Quote:
Originally Posted by Dpeck100
When I started the thread I knew the lion share of this group would poo poo it and I also thought it would be a good idea just to let people know what is about to hit the memorabilia market.
Here you have a PSA 1 Wagner that just sold for $1,146,000 through Mile High.
https://www.milehighcardco.com/1909_...-LOT72191.aspx
Wagner prior sales
Two PSA PR-FR1 Honus Wagners sold for $109,638 in 2004 and $132,000 in 2005
A PSA PR-FR 1 Honus Wagner sold for $400,000 in 2009
A PSA Poor 1 Honus Wagner sold for $402,900 in 2013
A PSA Poor 1 Wagner sold for $609,294 in 2017
A PSA Poor 1 Wagner sold for $1,169,875 in 2020
Every single one of you would have said the same thing at each of these times.
Perhaps this card doesn't turn into a home run but there will be some that will for sure. The creation of mutual funds and pushing them to the masses helped stock prices move from single digit price earnings multiples to some north of a 1000.
I am not suggesting this is as novel of a concept of Jeff Bazos coming on CNBC in 1999 and basically forecasting the future of commerce and having multitudes of people laugh at him only to go on to the be the richest person on the planet but do not full yourselves into thinking this won't have a dynamic impact on the collectables market. Many will choose to participate and many will choose not to but this is going to increase demand. It is that simple. |
Sure the wags has performed well. The SP 500 was under 700 bucks in 2009. Sits around 3500 today. And yes I get that is a cherry picked example but so is the Wagner.
And the problem with this scheme as an investment is you aren’t coming in at market price - there is likely a significant premium attached to the 2.5mm - and the fee’s are most likely outrageous. When the card sells, fees will again be outrageous.
So as a roll the dice, have fun, I think it’s cool. 10k is a nice vacation in Hawaii so I’m not going to knock anyone that likes to play with expendable cash.
But as a traditional investment these things are a joke for the reasons above.