Vinnies op shop pulls 'rare' $1,000 item from store after 'outrageous' discovery
Two Harry Potter books spotted in a glass display cabinet at a Vinnies store in Lane Cove, Sydney, caught the eye of shopper Mat, who runs a website teaching Aussies how to flip undervalued products found in op shops.
The books — Harry Potter and the Deathly Hallows and Harry Potter and the Half Blood Prince — were listed for $500 and $1,000, respectively. The books were labelled as rare first editions, but Mat argues they're actually "far from it".
"By the time these two books were published, Harry Potter was incredibly popular, so the print runs were massive," he told Yahoo News. "Deathly Hallows had an initial print run of 12 million copies, making it the biggest initial print run in history," he said.
"To be selling one of these 12,000,000 copies as rare and hard to find is just plain wrong," he added, comparing the print run to the size of the male population of Australia, which is just over 13 million.
"I wouldn't exactly call it rare and hard to find," he said. He believes these items would list closer to $10 if sold online.
The price of first-edition books is determined by a number of factors, including rarity, condition and demand. A first-edition hardback copy of Harry Potter and the Philosopher's Stone, the first in the series, would fetch thousands at auction because only 500 copies were printed initially.
After Yahoo News approached St Vincent de Paul Society (Vinnies), the charity shop confirmed the two items were pulled from the shelves, admitting that the advertised pricing was made in error.
The apparent accident comes as all charity shops are facing scrutiny from everyday Aussies, with some arguing prices are too high, and the stock is of increasingly low quality.
Shoppers have reported seeing Anko, a brand exclusive to Kmart and Target, selling in charity shops for a higher price than it was originally sold for. Some items are priced so high that shoppers say, "it's cheaper to go to Kmart" than visit the historically low-cost stores.
However, many charity shops are facing an epidemic of low-quality donations, and are regularly inundated with so many piles of used items that they have been forced to refuse new donations after having broken furniture and damaged homewares dumped on their sites.
A spokesperson confirmed to Yahoo News that the overpriced Harry Potter books at Lane Cove have been removed from sale due to their incorrect pricing and said the process around pricing of its first edition and prestige titles is being reviewed.
When questioned about its pricing policy, a spokesperson for St Vincent de Paul Society NSW told Yahoo News: "Pricing in Vinnies NSW Shops is determined by affordability for customers as well as the quality of the goods on sale.
"Our shops use a simple pricing guide based on research on value in the general second-hand marketplace and the quality of the garment."
The spokesperson added the "principal purpose" of Vinnies Shops is to raise funds for the services that the charity provides to those experiencing disadvantage.
"These include homelessness services, domestic and family violence shelters, health services, and the work of our members in communities all over NSW by supplying food, clothes, and everyday essentials to people in need," he said.
Last financial year, 200,000 people accessed support offered by the charity, which spent $96.4m in homelessness, housing and mental health, disability and inclusion service provision, including $13.7 million in direct financial and material early intervention support.
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Charity shopper Mat told Yahoo he spends his days scouring op shops looking for "interesting and unique" items, with a particular interest in books.
"Books are a category that's often overlooked by thrift stores despite being a goldmine," he said.
He admits to finding and selling popular book series and signed biographies online for profit.
"In April, I found the complete nine-book Ringing Cedars series. I spent $4 each, $36 total and sold them in June for $900," he said.
Last year, he said he found a signed copy of Olivia Newton-John's autobiography for $8 and sold it less than 6 hours later for $200.
The experience has taught him "what to look for" in a book, and shares the information on his website Flip Weekly "so that other Aussies can make some money".
"The Harry Potter books weren't reasonable as it was based on incorrect information," he said.
"I don't mind if a charity store looks up an item and prices based on its current market value, my issue lies solely with outrageous pricing based on flawed or incorrect research, which is happening more and more."
Despite the incorrect pricing, Mat believes that independent charity stores are still a good place to search for hidden treasure.
"There's still a ton of treasure to be found in charity shops," he said, adding Aussies can still "get lucky" in stores like Vinnies, Salvos and Savers.
"Just avoid the glass display cabinets and anything else they've labelled rare and hard to find," he said.
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