$202,000 Jeter Card
 

Looks like people aren't exactly shaken by PWCC and PSA:

https://www.ebay.com/itm/1996-Select...-/352816860218

Always interesting to see a closing price like this for a card that (raw at least) I would certainly have passed over if I had seen it in a $1 box at a card show. I have much to learn.

Imagine being the people that scrolled past cheap Microsoft/Apple/Amazon stocks...

What a crazy hobby we participate in. One man's $1 card is another man's $202k card.

Do you think that somebody paid sales tax on that card, or is it going straight into "The Vault"?

+1

Holy crap!

Some of the modern collectors buying cards like this might skip past a magee error or even a plank in a box of t206 commons. That's the great thing about this hobby. Something for everyone. Even if guys who collect in one area or era don't understand another.

Granted, I know nothing when it comes to modern cards, but if I saw this card on a Dealer's Table at the National for over $20, I would have kept walking.

Is this the Wagner of modern day cards, or is there something else that's equally rare/desirable/pricey?

If you're asking if it's trimmed like the Gretzky Wagner…

Yep!

That's way short for a modern card.

The landscape of card collecting is changing. New generations in...old generations out. Two different perspectives right? Just be glad the hobby is live and well!

The Wagner of modern cards is the 2003 Exquisite Jordan/LeBron Logoman or the 2009 Bowman Mike Trout Superfractor, both 1/1.

I don't see anything on any edge suggesting trimming. It also looks like a very old grade when the card likely wasn't worth much.

It's really short though...

while I agree that edge quality is the most important, between the card being short and who is auctioning it I think it's questionable.

A 1/1 is too rare to be the modern equivalent of the t206 Wagner in my opinion. It would have to be something like this Jeter, or a Lebron, Brady, or Jordan card that can at least become available once every year or two.

Just a matter of when, not if that person has Buyers remorse. No long term market for that (imho).

So let me get this straight —this is one of 30 of this card. I know it is a PSA10, but it is one of 30. The buyer of this card believes that this is a good investment? Let me think, Ruth rookie or Jeter rookie. I guess I’ll go with the Jeter because his card is shinier. Wow, just wow!

Holders are not always uniform. I have cards that look short in the holder but are full size.

I think the flaw with that thinking is that it is not necessarily an either/or choice. if someone has $200K to drop an individual card, what makes you think they don't also have $200K to drop on a Ruth rookie?

Eddie-If I had $200 million to spend on cards I still wouldn't pay $200,000 for that Jeter card (or $20,000 or $2,000 for that matter).

I saw that this card had ended above 200K and just shook my head. Not because I am more of a vintage person and my thoughts swirled with what vintage cards I could have bought with that money but rather why anyone would pay that kind of money for a card that is so....new.

I know...to each their own but I just have a hard time wrapping my mind around this one. But I guess if I had screw you money spending this kind of cash on a modern card would not be a big deal. I just hope the buyer didn't purchase this card with the intent of flipping it because I cannot see the ceiling being much higher.

Jay, I am with you here. But not everyone collects stuffy old cards of dead guys, like us. That’s why this hobby is so great - there is something for everyone.

I like when modern cards sell for big money. What’s good for modern is good for the whole hobby.

People are over thinking this. There is enough money floating around to support art prices where three have sold publicly for more than 250 million and the highest being 450.3 million.

This is modern art to someone. There are people out there that can pull the trigger on items they want knowing they are going to go to battle with someone else that has just as many resources at their disposal and now it comes down to who wants it most. A badge of honor if you will and you get to hold it in your hand.

Just think if you could wait all week and then launch your snipe of 200k.

Sounds very awesome.

I can't place myself in these shoes. You have to have serious dough to be able to buy cards like this and be able to deal with the repercussions.

At the end of the day baseball cards are king and so the market for cards like this is a lot bigger than people think. There might only be a few that will pay 200k but there are plenty that will pay 100k so in reality no one can question this card being a monster. The question is just where does it go from here? That all depends on supply and that is always the unknown.

Who’s overthinking this???

Just about every person posting. You can't logically think a modern card is worth 200k.

The only answer is the free market and it moves prices to levels that always seem unbelievable. Many times the sharpest movers higher just go higher.

None of us have a clue if this a good price or a bad price. If the buyer is happy at this moment that is all that matters.

Whether it's Ruth or jeter, it's all just pieces of cardboard. There is no actual value in any of this in a traditional sense.

Exactly.

I have read numerous times people predicting the demise of vintage in the coming years due to lack of collectors from the next generation having an interest. It is possible. I don't think it is probable but the risk exists.

The risk exists here that these modern cards that have exploded go higher. You can get on EBAY and find a 1951 Mantle Bowman anytime. Many would argue it is a much better card. But you can find one.

