Please log in or register. Registered visitors get fewer ads.
Forum index | Previous Thread | Next thread
What’s the most expensive mistake you’ve ever made? 11:49 - Jul 20 with 8206 viewsIllinoisblue

I can hardly believe this but my sister-in-law may just have lost tens of thousands of dollars. Quite likely more. Allow me to explain….

Her son, my nephew (age 10) has a ton of baseball and basketball trading cards. Most of them he’s bought or received as birthday presents. No real value. However he has a couple binders full of cards from the early to mid 80s that were passed down to him from an uncle (not me). So he’s recently been sorting through those binders and came across a 1986 Michael Jordan rookie card. Produced by a company called Fleer.

Nephew twigged this might have some value, told my sister-in-law he wanted to sell it. He claimed to have seen it online for $1000. He’s all excited. My sister-in-law does not do any research of her own, takes nephew and card to a collectibles store where the owner quizzes her on where the card is from, how long she’s had it etc. And then (Red flag warning) says the words “this could be worth a lot of money”. Yes, a man who’s job it is to deal and trade such collectibles is telling you your card is very valuable. The next words out of his mouth were “I’ll give you $400 for it” which my nephew hears and is all excited about. They sell a Michael Jordan 1986 card in excellent condition for $400.

At this point, if this post was a Tik Tok this is when that voiceover would be playing “it was at this moment they knew they had fked up”.

A very quick search would reveal the same card selling for $96,000
https://www.nbcsports.com/chicago/bulls/michael-jordans-1986-87-fleer-rookie-car

And one that sold at auction for over $1milion
https://bleacherreport.com/articles/10038698-michael-jordans-fleer-bulls-rookie-

Best case scenario they’ve lost thousands. Worst case, hundreds of thousands. My sister in law has left the family group chat although my wife did speak to her briefly last night and she is distraught and in no mood to talk about it. The crazy thing is, another family member had last week told her about the process of grading trading cards and how you can pay $50 to get cards assessed to get an idea of value. This Jordan card even in bad condition is a $5k card.

Lesson of the story: do your damn research!


62 - 78 - 81
Poll: What sport is the most corrupt?

0
What’s the most expensive mistake you’ve ever made? on 14:21 - Jul 20 with 1812 viewsBlueBadger

Becoming a registered nurse rather getting into IT in the 90's.

I'm one of the people who was blamed for getting Paul Cook sacked. PM for the full post.
Poll: Do we still want KM to be our manager
Blog: From Despair to Where?

0
What’s the most expensive mistake you’ve ever made? on 14:21 - Jul 20 with 1809 viewsBlueBadger

What’s the most expensive mistake you’ve ever made? on 14:21 - Jul 20 by BlueBadger

Becoming a registered nurse rather getting into IT in the 90's.


I mean, I don't regret it, but....

I'm one of the people who was blamed for getting Paul Cook sacked. PM for the full post.
Poll: Do we still want KM to be our manager
Blog: From Despair to Where?

0
What’s the most expensive mistake you’ve ever made? on 14:22 - Jul 20 with 1803 viewsunbelievablue

What’s the most expensive mistake you’ve ever made? on 14:21 - Jul 20 by BlueBadger

I mean, I don't regret it, but....


Not a mistake then.

Le meilleur des mondes possibles
Poll: When booking a reservation at a restaurant/bar, do you give...

0
What’s the most expensive mistake you’ve ever made? on 14:27 - Jul 20 with 1792 viewshype313

2018/19 Season Ticket.
[Post edited 20 Jul 2022 14:27]

Poll: Should Muric be dropped?

4
What’s the most expensive mistake you’ve ever made? on 15:36 - Jul 20 with 1751 viewsZapers

I have a friend of mine in London, he's a commercial lawyer. Not making any promises but I will contact him and see if your sister-in-law might have some sort of recourse.
0
What’s the most expensive mistake you’ve ever made? on 15:47 - Jul 20 with 1741 viewsIllinoisblue

What’s the most expensive mistake you’ve ever made? on 15:36 - Jul 20 by Zapers

I have a friend of mine in London, he's a commercial lawyer. Not making any promises but I will contact him and see if your sister-in-law might have some sort of recourse.


I don’t think she has any kind of recourse at all, sadly. She wasn’t forced to sell it. Clearly the dealer is an asshole for doing what he did but being an a-hole is not illegal.

62 - 78 - 81
Poll: What sport is the most corrupt?

0
What’s the most expensive mistake you’ve ever made? on 15:50 - Jul 20 with 1730 viewsgiant_stow

ouch. Your poor sis in law.

