CNN card story
 

Investors/Speculators/Gamblers then a few of us left who are hobbyist.....my oh my 2020-21 has taken this to a new level.

Read that this morning.

Very thankful I was did some heavy buying 3 yrs ago. I have done no buying since the pandemic. I few holes I wish I filled when I had the chance. I suppose I will be on the sidelines for awhile to figuire which way this will be headed or perhaps the ship has sailed and I am priced out for good.

I am a lowgrade collector, I can't imagine the choices some of the upper tier collectors are facing, as there is some serious money being thrown down.

There have been multiple major media stories on our hobby lately.

Sure sign of a market top?

With utmost respect for Ken Goldin, but whenever I read a quote like,"I wouldn't go anywhere near the word bubble," that just seems like I'm being sold something. Yes, there may be 100 people trying to buy an MJ rookie for every one person in 2019, but will that demand be sustained for this year and the years to come?
As the story notes, the boom has it's roots in the pandemic. At some point, the pandemic will subside, and what happens with demand then?

I mostly go after eye appeal myself, Low grades have typically been my bread and butter. Especially as I reentered the Hobby in 2019. I think the term "Serious Money" is relative but I would tend to agree. Serious Money to me is anything over a few thousand at this point in my life. As I try to allocate money for a house, and sock some away for retirement. Before the Pandemic Boom when I saw a 52 topps Mantle in a 1, going for the 10K mark, I was saying to myself "I can defintely get this card in a handful of years, It'll be rough, but it's possible"

Now with a PSA 1's being listed for over 30K it looks less likely as of this moment. I say "As of this moment" because if there is one thing I've learned on here, specifically, it's that collecting is a lifelong Journey. Market will rise and fall, and sure it's very easy to regret purchases not made, but at the same time it is what it is.

I'm in it for the long haul, I'd imagine most of these "Invstors" and "Flippers" are not.

Wow, Jig step, dance, hoot and hollar! Not buying now, bet tickled pink to sit tight on what I have. Bet we have a lot of happy campers that frequent this site - holding some darn nice stuff. Congrats to all!

Mixed feelings here: The financial benefits of a coterie of investors getting into cards versus the inevitable inability to collect what I want due to being priced out. I am watching the rise in value carefully; if my collection reaches a certain price level I am selling out and sticking with everything 1970s from when I was a kid instead.

Do you suppose we could get these investors interested in boxing cards? Please??

Have boxing cards not enjoyed a bump? I'm curious if there is a modern equivalent to boxing cards, such as MMA. Do you track anything like that?

I agree Adam. I have to admit, I have wondered if the smart play is to sell and see what happens down the line.

Garth: with the exception of a few issues of a few fighters that have gone nuts, there has been modest but not startling price increases. That said, the supply of many older issues, especially from the 19th century, has diminished dramatically. People just are not selling.

Dean: if it was just about money, I would agree, but it isn't, at least not yet for me. As I said, though, it might get too good not to sell out. If I could take the post-tax proceeds and tell the fine folks at Wells Fargo to shove their mortgage up their corporate oubliette, well, that would be another story.

The nice thing is that sleazy, scummy Wall Street banksters sticking their blood funnels into the hobby would actually be a step up from the usual collection of con-men, frauds and thieves we are used to dealing with.

Ah, CNN. Next. No, I am not a follower of Fox News.

Wish that would fit on a t-shirt or bumper sticker...

The nice thing is that sleazy, scummy Wall Street banksters sticking their blood funnels into the hobby would actually be a step up from the usual collection of con-men, frauds and thieves we are used to dealing with.[/QUOTE]



I think it maybe the opposite. It might bring out even better fakery and worse dealings. Ive seen it in other hobbies, increase in demand + high dollars = shady dealings

Fox News already covered one person a couple of months ago Of course it was on Pokemon cards

https://www.fox5atlanta.com/news/stu...raduate-school

Sure, sure. It's a disease. I have sold my collection no less than 3x and here I am again.

Mel and Tim said it best in 1972:

https://www.youtube.com/watch?v=LDtPrJIxB68

Regards
Rich

Just remember, most people don't read to the end of an article.....where the warning about boom and bust cycle actually is located within this article. I remember that people loved beanie babies, too.