If you want this card you might have to wait years to land one. When things are hard to get people want them more. It is just human nature.

These type cards appeal to just that and why I am never shocked when the prices go for big numbers.

Jeter will always be a debatable figure from a historical standpoint. Not debating historical significance but I would bet if you asked any Yankee fan born after 1970 who their all time favorite Yankee is, a strong majority of them would say Derek Jeter. Every New Yorker in their 40s grew up with Derek Jeter. 4 championships from 1996-2000 and Jeter was the center of it all. Just given the modern media landscape the Jeter name is probably bigger than any pre war type player to the generic baseball fan. Again not debating baseball statistics but derek Jeter definitely has historical significance. I think we’ll see it again in December when he’s the second unanimous HOFer and in July when Cooperstown has the largest attendance ever, as anticipated. That’s a lot of fans and a lot of money to follow. Jeter, Jordan, Brady different level to the modern investor.

Like Huell Howser would say: "That's amazing!"

So, between BGS and PSA it looks like 21 of these cards have been graded so far. Makes ya wonder how many of those remaining 9 cards are in Gem or even BGS "Pristine" condition. Just imagine what a BGS 10 Black Label might sell for? A cool half-million, maybe more? Simply B O N K E R S!

+1

For me, it's all the various "rare" Jeter cards printed in the 90's that makes these prices a bit silly. Like the '93 SP Foil Jeter card, for example. Didn't a PSA 10 sell for $99,000 last year? And there are 22 of them graded 10 by PSA .... oh, and not to mention, there have been 253 graded 9.5 by BGS!!! :eek:

How about the ones that haven't been graded yet? Maybe a dozen more PSA 10's? Perhaps some BGS Black Labels yet to be graded?

or 20 bucks.

Absolutely mind boggling.

For $202K I'd have every spotted tie OJ and still have money to buy a bunch of other cool cards.

I agree completely with the bold excerpt. Everyone collects differently. I am a tiny, tiny fish in the hobby, but I love cards that are rare and might pop up once a year or once every few years, as opposed 1951B Mantle cards or T206 Cobb cards or 1933 Goudey Ruth cards that can be found any time. That doesn't make it right or wrong, just a different collecting interest.

My buddy Rob (WCK) a year or so ago landed a Frank Gotch card he had been trying to land for fifteen years.

T229 Kopec Cigarettes Sports Champions Frank Gotch Card

He was a nervous wreck all week and then launched a no lose snipe that ended up being three times what he paid.

This is the kind of hunt that drives people to spend their hard earned money on cards.

While some, myself included find this kind of rarity more exciting, others would rather something from modern times and that is okay too. Derek Jeter is not some rookie that hasn't played a game yet or a star in their third year that may get injured. He is a legend and is cards are reflecting legend values.

I think the biggest appeal to most modern cards is that the subject is still alive and so you own stock in them. You own a piece of their legacy and people love that. When I showed Ric Flair a copy of his 1982 Wrestling All Stars in a Gem Mint 10 he thought it was awesome. He has no desire to collect cards but he likes high quality stuff and he respects the fact that there are fans out there that seek out his collectibles.

We haven't been in contact recently but Evan Mathis and I used to text back and forth frequently and he tracked down his best cards. I would too! How cool would that be to see yourself on a football card and then go find them in their best condition. Sounds amazing.

Trying to rationalize how others collect is a pointless exercise. Everyone is different and I have always said there is no right or wrong way. Do what makes you happy and don't worry about the rest.

We
 

We don't know if this is someone who is playing shenanigans to establish a new high price on this card so they can sell theirs later down the road for a higher price.

I guess artificial scarcity is no different than real scarcity?

That was the exact same thing that was said on here when the Michael Jordan PMG card sold for crazy money a year or two ago. Then it was revealed that the buyer was Nat Turner.

We don't know who the buyer of the Jeter card is; maybe it is Nat Turner or maybe it is someone else. But I don't understand at all how you can say the buyer will absolutely have buyer's remorse over dropping a couple hundred grand when there are people at the top levels of the hobby with a net worth measured in eight or nine figures.

Yep. Relatively speaking, 200K for the winner might be like spending 2K, or even 200, for others of us.

Exactly.

Just a few weeks ago Justin Bieber posted some of his Pokemon PSA graded cards. I just looked it up and it is estimated his net worth is 265 million. If someone in this position wants a card they can pay whatever they want.

The other thing that people forget is that the government is going to take half. Enjoy the funds while you can because you could lose half on every purchase and your heirs will be in the same place.

I believe Brent Mastro said, "it's the finest example of a mini known to exist."

