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DJPeople need real estate to well...live. Real Estate is nuts.
I think there will be a slow down in the card market in the future. If this continues, that 1933 Goudey Malone will sell for $30K in a few years? Not sure there will be a total burst of the bubble as I find it hard to believe that I will suddenly pick up a EX-MT Monte Ward sliding for $150 one day on eBay. Bubble burst is my Iridium stock, 5000 shares at thirteen cents a share.
There has always been a healthy increase in card values, year in and year out. Something worth $300 one year was now worth $425 the next. Then maybe $550. That $550 card is now worth $12K to someone,somewhere where only a few examples in the world grade so high. Insane.
What we are seeing now...I can't really explain. It reminds me oh-so-much of tech stocks where we are blown away every day when a start-up IPO shoots to $130 before the opening bell. The card market is not like the stock market. It's not like tulips. It's not like real estate. It's not like art. It's not like really anything.
Either way, you have dividing opinions on what will become of the business price-wise. I think the high grade common is the Cisco stock and the solid stance on purchasing Hall Of Famers and tougher cards at "reasonable" prices is the Johnson and Johnson.
And you never know, the new collectors (millionaires) may only find this to be a phase and may move on to cow creamers shortly and we'll go back to being Nantucket in the winter.
Doesn't anyone remember the Pez phase? People were paying like $5K for some?
For me, I feel like Mr. Spencer. I haven't made a significant purchase since May and if there was a minor leagues for purchasing cards from large auction houses, I'd be the club house boy. I'd love to part with a few of my cards but it's like parting with my family.
DJ