Ken Goldin Video on State of the Hobby

Johnny630 · #1 06-18-2021, 04:31 PM

Quote:

Originally Posted by Lorewalker

There have been 58 sales of Jordan 10s according to VCP since Jan 2020, at which time and for the LONGEST time, this was a 40K card. The breakdown of the 58 sales is as follows:

ebay seller manontherock 2
REA 3
Probstein123 4
Single Sales by individual ebay sellers and auction houses 7
Heritage 8
PWCC or PWCC Vault 12 (excluding the example that just sold for 180K which is now gone from VCP)
Goldin 22

The fundamentals just were never there to me for this card in a PSA 10 to sell in the $700,000 Range. Now they�re selling under 300,000.

I�ve been saying this for months I don�t care what anyone says many sales in Jan-March were Fantasy.

Lorewalker · #2 06-18-2021, 04:35 PM

Quote:

Originally Posted by Johnny630

The fundamentals just were never there to me for this card in a PSA 10 to sell in the $700,000 Range. Now they�re selling under 300,000.

I�ve been saying this for months I don�t care what anyone says many sales in Jan-March were Fantasy.

It all felt manufactured/manipulated to me. It is not a 700K card nor is it a 300K card, imo. The 86 Jordan was not the only card which was selling for many multiples of what it had been in the previous year and most of those cards are coming back down to Earth too. I have to suspect there are some extraordinary paper losses mid June 2021 for the average collector.

ullmandds · #3 06-18-2021, 04:50 PM

Quote:

Originally Posted by Lorewalker

It all felt manufactured/manipulated to me. It is not a 700K card nor is it a 300K card, imo. The 86 Jordan was not the only card which was selling for many multiples of what it had been in the previous year and most of those cards are coming back down to Earth too. I have to suspect there are some extraordinary paper losses mid June 2021 for the average collector.

Maybe some people entered into the situation expecting to take a large short term loss to offset other short term gains?

Johnny630 · #4 06-18-2021, 04:52 PM

Quote:

Originally Posted by ullmandds

Maybe some people entered into the situation expecting to take a large short term loss to offset other short term gains?

Agree it’s been my belief The Money Was Made on the Under Cards......Jordan’s a year or two later 87’s 88’s 89’s ect, onto, stickers,and mostly lower grades 7,8, and 9’s

Republicaninmass · #5 06-18-2021, 05:04 PM

Quote:

Originally Posted by Johnny630

Agree it�s been my belief The Money Was Made on the Under Cards......Jordan�s a year or two later 87�s 88�s 89�s ect, onto, stickers,and mostly lower grades 7,8, and 9�s

See goldin auctions. I believe they had 36 86 fleer jordans, including stickers, in ONE auction. Who would think that was a good idea?

Use common sense

Peter_Spaeth · #6 06-18-2021, 05:20 PM

Why would wealthy, successful, presumably sophisticated businessmen pay sums for a card completely out of line with historical values and indeed any value to date? The card isn't even close to rare even in a 10, what were they thinking, or maybe in context it was chump change and they didn't care? It does seem a lot of people leave their senses and sophistication and critical thinking behind when it comes to cards.

notfast · #7 06-18-2021, 06:27 PM

Quote:

Originally Posted by Peter_Spaeth

Why would wealthy, successful, presumably sophisticated businessmen pay sums for a card completely out of line with historical values and indeed any value to date? The card isn't even close to rare even in a 10, what were they thinking, or maybe in context it was chump change and they didn't care? It does seem a lot of people leave their senses and sophistication and critical thinking behind when it comes to cards.

I�m sure they were �advised� by someone with a reason to boost the values�

Leon · #8 06-18-2021, 06:31 PM

Quote:

Originally Posted by Peter_Spaeth

Why would wealthy, successful, presumably sophisticated businessmen pay sums for a card completely out of line with historical values and indeed any value to date? The card isn't even close to rare even in a 10, what were they thinking, or maybe in context it was chump change and they didn't care? It does seem a lot of people leave their senses and sophistication and critical thinking behind when it comes to cards.

I think it could be as easy as some billionaires son seeing an MJ rookie on TikToc or something and telling the dad to buy it. Or any of a million other scenarios where folks who are smart don't make great decisions sometimes.
There are a lot of people with a lot of money nowadays, I just wish I was one of them. I think some gamblers gambled and lost and some made money. Not my gig....but to each their own.

.

HistoricNewspapers · #9 06-18-2021, 07:23 PM

While it would be pretty hard to argue against bidding shenanigans happening in some cases...the market has also legitimately risen in tandem.

PSA 7 Julius Erving rookies are still selling for $1,800 and they aren't rare at all. I've been looking to buy them back after I sold my basketball stuff in one of the the 'run ups' before 2009. I thought I did great back then...lol. Win some lose some.

I don't know if I will ever buy that card back now, or the Alcindor rookie which is insanely high priced in every grade, and on multiple venues with legit sellers too. I don't know if a real widespread drop will ever come back. There will always be isolated crazy price swings....and there will always be some auctions that slip through the cracks somehow like there always have been.

If there is a widespread group eating the fees or price manipulating on PSA 6 Julius Erving rookies for $1,000 a pop...cut this guy a break...I would like one back at the old prices

It will take a seismic society altering event to stop the overall tide at this point. Its summer and everyone is out of the house now...and all those cards I want back haven't moved much at all in price.

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