Quote:
Originally Posted by Johnny630
I have been thinking this way for 2 years and have been dead wrong.
Middle and low grade cards have pulled back because this inflation is affecting the middle class ..... conversely inflation has little to no affect on 5 and 6 figure buyers on Mile High, REA, and just wait till Memory Lane. Higher Higher and Higher a 53 Mantle PSA 7 sold for 47k along with a SGC 7.5 Mantle selling for over 15k in REA's last auction.
The rich get richer...the poor get poorer... and the middle class pay more and will spend less. Cards are still bullish IMO just not low and middle grade.
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Lots of high value cards are WAY off ATH's. Mostly modern, mostly BKB, but upwards of 80% declines.
Recency bias says says that assets like cards, homes, art, vehicles will go up forever but we know that isn't true. Can't think of an asset class that doesn't correct periodically, and the correction is typically in proportion to the run up. We are way overdue for a big reset.