The ultimate decision in any collectors life, do I sell or do I hold?
It is probably one of the hardest decisions you face in this world and it has the potential to really ruin your day if you get it wrong and let's face it, if you're in NFTs then you're definitely going to experience this at some point!
As a rule I try not to look up things that I have sold in the past, I don't think I could face the heartbreak of seeing something I sold reach the moon not long after I've sold it, that being said let me tell you about some of the winners and losers I've had so far.
As previously mentioned I'm not a rich guy so if you're expecting some massive numbers you're going to be disappointed but I will cover a couple from BAYC and CryptoPunks. The first good flip I had was with Rogue Society Bots, I managed to mint 2 for 0.19 ETH and decided I would list them straight away as the floor looked good and the reveal hadn't happened yet, this is prime time in the world of delayed reveals.
If you don't have loads of money and you need to sell to be able to continuing trading then this is one of the biggest decisions you will make as it can seriously impact your wallet. I had been in a few delayed reveals and it never worked out more profitable for me to hold so I chose to sell these Robots at 0.2 each, they sold pretty quickly and I had effectively doubled my money, this seemed easy!
For the first time since I sold them and for the purpose of this post I looked up how much they're worth now.... both have offers of 0.02, it looks like I made a great decision. Although one of them did sell for 0.33 the day after I sold it. One thing I have noticed, and this seems pretty obvious but I'll say it anyway, if the project doesn't sell out it really is a lottery as the floor price can drop quickly, if it sells out then it should be an easy way to make some quick ETH.
The whole reason I'm writing this post is because of something that I noticed today, I sold a Satoshible 12 days ago for 0.145, I had bought it for 0.09 so I thought it was an easy trade plus I needed the liquidity. By chance I stumbled across Satoshibles again and noticed the floor was 0.3, I think mine was something like #1500 rarity out of 5000 so I could probably expect it to be worth 0.4 ETH now. It even has an offer for 0.17 so I have certainly missed out on some profits, I've been thinking about it for nearly an hour now.
It's not a nice feeling, you think about the decision and blame yourself for selling so early, if only you had held on. At the end of the day we are here for the profits as well as the tech, so when you make a bad decision of course you're going to feel it, I'm just thankful it was on a low scale.
For all the annoyance that I felt after reading about Satoshibles floor price rising I knew there were people out there that had suffered worse than I had, genuinely heartbreaking decisions that could definitely cause sleepless nights! So I thought I would have a look for some to make me feel better, let's take this one for example:
CryptoPunk #8888 - Although 33.1 ETH is not a small sum of money, I'm pretty sure any of us would be happy to receive it, you can only imagine what "doh" is feeling now when after only 6 months the same NFT was purchased for over 2 MILLION dollars! That is life changing, that is the dream.
BAYC #9361 - This is probably a decision "Dazeee" will regret for the rest of their life, something they will tell their friends and family about and eventually their own children, it makes me feel sick just looking at it. A sale of probably around $3000 seems decent until you consider it sold for over $1,000,000 only 4 months later. Where are those diamond hands when you need them?
In this industry you are learning everyday, sometimes by your own decisions and sometimes from other people's. Even though my experience of selling is minimal I have gained invaluable knowledge about timing, floor prices, and what indicators to look for in judging whether it is best to sell or hold. Of course you are unlikely to ever know for sure what the right decision is but if you work by percentages you can give yourself a better chance of a favourable outcome.
I know I'm going to regret some sales and celebrate others, that's the nature of this game, so in my opinion the key points to take away for quick flipping are, if a project sells out then listing before reveal should guarantee you some quick profits, if it doesn't sell out then be wary of the floor price dropping quickly and sell if you need to, if not then strap yourself in and enjoy the ride.
God bless all those Diamond Hands 🙌💎
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