Quote:
Originally Posted by Snapolit1
Not a breaking revelation of any kind, but I suspect there are small groups of investors who own many of these 1 or 1 shiny things selling for $900,000 and some of the bidding is people with a vested interest in keep the market at a certain level. Propping up cards that will hopefully help them sell higher down the road. Like a bunch of rich professionals telling each other what the hot neighborhood or condo complex is going to be the next big deal.
Doubt many people with no knowledge of sports collecting wake up one morning and decide it would be a good day to spend $700,000 on a Jasson Dominguez cracked ice refractor.
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Yes, the market is thin for high value cards and is made up of people who have a lot of money and are looking for things to spend it on. I really don't think it's those guys' investment advisors that tell them to buy baseball cards though. They buy them because they enjoy having them. If their rich friends are envious they buy them too and prices go up.
That said, I think one reason card prices took off during the COVID bubble is there were a bunch of ballplayers who decided to see who could put together the best Topps refractor All-Star team. I'm not sure if that had anything to do with Dominguez, but those cracked ice refractors are pretty cool.