Quote:
Originally Posted by japhi
I find it hard to believe, as someone in finance, that you think that posts like these are persuasive. This is akin to someone claiming that equities are performing well because xyz microcap is up 8% YTD. You would be laughed off any finance blogs for making a case like that.
Listen I get that you collect and are completely vested in pumping wrestling cards, I and appreciate your collection, but I’d be surprised if there were more then 50 hardcore wrestling card collectors. It is niche of a niche, a microscopic piece of the overall card market that tells us literally nothing about card prices.
If anyone is looking for a better data point, Acuna updates are selling at close to half their pre virus price. $300 down to $160 with each recent sale going lower. This is a heavily traded card - 15k cards graded by PSA alone - with 12k PSA 10s. Owned by thousands of collectors and is considered an investment grade card. Cards like this tell the story on where the market is going / is currently. If anyone actually cares.
And VCP in April and May is going to be fascinating. No asset class - and I cringe labeling most sportscards as assets - is going to be immune to 2 trillion is GDP disappearing and 8-12% unemployment. I just don’t see the hobby’s widest traded cards holding up to what looks like an economic blood bath.
|
I am not trying to convince anyone that the market is going to be okay. For ten years on message boards most have taken the other side of my opinions so it is really irrelevant. I am just happy to see the results have been tremendous for what I own. I listed four lots on Sunday and three are sold and the fourth I countered an offer.
It isn't like any of us on here have any overall power to support the market. Loads of collectors have never even read a message board post.
You are correct I am fully vested in seeing positive results but I would certainly say damn these auctions did horrible had they. I watched them until the end and was very pleased how strong they finished.
There is no doubt my little segment is just that little but it has continued to climb the wall of worry for years. Daily when I check the completed sales I am thrilled to see consistent turnover. I sat through some major pullbacks in this area early on and so watching them zoom to new highs with a larger bidding list is encouraging.
Time will tell what happens to the overall market and if any of us truly had the crystal ball we probably wouldn't be posting here.
I got in so early on wrestling and Mike Tyson that if they drop I can't say I would be happy but the spread between my cost basis and current prices is so wide I wouldn't lose any sleep. If they collapse the good news is I don't need to sell and don't owe a dime to anyone so life will go on.
03-30-2020, 02:08 PM
Similar Threads
Threaded Mode