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Has anyone seen this joke ?
Posted By: ScottIngold
Link to cardtarget.com |
#2
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Has anyone seen this joke ?
Posted By: Jeff Lichtman
Scott, I'm simply speechless after having read that board. |
#3
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Has anyone seen this joke ?
Posted By: Mike
When I see something like this...it makes me think that maybe God might want to scrap this whole experiment of his, and start over. Something has gone terribly wrong. Sheeeesh.....there is no hope for us is there? |
#4
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Has anyone seen this joke ?
Posted By: Russ Bright
I have a few shares. I don't find this idiotic. I will never have 7 grand to buy some of these cards. Speculation is huge on that board too. With IPO starting at 10 dollars a card, I have made more money there than in a lot of my other card deals (yes, even on this board.) |
#5
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Has anyone seen this joke ?
Posted By: Max Weder
I would suspect this violates securities laws. I wonder what the SEC thinks. |
#6
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Has anyone seen this joke ?
Posted By: ScottIngold
Russ, |
#7
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Posted By: warshawlaw
Now that is an unregulated securities market, with non-registered securities being offered to the public. People can be so gullible. |
#8
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Has anyone seen this joke ?
Posted By: barrysloate
Russ- an an uninvolved third party I have to tell you I would hesitate to sink money into this kind of venture. I can't even begin to think of all the things that could go wrong, but the fact that you made some money so far may be misleading. These are the kind of schemes that work in the short term and then come crashing down in the long term. I would put as little money as possible into this. |
#9
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Has anyone seen this joke ?
Posted By: leon
We have had a very extensive discussion about this before. The owner of cardtarget does come on this board somewhat regularly. Last time we talked about it he was made aware of the SEC issues and supposedly had his legal folks (lawyer) make sure it was ok...or something like that. IF folks want to buy into this then more power to them. It's not for 99.9% of this board, including myself, but at least it's not an outright scam like the Prize Sports creeps. I agree it's sort of hard to believe this kind of thing gets people to buy into it but what the heck....To each their own... |
#10
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Posted By: Russ Bright
It's for fun. The fact that I can make a little money and "pretend" I own a part of a rare card is nice for me. It got me here. I found out about Net54 from Cardtarget, and now am 124 cards into a T205 Master set. i have been making trades and deals with people from here. I also do have a stock portfolio and am selling a condo that I bought to flip and do my best (I'm 27) to play the invest/property game (also not the safest market). |
#11
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Posted By: CardPricer
First and foremost, please remove the reference to our company. This is about cardtarget.com, not cardpricer.com. |
#12
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Posted By: Frank Wakefield
Well it has taken a while for you guys to educate me, but you have done it. I now understand that the fact that this Matty card is slabbed makes all the difference. Now selling shares in a raw card would be a bad deal. But this is a steal!!! You guys are soooo right. |
#13
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Has anyone seen this joke ?
Posted By: Mike Masinick
Hi Everybody, |
#14
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Posted By: barrysloate
Russ- if you are only investing $50 or a $100 then I agree it's just fun money and it doesn't matter if you win or lose. I know that if you buy shares of Disney all you own is a certficate (and I think even that is obsolete today) but the beauty of baseball cards is you can own them. Wouldn't you rather have a card you could look at and enjoy than just a piece of something in cyberspace? That's where collectibles differ from stocks. |
#15
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Posted By: howard
Well put, Mike. I find the concept strange but no more so than paying to have a star named after a loved one or owning one share of the Boston Celtics. Frankly the whole concept of collecting cards at all is a bit odd : ) |
#16
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Posted By: RC McKenzie
The matty and gabby street bl 460's are nice cards. If i wanted to purchase one or both, are they available for sale? |
#17
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Posted By: Anonymous
Thats what I would really like to know. If I buy all the shares then there is no reason why ownership of the actual card shouldnt be yours. If that doesnt take place, then i would never agree to participate. |
#18
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Posted By: davidcycleback
My feeling is if someone wants to participate, that's fine. And if someone doesn't want to participate that's fine. People play fantasy sports, have NCAA basketball pools and buy online eTopps. I don't see that any of these activities is better or worse than the others. |
#19
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Posted By: Frank Wakefield
If someone owned all of the shares of a particular card was able to demand ownership, Mike M could thwart that by always retaining ownership of one share himself. |
#20
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Posted By: Tom Boblitt
I had a few. Oddly enough, it's a BAD experiment. Topps issues these IPO's. For like $4-$10 you buy an electronic card which is then put into your portfolio. They do have a pretty dynamic market for moving the cards between portfolios through the guise of ebay or of Cardtarget (which, by the way IS an efficient marketplace from what I've seen--for eTopps). Much like the shiny card market, once you buy the cards, 5-10% of them go up. Typically the Ben Roethlisberger rookie card or Lebron James, etc. Which, in most, if not all cases, are like a TRUE IPO where you get few if any shares. The other 90-95% of the cards decrease in value. Mike has some fantastic statistical tools at Cardtarget. Just take a look at the graphs of the sets or what the IPO price WAS versus what the current price IS. Really neat experiment but a failed one. Topps has noted problems with eTopps in their investor notes almost quarterly. They've had a HUGE contraction in the market from the 2002 or so timeframe when they were issuing 3000+ of each card. They still had demand and sold out and those cards are basically worthless now. Now they do 500-1000 of each card. The physical cards are very nice quality but a single card, encapsulated for $4-$10 is pretty expensive overall--especially when you have to PAY to take them 'in hand'. |
#21
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Posted By: Bruce Babcock
I've got a scan of Leon's Four Base Hits card of Kelley and many other cards I don't own. I've grabbed scans of many of the rare and cool cards posted here day after day, as I'm sure many of us do. Many of these cards I can't afford and/or they are so tough they may never even come up for sale. |
#22
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Posted By: leon
Don't hold back...you can tell everyone I sold you 1 share for $5., with picture ...problem is there are a million shares outstanding..... |
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