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Originally Posted by samosa4u
Well said, Raul.
When the pandemic boom started, everybody assumed that it was the "super-rich" or the "guys on Wall Street" who were driving up prices. But when the bubble burst, those same people started to dump their cards, which hurt prices even more. These guys couldn't make their mortgage payments or pay their line of credit and in the end they got destroyed. So, nope ... not rich ... only stupid ...
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Yes and no. The people who drove up the prices of cards with huge supplies react very differently than those who drove up the prices of rare cards. The former are much closer to commodities: abundant, in stock, continually offered for sale. Those kinds of items are sensitive to fluctuations because they are always available if you have the money, and people can and did plan their buying on a flipping model. If the market stalls out, they are left with a declining asset, and if they leveraged to get it, there will be blood in the marketplace when they sell. But a rare and desirable card will find its market and be hotly contested even as the rest falls, like all of the cards you listed. On the occasions when I've offered cards like that for sale, I stick to my price and I usually get it because I have no reason to negotiate.