I did make a purchase this month due to FOMO. I thought, geez, if I don't get it now, will I ever be able to afford it?

Jealous.

CNN.
Chicago Tribune.
All this raging over modern cards.
Prices soaring.

Key ingredient in an asset bubble? "Irrational exuberance."

Reminds me of skyrocketing home prices in Vegas, Phoenix & Miami, etc, circa 2006.

Did you read the article? Goldin says he wouldn't call this a bubble... winky face emoji

Sent from my SAMSUNG-SM-G930A using Tapatalk

LMFAO. Trade ya some Beanie Babies for the T206s you have left. :rolleyes:

Heh, me too. Last HOFer I can reasonably afford in the 1952 Topps set.

Here is my conundrum. I am 15 cards away from finishing 1955 Topps and 2 cards away from finishing 1968. I just cannot wrap my melon around sports cards being an investment. I mean, logically, yes I get it. But, with my collection, there is too much emotional involvement to view it as on par with stocks or annuities.

So, when I see the prices that the Clemente and Ryan rookie cards are selling for, I just shake my head and move on. Could I afford them at current prices? Yes, but I can't do it. That kind of money is significant enough to me that I prefer to put it into an asset I have absolutely no emotional attachment to.

So, to get back to my opening, I think I would be perfectly happy to fill those binder slots with reprints and call it a day. If the bubble bursts, great. But, if it doesn't, that is fine also.

I wonder how many people are considering taking profits and selling their collections aggressively into the strength ?

I've seen a lot of people selling, just my observations from here, Facebook groups etc. Some opportunities are too good to pass up, especially if it's a card or cards you're not particularly attached to.

Certain cards hold certain memories for me. I have a Raw 53 topps Willie Mays. It would probably grade a 2, if I slabbed it, I could sell it for a decent chunk of money, probably to fund the next card that I want, but I remember buying that card with my own money, as a kid, on my first trip to Cooperstown. I couldn't possibly sell it. It means to much to me. I get Nostalgic for those sort of things.

I'm sure others feel the same way, but on the flipside I'm sure there are people out there, taking advantage of the status of the market. No wrong way to go about it!

This is what happens in an entirely unregulated market. First come the fake sales, a tried and true scam in our hobby (either unpaid, or bought via proxy, as guys will happily pay a small percentage fee to change the optics and sales record on a card they own many copies of)...

Then people start buzzing: “You hear X card went for THIS MUCH?!” That creates legitimate Fear Of Missing Out among collectors— who now scramble to grab cards they’ve always liked in desperate hopes of staying ahead of the manipulation wave. Yet this behavior creates its own price spikes.

Alongside these elements comprising the perfect storm of today, you have sellers who witness these massive numbers and say, “Screw it.” So what do they do? En masse, they all raise their prices on cards that were fake sold. So now buyers’ eyes get “anchored” to the new optics, the new numbers.

You also have the self anointed new bosses of the hobby, online snake oil hucksters trying to be your life coach and tell you what to buy (which they own). These guys direct the lemmings to their “stock picks.” This is a separate dynamic from the aforementioned fake sellers who buy many copies of a card then fake sell it or buy it in various venues to get the higher price to “take” or stick.

And yes, there are some fractional ownership companies out there now cherry picking some higher end items. And perhaps there is even some truth to the notion that there are “funds” out there, but not major hedge funds with 5 billion under management— rather a few million in pooled funds that guys want to use to make some money. But overpaying grossly without regard for eye appeal or pricing history isn’t really what Ivy League money does to make money.

The guys who profit from this climate try to write off all this activity as “The Wall Street Hedge Fund Guys” coming in. Invoking the specter of Gordon Gekko and thinking we will shut our brains off. But the real Gordon Gekko’s and their firms don’t play with cards. They don’t wake up and go, “I’ve never been into cards before and don’t know anything about them, but I like sports so let me throw a ton of money at stuff.” That is not how smart, rich people shop. Bad actors out there don’t just want us to buy into this false caricature of “the rich man who has so much money, he doesn’t care, it’s a rounding error to him.” They want us to believe an army of this fictitious creature has descended upon the hobby.

Anyways, you brew all this together, and what we get is today. And to be sure, this storm does indeed generate some “real” sales.

