Will this stock market madness affect cards?

[Dpeck100]

Originally Posted by japhi

Well ya, an 11 year bull run fuelled by QE and debt has made most bulls look good. Let’s see how all assets perform when cash dries up and people start losing their jobs.

Fwiw I think the underlying fundamentals are decent. And that when demand comes back, the recovery will be dramatic. I am in buy mode myself ( not cards, equities). But this summer is going to be brutal and recession is a guaranty. Don’t underestimate how much of consumer spending is debt financed - HELOCS, credit cards. People are soon to find out they are not as rich as they thought.

My two major calls were that wrestling cards and specifically the Wrestling All Stars would explode and Mike Tyson cards would too. I bet significantly on this and in both cases good ole Patrick suggested I was crazy.

I agree that a long term run in markets has helped pump up lots of things but the move is far from over longer term in my view. There are loads of people like me in their 40's that will continue to want to own things they like and that remind them of their childhood.

It has been nice to see Gary V speaking so highly of the wrestling cards of late and they have taken another big leg up in many cases. There isn't enough supply in general and certainly not in high grades. I remain optimistic and my finances don't revolve around them at all so I am fine either way.

[gabrinus]

When the stock market hits zero I am buying everything...Jerry

[MULLINS5]

Originally Posted by Dpeck100

My two major calls were that wrestling cards and specifically the Wrestling All Stars would explode and Mike Tyson cards would too. I bet significantly on this and in both cases good ole Patrick suggested I was crazy.

I never bet against you on those cards.

You purchased nearly all of the supply of Wrestling All-Star cards (an obscure, unpopular set at the time) and then spammed the living hell out of them for years on the Collector's Universe forums - even when the majority begged you to stop (even though I defended you at the time). You even said that you intentionally bid on these cards to maintain their values and hype - but if you won the auction intended to pay so it wasn't shilling. It's also a set that was made, literally, in a guy's basement and I don't see how anybody can tell the difference between these and fakes (think Star Basketball). I held PSA at high esteem at the time and even had doubts then - given what's been uncovered lately I am of a string opinion they do not have the resources to accurately grade or authenticate these.

[Dpeck100]

Originally Posted by MULLINS5

I never bet against you on those cards.

You purchased nearly all of the supply of Wrestling All-Star cards (an obscure, unpopular set at the time) and then spammed the living hell out of them for years on the Collector's Universe forums - even when the majority begged you to stop (even though I defended you at the time). You even said that you intentionally bid on these cards to maintain their values and hype - but if you won the auction intended to pay so it wasn't shilling. It's also a set that was made, literally, in a guy's basement and I don't see how anybody can tell the difference between these and fakes (think Star Basketball). I held PSA at high esteem at the time and even had doubts then - given what's been uncovered lately I am of a string opinion they do not have the resources to accurately grade or authenticate these.

I will let you remember the events how you do and how I do.

The good news for me is it all worked out great.

[MULLINS5]

Originally Posted by Dpeck100

I will let you remember the events how you do and how I do.

The good news for me is it all worked out great.

They're preserved on Collector's Universe. I believe you said you bid up 80% of the most recent sale of the card, not necessarily to win. If you win, you pay, no foul. Something along those lines.

I don't have to worry about whether or not something holds value, and that is good news for me.

[Goudey77]

Patrick I admire that collectors mindset. It’s what fuels us all since we were kids.
We all have a unique approach and point of view to our collections.
Why the tit for tat to air out what’s been said...
Let’s get this thread back on track.

Originally Posted by MULLINS5

They're preserved on Collector's Universe. I believe you said you bid up 80% of the most recent sale of the card, not necessarily to win. If you win, you pay, no foul. Something along those lines.

I don't have to worry about whether or not something holds value, and that is good news for me.

[Dpeck100]

Originally Posted by MULLINS5

They're preserved on Collector's Universe. I believe you said you bid up 80% of the most recent sale of the card, not necessarily to win. If you win, you pay, no foul. Something along those lines.

I don't have to worry about whether or not something holds value, and that is good news for me.

