I consigned a card to one of the AH advertisers here at the height of the bubble that sold for nearly 200k. Today? Maybe $125k? There was a major run up in prices. Some were legit sales; and others prob were not.
I seem to have missed the government handouts. I didn't get a dime.
Quote:
Originally Posted by Topnotchsy
I have no way of knowing whether the really high sales were legit or not. But I am quite confident that there were many, many people who bought into the bubble.
Prices were skyrocketing, the narrative was that VC and other investment money had entered the hobby. A huge glut of people seemed to join the hobby during COVID (can't that couldn't be spent on experiences was being spent on things, and gov handouts meant a lot of expendible cash in the market).
With those factors and a crazy hype machine running, I believe that a ton of legit sales occurred with people buying into the hype, and in many cases, people spent money they did not have.
Thankfully for me the areas I collect are niche enough that they didn't go through the volatility (which mostly seemed to hit more popular items). It sickens me how many people who were unaware got hit really hard, whether it was new collectors who had no reference point, or vintage collectors who value what they collect and believed that others were finally catching on, not realizing it was a bubble.
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