Quote:
Originally Posted by donmuth
My impression is that lot of working age collectors are not enamored with the stock market, 401ks, IRAs, etc. As a result, they have put their money into crypto (not a good week for that... yikes!!), sports cards, and other stuff as "investments". They aren't merely spending a little discretionary income on a hobby. It seems they are trying to make bank on cardboard (or whatever they are buying). Sports card investing is core to their retirement plan.
I was listening to a podcast this morning and one of the guys lost about $13k on one high end ultra modern card that he bought for around $24k and ended up selling recently for $11k. Ouch! His rationale was he needed the cash to make another large card purchase to try to make some money. OK. I understand needing to, and being OK with, taking losses here and there. It seems like there is a widespread casino and status symbol mindset though. So many think/act like they are high rollers and prices will continue going up, up, up and they'll be able to retire early or something.
Personally, I think people are going to get blind-sided by what is coming later this year and next year. There is a saying that you can't eat gold. Well, people can't eat slabbed cards either. Maybe I'll be able to trade some grass fed beef for cards I've always wanted...
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All a matter of time and timing, my man. Live through several of these cycles and you come to understand that they are cycles. There are multiple threads on this board about cards as investments, so not rehashing it here. Suffice it to say that there is a fifty year history of cards as an asset class, and lots of really interesting money is pouring into the hobby infrastructure, so the odds of a fire sale event taking the market for collectibles to zero is minuscule. It will turn down, like real estate, and present some great opportunities for buyers.