Still crazy prices

[cubman1941]

As one who sold all his modern at an auction years ago and sometimes thinks “I should have held on to that Jeter, etc,” and one who passed even more years ago on buying pre-1955 cards because they weren’t Cubs, I still don’t understand the prices or asking prices for todays modern cards. One thing that hasn’t been mentioned and is relevant, is today’s trading. I used to do a lot of trading but today most younger traders only want PSA 8 or 9 or 10. This goes along with today’s buyers. Traders want to trade for the high graded cards because they think they can flip them for a big price. Lost is the fun of trading – found is only “what can I sell it for”.

[Snapolit1]

Not a breaking revelation of any kind, but I suspect there are small groups of investors who own many of these 1 or 1 shiny things selling for $900,000 and some of the bidding is people with a vested interest in keep the market at a certain level. Propping up cards that will hopefully help them sell higher down the road. Like a bunch of rich professionals telling each other what the hot neighborhood or condo complex is going to be the next big deal.

Doubt many people with no knowledge of sports collecting wake up one morning and decide it would be a good day to spend $700,000 on a Jasson Dominguez cracked ice refractor.

[Gorditadogg]

Originally Posted by Snapolit1

Not a breaking revelation of any kind, but I suspect there are small groups of investors who own many of these 1 or 1 shiny things selling for $900,000 and some of the bidding is people with a vested interest in keep the market at a certain level. Propping up cards that will hopefully help them sell higher down the road. Like a bunch of rich professionals telling each other what the hot neighborhood or condo complex is going to be the next big deal.

Doubt many people with no knowledge of sports collecting wake up one morning and decide it would be a good day to spend $700,000 on a Jasson Dominguez cracked ice refractor.

Yes, the market is thin for high value cards and is made up of people who have a lot of money and are looking for things to spend it on. I really don't think it's those guys' investment advisors that tell them to buy baseball cards though. They buy them because they enjoy having them. If their rich friends are envious they buy them too and prices go up.

That said, I think one reason card prices took off during the COVID bubble is there were a bunch of ballplayers who decided to see who could put together the best Topps refractor All-Star team. I'm not sure if that had anything to do with Dominguez, but those cracked ice refractors are pretty cool.

[ullmandds]

Originally Posted by cubman1941

As one who sold all his modern at an auction years ago and sometimes thinks “I should have held on to that Jeter, etc,” and one who passed even more years ago on buying pre-1955 cards because they weren’t Cubs, I still don’t understand the prices or asking prices for todays modern cards. One thing that hasn’t been mentioned and is relevant, is today’s trading. I used to do a lot of trading but today most younger traders only want PSA 8 or 9 or 10. This goes along with today’s buyers. Traders want to trade for the high graded cards because they think they can flip them for a big price. Lost is the fun of trading – found is only “what can I sell it for”.

it seems to me the younger generatiion only wants 10's. they even shun 9's.