The Jordan 10 -- Goldin and PWCC
 

Howard posted this in Modern but everyone should see it. So the Jordan 10 has been dropping, and the last one sold last month in Goldin for a still impressive 233K.

According to PWCC's website, they just sold one for.... wait for it.... 840K. Sometimes, reported sales make no sense and I don't care what stupid sticker Brent put on it.

https://premierauction.pwccmarketpla...er-auction/191

I was surprised. This one is a nicer copy - as nice as I’ve seen in a while - but I was surprised. The exquisite Jordan’s went strong as well. Too early to tell what this sale means but I’m not sure this is the new level - and might bring out some more 10s from people who bought as recently as a few weeks ago.

600K more than the last one? 3.5x? VERY hard to believe.

As extra $600K for excellent packaging, IMO. ;)

That $840K jordan wasn't a perfect Jordan, the back is still slightly off center. PWCC is trying to pump those Jordan RC PSA10 back above $500k again.

It’s it’s BS. I’m sure it was bought but with what assets? By What Person/Group of investors?

I’ve been saying it for years PWCC is not a accurate numbers as to the True Value of a Graded Card regardless of their fancy marketing.

I think this is happening so they can drive up the under cards. You would be amazed at how many people on Facebook boards believe PWCC numbers as Gospel.

PWCC has one major positive there are a lot of ignorant people with money who can’t see the forest for the trees.

Not a "regulated" transaction....

A sold the card to B and A=B!

or

A "sold" the card to B and money never exchanged but just hyped news!

Cards that were listed on eBay at "pandemic BIN prices" are just not selling any more. And every time a blue chip gets listed auction-style, it ends lower than the one that sold before it. One way people are trying to stop this decline is by reporting private sales, and I just laugh every time I see those numbers. It's obvious that they want the market to return to 2020, but it's just not going to happen - sorry! Society is opening up and people have way more options as to where they can spend their money. Are you going to take your hot stripper girlfriend to Barbados or sit in your f**king room buying cardboard all day? Have a nice summer, everybody! :cool:

In my experience cards don't triple in price in three weeks, especially when the player is long since retired and the card is not scarce. ESPECIALLY in a flat to declining market.

Was bought by Nick Fiorella or 72wootwoot72 on Instagram. His rationale is comical.

Lots of others playing up the sale on social media too, feels like a pump and dump.

Cardboard! I mean Barbados..

Why cant you do both?

With Ken the leader in Jordan 10s selling one for 223 three weeks ago, anyone wanting one obviously could have found one for not much more than that, if not less. Paying 3.5x that makes zero sense. Zero.

If I invested the money I spent on strippers as a young man into Cobbs & Ruths instead I could buy a house in Barbados...

In my experiences things don't always make sense.
And from Jeff's comment a pump and dump doesn't sound that far fetched.
.

I blame the dummies who buy into this from PWCC they’re all adults who think they know it all anyways so hell let them deal with it.

It's the majority of new money into the hobby...for now...we'll see if the $$$ stays? Read the article in the news about PWCC...and PSA...and this blogger and that hype machine...and that's good enough for this crowd to "invest!"

I mean how many of us are as knowledgable about the stocks we own as we are about our old cardboard????

Stocks trade for the most part in an efficient market and at a price over which you have no control other than to say yes or no. This is like taking a stock trading at 30 and instead of buying it at 30 offering someone 100. I don't know what these people are up to but my spider sense says no good.

I agree with you pete regarding the manipultaion of the jordan rookie. My analogy was referencing the fact that the majority of "investors" in the stock markets...aren't super educated about what they're investing in...kinda like the frenzy of new money in the hobby are just "investing" because they read it somewhere or someone suggested it.

You'd have to throw a shitload of $$$$ at high grade jordan rookies/2nd years to corner the market and create increased demand at this fake price point. A lotta time and a lotta money.

I vote for both

Right but at least if you buy a stock you are paying what the collective wisdom of the entire world says it's worth at that given moment. You aren't paying what some unscrupulous dealer suggests you pay (I still love the guy who reviewed all his bids with Brent beforehand and ended up buying a recolored special at some staggering price) or your buddies on Twitter or what you think might push up the value of your other ones so you can dump them or whatever.

Buyer confirmed on IG for what it’s worth..


Sent from my iPhone using Tapatalk

The Gamestop run is doing its best to change that narrative lol

I hear you. Well it's still true of MOST stocks and certainly large cap ones.

Yeah, not much different then a 1000 various pump and dumps, NFT's, Crypto's, Public Offerings, and whatever else the modern unregulated financial landscape diarrhea's out into the world.

In the end a bunch of dreamers with too much money and not enough smarts end up holding the bag for a bunch of even richer then them con-artists.

Dude also broke a record a while back for highest card ever sold when he bought a Luca Doncic. My suggestion is not to invest money with this guy. As someone once said (maybe Mark Twain or Yogi Berra), the easiest way to have a small fortune is to waste away a large fortune..... See link immediately below

https://www.sportingnews.com/us/nba/...t1wu7e5qfjvcsw

As a previous restaurant owner it sounds like another piece of aged wisdom...

The easiest way to make a million dollars in the restaurant business is to start out with two million.

A reporter asked a Rancher who had just won the lottery, “what are you going to do with all that money?”

The Rancher thought for a moment and said, “Well, I guess I’ll just keep ranchin’ till it’s all gone...

That line has also been used with owning a racecar for as long as I can remember.

Yeah there was something incestuous and off about that one. Luka Doncic indeed, no disrespect intended to Luka who is quite a good young player but a LONG way from anyone knowing his place in history.

I dunno, it only takes a few sales to skew VCP or ebay sold results or PSA auction results etc...

And then you have... wait for it.... FOMO again!!!!!!!!

