N28

[Archive]

Posted By: brian

i just heard from a reliable source that a set of N28 just sold privately for $35,000. It was missing only one card (a wrestler) and was raw with average condition of excellent. Even with the baseball players in the set, it sounds like somebody overpaid. There was also a set of boxing cards that was sold in a separate deal between the same two parties but that is off-topic here so I'll go post it in the boxing forum.

[Archive]

Posted By: barrysloate

If the transaction took place, it sounds like the buyer was misled into believing the set was a lot rarer or more valuable than it actually is. Those things happen all the time.

[Archive]

Posted By: Andrew S.

I agree with Barry and also think that too many hobby-ignorant investors and rare-metal dealers are getting involved in pre-war vintage buying right now. Last week I heard that some idiot paid 240K for 206 different T205 cards that weren't graded either, even though they were supposed to have been EX/NM with very little corner wear.
An 1887 Allen & Ginter set only has a few baseball cards in it and shouldn't sell for anywhere near that amount.

[Archive]

Posted By: David Smith

Andrew,

Maybe the "idiot" is planning on using the cards as a tax write-off (buying them now at a high price and selling them later at a lower price).

Also, maybe that person is laundering money. Back in the 1980's, I heard drug lords were buying high priced automobiles (Ferrari's) at ridiculous (sp?) prices and then selling them later at a loss. This was just to launder their money and make it look legitimate. Later, some "investors" noticed the sharp rise in some Ferrari prices and started buying thus creating a frenzy. Then, the drug dealers were bying cars and then legitimately selling them for a profit. So, they got away with laundering money AND making a profit at the same time.

I don't know about the laundering money part but I DO know that I tried to get my Mom and Step-Father to buy a couple of run-of-the-mill Ferrari 330 GT 2 + 2's in 1986 ot 1987. The sellers were asking $16,000 or $17,000 for them. Unfortunately, my parents passed on them. A year later, those same cars were selling for $35,000 in the same condition. They could have just sat in the garage and doubled in price in a year.

Maybe with card and memorabilia prices going through the roof, some drug or other criminal aspect is buying them because they remember what happened in the late 1980's with cars? I mean, a few years ago, paying high prices for sports memorabilia would have opened some eyes but now, it is common place and not as likely to have law enforcement looking into it.

David

[Archive]

Posted By: Jeff Mohler

David, I will have to be on the lookout in Reading tomorrow and sell my t206 dupes to the shady looking characters that are hanging around.....or would that be Ted

Jeff

[Archive]

Posted By: JimB

With all due respect, why are we putting down someone's purchase with only second-hand information (at best) about the deal and without having seen any of the cards? Is there a purpose here?
JimB

[Archive]

Posted By: David B

I have been gathering the 50 card N28 set for a year now. I need only five cards to finish the set. So far I have spent less than $8200. The five cards I still need are some of the more expensive; Kelly, Comiskey, Keefe, Ward and Mulvey. But even overspending I could pick up these 5 for in a PSA 5 grade for under $5000. So far my cards, graded and self graded, average a conservative 4.5. Hate to say it but sounds like someone has overspent by approx. $20,000. I've noticed that several N28's have been going up in price but not near that much. Just my .02.