Has anyone ever looked at their own postings for last day or so? Oh my... so sorry. Was Ullaa
Poll: A clasmate tells your son their going to beat him up in the playground after sch

0
What’s the most expensive mistake you’ve ever made? on 15:52 - Jul 20 with 1717 viewsIllinoisblue

What’s the most expensive mistake you’ve ever made? on 12:34 - Jul 20 by Fixed_It

Back in the late 80s I had a terraced house that needed to go on the market as I was changing jobs. The market was booming and prices were going up by the day before a change in stamp duty (or some such - I was young a naive back then). I put off putting it up for sale until I had a week's holiday as I wanted to repair a windowsill which had rotted.
By the time I put the house on the market of course the market had crashed. Sold the house several months later for about three quarters of the price. Bloody expensive windowsill...


Ouch. If it makes you feel any better we bought a house in 2006 for $350k and sold it in 2012 for $250k. Great times, really great.

62 - 78 - 81
Poll: What sport is the most corrupt?

0
Login to get fewer ads

What’s the most expensive mistake you’ve ever made? on 16:13 - Jul 20 with 1662 viewsgazzer1999

Believing Bliar over Iraq.
0
What’s the most expensive mistake you’ve ever made? on 16:14 - Jul 20 with 1662 viewsChondzoresk

This does happen. Especially in these collectible cards. There are even YouTube channels that specifically look for rare cards in yard/garage sales in the states.

There was a guy in the US that bought a Chinese Bowl for $5….it found its way to a Sotheby’s sale in Hong Kong and sold for $50 million….I could list these deals ad nauseum.

From a personal note I deal in collectibles and can do very well sometimes, but feel the dealer knew immediately what it was. A part of me thinks the dealer should have advised and perhaps the family should have researched further before selling.

Should anyone have anything collectible or an antique, please message me and I will advise free of charge any poster connected to TWTD. I will not buy, only advise. 👍🍻
3
What’s the most expensive mistake you’ve ever made? on 16:16 - Jul 20 with 1660 viewsIPS_wich

Having decided to settle in Australia after a couple of years of trying it out we put our house in the UK on the market and sold it in early 2016. We had about 275,000 pounds equity to then use as a deposit for a place down under.

We found the place and in late April 2016 brought over about 50,000 pounds for the deposit when the exchange rate was 1 pound = 2.10 Aussie Dollars.

Thought about bringing the rest over then, but decided to leave it in the UK until after the Brexit vote because all the predictions were there that Sterling increase in value after the expected vote to remain.

Long story short, a bunch of f***wits voted to leave, the exchange rate dropped immediately to 1 pound = 1.60 Aussie Dollars (it hasn't gone much higher since) and we had to bring the rest of the money over at about 100,000 Aussie dollars less than we could have done before the vote. The kicker was that reduction in deposit meant we got hit with a higher interest rate on the mortgage because the loan to value ratio went above a certain threshold.
0
What’s the most expensive mistake you’ve ever made? on 16:24 - Jul 20 with 1623 viewsJ2BLUE

What’s the most expensive mistake you’ve ever made? on 16:16 - Jul 20 by IPS_wich

Having decided to settle in Australia after a couple of years of trying it out we put our house in the UK on the market and sold it in early 2016. We had about 275,000 pounds equity to then use as a deposit for a place down under.

We found the place and in late April 2016 brought over about 50,000 pounds for the deposit when the exchange rate was 1 pound = 2.10 Aussie Dollars.

Thought about bringing the rest over then, but decided to leave it in the UK until after the Brexit vote because all the predictions were there that Sterling increase in value after the expected vote to remain.

Long story short, a bunch of f***wits voted to leave, the exchange rate dropped immediately to 1 pound = 1.60 Aussie Dollars (it hasn't gone much higher since) and we had to bring the rest of the money over at about 100,000 Aussie dollars less than we could have done before the vote. The kicker was that reduction in deposit meant we got hit with a higher interest rate on the mortgage because the loan to value ratio went above a certain threshold.


To be honest that just wasn't very clever. The vast majority of any potential gain was already priced in with remain the 1/4 favourite.

Truly impaired.
Poll: Will you buying a Super Blues membership?

1
What’s the most expensive mistake you’ve ever made? on 16:30 - Jul 20 with 1605 viewsIPS_wich

What’s the most expensive mistake you’ve ever made? on 16:24 - Jul 20 by J2BLUE

To be honest that just wasn't very clever. The vast majority of any potential gain was already priced in with remain the 1/4 favourite.


