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Dmitri Young collection prices!? WHAT!
Is it only me or is anyone else completely FLOORED by some of the final prices for the Dmitri Young Ccollection - Clemente Rookie 432K!! Aaron Rookie 357K! Rose Rookie 157K! Unbelievable - who is buying these cards!!
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Sadly I suspect people looking to enhance and diversify their investment portfolios, who care not a bit about those players, or the cards themselves...for whom these cards are nothing more than commodities to be locked away until they've matured and can be flipped for a 20 percent profit...sad.
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I also agree, sad, especially for anyone hoping to turn a profit at those prices.
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The Clemente was purchased by a collector who posts on the PSA message board (EOMint). He says that the Rose and Aaron were purchased by a friend of his.
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What about a 77 MARK FIDRYCH for $3,493. I can't imagine paying more than $10 for a person who had a four year career.
another one that got me thinking was the 90 FRANK THOMAS NNOF - $24,244 or how about the Johnny Ray card... or they like to call it Barry Bonds error :rolleyes: $2,125 |
totally nuts no matter which way you slice it.
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It's funny, because Dmitri Young had someone buy these for him so the prices wouldn't be driven up by the sellers. Then he turns around and sells them with his name put on the slab to drive the prices up. Smart business man!
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What surprises me is that the '52 Hoyt Willhelm rookie fetched "only" $25,000. Honestly, if I that sort of dough to throw around, I would've been willing to pay twice that. I mean, we're dealing with a unique example, a rookie card for a Hall of Famer, a Topps high number, and just a damn beautiful card (Wilhelm's sleepy eyes aside). What more can you ask for?
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According to this article-
http://thebiglead.com/index.php/2012...t-for-charity/ -Dmitri spent $5,000,000 to build this collection, yet at auction the lot raised around $2.5 million... Unless I'm missing something, the dude got taken to the 'effin cleaners on this one... |
If that article is accurate he spent $5 million on 497 cards. That's $10060 per card. That includes all of those "rare" Bonds rookies and Dmitri Young rookies that were offered. I find it hard to believe that he could have spent that much. A lot of the money spent had to go to overhead for the guy he had fly around buying his collection. Clearly the cards aren't worth that much, as the auction results show.
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And he's donating "part" of the revenues to charity. A shame he didn't take the 5 million and donate that, instead of embarking on a vanity project buying perfect 10s, and turning that 5 million into a 2.5 million net loss
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Call it sour grapes, but I hope to live long enough to see the investment market for collectible cards collapse. Then, grinning toothlessly while my palsied hands caress my old pasteboards, I will know they are worth exactly as much as those once owned by the great Dmitri.
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he could have spent the 5 million on as many t206 wagners as he could hoard and he would have probably made a profit. the prices for wagners is crazy too but understand the mystique and lore, not the mystique and lore of a psa 10 joe shlobotnik rookie card.
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If grading serves and the registry never existed, would these gem mint tens get anywhere near the premium they have received over an eight or a nine? Did the Willie Horton RC get a lot more desirable in that gem mint slab? It did get a lot more expensive. PSA sure make Dimitri a lot of money on that one.
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I'm a little surprised by some of the comments I've read here so far about the SCP Auction. I'm not saying that I personally think any of Dmitri's collection was worth what was paid...however, his collection of PSA graded RC simply has no equal in the market. The majority of what sold was psa10 pop 1 versions of Hall of Fame Members. What's confusing about the attraction there?
The 55 Clemente is an absolutely beautiful card, as is the 54 Aaron, and I'm not surprised at the hammer price for either. I questioned several aspects of the Rose when I first got my SCP catalog and I was surprised that it fetched what it did. Lastly, it is NOT simply an "investor" that is buying these cards for financial purposes. These are baseball junkies, guys that post on other card forums everyday just like you do, that bought the vast majority of Dmitri's collection. This auction, like many other recent auctions, as well as sales on Ebay, have all pointed to a rally in high grade, low-pop HOF RCs from the 50s-70's. |
Rally is good, said Gordon Gecko.
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The fact is, people who pay those kinds of numbers for a card, are actually paying for the holder. Yes, the card is in wonderful shape, but take it out of the holder and they wouldn't have paid that amount. I appreciate that some people collect holders, and I have no problem with that. Doug |
I think you're missing the point that these buyers like being able to say that they own the best of something.
We can all debate what the true value gap should be between something deemed to be Mint vs. Gem Mint (according to TPG standards), but when there is only 1 BEST version of something (that can be a card or a coin or a comic or a house), there will always be people willing to pay a significant premium to say theirs is best. What I hear you offering up is hypothetical "if you take it out of the holder" then....etc. etc. etc. I don't think you understood why the owners of those cards had them graded to begin with. I've never said that any TPG was perfect..none of them are... But some people like to think the services offered by TPGs are meaningless and that the grades provided by TPG are meaningless. That's just an absurd notion that is completely out of sync with today's marketplace. |
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And BTW safe deposit boxes are about the least safe place to keep your valuables......The contents are not fdic insured and when the bank doors are locked (as in the great depression) Or after hours, The contents are not yours! And those banks can stay closed indefinitely. If those banks and this economy fails (and I believe it will never recover) your shit is gone! aloha, dave. ps Yes this hobby has been destroyed by TPG. Crooked bastards! Don't give a shit about our beloved hobby and and and shit time, for another bowl and a cold brew. aloha, dave. |
A lot has been said already on this thread, so I'll look to keep it rather short. I can see paying $250.000 for a Wagner T-206, or another true rarity that only has say 50-250 total examples in existence. My hang-up is basically I can understand paying $20-30K for a Clemente 10. I love vintage cards. But to pay what it would cost to buy a house ( or 2-4 houses depending on what part of the country you live in ) for a baseball card, that has hundreds of really nice looking copies that could be bought from between $2,000-$10.000. I just don't get it. But that's what makes the hobby great, is that everyone likes different things, etc... In conclusion, I really can't see these Young cards selling for this much ever again. I think that he caught lightning in a bottle by offering them all at once.
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bump for peter ;)
end of story. |
If only Dimitri had waited 4 more years...........Doh!!! millions left on the table? Maybe ten million? Did he have 10s of the Clemente and Aaron?
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+1. It's a good thing. |
He probably wishes he would have most of those back considering the market today.
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i know of 13 of them that he aint getting back! :D
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simply don't wanna put out any sugar water. |
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I doubt Dmitri is even aware of the current market - what's a couple mil. |
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