Ultimately, a binary set of reactions emerges. We can be happy our cards are worth more— but we may find they are not, if we try to legitimately sell them. And many collectors love their collections and do not want to sell, which renders their new worth moot.

Or, we can realize that this mess is fundamentally toxic to the market and hobby, and to a collector its only real effect is rising prices for what you’d like to buy.

So pragmatically speaking, more money is coming out of collectors’ pockets. A collector wants to keep his collection and add to his collection, not sell his collection or pieces of it into a storm largely whipped up by unethical actors. I don’t know many guys shaking pom poms and jumping for joy because the value of cards they have zero intention to sell has allegedly gone up. They’re looking at the cost of what they’d still like to buy— and when they look into the cause(s) they see lots of shade in a market with zero regulation.

I’ve found a path to staying happy is simply continuing to enjoy my collection, and refusing to add cards that I feel have been swept up in the storm surge. I enjoyed my cards when they would have lost me money upon selling, and I enjoy them the same and not an iota more now that they might make me some loot if I sold. Because I’m not a seller. Nor am I some quasi-pseudo wannabe day trader mini Gordon Gekko who conflates his cards with stocks. I’m a baseball card collector. And I can choose to not be a buyer. Which renders the madness moot. When there’s a storm or bad weather I’ll hang inside and have a blast enjoying my cards, so it’s still all good.

Extremely well said. Completely agree.

Brilliantly Put Brother...

The sad part is many are buying the BS and Don't Even Realize they’re being Taken for their Money and are considered suckers.

PT Barnum Had it Right.... there is a sucker born every minute

I beg to differ....in part
 

I am the first in line for a good conspiracy theory. That said I find it hard to wrap y head around the idea that the supposed manipulation you speak of is stretching as far and wide as the market shift appears to be - across all auction houses and EBay, across all sports and must be hundreds if not thousands of different cards. That would have to be one hell of a level of organization.
That said, I agree there are multiple instances of manipulation and shilling and people just trying to create suckers out of many. I just choose not to believe that is the majority of what is going on.
If you look at the relative values of baseball cards compared to other more mature collectible categories, the values of the "top of the market" stuff hasn't been in the same league (pun intended). As I have shared in many prior posts - the card market ultimately is one of simple supply and demand economics. There is no question as to a finite supply -whether 3, 300, 3000, or 3000000. So demand and price are the 2 fluctuating variables here. I do believe the majority of the demand spike is real. Will it last? A lot better shot on low population items. 300+ PSA 10 Jordan rookies? That one would be making me nervous.
I believe some of the price spikes we are seeing will stick. I believe others will not. Time will tell.
Buy with your head, not over it and buy what you like!

This resonates with me. I prefer to investments where there is no emotional attachment. I invest in what I know and use the huge body of information in the public domain for research to increase my understanding.

Sports card investing is really investing in a personality. In some cases, like Babe Ruth, there is some safety because there is likely nothing about the personality that is not already known. But, too much of the hot sports cards are associated with extant people. And the investment could be wiped out in an instant when new information comes out. In an example from outside the sports card world, someone who "invested" in Kevin Spacey early in his career would have been real happy with his return in January 2017. But that "investment" would be worthless by the end of the same year.

I agree much of what we are seeing today will stick; some waters may recede a bit, and other hitherto “slept on” cards may even wind up getting more deserved appreciation in terms of attention — and then further rising in value if collectors all feel that way and act accordingly with their wallets. Just to be clear, in my post I do not point to one type of manipulation as the cause for this current climate, and I also take into account and acknowledge how once Fear Of Missing Out is ignited by fake sales, that very powerful dynamic alone leads to price spikes across the vast sea of different cards. And those rising prices can certainly be viewed as legitimate, despite their initial spark. As to fake sales, there are myriad guys out there pulling fake sales with myriad cards; it’s not just one cadre by any means. It is when all these many ingredients come together that we get what is happening today.

"This is now part of our culture," Goldin said. "I wouldn't go anywhere near the word bubble."

https://1.bp.blogspot.com/-fTW-q4h7L...s160/laugh.gif

Reprints? What the big deal? That's a great set! I don't collect sets anymore, but I used to love that one. Get BACK OUT THERE AND BUY, BUY, BUY. :DSurely you could justify cards like these? How bad could it be to finish the thing up? You must have many hours into it?

