Bear market, global disruption ramping up

bbcard1 · #1 03-11-2020, 06:22 PM

It will be interesting where show prices are in April/May. You can always see pricing changes start at the floor level of big shows before they show up on line or in guides...or at least that's how it has been. There is a really funky concoction going on our there. Gary Vee is hyping cards as an investment, production seems to be up, there seem to be willing buyers. but the stock market is falling and COVID-19 will at least have a short-term effect. Add in that there is some labor unrest. Pretty much anything can happen.

Hankphenom · #2 03-11-2020, 07:25 PM

Quote:

Originally Posted by bbcard1

Pretty much anything can happen.

And therein lies the source of the panic. This one is different in that the cause is outside the economic and financial realm, so the history of downturns wouldn't seem to be any kind of guide, other than 9/11 perhaps, but that was a discrete and presumably one-time event. Other than massive debt everywhere you turn (and which nobody seems to care about anymore), the economy was purring along, so will it return to that state in a few months when the virus is no longer a factor, or will the various shocks and dislocations in the interim (hello, massive debts) have changed the environment so much that it has become an economic and financial problem with the virus merely the catalyst?

Touch'EmAll · #3 03-11-2020, 07:31 PM

We will see if prices drop right now. I put in a solid yet conservative bid on a big (to me) card, and am high bidder for the moment.

Republicaninmass · #4 03-11-2020, 07:34 PM

It crazy enough to make you say uncle

Still collecting cards here

Snapolit1 · #5 03-11-2020, 07:35 PM

Quote:

Originally Posted by Republicaninmass

It crazy enough to make you say uncle

Still collecting cards here

Nice one.

Touch'EmAll · #6 03-11-2020, 08:35 PM

I had high bid on T206 Johnson hands chest PSA 5 at 2,307. Just ended 2,875. Got blown out last bit, ended at quite the nice hefty price. Honestly didn't think would break 2,500.

Hankphenom · #7 03-12-2020, 11:13 AM

Quote:

Originally Posted by 100backstroke

I had high bid on T206 Johnson hands chest PSA 5 at 2,307. Just ended 2,875. Got blown out last bit, ended at quite the nice hefty price. Honestly didn't think would break 2,500.

There are trillions more dollars sitting in bank accounts today than there were a month ago, and particularly among the collector demographic, I'd guess. That money isn't going anywhere any time soon because there's no good place for it to go. I could envision a scenario where high end cards and memorabilia continue to do quite well while the hobby in general slips into a recession along with the rest of the economy.

todeen · #8 03-11-2020, 08:46 PM

Quote:

Originally Posted by Hankphenom

the economy was purring along, so will it return to that state in a few months when the virus is no longer a factor, or will the various shocks and dislocations in the interim (hello, massive debts) have changed the environment so much that it has become an economic and financial problem with the virus merely the catalyst?

I don't think the economy will return to economy of Feb 14. Covid-19 will just be a catalyst to some extent. Plenty of analysts knew Chinese growth was slowing. That was signaling problems ahead. Every analyst knew the stock market needed a correction, and everyone knew this bull market had to come to an end. Many analysts have also highlighted although the US is near full employment, many jobs created in this bull market were not middle class jobs. Many more people are working multiple jobs to get by. Not to mention the college debt bubble that will have to be reckoned with some day, there are lots of questions left unanswered.

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Johnny630 · #9 03-11-2020, 08:52 PM

The time to buy will be near......I�ve been preaching card poor and cash rich for the right time to buy. Right now I�m praying for the sick people and all the world. The cards aren�t going anywhere.

Show Promoters Temp Suspend Please Until Further

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