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Bill Langs Passed Away

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Posted 10/17/2020   2:02 pm  Show Profile Check revenuecollector's eBay Listings Bookmark this reply Add revenuecollector to your friends list  Get a Link to this Reply
Keep in mind that sellers will frequently list high-dollar or high-profile items to procure clicks. The primary intent of those listings isn't to sell them, but as a marketing tool. The seller is perfectly content with waiting for an acceptable offer or selling it through a different channel (Posner is a show dealer as well), so they're not motivated to clear everything out at the lowest dollar possible, or even "current market value".

I have several items in my eBay inventory that I'm not inclined to discount heavily. If they don't sell at the price I want, I'm fine with not selling them.

Sellers are not obligated to price their wares in a race to the bottom, just as buyers are not obligated to buy from them.

Different strokes and all that.

That said, while Langs did price his wares to the moon online, unlike Posner, Momen, Malack, Nalbandian, and other "full retail" dealers, Langs was frequently willing to discount HEAVILY from the asking price, at times 50% or more. I purchased several interesting items from him over the years.

Not everyone agreed with his methods or business ethics, but they obviously worked for him... and that's really all that matters.
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Posted 10/17/2020   3:08 pm  Show Profile Check eyeonwall's eBay Listings Bookmark this reply Add eyeonwall to your friends list  Get a Link to this Reply
"and that's really all that matters"
???
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Posted 10/17/2020   4:39 pm  Show Profile Bookmark this reply Add widglo46 to your friends list  Get a Link to this Reply
rogdcam - I with you on this auction; I'll be sitting it out. I could only find one stamp in my area of interest that I would consider bidding on. Considering the risk involved with the material - I'd want to get a new cert, it's just not worth my time.
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Posted 10/18/2020   3:20 pm  Show Profile Check rlsny's eBay Listings Bookmark this reply Add rlsny to your friends list  Get a Link to this Reply
You guys go ahead and sit out. Less competition.
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Posted 10/18/2020   4:40 pm  Show Profile Bookmark this reply Add rogdcam to your friends list  Get a Link to this Reply
RLSNY - Just because of that I am going to bid. Kindly provide your lot list.
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Posted 10/18/2020   6:55 pm  Show Profile Check rlsny's eBay Listings Bookmark this reply Add rlsny to your friends list  Get a Link to this Reply
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Posted 10/18/2020   10:34 pm  Show Profile Bookmark this reply Add rismoney to your friends list  Get a Link to this Reply

rogdcam said:

Quote:
Case-in-point about Langs type pricing and the realities of a true market auction realization. I just received an email from Posner that touted 900 some odd "new US stamp listings". One of the photographed examples was a 119b, the inverted center 1869 inverted 15 cent pictorial priced at $12,995. Out of curiosity I looked for this stamp in Posner's Hipstamp listings and low and behold, there it was. The internal alpha-numeric identifier that Posner uses for his listings indicates that it was initially listed in 2017. Three years later or more there it sits. These regularly sell at Siegel and never get near that type of money. .


119b's are great stamps and relatively obtainable used.

https://www.hipstamp.com/listing/11...-17/34613919

https://www.hipstamp.com/listing/us...-20/32442744

This according to auction Siegel's Auction 737 Lot 460 1991-04-20 "1991 Rarities of the World" has an undisclosed pinhole and went for 5k then. Did the pinhole just magically disappear?

A reminder for folks to do due diligence.

First it went in Posner's 119b Siegel 956 lot 121 Siegel went for $8000. Then sale 1019 Lot 462 for $6250. 8 years later he's still is trying to unload it. Problem is the faults will prevent appreciation with better ones always on the market.

Markets have changed in recent years, and data points are available with just a few mouse clicks.

There is no positive marketing aspect of hyping a damaged stamp. That's bad marketing except promoting high prices for subpar stamps. You market things as saleable items.

