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Old 08-30-2023, 10:54 AM
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Exhibitman Exhibitman is offline
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https://adamstevenwarshaw.substack.com/p/selling-it

I am sorry for your situation, Phil.

As for what to do, no offense meant, but it sounds to me like you need a bit of a reality check. Selling off items to buy into a rapidly rising 'hot' market and not having a plan to take profits fast was NOT the right plan; it is a mistake that has been made repeatedly since the junk wax era. At this point, I don't think it makes sense to try using the same model to chase a different result. Your plan is inherently risky because card investing is a highly speculative, competitive field with terrible entry and exit costs and literally no bottom to a bad investment except the commons bin.

Your path, based on your statement of status, is to get out and stay out of the card business. Like a fat woman in a bikini, it is not for you (i can say that because I am a fat man who doesn't take his shirt off at the beach). You say you need the money to live. Any financial planner will tell you never to speculate with money you need. Whatever you get out, do not put it back in, bank it. And check with your CPA about tax losses that you might be entitled to claim on a soured investment.

Hoping for a massive bounce on the Jordans is folly. Just to get back to par would require a raging bull market and, frankly, there are enough Jordan cards out there to make that unlikely in your compressed time frame. Best bet would be to arrange a private sale (to avoid the transaction costs) with a retail collector. About the only thing I can think of is that if the cards are in Beckett holders, cross them to PSA. If they cross, that will be worth it.
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Last edited by Exhibitman; 08-30-2023 at 11:06 AM.
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