Not being flippant, but is this not also potentially the "greater fool theory" at work?

Everything goes up, until it doesn't.

In working with my compliance department this and future offerings will be more complicated than I realized. I have sent an email to Ezra to cancel my future investment in the card.

sometimes you have to go through the process...I'm glad to hear it!

How so?

When I heard about this at first, I thought that it might be a good opportunity to dollar cost average my way into a big card. For example, A 52 Mantle might be $50,000 and have 1000 shares at $50 a share or something like that. I could buy 100 shares at $50 and then over time as the price went up, I could continue to buy share, i.e, the next 100 shares are $55 a share, then $60, all the way until I had purchased all of them and had the card for say $60,000 and it took my 4-5 years to buy up all of the shares.

I sent an email a couple of weeks ago to ask about this scenario asking if I would be able to eventually own all of the shares and when I did, could I take possession of the card.

I got this response:

Since this thread began, I have realized a couple of things. First, we are talking super super high end cards like the 2.5 million PSA 10 '53 Mantle and not a $50,000 '52 Mantle. I also saw in the thread that they would only sell off 60% of the equity - so my quest to buy a high end card on glorified layaway over time couldn't happen even though they say you can submit to acquire the entire asset outright. There are a lot of things that seem good here in theory that would be tough to execute without issue. So, I will have to wait and watch on the sidelines to see how this develops and go back to my cookie jar as a way to save and put back for those elusive expensive cards.

https://uploads.tapatalk-cdn.com/202...e11937389c.jpg


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Huh? MILLIONS of entries and Sean won? Wait, isn't he an employee at this company or knows these guys? I'm confused.

I don't get it. Is this for real?

Only the SEC knows for sure.

1953 Topps PSA 10 Mickey Mantle IPO on Collectible App a Game Changer
 

Yeah it’s real , Collectable posted it on their Instagram, definitely some good luck that he won. Sounds like he may have some cards he tried to list based on his comments, but he’s connected to Evan who I understand is involved with Collectable. And he certainly has been talking very positive about them , and has said “he’s in” , so maybe he owns shares of the 53T ... who knows , but he certainly seems to have some vested interest.

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This explains the "millions" of entries and why someone who is so visibly promoting the app would be the winner, apparently that's how you get more entries. Smart contest from marketing perspective.

Looks like their 2nd offering today was a LeBron James rookie for 50K with max 5% investment and it sold out in 5hrs.

Still not for me, but wish any investors the best of luck.https://uploads.tapatalk-cdn.com/202...8ca07a0dd2.jpg

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This might very well be successful. Having said that I can remember what killed the fun of the hobby for me in the early 1990’s was the greed and the amount of greed I see now is pushing me away again.

What an unbelievable stroke of luck for Sean Bassik to win that contest. ;)

yeah, if you didn't know any better you might be suspicious of that outcome. :rolleyes:

The apps are growing like cockroaches:
https://www.sportscollectorsdaily.co...yctyO-mWfrYPbI

Oy vey

Can someone explain to me why they would put money into something that they can't get out of unless the majority owner decides to sell. What if he never decides to sell?

They have the plan to allow shares to be sold to others while the original asset is just sitting in the vault unsold.

So you can sell to others who have already invested in the same card? Or new investors? Or both? And I'm assuming the share price never drops from the original investment price, but you'll just have to pay a commission fee to sell?

And let's say Mike Trout kills a hooker and his cards drop in value...can you sell at your same investment cost?

The price will float along with the demand for the shares. If the demand is higher and the share increases 30%, then the card market value would be computed at $3.5 million. If shares start dropping, you can still sell them at a lower price. But yes, you have to do them within the App; that's the exchange. So you can sell to anyone else who has the app installed, I would expect.
And surely there will be transaction costs. That's part of mining the most value out of this project.
Also, IMO, highly susceptible to pump and dumping.

Got it...thanks!

Alt and Colletable just seem like accidents waiting to happen for potential "investors". I just cannot see anything favorable taking place for anyone who is buying in. Whatever happened to the good old days of doing pack wars? This sh!t just got real.