No argument from me - it was a stupid mistake (which is after all the topic for this thread).

I just reasoned that even a small 5-10 cents rise would get us another $20k - didn’t even occur to me there was a chance the leave vote would get up - but that’s the problem with not being in the uk - we didn’t really sense the tide of opinion was turning.
0
What’s the most expensive mistake you’ve ever made? on 16:40 - Jul 20 with 1586 viewsOldFart71

Couple of errors come to mind. Buying a caravan at Seashore Gt. Yarmouth for £25,000 and selling it three years later for £10,000. Buying a Saab convertible for £1800 having it a week and then hearing a knocking noise. Big end gone. Bought a replacement engine supposed to have done 35,000 miles. Garage which were repairing car phoned to say come and have a look at this engine. Decided no good, phoned the company had bought it off told them to take it away and send another one. Two weeks later another call from my garage. They had redelivered the same engine. Again phoned them up and asked for money back. They collected. Never ever received my money back. Company on Rogue Traders. So a car I paid £1800 cost me another £4000 to rebuild the original engine adding the cost of the rubbish engine at £1100.
0
What’s the most expensive mistake you’ve ever made? on 17:08 - Jul 20 with 1553 viewsJ2BLUE

What’s the most expensive mistake you’ve ever made? on 16:30 - Jul 20 by IPS_wich

No argument from me - it was a stupid mistake (which is after all the topic for this thread).

I just reasoned that even a small 5-10 cents rise would get us another $20k - didn’t even occur to me there was a chance the leave vote would get up - but that’s the problem with not being in the uk - we didn’t really sense the tide of opinion was turning.


Yea, fair play, when you put it like that, I can see the logic!

Truly impaired.
Poll: Will you buying a Super Blues membership?

0
What’s the most expensive mistake you’ve ever made? on 17:09 - Jul 20 with 1553 viewsLeoMuff

Telling my parents I didn’t want to be tied down with a mortgage when they offered to loan me the deposit on the £40k do er upper in the Bury st edmunds medieval grid circa 1993.

Few hundred grand in that one..

The only Muff in Town.
Poll: Lamberts rotational policy has left us....

0
What’s the most expensive mistake you’ve ever made? on 17:28 - Jul 20 with 1503 viewsSTYG

ITFC EDITION!

Bid for a house with my fiancee in 2001 that was £99,500. We'd been looking for months.

We split up a few days later when the realisation that it hadn't been working out and we were potentially being tied into a mortgage kicked in. I could afford it on my own (25 year mortgage) but decided I would not have the money to go and watch Town away, convinced we'd be back amongst the elite permanently and European trips would be regular things. So withdrew the offer.

How much would I really have missed in hindsight!

In 2009 the house was worth £170k and it's now worth over £265k. I'd be 4 years away from having paid off the mortgage FFS.
0
What’s the most expensive mistake you’ve ever made? on 03:46 - Jul 21 with 1369 viewsIllinoisblue

What’s the most expensive mistake you’ve ever made? on 17:28 - Jul 20 by STYG

ITFC EDITION!

Bid for a house with my fiancee in 2001 that was £99,500. We'd been looking for months.

We split up a few days later when the realisation that it hadn't been working out and we were potentially being tied into a mortgage kicked in. I could afford it on my own (25 year mortgage) but decided I would not have the money to go and watch Town away, convinced we'd be back amongst the elite permanently and European trips would be regular things. So withdrew the offer.

How much would I really have missed in hindsight!

In 2009 the house was worth £170k and it's now worth over £265k. I'd be 4 years away from having paid off the mortgage FFS.


Coulda shoulda woulda… still, some great football you’ve had to enjoy as you watch that house rise in price!

62 - 78 - 81
Poll: What sport is the most corrupt?

0
What’s the most expensive mistake you’ve ever made? on 08:29 - Jul 21 with 1285 viewsZapers

I touched base with my lawyer friend, he says that depending on the circumstances, your sister-in-law might well have a case against the buyer. He’s asked me to call him tonight and he will ponder further.
1
What’s the most expensive mistake you’ve ever made? on 08:37 - Jul 21 with 1276 viewssuffolkpoker

What’s the most expensive mistake you’ve ever made? on 08:29 - Jul 21 by Zapers

I touched base with my lawyer friend, he says that depending on the circumstances, your sister-in-law might well have a case against the buyer. He’s asked me to call him tonight and he will ponder further.


sometimes i do wonder about the greatness of this forum.
Good work Sir.