I think an employee won it :):)

These types if comments are common around here every time a modern card goes for big money. I don't understand the mentality at all. Rather than criticize someone for how they spend their money why not just be glad another segment of the hobby is doing well?

Just because you, or other board members don't understand the significance of this card does not mean there is no long term market for it.

OMFG! There are no words

I am sure we've all bought cards because we liked them, not necessarily because we thought they were a great investment.

This reminds me of a T-shirt I once got as a gift, as an avid golfer. It was a picture of a Herman cartoon Two guys are holding golf clubs, while a single guy in the background is carrying a fishing rod.

The one "Herman" golfer says to the other "Can you imagine some idiot getting up at this time of the morning just to go fishing?"

Have to agree here. It isn’t all about investment and it certainly isn’t all about whether it makes sense to us. When you have to have a card many times you disregard the logic of others and you just get it if you can afford it. Certainly doesn’t have to make sense to anyone else. You can argue whether or not it is worth it or not but it may not matter a bit to the buyer. Or it may. All rhetorical discussions.
But that certainly is a lot for really any card. It is fun to follow these auctions and often see them just explode right before the hammer

On a comparatively trivial scale, I've done it a number of times myself, paid stupid money for a card I'd been looking for for years and could not be sure another one would come along. Mostly on the nonsports side where there really is a good chance you may never see a particular card again.

I think it’s crazy that people treat baseball cards as an investment. I expense every card I buy. When I croak whoever gets them will find out whether they appreciated or depreciated.

I'd definitely fish it out of a dollar box...

HALF? David, how do you figure HALF?

I stand corrected. With the Trump tax cuts they lowered the top rate to 40%.

It should have been clear I was referencing someone like Bieber and with his net worth as a single guy the first 11.4 million would be sheltered and all other assets taxed at 40% on death.

I started a thread in May 2018 about the Jeter 93 SP PSA 10 that sold for nearly $100k, and part of what I noted was how I expected more of them to be graded, diluting the PSA 10 population. The population at the time was 22, and it still is. So much for that hypothesis.

I'll echo the sentiments that it is a great hobby because people can enjoy it in many different ways, and that a healthy and robust modern market is likely a good sign for the vintage market as well.

And it's also great that both the modern and vintage collectors can each salivate over a card with a significant level of scarcity of a sure-fire HOF shortstop who is strongly associated with a single team that sells for six figures and it's not even a rookie card - and all the while those collectors are ogling different cards from different eras. :D

David, it is my understanding that the current, top federal income tax rate is 37% - for an individual taxpayer, this rate applies to taxable income in excess of $510,300: https://www.quickenloans.com/blog/fe...e-tax-brackets So, even with the addition of a state income tax (for those states that have income taxes), very few, if any, folks are going to pay 50%.

Estate tax. I used the word heirs.

Not income tax.

In terms of income tax a guy like Bieber would pay 50% if he lives in CA, NY or any high state income tax state.

David, thanks for the clarification.

Sure thing.

The top estate tax bracket used to be in the 55% range and then with the exemption you would net about 50%. Obviously many have used fancy estate planning techniques and altered this some but the point is the same. If you are mega rich a huge chunk is being confiscated when you die. If Bieber died tomorrow his estate would owe 101.44 million using the 265 estimate. Might as well blow some of the dough on whatever you want. On items like this the higher the price goes the more exciting it becomes so it is a win win. If it goes up in value great. If it goes down no big deal.

A bit off-topic, but I dont understand people paying hundreds of dollars for no-name mirror blues and golds in this set. You can get PSA 10 mirror golds of top NHL players for $100-200. Yes, smaller market but you could buy every Gretzky mirror gold in PSA 10 and have most of your money left over from that Jeter. Oh well, its not my money.

Don't take this as me being snarky, but I don't get how the cost of a Wayne Gretzky card would help out someone who is a Jeter/Yankees collector. :confused:

Someone dropping $200K on a single card is probably not looking at how far they can stretch $100-200.

I wonder how it would work out if someone claimed a card sale like this under capital gains.

That's both strange and interesting. Aside from holders for stuff like Bowmans, there shouldn't be much variation of size at all. The molding shrinkage ratio for polycarbonate (I think that's what the slabs are, but haven't verified) is .5-.7% not much at all.

Capital gains tax on collectibles is 28%

+1

I live in Washington state. When Jeter announced his retirement, I realized I had never seen him live. So I bought tickets in February to his last home series in Seattle versus the Mariners. I'm not even a Yankees fan! I even took my toddler so he could say when he's 65 that he went to a Derek Jeter game (granted he can't remember it). We sat out in the section that is normally "King's Corner" with the Felix Hernandez fans. I'm not lying that I hardly saw a Mariner's jersey in that corner. We were surrounded by people who had New York accents. He is an icon. Biggest player of my generation. I doubt that will be the last Jeter card to hit that number. Mike Trout might be a better player, but unless he gets those WS rings, he won't compete with Jeter for legendary status.

