Quote:
Originally Posted by mechanicalman
Ryan, my presumption is that your question is a rhetorical one; i.e. that you still believe it makes sense to invest/buy the blue chips you reference despite the possibility of a bubble. (If I’m wrong in that conclusion, please correct me.)
But if I’m accurate in my interpretation, then how do I reconcile that point with the earlier comments on this thread when you called the purchase of a centered Walter Johnson portrait “not right” and “dumb money.”
Is it only “smart money” to buy the blue chips in which you have a vested interest?
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I do believe it still makes sense to buy the blue chips. And I continue to do so.
My comment earlier in the thread that the Wajo portrait was not right, (quite clearly I think) referred to the price someone paid for the PSA flip vs the SGC flip; I think the SGC card was superior, if not equal to, the PSA flip, yet the one in the PSA flip went for more than double. That I do think is fishy and not right. I have no issue with someone paying strong for a nice example of a great card. I do think something is not right when a PSA 4 sells for double an equally nice SGC 4.
As for stupid money, that reference had nothing to do with blue chip cards. I believe there are new and fairly unknowledgeable investors in the “hobby” and they are chasing things and driving prices to alarming heights - blue chip or not. I can understand that happening with blue chips, but I think it is happening with many cards, especially if the cards are in PSA flips and sold in pwcc auction. And I am not saying there is anything wrong with PSA or Pwcc. I just think those are the big names and new people looking to invest (stupid money) are chasing
To be clear - I believe it is almost always a good time to buy the best/better of any asset worth owning. I think things are very expensive right now, and they may go up or down for here, but in the long(er) run, it’s tough to lose, and often easy to win, with blue chip.
I think something is fishy when a PSA 4 wajo Portrait sells for more than double what (I believe to be) a better looking sgc 4 wajo Portrait sells for
I think there must be increasing amounts of new “collectors”, likely well-heeled, investing in cards. I presume (but of course don’t know) that many are fairly unknowledgeable but motivated to buy, and are chasing cards (blue chip and not) and taking them to alarming heights. I am referring to this new collector as stupid money.