Quote:
Originally Posted by Hankphenom
I've often wondered why anyone who can totally afford whatever they want--and I mean totally, as in no amount of money they could spend in any sports auction would mean anything to them--stops bidding on something or things they set their sights on. I've decided it must be that at some point, they start feeling stupid for continuing way above what their information tells them an item is worth. But even then, if I was in their position, I think I could fairly easily convince myself that what seems like a ludicrous bid today could likely turn into a good or even great investment over time, given the history of rare stuff in the hobby. In the end, of course, the bidding always stops somewhere, and it's fascinating to ponder "why?"
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I suspect billionaires don't care about baseball card ROI. Not that they aren't investment conscious -- just that a card of Wagner or Cobb, however its price moves, is going to be pretty inconsequential relative to just buying the Pirates or the Tigers.