Posted By:
Mike MasinickHey guys, just saw this thread.
First off I want to clear up some misconceptions. It's NOT all about money... it never was. Of course it's somewhat about money, but what isn't in this hobby?
Ask anyone who got involved in the marketplace if they know more about the history of card collecting and the history of sports than they did before and I guarantee they will say yes. So saying that "people who bought only did so as an investment" is completely false. They did it to be part of a community... and they did it to enjoy the COMMUNITY process of buying high end cards. Cards they they could only look at before they now were able to have input in pricing and the other aspects of buying and selling.
I am about 150 cards into my T206 set now... a set that I never would have started if it weren't for this marketplace and the interest I found in the T206 rare backs. And there are countless others who have begun collecting pre-war cards after being introduced to them by the Partial Shares Program. We had over 600 individuals buy a share at some point in the program.
That said, from a business standpoint there were simply too much risk and for little potential reward. I'm sure all of you who regularly buy and sell high end $5000+ cards can attest that not every transaction goes well, and CardTarget was taking virtually all of the risk to pass any eventual rewards on to our shareholders. It's just not a practical way to do business and it was the main thing that we had not anticipated when opening the marketplace.
I truly believe in my heart that it was not "all about money", and I'm sorry that some of you can't see past your own collecting prejudices to believe that others CAN get enjoyment from owning a little bit of a nice card without seeing it in their house or safe deposit box.
Anyway, I appreciate all the help that the net54 community has given us over the years. In the short term CardTarget.com is going to be re-focusing on our eTopps program to enhance our eTopps marketplace, but I guarantee you'll see us in the "cardboard" arena again in the next few years with some offerings that should certainly appeal to more of you.
Any cards that haven't been sold in the next week will be put up for auction. Most of the lower value cards and cards with fairly set price ranges will likely hit eBay while the rarer and more expensive cards will be consigned to a major auction house. This will likely be a consignment of 15-20 cards worth $80-$100k. Please contact me if your auction house is interested in taking this consignment. Thanks!
I hope to see you guys at the National... Thanks guys,
Mike Masinick
mike@CardTarget.com