Black Swamp Find E98 set break

[hshrimps]

I feel bad to the owner who owned the nicest E98 set from Black Swamp Find losing $200k+ in 5 yrs. Just the PSA 10 E98 Wagner alone already lose $130k.

Truly sad....... Anyone feel the same? Or it is kind of expected?

[ullmandds]

the writing was on the wall regarding this find...atleast to me. based on the shear # of high grade cards in this find.

this find changed the whole price structure for this issue.

[rjackson44]

with pete smart words

[hshrimps]

I guess it is expected but whoever can afford the nicest set together probably doesn't care the $200k hit..... probably can write off from taxes.

[sterlingfox]

I think it will eventually start going back up again, but it will take some time.

[ullmandds]

Originally Posted by sterlingfox

I think it will eventually start going back up again, but it will take some time.

nope...I disagree.

[ullmandds]

Originally Posted by hshrimps

I guess it is expected but whoever can afford the nicest set together probably doesn't care the $200k hit..... probably can write off from taxes.

agree. many in the hobby are still leary of these cards.

[pokerplyr80]

Originally Posted by hshrimps

I guess it is expected but whoever can afford the nicest set together probably doesn't care the $200k hit..... probably can write off from taxes.

I'm pretty sure he cares. No one wants to take that kind of hit regardless of their net worth.

I've wondered on finds like that if someone would be better off not announcing the big find and introducing the cards to the hobby one at a time every few months or so.

[Gradedcardman]

The cards were amazing but simply brought to market the wrong way. I am sure the owners of the cards wanted them all done quickly so they could capitalize on the novelty and immediate interest but many many dollars left on the table by not being patient.

[ullmandds]

Originally Posted by pokerplyr80

I'm pretty sure he cares. No one wants to take that kind of hit regardless of their net worth.

I've wondered on finds like that if someone would be better off not announcing the big find and introducing the cards to the hobby one at a time every few months or so.

exactly...if say a psa9 or 10 cobb or wags was put up for auction with no mention of the find it would have brought huge money as no e98 had ever been graded so high.

but then again...there were so many cards in this find that eventually the jig would be up...but those first few cards could have brought huge huge $$$$$$.

[sycks22]

Originally Posted by hshrimps

I feel bad to the owner who owned the nicest E98 set from Black Swamp Find losing $200k+ in 5 yrs. Just the PSA 10 E98 Wagner alone already lose $130k.

Truly sad....... Anyone feel the same? Or it is kind of expected?

I was debating making a thread that talked about this too. No way someone who spent over $300k on that Wagner thought they'd make profit on it. I think they were trying to cut their losses and move on.

[iowadoc77]

Originally Posted by sycks22

I was debating making a thread that talked about this too. No way someone who spent over $300k on that Wagner thought they'd make profit on it. I think they were trying to cut their losses and move on.

i think this makes a lot of sense. I am also with Pete on the plateau of these cards. i certainly would like them to go up, but won't hold my breath. I have the E98 set and it is pieced together with some BSF and most non-BSF and I think I am more optimistic about the future value of the non-BSF cards.

[rats60]

Originally Posted by hshrimps

I feel bad to the owner who owned the nicest E98 set from Black Swamp Find losing $200k+ in 5 yrs. Just the PSA 10 E98 Wagner alone already lose $130k.

Truly sad....... Anyone feel the same? Or it is kind of expected?

How much of this is because of who auctioned it off and how little it was promoted. Heritage made a big deal when they sold these cards. Do you think they would have brought more eyes to the resale? What about REA? Their auctions seem to always bring big bucks. Several people must have been bidding to get the Wagner up to 300k. Where are the underbidders or new investment blood? Did they even know the card was up for sale again?

[Leon]

Originally Posted by rats60

How much of this is because of who auctioned it off and how little it was promoted. Heritage made a big deal when they sold these cards. Do you think they would have brought more eyes to the resale? What about REA? Their auctions seem to always bring big bucks. Several people must have been bidding to get the Wagner up to 300k. Where are the underbidders or new investment blood? Did they even know the card was up for sale again?

I don't think the current sale was advertised well at all. If I were the consignor to that auction house I might have a conversation with them about where they market and advertise . That said, it is always the higher the value the greater chance of a big loss. When Heritage auctioned it, it was in all of the National headlines and very well advertised on this forum. (I am biased)

[rats60]

Originally Posted by Leon

I don't think the current sale was advertised well at all. If I were the consignor to that auction house I might have a conversation with them about where they market and advertise . That said, it is always the higher the value the greater chance of a big loss. When Heritage auctioned it, it was in all of the National headlines and very well advertised on this forum. (I am biased)

Not biased, but I don't understand why auction houses don't take advantage of the large customer base here. If something is advertised here, I am at least going to look through the auction to see if there is anything that I am interested in. The more eyes on an auction, the potential for more bids and higher ending prices.

[Leon]

Originally Posted by rats60

Not biased, but I don't understand why auction houses don't take advantage of the large customer base here. If something is advertised here, I am at least going to look through the auction to see if there is anything that I am interested in. The more eyes on an auction, the potential for more bids and higher ending prices.

The auction houses that don't advertise here usually have some baggage they don't like being discussed on this forum. And they know they get very little protection from it (as they shouldn't). Therefore their consignors suffer. I hope our members will continue to use our advertisers for their consignments and buying. There might be a new Net54baseball consignment service coming too. Who doesn't want their consignments to reach the largest audiences they can AND get the best rates too? That said I would also like to welcome Steiner Sports as our newest advertiser. Ya'll will be seeing more from them soon....

[MikeGarcia]

..".There might be a new Net54baseball consignment service coming too. Who doesn't want their consignments to reach the largest audiences they can AND get the best rates too?"


....I see a lot of beverages being sprayed out onto a lot of keyboards and monitors , if my reaction is typical....

..this is awesome to contemplate...thanks for even thinking in that direction...

..

[ls7plus]

Originally Posted by rats60

How much of this is because of who auctioned it off and how little it was promoted. Heritage made a big deal when they sold these cards. Do you think they would have brought more eyes to the resale? What about REA? Their auctions seem to always bring big bucks. Several people must have been bidding to get the Wagner up to 300k. Where are the underbidders or new investment blood? Did they even know the card was up for sale again?

Absolutely +1. The size of the auction, the number of target collectors they reach and the marketing are prime factors in the $$$ they bring at auction sale.

Regards,

Larry