You want marketing? How about leaving off the negative aspects...(sarcasm) (119b). Light cork cancel leaves frame and inverted vignette clearly visible, rich colors, small tear at left center, small closed tear at top right, two light diagonal creases, pulled perf at right not mentioned on accompanying certificate. Clearly no reason to mention the pulled perf.

Makes me sad. I have bought stuff from him, and think he has good material, but if you do plan on spending thousands research what you buy.
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Edited by rismoney - 10/19/2020 5:19 pm
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Posted 10/19/2020   1:27 pm  Show Profile Check KRelyea's eBay Listings Bookmark this reply Add KRelyea to your friends list  Get a Link to this Reply
Very interesting reading but I have a question. Approximately what % of Bill Langs material was description challenged? He must of had a lot of bread and butter items that were OK as listed? Are the questionable items 1%, 10% more?
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Posted 10/19/2020   3:30 pm  Show Profile Check eyeonwall's eBay Listings Bookmark this reply Add eyeonwall to your friends list  Get a Link to this Reply
Are you kidding us with the 1%?
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Posted 10/19/2020   3:56 pm  Show Profile Check KRelyea's eBay Listings Bookmark this reply Add KRelyea to your friends list  Get a Link to this Reply
I'm not kidding I have no idea, I never buy US.
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Posted 10/19/2020   3:57 pm  Show Profile Check 51studebaker's eBay Listings Bookmark this reply Add 51studebaker to your friends list  Get a Link to this Reply

'I'm not lying...I'm advertising'


Don
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Posted 10/19/2020   4:10 pm  Show Profile Bookmark this reply Add rogdcam to your friends list  Get a Link to this Reply
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Posted 10/19/2020   4:27 pm  Show Profile Bookmark this reply Add SPQR to your friends list  Get a Link to this Reply
How do you define "challenged" - does that include puffery? Or are you asking about outright misrepresentation. How about this eBay lot - "6LB11 #1 RARE COMBO COVER WITH PF CERT WL2640"
https://www.ebay.com/itm/6LB11-1-RA...AMXQt5ZRYqMJ
The description is factually correct - there is a PF Cert. However, the description omits to mention that the PF cert (scan in the description) states "decline opinion as to whether the carrier stamp originated"
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Posted 10/19/2020   5:49 pm  Show Profile Bookmark this reply Add rismoney to your friends list  Get a Link to this Reply

Quote:

Very interesting reading but I have a question. Approximately what % of Bill Langs material was description challenged? He must of had a lot of bread and butter items that were OK as listed? Are the questionable items 1%, 10% more?


Since the store is still in operation, and I have bought from him, I can just say this. I believe he truly believed he knew better than anyone about them. It was an ego driven operation. As far as the percentage, it's hard to say because of sheer volume. But even in this thread, even an amateur can find problematic listings. The scary part with this perspective, is then, how deep does it run into the fringe.

I think he acquired a lot of questionable material that he knew could be fairly easily misconstrued.

That's the scorpions alluded to above. Yes, there is obviously the unquestionable stuff too. He has a great collection amid the wackadoo stuff. The "bargain" in his store name, is a purposeful misnomer and should easily raise suspicion as I don't think there is a single stamp _listed_ at a fair market value (normalized percentage of scott). .


Personally I was hoping the missing Nixon stamps would turn up from the US v Robie case.


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Posted 10/20/2020   6:45 pm  Show Profile Check rlsny's eBay Listings Bookmark this reply Add rlsny to your friends list  Get a Link to this Reply
I bought a few things over the years from Bill. Made offers well below his asking price and he said yes. Met him at stamp shows. I was never disappointed in what I got - though admittedly I never bought anything over $1000 from him and so maybe just didn't reach the danger threshold. He did seem like a person with a big ego and was not one for long conversations. I've seen mistakes on eBay and I've seen him correct them when pointed out. I can't imagine being able to maintain an inventory that large (typically over 70,000 items on eBay at any given time) without making mistakes. My opinion of him is just not as negative as many have expressed here. I don't expect to change any minds but I thought it worth expressing another view.
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