Ken Goldin Video on State of the Hobby

[mouschi]

Interesting video to watch - https://www.instagram.com/tv/CPUgCP5...cc9FXStlTjfNRE

Cliff's Notes: Tons of new money has come into the hobby ... and tons more new money will continue to come into the hobby.

[ullmandds]

yawn

[Snapolit1]

Kudos for Ken in running a wildly successful auction house. One I have purchased from and consigned to. Clearly leading the charge in the market.

But asking a guy who runs the leading auction house how the market is faring is a bit like emails I get from real estate agents. Things are always amazing, it's always the time to buy, it's always the time to sell, and even when things are clearly in the shitter, it's REALLY the time to buy or sell. In fact, probably never been a better time.

[MattyC]

Who gives a shit what some auctioneer says. Has nothing to do with me enjoying a card in my hand.

[packs]

The state of the hobby is reflected in my collection because that's the only hobby action I care about.

For the record, my collection continues to grow because of my own interest in it and not anyone else's.

[egri]

I'll put his predictions on the shelf next to Dow 36,000, which in 1999 predicted the DJIA would reach 36,000 by 2002. It fell to 7,300 that year, and even its all-time high of 35,000 is still short of the mark.

[Peter_Spaeth]

Originally Posted by mouschi

Interesting video to watch - https://www.instagram.com/tv/CPUgCP5...cc9FXStlTjfNRE

Cliff's Notes: Tons of new money has come into the hobby ... and tons more new money will continue to come into the hobby.

Maybe. Then again, it feels to me like we've dropped pretty substantially in the last couple of months from what either were giddy numbers or manipulated numbers or some of each.

Ken is articulate and enthusiastic and might be one of those guys who could sell sand to a beach but I wouldn't take it as gospel.

[samosa4u]

This is a nice video that Ken uploaded, however, he is making a mistake by using his past experiences in order to predict the future of the hobby. He states that he has been in the hobby since 1978 and how he has seen the market crash around ten times. He talks about the stock market crash, the subprime mortgage crisis, etc. However, we're dealing with a completely different animal here. For the first time ever, millions and millions of people around the globe were stuck at home and were not allowed to do anything. No travel, no restaurants, no strip clubs - nothing. Never before in my life have I seen $2,000 cards go up to $60,000 US in a few months. I don't care what any of these athletes will do in the future or whose records they will break or who will have a documentary made about him. If you're somebody who is buying cards at these absurd prices, then you are going to get nailed, period.

[Lorewalker]

Originally Posted by samosa4u

This is a nice video that Ken uploaded, however, he is making a mistake by using his past experiences in order to predict the future of the hobby. He states that he has been in the hobby since 1978 and how he has seen the market crash around ten times. He talks about the stock market crash, the subprime mortgage crisis, etc. However, we're dealing with a completely different animal here. For the first time ever, millions and millions of people around the globe were stuck at home and were not allowed to do anything. No travel, no restaurants, no strip clubs - nothing. Never before in my life have I seen $2,000 cards go up to $60,000 US in a few months. I don't care what any of these athletes will do in the future or whose records they will break or who will have a documentary made about him. If you're somebody who is buying cards at these absurd prices, then you are going to get nailed, period.

Spot on. This was 2016 on roids. So many collectors had a fear of missing out so they ponied up and are now down 50% and declining on lots of stuff.

[Peter_Spaeth]

Originally Posted by Lorewalker

Spot on. This was 2016 on roids. So many collectors had a fear of missing out so they ponied up and are now down 50% and declining on lots of stuff.

Do not underestimate the temporary power of FOMO. On the other hand, do not overestimate its staying power.

The more things change...

[Peter_Spaeth]

Here's the state of the hobby.

https://www.ebay.com/itm/22449097676...p2047675.l2557

Compare to two on Jan. 31 in Goldin at 738K each.

Only a drop of 557K or whatever.

Let's spin this one, shall we?

Or did we (some of we) just get fooled yet again by sales talk, manipulation, and fraud?