CNN card story

Tao_Moko · #1 02-12-2021, 05:28 PM

Quote:

Originally Posted by Exhibitman

Mixed feelings here: The financial benefits of a coterie of investors getting into cards versus the inevitable inability to collect what I want due to being priced out. I am watching the rise in value carefully; if my collection reaches a certain price level I am selling out and sticking with everything 1970s from when I was a kid instead.

Do you suppose we could get these investors interested in boxing cards? Please??

Sure, sure. It's a disease. I have sold my collection no less than 3x and here I am again.

Rich Klein · #2 02-12-2021, 05:46 PM

Mel and Tim said it best in 1972:

https://www.youtube.com/watch?v=LDtPrJIxB68

Regards
Rich

todeen · #3 02-12-2021, 07:58 PM

Just remember, most people don't read to the end of an article.....where the warning about boom and bust cycle actually is located within this article. I remember that people loved beanie babies, too.

I did make a purchase this month due to FOMO. I thought, geez, if I don't get it now, will I ever be able to afford it?

Wanaselja · #4 02-12-2021, 09:35 PM

Quote:

Originally Posted by todeen

Just remember, most people don't read to the end of an article.....where the warning about boom and bust cycle actually is located within this article. I remember that people loved beanie babies, too.

I did make a purchase this month due to FOMO. I thought, geez, if I don't get it now, will I ever be able to afford it?

Jealous.

troutbum97 · #5 02-12-2021, 09:54 PM

CNN.
Chicago Tribune.
All this raging over modern cards.
Prices soaring.

Key ingredient in an asset bubble? "Irrational exuberance."

Reminds me of skyrocketing home prices in Vegas, Phoenix & Miami, etc, circa 2006.

todeen · #6 02-12-2021, 10:02 PM

Quote:

Originally Posted by troutbum97

CNN.
Chicago Tribune.
All this raging over modern cards.
Prices soaring.

Key ingredient in an asset bubble? "Irrational exuberance."

Reminds me of skyrocketing home prices in Vegas, Phoenix & Miami, etc, circa 2006.

Did you read the article? Goldin says he wouldn't call this a bubble... winky face emoji

Sent from my SAMSUNG-SM-G930A using Tapatalk

troutbum97 · #7 02-12-2021, 10:15 PM

Quote:

Originally Posted by todeen

Did you read the article? Goldin says he wouldn't call this a bubble... winky face emoji

LMFAO. Trade ya some Beanie Babies for the T206s you have left.

Exhibitman · #8 02-13-2021, 12:20 AM

Quote:

Originally Posted by todeen

I did make a purchase this month due to FOMO. I thought, geez, if I don't get it now, will I ever be able to afford it?

Heh, me too. Last HOFer I can reasonably afford in the 1952 Topps set.

carlsonjok · #9 02-13-2021, 09:00 AM

Here is my conundrum. I am 15 cards away from finishing 1955 Topps and 2 cards away from finishing 1968. I just cannot wrap my melon around sports cards being an investment. I mean, logically, yes I get it. But, with my collection, there is too much emotional involvement to view it as on par with stocks or annuities.

So, when I see the prices that the Clemente and Ryan rookie cards are selling for, I just shake my head and move on. Could I afford them at current prices? Yes, but I can't do it. That kind of money is significant enough to me that I prefer to put it into an asset I have absolutely no emotional attachment to.

So, to get back to my opening, I think I would be perfectly happy to fill those binder slots with reprints and call it a day. If the bubble bursts, great. But, if it doesn't, that is fine also.

Johnny630 · #10 02-13-2021, 09:13 AM

I wonder how many people are considering taking profits and selling their collections aggressively into the strength ?

Seven · #11 02-13-2021, 09:33 AM

Quote:

Originally Posted by Johnny630

I wonder how many people are considering taking profits and selling their collections aggressively into the strength ?

I've seen a lot of people selling, just my observations from here, Facebook groups etc. Some opportunities are too good to pass up, especially if it's a card or cards you're not particularly attached to.

Certain cards hold certain memories for me. I have a Raw 53 topps Willie Mays. It would probably grade a 2, if I slabbed it, I could sell it for a decent chunk of money, probably to fund the next card that I want, but I remember buying that card with my own money, as a kid, on my first trip to Cooperstown. I couldn't possibly sell it. It means to much to me. I get Nostalgic for those sort of things.

I'm sure others feel the same way, but on the flipside I'm sure there are people out there, taking advantage of the status of the market. No wrong way to go about it!

Fuddjcal · #12 02-13-2021, 12:50 PM

Quote:

Originally Posted by carlsonjok

Here is my conundrum. I am 15 cards away from finishing 1955 Topps and 2 cards away from finishing 1968. I just cannot wrap my melon around sports cards being an investment. I mean, logically, yes I get it. But, with my collection, there is too much emotional involvement to view it as on par with stocks or annuities.

So, when I see the prices that the Clemente and Ryan rookie cards are selling for, I just shake my head and move on. Could I afford them at current prices? Yes, but I can't do it. That kind of money is significant enough to me that I prefer to put it into an asset I have absolutely no emotional attachment to.

So, to get back to my opening, I think I would be perfectly happy to fill those binder slots with reprints and call it a day. If the bubble bursts, great. But, if it doesn't, that is fine also.

Reprints? What the big deal? That's a great set! I don't collect sets anymore, but I used to love that one. Get BACK OUT THERE AND BUY, BUY, BUY.

Surely you could justify cards like these? How bad could it be to finish the thing up? You must have many hours into it?

jimjim · #13 02-13-2021, 07:41 PM

Quote:

Originally Posted by carlsonjok

Here is my conundrum. I am 15 cards away from finishing 1955 Topps and 2 cards away from finishing 1968. I just cannot wrap my melon around sports cards being an investment. I mean, logically, yes I get it. But, with my collection, there is too much emotional involvement to view it as on par with stocks or annuities.

So, when I see the prices that the Clemente and Ryan rookie cards are selling for, I just shake my head and move on. Could I afford them at current prices? Yes, but I can't do it. That kind of money is significant enough to me that I prefer to put it into an asset I have absolutely no emotional attachment to.

So, to get back to my opening, I think I would be perfectly happy to fill those binder slots with reprints and call it a day. If the bubble bursts, great. But, if it doesn't, that is fine also.

You said this so well. There are three or four cards that I had been watching since 2019 waiting for nice versions that I missed out on when things took off in 2020. Yes, I can afford them now. I think a lot of it has to do with the fact we have all been collecting for so many years, that the card that was $400 two to years ago is now $3000. Just hard for me to fork over that kind of money when I know what it was two years ago. Even though I can afford it. And I agree, I just don�t think of these as investments. I know they are, but when you�ve been collecting for 30 years, it�s hard to think that way.

todeen · #14 02-15-2021, 09:16 PM

Quote:

Originally Posted by Exhibitman

Heh, me too. Last HOFer I can reasonably afford in the 1952 Topps set.

I purchased a 1915 CJ Speaker. I can justify to my wife cards priced less than $1000. But when it breaks that barrier.... it's off limits.

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