Go read them and have fun. Every once in awhile I will read one and crack myself up.

Good for you. Enjoy your collecting and I will too. I love having cards that have gone up. Anyone who says they don't is just fooling themselves.

[Goudey77]

Originally Posted by Dpeck100

Go read them and have fun. Every once in awhile I will read one and crack myself up.

Good for you. Enjoy your collecting and I will too. I love having cards that have gone up. Anyone who says they don't is just fooling themselves.

David, world class wrestling collection. Always enjoyed your knowledge of the wrestling card world. The price increases are well deserved. The All Stars have finally staked their claim in the hobby!

[MULLINS5]

Originally Posted by Goudey77

David, world class wrestling collection. The price increases are well deserved.

A lot of effort went into cooking those increases.

[Dpeck100]

Originally Posted by Goudey77

David, world class wrestling collection. Always enjoyed your knowledge of the wrestling card world. The price increases are well deserved. The All Stars have finally staked their claim in the hobby!

Thank you.

There is no such definition as a true collector. I have never heard anyone with a bad ass collection say there is. It is always the person from afar.

Patrick was busting 89 Topps Hockey. Good for him. I would never question his motives or care and if he wanted to burn cash on the project so be it. It is his money.

Collect what you like. How you like. If one wants to speculate so be it. If one wants to hoard so be it.

It is baffling that people think they know what the definition of a true collector is and you only qualify if you don't care about value. Most of us in our 40's are a product of the 80's baseball card chase where the fresh Beckett with up arrows was like reading the Bible. It is why many are successful in life today.

[samosa4u]

Originally Posted by MULLINS5

I never bet against you on those cards.

You purchased nearly all of the supply of Wrestling All-Star cards (an obscure, unpopular set at the time) and then spammed the living hell out of them for years on the Collector's Universe forums - even when the majority begged you to stop (even though I defended you at the time). You even said that you intentionally bid on these cards to maintain their values and hype - but if you won the auction intended to pay so it wasn't shilling. It's also a set that was made, literally, in a guy's basement and I don't see how anybody can tell the difference between these and fakes (think Star Basketball). I held PSA at high esteem at the time and even had doubts then - given what's been uncovered lately I am of a string opinion they do not have the resources to accurately grade or authenticate these.

Whatever he did, he turned a piece of turd into a piece of gold, and that's brilliant IMO. Good job, Peck.

[MULLINS5]

Originally Posted by samosa4u

Whatever he did, he turned a piece of turd into a piece of gold, and that's brilliant IMO. Good job, Peck.

It's actually pretty easy to do. I've seen it happen quite a bit in the antiquarian book world.

[drcy]

A key reason they are doing the steps they are doing is not because it's the black plague. They are doing it to lower and lengthen the curve. If there is a large peak, it would swamp the healthcare system, hospitals and hospital resources.

[Rich Klein]

"Treasury Secretary Steven Mnuchin warned Republican senators Tuesday that the coronavirus pandemic could drive up US unemployment to 20%, a Republican Senate source told CNN."

Skipping politics aside, if we get close to 20 percent unemployment the card market will suffer as many people will have to sell at reduced prices to put food on the table, pay rent, etc.

The 2008 recession led to 10 percent unemployment by October, 2009. This would be double that figure. If you remember how 2007-10 was, then you have an idea what 2020-22 would be and then some.

Rich

[Johnny630]

Originally Posted by Rich Klein

"Treasury Secretary Steven Mnuchin warned Republican senators Tuesday that the coronavirus pandemic could drive up US unemployment to 20%, a Republican Senate source told CNN."

Skipping politics aside, if we get close to 20 percent unemployment the card market will suffer as many people will have to sell at reduced prices to put food on the table, pay rent, etc.

The 2008 recession led to 10 percent unemployment by October, 2009. This would be double that figure. If you remember how 2007-10 was, then you have an idea what 2020-22 would be and then some.

Rich

I see ZERO CHANCE of US Unemployed going to %20 Won’t Happen......thankfully it won’t even get close :-)