Yes, it's hard to get the legendary status Jeter seems to have when you don't get to play for winning teams. In addition to Trout, just ask Teddy Ballgame.

I’m a life long Yankee fan, but I honestly have never drunk the kool-aid when it came to Jeter. Granted, he was a great player. However, in my mind, he was never better than the third best player on the Yankees for most of his career. I consider Mariano and Arod to be above him. I also thought that Jeter was somewhat selfish when he refused to move from shortstop when Arod, a better shortstop, came to the Yankees. I think mentioning him in the same breath as Brady and Jordan is absolutely crazy.

Agreed, I could have been more specific. i was speaking strictly from a popularity standpoint, not as status as the greatest in their sport. For many different reasons Jeter’s popularity transcended his sport into the mainstream like Jordan and Brady where the casual or even non fan recognizes then.

The irony is that for the second half of his career Jeter played with a guy who was the far superior baseball player, but the unique circumstances just fueled Jeter's popularity.

Are you referring to the guy that was on steroids his entire career?

A major factor in the Jeter perfect storm, the image (true or not) of the squeaky clean boy next door amid the sea of cheaters.

Not to derail, but when I recently heard the Patriots were playing at FedEx Field vs the Redskins I bought tickets for the family and went to watch Brady play since the Redskins are the closest team to us (3 hours). That place was PACKED with Patriots/Brady fans about 70/30. I knew it was probably going to be the last shot I had seeing him play in person and that's how most of the people in our section felt as well.

Times have changed. I grew up in the DC area and in the 70s and 80s, unless you had connections, Redskins tickets were hard to come by.

I went to the Rams vs Packers game last season in LA. I'd say at least 70% of the fans were rooting for the Packers, if not much more. It felt like a home game. I thought this was in large part due to packer fans traveling or those like myself who have relocated but have come to find out it's pretty standard for most Ram and Charger games out here.

I agree these high prices are good for the hobby, as silly as they are. There are lots of silly and outrageous things about this hobby, and in instances such as this bonkers Jeter auction, we get the opportunity to have a good laugh now and then. Double benefit as far as I'm concerned.

I may be wrong, but I don't think the Gem Mint card populations grow much from year to year, generally speaking. I'd expect that eventually -- say, 10 or 15 years from now -- there might be a few more that have been graded PSA Gem Mint. Or, maybe a couple dozen more that have been graded BGS 9.5 (and perhaps a couple BGS 10's by then, as well).

You'd have to run the numbers to see what works best. I believe the capital gains tax for collectibles is 28%. You could set up a card business and file a schedule C, and see whether that works better than using a capital gain when the costs of starting and operating a business are considered. You could also set up an LLC or S corporation, capitalize it with cards, sell the Jeter, and take the section 199A deduction, which deducts the first 20% in pass-through income from the business, then you pay regular income taxes on the rest. There are limits tied to income levels and certain activities, however, so you need a good tax planner to work you through it all.

But don't take my word for it...I don't give tax advice and when I do I usually get it wrong. The only advice I will stand by is "pay the taxes"; if I have a tremendous windfall because I busted a pack of cards 20 years ago, I am going to enjoy it and not get all bunged up about the taxes.

:D:D:D, me too.

Garbage card for a garbage player.

Wonder how he would have done in San Diego or Kansas City...

- M.

i wonder if this was actually paid for ..doubt it

It seems some individuals are making more mint vintage cards daily. And others are getting away with faking certain stamped backs (not referring to Holmes to Homes, they can be printed, I don't care). As for the Jeter card. It's a free America. Bless capitalism. :)

Bieber is married to Hailey Baldwin. How would this affect his estate tax?

I don't know about "squeaky" clean. I recall a time when I was watching a game on TV, and he asserted that a pitched ball had struck him, and was then awarded first base. The slow-mo replay clearly showed that the ball completely missed Jeter. The guys in the booth even praised him for his dishonesty, saying something like, "Well you have to give him credit for doing whatever it takes to get to first base and help his team." Just a cringe-worthy moment for the youth of America everywhere to see this icon of the game cheating for his team.

Reminds me of ARod swatting the ball out of the pitcher's hand on a close play at first against the Red Sox and claiming it happened as a result of his natural running motion.

Just double the exemption

Ha! I remember that one too! Classic.

Didn't he yell out got it or something while running the bases on a pop fly and got the infielder to look away long enough to drop the ball?