1953 Topps PSA 10 Mickey Mantle IPO on Collectible App a Game Changer

[ocjack]

Interesting read. But wasn't something like this tried several years back and from what I remember - failed?

Also, what happens when the asset is determined to be "altered" and the grade invalidated. Does Collectable insure the asset and compensate investors if they failed in their due dilligence? Or do the shares of the asset simply go "boom?" And just as an fyi, besides your investment in this item, do you or any of your associates/family have an additional interest in this company?

Always better to ask questions up front.

Thanks.

[Dpeck100]

Originally Posted by ocjack

Interesting read. But wasn't something like this tried several years back and from what I remember - failed?

Also, what happens when the asset is determined to be "altered" and the grade invalidated. Does Collectable insure the asset and compensate investors if they failed in their due dilligence? Or do the shares of the asset simply go "boom?" And just as an fyi, besides your investment in this item, do you or any of your associates/family have an additional interest in this company?

Always better to ask questions up front.

Thanks.

I just heard about it this week. No affiliation with anyone.

I have no comment on the part about the card being altered.

You are going to see a lot of this coming I believe.

[swarmee]

Isn't this fractional thing already being done by multiple apps? I recall an Altered or PSA 1 T206 Wagner has already been divided. Once the IPO sells out, does this sale of a card for $2.5 Million get added to the PSA Auction Prices Realized website? It should, right?

Currently it's a Pop 2, but there are also 10 PSA 9s and 4 PSA 8.5s. If the Pop goes to 4, does it even register with the fractional owners? You guys have at it. It's not for me, but then, I've probably said that before.

[xplainer]

Sounds similar to purchasing stocks on CashApp.
I do this time to time and have made a little change.
Little the key word.

I guess this work on a high value card, like discussed.

[Dpeck100]

There may be other apps doing this. I just know this concept is going to make waves in the market.

A client first told me about this and has bought art this way and it has been extremely successful. The major difference is you can't cash out until the item sells.

The seller has to turn this card over to the holding company and it will be held just like gold is in an etf.

In terms of sale price I would think it has to recognized as the sale price.

[Snapolit1]

Hard pass on all these outfits.
Yeah, always the type of thing that comes up when its impossible for stuff to lose value. Ha ha.
No thanks. I'd rather own an entire PSA 5 and be able to hold it when I want to. And sell it or not sell it. This sort of arrangement has zero appeal to me. But, as they say, to each his own.

[Rhotchkiss]

How are the shares taxed on sale?

How is collectible/the sponsor compensated?

[swarmee]

Originally Posted by Dpeck100

In terms of sale price I would think it has to recognized as the sale price.

After seeing that only 40% of the card is being sold, I disagree that the sale price should be recorded as $2.5 million. Had 100% of shares been sold, I would have thought it would count as a sale.