Poll: Should Hewitt play for the Gulls in the 2nd round of the FA Cup

0
What’s the most expensive mistake you’ve ever made? on 08:46 - Jul 21 with 1258 viewsLord_Lucan

It's unfortunate to say the very least but I cannot understand why the family didn't do some research.

Now I'm not saying the dealer has covered himself in glory here but if you were a collector and you saw that card at a car boot sale for £400, would you advise the seller that it's worth $96,00 and offer a more fitting sum?

Or would you buy it?

Edit - having given this more thought I think the dealer should have given maybe $10k
[Post edited 21 Jul 2022 9:26]

“Hello, I'm your MP. Actually I'm not. I'm your candidate. Gosh.” Boris Johnson canvassing in Henley, 2005.
Poll: How will you be celebrating Prince Phils life today

0
What’s the most expensive mistake you’ve ever made? on 09:13 - Jul 21 with 1220 viewsGiant_Midget

Stocks!

Last year I had my first go at buying stocks inspired by the Gamestop frenzy. I got in to 3 or 4 winners and soon a 4K initial investment was worth 30+ at one point.

The stocks lost value (2 significantly over night) and I decided to cash out and reinvest to try hit the 30K level again, around 10 failed trades later chasing loses by chucking money at garbage, I cashed out my account last week for 2.6K. I realise this is really a 1.4 k loss. But I feel sick knowing I was 26K up thinking the stock market was easy money.
1
What’s the most expensive mistake you’ve ever made? on 09:17 - Jul 21 with 1206 viewsSTYG

What’s the most expensive mistake you’ve ever made? on 03:46 - Jul 21 by Illinoisblue

Coulda shoulda woulda… still, some great football you’ve had to enjoy as you watch that house rise in price!


Pretty much went to all the away games in the relegation season and should really have quit then and bought a house anyway.

But no. I was convinced we'd be back up in no time. In fairness, the playoff seasons were some great away days. The Coventry comeback was absolutely insane. I'd somehow got completely drunk before the match and I never do that. I just remember limbs and that's it!

But then the Evans era. Wow.
0
What’s the most expensive mistake you’ve ever made? on 09:37 - Jul 21 with 1167 viewsChurchman

What’s the most expensive mistake you’ve ever made? on 09:13 - Jul 21 by Giant_Midget

Stocks!

Last year I had my first go at buying stocks inspired by the Gamestop frenzy. I got in to 3 or 4 winners and soon a 4K initial investment was worth 30+ at one point.

The stocks lost value (2 significantly over night) and I decided to cash out and reinvest to try hit the 30K level again, around 10 failed trades later chasing loses by chucking money at garbage, I cashed out my account last week for 2.6K. I realise this is really a 1.4 k loss. But I feel sick knowing I was 26K up thinking the stock market was easy money.


I did a similar thing with the Dotcom boom in around 1999/2000. I’d got a really good redundancy payout from my previous employers and was working for an IT company so had, for the time, good internet access.

Right thought I, I’ll take 10% of my redundancy money and take advantage of the tech boom. I did my research (the hell I did) and bought stocks in various likely companies. All was well. The values went up like an Otis lift. Marvellous thought I. I could make a career doing this! No I couldn’t.

The dotcom bubble burst and my paper profits went down the pan in the blink of an eye. I did sell out in time to get most of my stake money back, but what a waste of time.

For sheer loss of money, I’ve made a few mistakes with car buying over the years. The maddest was buying a Rover 214. A pitiable car that was so badly made it beggared belief. Add in a not very good (K series) engine and useless Rover car mechanics and 6 months after buying it, they damaged the camshaft and ruined the engine. After a fight, I managed to get Rover to pay for it, but the car was so bad I sold it 9 months after buying it for a rather tasty loss. Sh** happens
[Post edited 21 Jul 2022 9:39]
0
What’s the most expensive mistake you’ve ever made? on 09:53 - Jul 21 with 1139 viewsblue62

I think I have been quite fortunate in property, buying and selling at the right time. But cars are another matter.

Had my eye on a lovely TVR Cerbera back in the early 2000s eventually after peering lovingly at it through the garage window for many months decided I could just about afford the £23,000, I had my dream car.

Then a number of technical issues beset the dream car which cost over £5k to fix followed by a divorce and the need to sell to fund a property. 16 month later managed to sell for £12,000 so all in all it cost me £1000 per month over the 16 months I owned it.

Was fun though.
0




About Us Contact Us Terms & Conditions Privacy Cookies Online Safety Advertising
© TWTD 1995-2025