Price Setting

A worhty question! IMO, only time will tell if the new Brooklins will have an impact on MOC prices.

Many of us will remember that MOC prices skyrocketed about 15 years or so ago when a small handful of Russian collectors got into the market and started bidding against each other. Their seemingly bottomless wallets impacted MOC price for quite some time. Lately, things have settled a bit. Still, MOC has been the gold standard for detail for a long time. It's quite an astonishing feat considering when they were made.

How do we determine price? For me, it's always been "How much will I pay to get the model I want and how badly do I want it?" I think we can use "Sold" sales on eBay or on Vectis as a good indicator of what the market is. Hopefully, the new efforts on behalf of hobbyDB will be fruitful in helping us determine price in the future.

@jkuvakas John, I go through that same thought process with one additional layer... How many other models can I buy for that price? At times, I've backed off the higher ticket item when I realize I could get 2-3 other models from my wants list instead.

@randyrusk, LOL! I've never had that much self-control. I tip my hat to you.

Posted by: @kenspear

many of the most desired Motorcity models never sell through Ebay

Motor City models on ebay are like classic car auctions on Barrett Jackson.

Somebody that owns a base rusted out slant 6 1970 Coronet 4 door that has been sinking in the mud of his back yard for 40 years, watches a mint 1970 Hemi Superbee (same body style) with only 300 miles on it sell for $600k on Barrett Jackson, and thinks his base 6 cylinder Coronet should be worth as much.

And just like the guy with the Coronet, you have the sellers on ebay that have the early Motor City models that aren't sought after, but they see the rare and sought after Motor City models sell at high prices, and they price their not so desirable models at the same prices as the rare and desirable Motor City models.

@ben-lampson well said. This is why we research only sold listings.

I have always thought that 'sold' numbers tell only part of the story. For a popular item, take a look at where the third highest bidder called it quits. Did two bidders go back and forth reaching a stratospheric price? If so, imagine the next auction where that top bidder, having won, is out of play. Then, all things equal, the 2nd and 3rd bidders may end up at the same but much lower level as before, resulting in a more realistic value. Just looking at top bids on ebay may not give a true picture of 'value'. Christian Braun said that hobbydb uses an algorithm to reach a value - would be interesting to know the approach it takes.   

@mg-harv 

I always go with the ole saying 'Something is worth what somebody will pay for it'.

I am always watching the final price and that seems to work on 1:1 car actions and model car auctions.

Even most bidding wars will end at about where the car or car model should be in price.