Quote:
Originally Posted by Republicaninmass
A really Nice 1954 aaron psa 8 sold in a major auction for 27k last week. Recent sales are between 40 and 75k. Less than a decade ago, it was a 7k card. Aside from his passing, what constitutes the price increase? Plenty of MOMO and FOMO investors that are going to be hurt if they need to sell. Even at 27k people are thinking twice as the only upside is if someone someday pays 50k for it!
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Nothing does, you answered you're own question. It was 60% Fluff and 40% impulse FOMO Hype buyers who got caught up. Over this past recent year, 2022, someone in REA also paid $300,000K for a SGC 5 52 Mickey Mantle and in Memory Lane one in a PSA 2.5 sold for just under $90K. Does it make sense? No, but hey it happened, people got caught up in it.