So good question, and I did research on one card which was part of the initial explosion of modern basketball card prices.

The 2018-19 Panini Prizm Silver Prism (what Topps calls a base refractor) Luka Doncic RC. Initially it started selling in the hundreds when they were first getting graded. Then the "bass card/Prizm revolution" started happening and the cards shot up to the thousands fairly quickly. My thoughts at the time were that this is unsustainable, and that every new card graded would flood the market and the price would crater. That doesn't seem to be happening based on this graph. This specific card is being absorbed into the market at a rate of about 2 cards selling for $8K each EVERY DAY. There are ~2000 PSA 10s of the Luka Silver Prizm, and almost 2000 PSA 9s. The base chrome/Prizm of the same card has nearly 16K PSA 10 copies, and those are averaging $1200 each selling gobs every day.

That is mind-blowing, and it's only one example. There was a thread only last summer (mid-2020) about the $42K sale price for a PSA 10 1986 Fleer Jordan RC and was it too much? As we all know, they shot to $100K, then $200K, and the last couple have sold for $700K. But there are many less of them than there are Doncic Silver Prizms.

They fixed the PSA multi-lot sales and the graph is much more readable now

There are a whole lot of people who actually collect cards. The manipulation (if that is the case) doesn't really affect them because they've seen it before and they aren't being stampeded into crazy purchases. When it gets to be too much they stop or substitute something else.

I do agree that news stories notwithstanding, the idea that new wealth is going into cards whole-hog is silly. A few investors are targeting extremely expensive cards for securitization and a few 'influencers' (hate that word) are egging it on, but what they do has as much bearing on what most collectors do as the price of a new Ferrari does on the purchase of a minivan.

The one exception is 1980s and newer basketball, which is really being pushed by collectors from overseas. No one is chasing Earl Monroe cards in Germany, but the Dream Team guys and newer, absolutely. I have seen German card shows and know collectors in Europe, and the collectors there are crazy for soccer and American basketball cards. There is a hell of a foreign fan base from 30 years of NBA marketing and broadcasts and the integration of great foreign players (Ming, Nowitzki, Doncic, The Greek Freak, etc.) into the NBA. I don't have more than a few, so I am not cheerleading my cards, but I see great potential that is legitimate and divorced from bubble-stuff, and I don't mean the silliness with the super-duper 1/1 inserts that catch the headlines. What was an $800 Star Jordan a year ago may be legitimately a $3000 card because the competition from overseas collectors looking to add a Star Jordan card is real in the international sales era of eBay.

Are there shills and manipulators and games? Absolutely. But there were also a ton of cards that were legitimately undervalued.

I bought carefully for years and have lost out on cards that went up significantly. I actually made a couple of impulse buys lately because, quite honestly, I want to reap the benefits of the gravy train too. Probably others have done the same.

My cousin (twice my age) has sold away his 70s rock and roll memorabilia on ebay. He went to Seattle to see the big shows and would take home some of the promotional posters he saw on the wall. He bought the albums, bobble heads, and much more. He said more than half of his sales were shipped to Europe other oversea countries. He said overseas buyers would contact him asking to end the auction early and they would offer XYZ dollars. It's just amazing what the desire for American culture can be in Europe and Asia, which drives our markets, and leaves US collectors wondering where the hidden buyers are located.

I don't think there's any conspiracy about it. MattyC's post had more to do with factors, avenues of investing, and who the supposed "gurus" are. I do agree with the rest of your post about supply and demand. I would even go so far as to say that there could be 5000 PSA 10 Fleer Jordan RCs, and it's price would still be going bonkers due to his image and popularity.

MattyC's post reminded me of the supposed JFK Sr quote, "When I was getting stock advice from the shoe shine boy I decided it was time to sell." MattyC, IMO was spot on discussing factors. The avenues of investing in sports cards has grown significantly due to social media, youtube, and population reports (which are highly inaccurate and misleading). This has led to an influx of new investors in our hobby who are inexperienced, and an influx of snake oil salesmen. Savvy new collectors will learn for themselves. But there are many blind investors who are willing to forego common sense and stick with the self proclaimed "prophets." All of the workers at Enron knew better than to narrow their stock portfolios by investing only in company stock, but they did it anyway. And they got burned by "those in authority."

