Quote:
Originally Posted by Peter_Spaeth
My sense is the demand for the most part is being driven by wealthy people who see cards as an asset class for their portfolio, not by the collector who had an extra K from a stimulus check and had no outlet for it.
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The answer is probably multifactorial. I'm sure wealthy investors are a factor. Whether they are the primary factor is unknown. However, there are more "common" investors than wealthy ones.
For every Ryan that can purchase a T-206 Wagner, there are probably 10,000 times more looking for a E95 Wagner in a 1. There are more collectors chasing a 1953 Topps Mantle in the 3 - 5 range than there are wealthy investors looking to purchase 8s and 9s.
I'm not sure about the stimulus money, because I didn't receive a nickel. However, wasn't there three separate checks around $1,000.00 each? That's an extra $3,000.00 that collectors had to spend on the hobby. Multiply $3,000 by the number of hobby members, and that is a lot of money that entered the hobby in a short time period. This also only considers the stimulus money, and not money from the collector's personal funds that they also spent.
I think this common collector wave of money at the bottom was more than the big money coming in at the top that was chasing just a few cards. Rising tides lift all boats - even the yachts. Just my two cents.