I'd really love to get a breakdown of where all this money is coming from. Auction honchos could tell me, if they wanted, but I'm not sure I've ever asked. It's not us here on Net54, that's for sure, unless we're cashing in something we bought years ago when things were more affordable to buy something today. I'm guessing some pure investor and investor groups have noticed the dependable 50-year track record and ROI of this asset class and come in with guns blazing. And how about these tech billionaires and wealthy boomer lawyers, doctors, and other professionals who basically have the wherewithal to pull the trigger on anything they see in auction catalogs as often as they feel like it. And they can do it with the reassurance of the above mentioned track record. There is so much money sloshing around out there now, so many fortunes that would have been unimaginable in my youth when there were a few old-line fortunes known by name and that was about it. Venture capital? What the heck is that? Don't get me wrong, I have no complaints. I'm very happy with my little house in my beautiful little town and my fabulous old Highlander and Martin D-35, etc., and I have some cool stuff grabbed in the old days in niches that not many others cared about, but I can easily understand how frustrating it must be for ordinary schmucks who just love old cards to now be faced with choices like replacing the beater second car or moving forward with their collection. Frankly, the financial profile of the average Net54 collector must be in the top 99% of the country to even be able to play in this sandbox at all. For that group, who has gotten used to having pretty much whatever they set their sights on, this must be a very tough time to be in the "hobby."
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08-14-2023, 11:04 AM
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