Im buying vintage hockey

I think that's a smart move. Granted I don't follow it too much but Gretzky and Orr have been bringing in big numbers, I'd imagine guys like Bobby Hull would be next

I find the shrieking odd.
When it was vintage going gang busters 20years ago/19/18/17...counting down until today, some people mildly said surely this wouldn't last, they'd wait it out, prices would drop and then they'd buy in.
But it never has.
In fact, vintage is also rising in factors.
But it's beloved here, so somehow it's understandable that a peck and snider red stockings can cost what it does.
But modern? Sheesh, MUST be manipulation.

For guys who collect cardboard and pay the prices you do, for lets say a red cobb of which there are thousands, but pay multiplyers because of different ad on the back, to screech about modern and parallels or color border or background differences making those more valuable by multiplyers....is inane.

You realize it's ALL cardboard right?
And just pictures of sporting players adoring them?
And that today's populace might have a connection to the sporting heroes of their day more so than ones they never saw live or in nothing more than stilted moving black and white is logical, right?

While there are ALWAYS unscrupulous or questionable practices going on in ANY valued commodity, check out the number of unique ebay members trading cards on ebay. Then add social media sites.
The rise in prices is because this is no longer considered an oddball way spending your hard earned, and with greater competition comes driven up prices.
The extreme high end goes up by a factor, there are people with lots of money for whom paying double doesn't change their lives and they must compete against other similarly well heeled collectors.
But the rest is generally collected by people just like you and I. Perhaps with less hobby history, but who love owning and looking at a cool sports card every bit as much.
Do people not want to miss out, on the assumption prices may continue to rise? Sure. I did the same when my wife and I bought our first house.
It seemed impossibly expensive to entertain, but it was clear waiting would only INCREASE our dilemma and we wanted to enter the market.

Someone above posted they can't imagine intermingling their 'investment' with their nostalgic joy of their collection.
I'm the opposite.
When I buy a home I buy it because I love it, AND i believe that because I love it my good taste will be reflected by others also loving it down the road when I need to sell it.
That gives me comfort, to be invested in something I love owning and cherish and ALSO believe will have great tangible down the road return.

Super surprised that guys who invested heavily into one sector of the hobby can be so truculent about your sibling part of the hobby.

Sorry - you missed the boat!

You said this so well. There are three or four cards that I had been watching since 2019 waiting for nice versions that I missed out on when things took off in 2020. Yes, I can afford them now. I think a lot of it has to do with the fact we have all been collecting for so many years, that the card that was $400 two to years ago is now $3000. Just hard for me to fork over that kind of money when I know what it was two years ago. Even though I can afford it. And I agree, I just don’t think of these as investments. I know they are, but when you’ve been collecting for 30 years, it’s hard to think that way.

Also it's not just cards. Vintage movie posters are seeing some unreal prices recently as well.

I had a rather disturbing and perhaps emblematic inquiry from a buyer on an expensive card. In context, the card is a hot one and I decided to push the envelope and ask for a BIN price above the most recent sale a grade higher than the one I had. They guy first bombarded me with emails asking to buy the card for 25% less, which I ignored. I will just quote his last email so you can see what it is:

"Hi, I ended up hitting the buy it now. If it isn't too much of a problem, can I pay on Monday or Tuesday? I'm trying to get it on my next credit card cycle. Wife is killing me with this months bill as it is."

I am not this guy's keeper so I am not going to cancel the sale but when people are going into debt and hiding card purchases from their wives, that's a warning sign as far as I am concerned.

This is a disturbing bad trend, people starting to get irrational. Believing all the hype, I hope this settles down back to reality.

Irrational exuberance. Where have we seen that before? People buying cards that they have no business buying, frothy popular press stories on the gold rush aspects of cards, lines out the door at card stores. Sounds like the last expansion wave of a bubble.

A lot of bad patterns are setting up.....Certain things are going to remain safe just like certain things are very dangerous. People can be their own worst enemy.

When everyone is buying it’s a good time take a breather and back off. If you miss it you miss it. If it fundamentally doesn’t make sense to me I can’t buy into it. Going up sure that’s natural, not at these levels and not in this grand scale. It’s not that easy everything doesn’t always continue to go up, some people are believing it does those are the ones that may get hurt doing ridiculous stuff.

