Quote:
Originally Posted by Mark17
Your 1987 cards probably plummeted far worse than the stock market.
It's really tough to know what to do, financially. Everyone thought gold and other precious metals were the best hedge in a national crisis, but they are down now, too. Silver dropped from 18.00 an ounce to below 12.00 (briefly.)
I've always believed in quality, single family rental homes, but you need a cash set-aside, for stretches where the renters can't pay the rent, and unexpected maintenance.
And once this crisis is over, I'll be making a habit of getting a few extra bottles of shampoo, bars of soap, toothpaste, and yes, TP when I do my general shopping, to build up a nice supply.
As to cards..... they aren't a necessity, unlike rental property (people need to live somewhere,) so I think prices will come down a bit but not bottom out. Some will sell for liquidity concerns, but many will not be too impacted by the crisis and will feel little pressure to sell.
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I don't recall. I never felt like when I was chasing cards in 87 they got any cheaper heading into 88. Maybe they did and I just don't recall because my thirst for cards never waned.
My buddy Gregg just sold his signed 83 Inoki for $2,100 direct today. I know the buyer and his job is safe. The real issue is job security. Those that have it are going to be more willing to keep spending and those that don't won't. I had my best commission month in 25 months in March and my production was the highest in the first three months of the year in my 16 year career. With asset values down the next three months will be much lower but we shall see how things play out. That said a lot of people who are impacted in the service industry for example were never in a position to buy cards or make an impact in the hobby.
The length of the shutdown is what everything hinges on. Time will tell.
The big money cards are generally bought by people who have deep enough pockets where there will be no issue what so ever. I do think the very low end could be impacted if this lasts much longer as their discretionary income is quite vulnerable.
Longer term when the economy recovers the addiction known as collecting trading cards will be as strong as ever.