Bursting Bubble

[Exhibitman]

Originally Posted by troutbum97

Probstein sold a 1950 Bowman Jackie Robinson in a PSA 3 on Tuesday night for $4,308.

Did they, though?

[MattyC]

If collectors take a deeper, critical look into the PSA 10 Jordan sale spikes that ignited much of this frenzy or that Rock card that garnered some press, for example, I think eyebrows will be raised at the underlying dynamics. We may ultimately look back and see this whole house of cards, this frenzy, was touched off by actions borne of conflicted interests.

[mechanicalman]

Originally Posted by MattyC

If collectors take a deeper, critical look into the PSA 10 Jordan sale spikes that ignited much of this frenzy or that Rock card that garnered some press, for example, I think eyebrows will be raised at the underlying dynamics. We may ultimately look back and see this whole house of cards, this frenzy, was touched off by actions borne of conflicted interests.

It’s hard to imagine an auction house receiving $40mm in investment, with all the legal and financial due diligence that goes into such transactions, if there were a number of fake sales, and therefore, false financials, on the books.

[MattyC]

I'm not at all saying the sales were fake.

[Peter_Spaeth]

Originally Posted by Exhibitman

Did they, though?

I saw 10 auctions or more last night that I absolutely could not believe. Funny how many were PWCC. I mean who knows. But 3K plus for a USAIN BOLT??

My favorite was 33K for a not that difficult Messi sticker in a Beckett 9.5.

Stunning.

[mechanicalman]

Originally Posted by Peter_Spaeth

I saw 10 auctions or more last night that I absolutely could not believe. Funny how many were PWCC. I mean who knows. But 3K plus for a USAIN BOLT??

My favorite was 33K for a not that difficult Messi sticker in a Beckett 9.5.

Stunning.

With all due respect, it seems like you’ve been stunned by prices for as long as I’ve been on this board.

[Peter_Spaeth]

Originally Posted by mechanicalman

With all due respect, it seems like you’ve been stunned by prices for as long as I’ve been on this board.

Was I wrong to be in 2016?

[mechanicalman]

Originally Posted by Peter_Spaeth

Was I wrong to be in 2016?

Lol. Yeah, I think you were right that year.

[Peter_Spaeth]

Originally Posted by mechanicalman

Lol. Yeah, I think you were right that year.

On a serious note, it's not that hard to manipulate prices if you have a deep pocket. The sales don't have to be "fake" in the sense of being unpaid. People see rising prices and FOMO then takes over.

[Exhibitman]

I've been talking to a number of middle class longtime collectors. Expect a wave of collections being liquidated; the money is just too good. It would already be under way but for the fact that so many of them have raw collections and would need a TPG to slab the cards for sale.