Ken Goldin Video on State of the Hobby

Lorewalker · #1 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 · #2 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 · #3 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 · #4 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 · #5 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 · #6 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�

Peter_Spaeth · #7 06-18-2021, 06:39 PM

Quote:

Originally Posted by notfast

I’m sure they were “advised” by someone with a reason to boost the values…

If that happened, it would be far from the first time. I recall the guy a couple of years back who would ask Brent how high he should bid on cards Brent was selling. People just check their life skills and common sense at the door.

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.

.

Tabe · #9 06-18-2021, 11:10 PM

Quote:

Originally Posted by Leon

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.

.

TWO billionaires and they both just happened to settle on the same way out of whack price? Sure.

HistoricNewspapers · #10 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.

Peter_Spaeth · #11 06-18-2021, 07:26 PM

Quote:

Originally Posted by HistoricNewspapers

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.

We must be looking at different cards. I am seeing "seismic" price drops.

Aquarian Sports Cards · #12 06-18-2021, 07:26 PM

The cards you mention are both softening. Be patient. Also a large difference between $1800 on a card you feel should be worth $600 and $700,000 on a card many feel is worth $40k.

Similar Threads
Thread	Thread Starter	Forum	Replies	Last Post
Sad State of the Hobby	samosa4u	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	86	02-03-2021 02:28 PM
The State of the Hobby Reflected on Jeopardy?	clydepepper	Watercooler Talk- ALL sports talk	0	09-27-2019 06:39 PM
State Of The Hobby	LincolnVT	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	63	05-05-2019 07:13 PM
OT, but a great share! State of the hobby	7nohitter	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	23	03-12-2014 07:57 PM
State of the Hobby	Steve D	Net54baseball Vintage (WWII & Older) Baseball Cards & New Member Introductions	25	06-08-2010 07:55 PM