Quote:
Originally Posted by Peter_Spaeth
If the first sale of the Mayweather was real, and the buyer consigned it back to PWCC, then assuming a 10 percent fee on the second sale, the buyer lost close to 60 percent. Nothing unusual to see though.
|
While I realize, or at least assume, you're being facetious, I think you've hit on the disconnect. It really is nothing unusual to see here. This stuff happens all the time. You really don't think there are people out there who bought high and them panic sell when the market is crashing? Lol. Come on. Normally I'd think someone was joking with a comment like that, but reading through this thread, I don't think you guys are joking. It happens constantly in the crypto community. Every time bitcoin falls, some sizeable percentage of people panic sell. It's actually one of causes of steep declines and added volatility. The sports card market is no different. People buy high and sell low every day on eBay. Particularly the flippers. Just go check out Instagram and Podcasters and the YouTube community of all these "investors" and "flippers". It's also when I do most of my buying. When the market "crashed" after the Feb/Mar peaks, I started buying like crazy because so many people were panic selling.
Also worth pointing out is what card this is. It's a Floyd Mayweather PSA 9 RC. This is the practically the poster child card of the Gen Z flippers/investors/crypto enthusiast type. Alternative sports like boxing, wrestling, tennis, soccer, etc are all the rage with these guys now. And so is keeping their "investments" in a PWCC vault. And they go after the GOATS. This is precisely the type of card I would expect someone like this to buy. I wouldn't even be surprised if the person who paid 11k for that card in Feb at the absolute peak of the market and then panic sold it just 2 months later probably has never even seen a Mayweather fight before in his life.
If you think this is abnormal buying and selling behavior, you're simply just out of touch with a pretty significant faction of the market. This truly is "nothing to see here" activity.