New T206 Doyle NATL Coming to REA

[Leon]

Originally Posted by Hankphenom

Yes, and that's exactly my point. The price of any card is inconsequential to these whales, so why would they ever stop bidding on one they want? But something does make them stop, and that's what I find of interest.

Logic. They generally aren't billionaires by luck.
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[Aquarian Sports Cards]

Originally Posted by Leon

Logic. They generally aren't billionaires by luck.
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Beat me to it. I was going to say 'They didn't get to be billionaires by not caring about money'

[raulus]

Originally Posted by Leon

Logic. They generally aren't billionaires by luck.
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Some of the time that’s true. Paul Allen might be one of the many exceptions to the rule.

[frankbmd]

Peter_Spaeth;2364411]I think at least some people who worked their way towards that kind of wealth are disciplined and won't necessarily go over their limit just because they can.

Originally Posted by raulus

I like where your head is at.

But I'm not convinced that the filthy rich are any more disciplined than the rest of us poor slobs. Maybe I've just known too many rich people who seem like they are just as human as the rest of us.

My inclination is to suspect that the underbidder here probably decided to stop when it hit $1M. Then decided "what the hell, I can stretch a little more", and bid again. A little later, made the same decision, and all of a sudden it's up to $1.3M, at which point the underbidder decided they were done.

You might be surprised where Peter's head is

[Hankphenom]

Originally Posted by Leon

Logic. They generally aren't billionaires by luck.
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Collecting isn't logical under any circumstances, but as I said originally, nobody wants to feel stupid.

[rats60]

Originally Posted by Hankphenom

Collecting isn't logical under any circumstances, but as I said originally, nobody wants to feel stupid.

Wealthy people have been drawn to baseball cards because of the steady rise in values since the 1980s. Wealthy people like to invest in things that make them more money.

[Hankphenom]

Originally Posted by rats60

Wealthy people have been drawn to baseball cards because of the steady rise in values since the 1980s. Wealthy people like to invest in things that make them more money.

So you think there are a lot of "wealthy people" that have come into the hobby and have no interest in the cards themselves, or the history behind them, etc? I don't. Surely there are some, and some investor groups, that have come in, as I mentioned in my original post, but I'd guess most "wealthy people" buying cards also have at least some affinity for the cards themselves.

[raulus]

Originally Posted by Hankphenom

So you think there are a lot of "wealthy people" that have come into the hobby and have no interest in the cards themselves, or the history behind them, etc? I don't. Surely there are some, and some investor groups, that have come in, as I mentioned in my original post, but I'd guess most "wealthy people" buying cards also have at least some affinity for the cards themselves.

I’m with you. I suspect that rich people running around buying cards are collectors and enthusiasts first, and hope to make a little money in the bargain as a nice side effect. Or at least not lose too much. But maybe I’m just projecting.

Pure investors with zero interest in the sport or in the underlying cards themselves seem like they could exist, but seem like they would be less likely to buy more than a few nice pieces here and there.

I would cite Ken Kendrick as a great example of this theory. Billionaire with a large and incredibly valuable collection, including THE Wagner. Even if he’s hoping to make some good money on the collection, it’s hard to imagine it’s his primary motivation. And now someone who knows a lot more about Ken and his collection will chime in to tell me how wrong I am.