To Sell or Not to Sell

29

Subscribe to Elliot's BlogAbout a year ago, I bought a new limited edition Hermes tie to mark the opening of their Wall Street store. The tie has bulls on the wide section and bears on the thin section, and it is lime green. Tonight I was feeling under the weather and didn’t go out, so I spent some time on eBay.
To my surprise, I saw the exact tie that I purchased on sale for $1,900. I also saw another similar tie in red selling for $250 (with 13 hours remaining), and the seller mentioned that he’s seen this tie selling for over $1,000.
So my question is this, do I try to sell the tie or keep it? I don’t need the money right now, but I also don’t need a $1,000 tie 🙂

29 COMMENTS

  1. *
    Before listing that tie on eBay, see completed listings to see what the tie actually sells for.
    That’s the price that really counts (just like the real selling price of domains).
    Anyway, good luck, and I hope you get a huge windfall!
    😉
    *

  2. For a tie! Definitely sell, the worst things get the more likely it is going to be that people start to wake up and realize that unless it is made out of gold no tie is worth anywhere near that price.
    When something has value based only on the belief that others think that it has value (branding, brand names, currency that is not backed by anything) when the crap hits the fan those are the things that loose value fastest.
    Hold on to that tie long enough and if things get bad enough you will see the day where it is not worth a bowl of cereal.
    Troy

  3. Sell that baby, hit Nordstrom buy another nice tie for $150, take your wife to dinner, see a show, return home and still have a wad of cash in your pocket.

  4. Sorry to say, but the tie showed in the eBay link is horrible 🙂
    Sell it, I wouldn’t keep it 🙂
    just a personal opinion!
    ***UPDATED BY ELLIOT***
    Trust me, the tie is a beautiful tie. I received more compliments on this tie than any of my others, and I have a pretty extensive collection of premium ties. Before I was a full time domain development guy, I wore a suit to work every day.

  5. I say keep it, let it remind you of how bad of times you had in the past, when having to wear a suit to work and only being able to afford a $ 1900 tie. :-)) LMAO
    Elliot you are some character. Made my day :-))

  6. Hey , I read in Fast Thinking magazine today that a designer sold out on $300,000 pocket watches that didn’t tell you the time but only told you if it was night or day.
    Thats it.
    He said he wanted to see if there were idiots out there that would spend that money for them.
    He concluded that there were…
    I’d sell the tie, while the getting is good and before the economy really eat dirt 🙂
    John
    http://unplain.com

  7. Here’s a fun challenge
    Sell the tie…and then see how much you can make out of the money from the sale by buying a domain/s and quick flipping them on…do it for a year and see how much you end up with 🙂
    post details about it each step of the way as things progress !
    …just an idea 🙂

  8. sell it and bet the proceeds on the jets winning the super bowl.
    ***UPDATED BY ELLIOT***
    I love how New York sports fans get over confident in the middle of the season. There’s a long way to go before the Jets even make it to the playoffs. For a team that was suppose to be playing so well, they didn’t exactly look solid against Matt Cassel and my battered Pats on Thursday.

  9. Don’t sell. Build a brick-and-mortar online business around the tie, not just a blog-site about the story. Here is one suggestion:
    Buy all of the same ties on ebay creating a lack of supply. Create a site about the ties and create massive demand for your hot commodity. Then sell all of those ties on the site for $3k each.

  10. Elliot,
    For perspective: Pretend you are broke and hungry. Your last remaining non-essential possession is the tie. Take the tie to your local food market and see if you can trade it for $1,000 worth of food. The answer to your question lies therein.

  11. Cut the tie up into tiny pieces. Now do the same with six of your older, rattier ties. Randomly bunch the pieces together into about 7 discrete piles. Have a seamstress stich them together into 7 new ties. Now sell them as Collateralized Tie Obligations (CTO). Tell prospective buyers that they will be receiving multiple compliments a day since this is an Hermes rated tie. You’ll make decent coin on this but now you are ready to take it to another level. You need to sell as many Tie Default Swaps (TDS) as you can, to whomever will buy them. ..

  12. @ elliot – your hermes tie could be used as a tourniquet for the pats – they’re bleeding and on life support – keep your head up – there’s always next year.

  13. I can’t believe there are these many comments about a tie/s! Although I would suggest selling it since your profit could mean another addition to your portfolio and another opportunity to make more money!
    I vote to stop impulse buying of ties! Lol
    Dan

  14. Develop the tie. This tie has great development potential. It can be a belt, a head band, even a handle for a laptop case. If you are in to the adult niche you could even make it into a few thongs. If you don’t want to do complex development like that, you could simply monetize the tie by putting ads on it.

  15. As a retired power seller on ebay. I will say do not bother selling it expecially now. The supply is way too much. That tie will give you better joy in the fact that it is a conversation peice than the few dollars you will raise from it in the current market. Lets not forget that asking price is not selling price.
    I may also add that I am a tie collector. I collect ties because I believe it is where a designer or an artist really goes nuts. it is amazing to see what this guys can do in a little piece of cloth. Might I add that I do not own any Hermes tie.
    So I will join the other in saying $1900 dollars for a tie! Way to go my friend, it is great to be able to afford the finer things in life.

  16. Don’t sell it. I assume the tie cost <$150 and if you don’t need the money, why sell? $1,000 won’t change your life but one day, wearing that tie might open a door for you…at the very least you’ll get a kick out of wearing it.
    If you sell now, and see someone else wearing one in the future, how would you feel?

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