Anyone watching the insane basketball card prices?

[Vintage Basketball Pat]

Originally Posted by Exhibitman

All the big rookies seem to be on fire. I’ve watched the Dr. J in PSA 8 jump from $800 to $4600 in a couple of years. It is getting to the point where I am tempted to take some money off the table.

Adam, I am glad you brought this up. I bid on an Erving PSA 8 less than a month ago - lost at $1600...now $8000+.

So I did some research of 60s and 70s HOFs. There are primarily two buyers over the past month driving this insane increase. One has bid 704 times in one month - the other 632 times. If you look at PSA 8s, 9s, 10s...these are the buyers.

Eventually this bubble has to stop. The problem is that it makes its own market. People will start to believe that these cards are actually worth this kind of money. They shouldn't be. There is a big difference in rarity between a PSA 8 and a PSA 9 for older cards (usually).

It may continue, but it shouldn't. There is no logical explanation. There are a handful of people affecting this market.