Quote:
Originally Posted by Rhotchkiss
Seems that the market for the high-end and/or rare versions of blue chip HOF cards is being reset. Seems this is the new normal, not just for T206. Seems card collecting is moving evermore into the realm of investment and away from being a hobby.
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NOOOOOooooooo! Not you, too, Hotchkiss?!?!?!
Was bidding on a Lajoie Portrait PSA 4 last night, I'm sure many people saw it. Ended at $1,325. Prior sale to that was REA at $1,600.
This was a $600 card earlier this year, and the year before that, and the year before that...
With all the talk of "Investment", do we really believe that all of a sudden, and it has been pretty much all of the sudden in the last handful of months, that there's a new group of "investors" with seemingly endless bankrolls that are happily forking over double/triple the prior sales prices for equivalent (and in many cases THE EXACT SAME) cards?
Kind of like the Lajoie, I guess we all just had it wrong for years and all of sudden they've got it right? They either put in ZERO price research (highly unlikely), or they just don't care (totally unlikely).
This has all the signs of 2016 again. That run up wasn't just the blue chip 50s/60s RCs either, it went well beyond that.
I would simply encourage everyone to be very careful right now.
I've spent my entire career in and around real commodity markets - energy, ags and softs, interest rates, currencies - the behavior going on right now is NOT NORMAL, and the overwhelming majority of these cards are NOT RARE ENOUGH to explain the size of the changes we're seeing.