There are some cards that I think are just fundamentally worth having for the long term. I don't see them worth enough yet to justify selling right now and taking the tax hit when I think they will be worth good money when I retire and start selling to supplement my income. Some cards are from my childhood collection. I have no interest in selling those ever; pry them from my cold, dead fingers or just toss them in the casket with me. But the rest? I don't see much choice when I can do 500%-1000% in a few years of holding or less. It is a conundrum for a collector. Better than the opposite problem for sure... ;)

Your potential warning sign reminds me of the one Joe Kennedy received, and acted on, a few weeks before 1929’s crash. A few weeks before the crash, Kennedy overheard a shoeshine boy intelligently discussing the market and giving tips. Kennedy famously stated, “[w]hen the shoeshine boys have tips, the market is too popular for its own good.” He exited the market soon thereafter and saved his fortune. Will you do the same?

I have been...see above post. But

https://photos.imageevent.com/exhibi...e/franklin.jpg

FYI:

In my other world, the one where most collectors exist, the prices on TOPPS FREAKING SERIES 1 Boxes are just out of control. Mind you this is TOPPS FREAKING SERIES 1, The flagship product for this sports card hobby.

https://www.dacardworld.com/search?S...es+1+Baseball+

Note: $29.95 is not totally terrible for a blaster box as after taxes it this is about 25 percent higher than if you bought it at a big box score.

Note the prices on the Hobby Box (Double SRP) and Jumbo (not sure what original SRP was)., And yes people are paying these numbers for these boxes.

Regards
Rich

Just look what the MSRP on a box of Donruss Basketball Hobby is at... Topps must be a bargain?

Hoops is just as crazy. I'm thankful I try to stay with baseball.

Rich

Hi rich and lamelo ball at $200 holy cow lol

During the mid '90s, I met countless "shoeshine" everyday people who thought they were Wall Street experts, and others (who also noticed that) that were using the same kind of Kennedy Sr. quotes to assume that stocks were ridiculously overvalued at the time.

There's a lot of selective memory used sometimes in remembering how accurate such indicators are. The reality of markets is naturally often a lot more complex and extremely difficult to predict.

For cards at the moment, I think the key to the vault is: "will this be just another junk wax fad, or will the renewed interest in the hobby be more of a mainstay"?

I admit that I really wonder what the answer might be to that. And if that were to go wrong, also fear for the possible downside of the endless string of PSA 9s and 10s of '80s - modern superstars that are worth 10 times what they were a year ago.

But I'm not gonna try to outguess the future too much

The shoeshine boy reference is more of an economic signal in terms of level of risk taking and level of demand over stocks for pieces of paper with registration numbers (stk certs)

I do find it funny as much as Wall Street have been waiting for the retail suckers to buy their large cap tech stock, they are getting derailed because these investors are instead speculating in Bitcoin, micro cap (weed, solar, ev...) names and SPACs. Now these same Wall Street egos are watching Bitcoin in angst. (We were so hesitant to put gold in our mandated portfolios before Bitcoin, let along pulling the trigger on Bitcoin now). If you look at proclaimed pm’s on Twitter, many don’t hold Bitcoin, but they are definitely following it on their follows...

But to bring back to topic, I find the analogy of prewar (to appease bird sticklers) versus modern to gold versus Bitcoin. The former is natural scarcity versus manufactured scarcity. The former is historically stable, but the latter is more in fashion. And most obvious, the former is significantly underperforming the latter. Time will tell.

I’m overweight prewar and gold...

good analogy!

Another less-frequently mentioned issue is the possibility of the next MLB lockout. That's one thing that really killed the 1990s card boon; the strike-shortened 1994 baseball season.
Everyone's saying the demand is here to stay, but a strike showed everyone back then just how fleeting that could be.

And if bitcoin and the other digital currencies crash, it could pull a lot of easy money out of cards. A rising tide lifts all boats, but a low tide hasn't happened in a long time. We've basically been in a bull market for stocks since 2008.

I completely agree on this point. Seems like the elephant in the room, especially for the modern speculative market.

