Quote:
Originally Posted by Deertick
There aren't many, and they surely could not move the market.
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I'd think youre mistaken. Look at Gamestop and AMC stock compared to the losses by the hedge funds shorting it.
People were bribing the target suppliers to buy retail boxes to resell on ebay minutes later for double or more.
Panini begin "dutch auctions" where wax boxes sell out at 1k within minutes. Paying on your credit card is a short term loan since just about any card inside, or the box itself, would bring a profit as soon as it gets to your door.
PSA inundated with modern cards, literally out of the box, since 9s and 10s bring a huge multiple because they will just be "worth more" graded or next month.
Long time psa dealer stole/lost 1 million worth of grading fees as turnaround times slowed as the modern market sank.
Just like biotech and qqq they are the first to get hit, then the mega caps start falling, while people start buying to find a middle ground.
Most dangerous words in any market "this time it will be different". However, if you dont need to sell, and make good buys, historically you will be fine.
1986 fleer jordan psa 1s, not so sure
People certainly used pandemic loans to buy cards. If they never had these funds, the card wouldnt have sold at that price, or at all.