Posted By:
Bottom of the NinthBarry,
It seems to be nothing but an ego driven exercise with no thought about what the cards are really worth. Highest GPA wins. End of story. Personally I think it is a poor use of money and a guaranteed investment of diminishing returns but most are not in this with the focus of cards being a vehicle for an investment. I am sure on some level they were attracted to collecting for the same reason that most of us collect but they have the luxury of having lots of disposable income.
There is a joke amongst many of the dealers who service these collectors' sets that graded card auction catalogs could really be reduced to 1/5th of their size since the only thing that needs to be pictured is the 1" x 3" top of the holder.
These guys do not collect, they buy. I am sure that for their budgets it is a lot of fun too. Many of these guys make more in a month than most people make in 3 years. So if they buy a 53 Bowman Lockman PSA 8 for $7,800 and then 3 more are released to the wild and it becomes a $3,200 card on the open market, does it really matter?
Greg