I can't definitively say if Bitcoin will crash or not because I'm not knowledgeable enough about the subject. Still blows my mind that a currency backed by nothing is worth so much :confused:

Would be interesting to see if we get a repeat of history, if in fact we have another lockout again.

It’s all about demand. Regardless of whether it’s code of 0’s and 1’s where you cannot request physical settlement, or pieces of paper with dead men on it (as my wife calls it). Off my soapbox, finished my workout. Take care guys.

I contend that the US dollar, backed by the “full faith and credit of the United States Government”, which is wickedly insolvent and digging deeper with stimulus, is backed by nothing.

Yes.

Huggins and Scott Auctions has a sister company in the same building which is a card shop. It's been amazing to me to see all the different types of people buying in to the hobby. Tons of young people, many more women and people of color, folks from all walks of life. Their question is invariably "what should I invest in?" Fascinating.

Hopefully this guy doesn't try and get a refund through eBay's generous refund policy in six months if the market drops significantly by then. That's one aspect of selling expensive cards through ebay that has scares the heck out of me.

The only difference I see is they wear nicer clothes.

Lots of people are looking at cards and other alt investments because they are disgusted with the banksters. Wall Street is a rigged casino we are stuck with if we have retirement accounts. I wouldn't put a dime into their garbage if I didn't have to do something with my tax-advantaged retirement accounts. If I could I'd pay off my house instead but the rules have been structured by Wall St. lobbyists to prevent me from lending myself the cash and paying myself interest instead. I can't even invest in alt stuff unless I give those pigs a slice of it via fund fees. I am by no means advocating cards as investment vehicles, but Wall St. retail investment is a sucker's bet too.

Dean, eBay recently terminated 'remorse return' rights on cards. As long as i get it there in one piece he can't just hold it and then months from now decide to return it. I do see the point, though, which is why the vast majority of my sales are now through AHs or private sales, and if a big card is involved I insist on payment via check or MO or cash or Zelle. No recourse.

The baseball issue will be important but frankly a bit less important than in 1994. Baseball is still the leading part of the market but,,, the older rookie cards are in flavor as are soccer and basketball cards thanks to overseas interest. Football just signed a 10 year deal so they are in good shape.

And have you seen the Pokemon market?

Rich

Plenty of ways to force a return, either through INAD by scratching a card or slab once you receive it, or by telling your credit card company something so you get access to the 180 day window.
The remorse return thing will only keep honest people from returning cards. So I wouldn't hang my hat on that.

This is just one data point, but:

For February Round 2, PWCC has 18 Ernie Banks 54T rookies cards going live tonight.

EIGHTEEN !!


https://www.pwccmarketplace.com/curr...ge=50&page=311


Similarly, SEVENTEEN 1955T Koufax RCs.
7 of the 17 are mid-grade PSA 4's.

https://www.pwccmarketplace.com/curr...ge=50&page=312


But:
Only one 51B Mantle
Only two 51B Mays
Zero 52T Mantle
Zero 33G Ruths
only one T206 Cobb
zero vintage Honus Wagner cards.
______________

Is this a random occurrence?
Or are some folks cashing out B-level HOF RCs and still hoarding A-level HOFs?
I know it is a small sample size - but I've never seen 18 & 17 of the same vintage RC in the same auction before.

That's chaos.

Some think this is the top of the bubble and want to cash out

Out of those 16 koufax. Only 3 grade 6 psa/SGC and above

We're seeing less and less 52,51 mantle or high quality stuff on market

We'll see how this goes. Really more high end collectors buying off every quality stuff or bubble bursting. Either way my stuff is not selling.

I've watched so many youtube videos and read too many articles from non-collecting reporters that I get the sense that many of the collectors aren't really dipping their toes into vintage. A lot of the cards that are going up in value are not even post-war, but junk wax and current.

I feel that we've been here before when Baby Boomers got back in the hobby after graduating from College, getting better jobs or started having children and getting in it with them.

This may be a little different because Hedge Funds and companies are getting into the hobby as a way to invest like they would a piece of art. I think that's real stupid way to go by the way. I also think that collectors or investors go in on one card, sell it and split the proceeds, or keep it and sell at a later date and the latter can become very challenging if a conflict arises.

