The Bench 2008 YSL set

mrmopar

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It would have been cool to see a mention of The Bench site and the massive joint efforts put forth to complete the set for a charitable cause, including the time frame of over 10 years. I don't recall when it all began exactly, but it couldn't have been more than a year or two after issue, if even that far. I

t might not have made a difference, but you never know. The building of this set is a somewhat historic event in itself, although that may only be known to a handful of collectors who are members or who frequent this site.
 

katester44

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Final bid 3840.00


That number actually includes the buyers premium - actual sale was around $3,200.00 I believe. Definitely below what we were hoping for, but based on how long it took us to get the set together, etc., probably not as far below as we would think. In my head, I was thinking it would get to $5k. Had it completed 12 years ago, we probably get in the $10k-$12k range.

Thanks to everyone who contributed to the set. Thanks to everyone who supported The Bench while the set was built.

If anyone wants to try and build it again and go for a higher sale price/charity donation, I am up for it! :)

The check will be coming to me, already made out to The V Foundation, I will try and get them to give us some recognition, although, honestly, they were kind of grunches when I talked to them about helping us promote the set itself.
 

katester44

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Still a nice price for the set! We need a new drive for charity.......and something that can be done in one year! Best regards, David


I am open to all suggestions. Building a bit on this, would love to be able to do something like this every year and have a different charity benefit every year.
 

chaddie84

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I am open to all suggestions. Building a bit on this, would love to be able to do something like this every year and have a different charity benefit every year.
First thing that comes to mind would be a heritage master set. I'm not sure on the year, but some of those SSPs make for fun chase cards.

Thinking of big sets, remember 2008 Documentary? Not sure there's much value there, though...
 

katester44

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First thing that comes to mind would be a heritage master set. I'm not sure on the year, but some of those SSPs make for fun chase cards.

Thinking of big sets, remember 2008 Documentary? Not sure there's much value there, though...


Eventually we will open a thread up for suggestions - would like to have it figured out by January 1st. I am basically a Topps collector, so hopefully someone who sees more brands/sets will have numerous suggestions.
 

cardmonster

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Sale for charity was honorable idea and in big scheme of things that it really is what counts. But I have to admit that final sale price was underwhelming considering amount of effort made over the years to complete this set. Card market and activity on this site has changed greatly over the 13-14 years since these cards were issued.

Timing is a huge deal when it comes to sales price. In retrospect, moving cards in player lots even two years ago when card market exploded would have yielded $1 per card on common players and up to $5 per card on better players. Obviously tougher now due to new 1099 sale thresholds. But even auction houses will now result in 1099 from IRS. Goldin Auctions has recently had to report sales to IRS so more if not all auction entities will need to do this in future.
 

anglinomics

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Sale for charity was honorable idea and in big scheme of things that it really is what counts. But I have to admit that final sale price was underwhelming considering amount of effort made over the years to complete this set. Card market and activity on this site has changed greatly over the 13-14 years since these cards were issued.

Timing is a huge deal when it comes to sales price. In retrospect, moving cards in player lots even two years ago when card market exploded would have yielded $1 per card on common players and up to $5 per card on better players. Obviously tougher now due to new 1099 sale thresholds. But even auction houses will now result in 1099 from IRS. Goldin Auctions has recently had to report sales to IRS so more if not all auction entities will need to do this in future.
I Hadn't heard about a 1099 change in the threashold. Can you post the new threshhold? Thanks. Dave
 

chaddie84

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I Hadn't heard about a 1099 change in the threashold. Can you post the new threshhold? Thanks. Dave
For eBay, the ceiling was lowered from $20K and 200 transactions minimum to $600 with no transaction minimum. In my case, when selling on eBay, as soon as I crossed $600 in sales (which happened in late January), I had to provide my SSN (so they could generate the 1099), or they were going to withhold my funds. There's a bunch on info on this definitely worth looking into on eBay's forums (they are fighting the IRS on this, along with a bunch of other companies).

I'm pretty sure if you have an excess of $600 in Paypal (non-gift) transactions in a given year, you will be receiving a 1099, at which point you will need to make your case (offsetting costs) to the IRS for anything beyond a "digital garage sale".

Long story short, save your receipts!
 

anglinomics

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For eBay, the ceiling was lowered from $20K and 200 transactions minimum to $600 with no transaction minimum. In my case, when selling on eBay, as soon as I crossed $600 in sales (which happened in late January), I had to provide my SSN (so they could generate the 1099), or they were going to withhold my funds. There's a bunch on info on this definitely worth looking into on eBay's forums (they are fighting the IRS on this, along with a bunch of other companies).

I'm pretty sure if you have an excess of $600 in Paypal (non-gift) transactions in a given year, you will be receiving a 1099, at which point you will need to make your case (offsetting costs) to the IRS for anything beyond a "digital garage sale".

Long story short, save your receipts!
Thanks for the information. Paypal asked for my tax info this year, but I know I haven't exceeded $600. My sales have been curtailed since I got a 1099 from ebay in 2020 when I exceeded $1000.00, but I didn't have very many transactions.

Back to the YSL. Congratulations to everyone who made that happen. Thanks to Katester for handling the set and auction.
 

mrmopar

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Good to see it come to an end. Timing was probably a huge hit for it, taking so long unfortunately, but also an auction house may not have been the best platform to garner charity support. I'm sure it was best to find a buyer who wanted the cards/set though. Easy to armchair QB this one though, not so easy to make it happen for real and as said, nice to see it through to the end finally.
 

seawolf17

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Cool to see this project finally complete; I remember when all this started. Congrats to everyone who put in so much time and effort!
 

DaSoxFan

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This was a great project and had a lot of members involved in the completion of this lofty goal. Thanks to all those that pushed it through to completion.

I will probably still check .25 card bins for the Torre, it has to be an incredibly rare card.
 

David K.

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This one was for Cancer charity.....How about American Heart Association. We could donate high price cards (one per member) and once we have about 20 or 25. We could sell them. Cards will have to be in the $50.00 and up price range. Best regards, David PS members can support the charity by donating a card or bidding on the cards!
 

mechjo16

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I’m just noticing the set went to auction. I remember when we were all dumping our cards for this cause. It was a lot of fun. It would be cool for another massive set to be introduced.
 

katester44

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I’m just noticing the set went to auction. I remember when we were all dumping our cards for this cause. It was a lot of fun. It would be cool for another massive set to be introduced.

It was mentioned earlier in this thread. I am totally up for another challenge (and charitable donation) -- we just have to find the right set to run with. Needs to have some juice and a little bit of interest.

I like @David K. idea of donating high end cards, but feel like doing a set and having a story to tell is the way to go.
 
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