Are rich people now wanting high end sports cards as a status symbol? Similar to Rolex’s and sports cars.

If so, good for them but bad for the average collector.

Fits well with Wall St. guys buying PSA.

wonder what this means for armpit cards like I collect????

Great for the average collector if we can sell our cards for 30x.



Sent from my SM-G955U using Tapatalk

"Diddley Squat"
 

..Diddley Squat ; the only other people who place any value on our Net54 armpit cards are the other two or three Net54 armpit card collectors.....
http://imagehost.vendio.com/a/204295...YPETWO_NEW.JPG

..

The only explanation to me is the provenance. Being a fresh pulled and newly graded copy. Maybe the buyer trusted it wasn't altered.

Isn't there a lot of concern about altered Jordan RCs? Wasn't there a card doctor who bought up Jordan RCs, trimmed them and resubmitted to PSA?

IMO this number is not a true value for this card, sure it was bought but so what. It has been my believe it was bought by a group of investors with multiple different assets other then cash spread out amongst each other in a effort to drive up the numbers of the under cards and AH.

This is just my theory could be 100% wrong however to me fundamentally regardless of any factors mentioned above this card is not worth anywhere near their recent sale number. I’m sorry it’s just not.

Put me in the column for skeptic. With prices dropping on this and lots of other cards since April, I just do not buy it. Feels like same old BS and if I am not mistaken, this sale was one that took place on PWCC's platform too?

[QUOTE=ullmandds;2124315]wonder what this means for armpit cards like I collect???? Just give them a blast of Right Guard. They will be fine.

The market opened about 700 points down this morning. Many Wall Street pundits are predicting a major correction in equities. If so, card prices should decline, especially modern basketball.

[QUOTE=Yoda;2124504]Good to your second statement John.

[QUOTE=Yoda;2124504]We said that in March 2020 and it went the opposite. Ive given up trying to guess what'll happen anymore

Some prices are inherently not legitimate.

It should also be noted that rich businessmen didn't become rich by overpaying by 3x. They likely are more savvy and prudent about such purchases than the average person.

Agree but just because you're rich doesn't mean you can't get caught up in craziness and overbid or invest in something you probably should not have.

840K?

https://media0.giphy.com/media/cYHl8...92W2/giphy.gif

Exaclty

More likely to me there is some BS going on than it's a real sale where a wealthy guy was THAT stupid.

See link above. It was exactly that.

Moses was found on a stream
Moses was found on a stream
Floated on water till old Pharoah's daughter
Fished him she says from that stream

If the original charade topping out in Jan 2021 were still going on with the Jordan's then an 840K number by PWCC to outdo Goldin makes sense. To me this is just another effort of a run up. Nobody can have that much money or can be that ignorant to drop 840K on a card that is selling routinely for under 300K.

Of course to get to 840 you need an underbidder lol.

Define underbidder, please.

In theory, someone else who wanted the thing for almost as much as the high bidder did, 3x what they go for or 3.2 or whatever it works out to. In theory.

What assets are allowed to be used to purchase from ebay? Can you use crypto? Can a group of people pay for one item ? If the card was sold off ebay don't they have to go by their terms of payment?

Sir Isaac Newton got so caught up in the South Sea Company debacle that after he sold his stock, he bought back in at a higher price and lost the equivalent of $3 million. For the rest of his life he forbade anyone to speak the words 'South Sea Company' in his presence. If it happened to him, it can happen to any of these social media influencers, r/WallStreetBets bros, and many others of an entirely different character.

Believing that story about it being recently pulled from a pack and just graded ...I have some ocean front property in Nebraska to sell you as well.

agreed...and the likelihood is after the card was pulled...it had a docters visit!

Where there is smoke…

As Goodwin pointed out to a friend of mine decades ago, he could report any price he wanted to. That's the great thing about this hobby -- anyone can say anything without having to provide proof, and most people will believe it because that's human nature. It may not be as bad as a certain lawyer claims -- that there is more dishonesty in the hobby than in organized crime -- but it's pretty damn bad IMO.

Rule of thumb -- if something leaves you just bewildered and shaking your head, there's probably more to the story.

Sort of. Unless Brent is guaranteeing the underbidder that he won't win. Not that anything like that has ever happened...

The gentleman has a very discerning eye.

Oh THAT definition. Yeah not sure that one applies here but thanks for playing. We have some lovey parting gifts for you.

I was listening to a Podcast today that suggested that the new owner is going to submit it to Beckett with the hope to get a Black Label.

He should enlist Joe Clemons.

Jordan psa 10 fleer rookie sold last month for $212k in iconic auctions.

Probably not a very nice 10. The one that just sold for 840k was really an 11. Anyone should know that.

.

not psa11. The back is a bit off center.

Also consider the majority of family fortunes are gone within 3 generations. The rich don't necessarily stay rich.

If we've reached the point of high end 10s and low end 10s, we've descended into absurdity. Leon I know you're being sarcastic, but just saying.

Of course we have, Pete! Low grade 10's should be 9's...or 8's!!!!!

Doesn’t this prove that they are highly in accurate and all over the place when it comes to grading? When the hucksters are indirectly calling them out. Making stories up this was just pulled from a pack this looks like the best 10 I’ve ever seen the highest and what a crock of you guys know what. LOL

I think we descended into absurdity a long time ago.

Plenty of rich folks out there who have the same vices as the rest of us, just on a bigger scale. Add in alcohol and there's plenty of bad decision making happening in all income bands.

Seems it needs to be said PSA 10 and perfect aren’t synonymous. So yes one ten can be nicer than another.

Ho doubt, but it's still absurd IMO to be explaining a 600K (3.5x) difference in price as the difference in quality between 10s.