Personally, I dont think Hedge Funds have any business in the hobby and all the crazy money is from stupid purchases by people who lack any hobby knowledge or common sense. It's just my opinion but I was around during the crash of 1992 and remember how collecting modern cards was back in the 1980's and there was a lot of speculation gone wild.

Again, I dont see a lot of hobby knowledge with these new collectors and it appears that they're treating the hobby as a stock market. It doesn't seem that they care about the cards, players or hobby except that it's a quick buck based on speculation...or gambling. These guys seem like day traders to me?

I purchased a 1915 CJ Speaker. I can justify to my wife cards priced less than $1000. But when it breaks that barrier.... it's off limits.

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I love numbers like that, a lot of times you can sneak in and find a decent deal when there's that many choices. Let the slab Queens go after the high end stuff and pick up something in the middle while they're chasing.

"Slab Queens" -- classic. Gonna have to remember that.

Auctioning off that many mid-grade examples of the same RCs smells to me like a pumper is now a dumper.

Slab Queens. Very grateful you're not copyrighting that so I can use it— and liberally. I was always calling them Sticker Whores but I love Slab Queens so much more.

If you ever wanna try dialogue punch ups for TV or films holler at me!

I’ve seen some crazy things over the last year and no doubt this is a bubble... I think it has a ways to go though unfortunately.

I started collecting in 92/93, right at the tail end of the junk wax era. Whenever I would go to a card shop it was usually just me or another kid or two. My older cousin was really into it in the mid to late 80’s and always talked about how crazy packed shows and shops were back then but I never saw anything like that. This weekend I went to my favorite card shop for the first time since late last summer and was amazed at the number, and types, of people there. It was jam packed and the first time I actually experienced some of the craze that everyone who collected in the 80’s talks about. I’m sure a lot of that demand is not visual due to eBay now, but it was fascinating to say the least. I have a feeling that this will last another few years if not longer. I wish that wasn’t the case though.

An example of how crazy things are. Run a search on eBay for sales of Allen & Ginter cards of bitcoin...amazingly, people are paying into three figures for this trash. I thought it jumped the shark when people were chasing A&G 'bug' cards a few years ago, but cards of a fake currency...we're into Seinfeld 'show about nothing' territory

GEORGE: See, this should be a card. This is the card.

JERRY: What?

GEORGE: This. Just a non-existent form of money that we make up. Call it "cryptocurrency".

JERRY: (dismissing) Yeah, right.

GEORGE: I'm really serious. I think that's a good idea.

JERRY: A non-existent form of money that no one issues and no government backs? Well what's it about?

GEORGE: It's about nothing.

JERRY: No real money?

GEORGE: No, forget the real money.

JERRY: You've got to have something to back a currency.

GEORGE: Who says you gotta have that?

JERRY: And who supports this money? What does it look like?

GEORGE: I could be on the coin

JERRY: You?

GEORGE: Yeah. You could base a coin on me.

JERRY: So, there's a coin showing George Costanza?

GEORGE: Yeah. There's something wrong with that? I'm a character. People are always saying to me, "You know you're a quite a character."

JERRY: And who else is on a coin?

GEORGE: Elaine could be a coin. Kramer...

JERRY: Now he's a coin. (Pause) So everybody I know gets to be on a coin?

GEORGE: Right.

JERRY: And it's a currency that doesn't exist and is backed by no one and nothing?

GEORGE: Absolutely nothing.

JERRY: So you're saying, I go in to Topps, and tell them I got this idea for a card about coin that is nothing.

GEORGE: We go into Topps.

JERRY: "We"? Since when are you a writer?

GEORGE: (Scoffs) Writer. We're talking about a baseball card maker.

JERRY: You want to go with me to Topps?

GEORGE: Yeah. I think we really got something here.

JERRY: What do we got?

GEORGE: An idea.

JERRY: What idea?

GEORGE: An idea for the card set.

JERRY: I still don't know what the card is about.

GEORGE: It's about nothing.

JERRY: Right.

GEORGE: Everybody's doing something, we'll do nothing.

JERRY: So, we go into Topps, we tell them we've got an idea for a card about nothing.

GEORGE: Exactly.

JERRY: They say, "What's your card about?" I say, "Nothing."

GEORGE: There you go.

(A moment passes)

JERRY: (Nodding) I think you may have something there.