they could flip in a few months once they game was "sold out".

    #35 87 days ago

    I thought people wrote letters "TO" Santa, not the other way around.
    Also seems like most of your letters are "Open". Are you just trying to save on postage?

    #36 87 days ago

    It’s over

    #37 87 days ago

    Let them flip/speculate. Kenny Rogers always told me that you have to know when to hold them and when to fold them. Misjudging the market means that there will be less for counting when the dealing is done.

    #38 87 days ago

    My open letter to flippers would be STOP MISSING MY SHOTS.

    #39 87 days ago
    Quoted from SantaEatsCheese:

    The past few years of pinvesting are over. The past few years where you could buy a NIB pin, throw it in storage for a few years and sell it are over. The years of being able to use your connections to get a pin early and sell it over MSRP are over. The years of being able to buy a pin, play it 6 months and sell it over MSRP are over. The manufacturers have caught up. That model is dead.
    The longer you hold onto a pin you haven't opened, the more money you will lose. If you have pins your are holding on to because you are upside down on them, time will not make the situation better.
    Its time to let them go. Sell your pinvestments at a loss. Do you really see your NIB pins going up in value now that the market can get pretty much any pin they want NIB direct from the manufacturer or a huge discount, $4-5,000 off an LE, $2-3000 of a premium, or $1-2,000 of a pro? In the next months that discount will become even larger.
    Face it. You've lost money. Sunk cost. Might as well let someone else enjoy it instead of hoarding it in a box in a storage unit your are losing money on every month. I've helped several friends get out from underneath large "pinvestment" collections that were not being used.
    You can sell/move/trade any pin you want to, but you will have to make compromises on price.
    Welcome to the new reality.
    To others, if you have a pin you are upside down on that you want out of. Sell it. Trade it. People will want it, but probably not at the price you paid.
    Just a reminder to folks that if you have pins you don't like... someone else will and if there are other pinball people around you, you can always trade them.

    In my head this guy is reading this post…

    #40 86 days ago

    Just wait until Spooky announces Evil Dead or JJP announces Harry Potter. The scalpers will flip low numbers/early production machines. Fortunately It has slowed down but it will never go away completely.

    The for sale listings will have B.S. excuses similar to this.

    “My wife says it’s not allowed in the house ….our children will have nightmares!”
    Or
    “ Woofie the wunder mutt needs surgery! Reluctantly selling my spot!”

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