the crazy price thread...

[GasHouseGang]

This really has the feel of a price bubble that is driven by speculation. I don't see how this can continue. I'm afraid someone is going to end up feeling foolish.

[begsu1013]

i wasn't chasing it anywhere near that price either.

i knew it was purchased last week @ $6500, topped out before the final hour and the high bidder while it was stuck on $8100 had 100% bidding activity w the seller.

i have zero facts but i didn't like the feeling of rewarding the guy after he had already cleared nearly $2k in a week on the card already.

so i wasn't gonna chase it any further, but hot d@mn if that thing didn't skyrocket in the last 20 seconds and blew away my expectations as i thought the guy was gonna end up getting stuck w/ it by being greedy....

shows you what i know.

regardless, it was a beautiful card.

kudos to the seller on that one.

[TheNightmanCometh]

Originally Posted by GasHouseGang

This really has the feel of a price bubble that is driven by speculation. I don't see how this can continue. I'm afraid someone is going to end up feeling foolish.

From a purely selfish point of view I hope it collapses because as it stands there is no way I'm ever going to be able to afford any of these cards, nor if I could would I ever pay that much.

[Republicaninmass]

Originally Posted by GasHouseGang

This really has the feel of a price bubble that is driven by speculation. I don't see how this can continue. I'm afraid someone is going to end up feeling foolish.

The greater fool theory

[sixpointone]

I'm unsure if it counts, because the card itself has not yet sold, but there is a PSA 10 Johnny Bench rookie on eBay, asking for 75k. It is my understanding that would be far and away a record price, should the card indeed sell at that price point.

[Republicaninmass]

I received an offer for my sgc 7 clemente of 8,000. I believe this was a real offer. Since I bought it in 2007 for 2500, this would be a huge profit, but not earth shattering.

[glynparson]

The 10 and some of the 9s (and even 8s on a few cards) pricing doesn't shock me but pricing on 7 Rose ND RYAN AND 5-6 CLEMENTE ROOKIES is what is amazing to me and can't last. The high grade market can honestly stay at these levels but the mid grade stuff can't in my honest opinion.

[GasHouseGang]

Originally Posted by glynparson

The 10 and some of the 9s (and even 8s on a few cards) pricing doesn't shock me but pricing on 7 Rose ND RYAN AND 5-6 CLEMENTE ROOKIES is what is amazing to me and can't last. The high grade market can honestly stay at these levels but the mid grade stuff can't in my honest opinion.

I agree. The 10's and 9's have always drawn sometimes insane money. But for everyone out there just trying to complete a set, if the 5's and 6's start going crazy, it's going to be hard to afford to be a set collector.

[begsu1013]

says the 51 willie mays 6 that just hit $15k...

truth is no one in this room knows whats gonna happen.

each and every card is independent.

even from itself.

even in a comparable grade.

yes, not even all 6s are created the same.

"even beutiful 2s command respect", says the 52 mays thread.

[pokerplyr80]

Originally Posted by sixpointone

I'm unsure if it counts, because the card itself has not yet sold, but there is a PSA 10 Johnny Bench rookie on eBay, asking for 75k. It is my understanding that would be far and away a record price, should the card indeed sell at that price point.

He could ask 1.2 mil for it but no it doesn't count unless it's actually sold for that amount.

Edit: if you meant just to point out crazy prices then yes that could count, as would many other ebay listings.

[sixpointone]

Originally Posted by pokerplyr80

He could ask 1.2 mil for it but no it doesn't count unless it's actually sold for that amount.

Edit: if you meant just to point out crazy prices then yes that could count, as would many other ebay listings.

Hi pokerply,

I agree with you completely. And yes, I was hoping to illustrate the various jumps in increase in eBay asking prices.

Best always,
John

[ls7plus]

Originally Posted by GasHouseGang

This really has the feel of a price bubble that is driven by speculation. I don't see how this can continue. I'm afraid someone is going to end up feeling foolish.

It won't continue. Prices don't advance in the manner we've been seeing in a true collector's market. The investors will by and large eventually pick up and leave, with the smartest of them selling for a nice profit, and the others scrambling to break even or worse. The market for the limited focus items they drove up will then descend to what a legitimate collector, in the hobby for the long run, would pay for the items. Same thing has happened repeatedly in coins, and within the last decade or so, in the field of classic car collecting. The good thing is that some of them will indeed like what they've bought, weather their losses, and stay and learn more about this wonderful hobby. On the plus side, it is a good time for knowledgeable collectors to sell what the investor types are buying!

Best wishes,

Larry