Posted By:
Lee PlummerAs a member of both eTopps and CT, just wanted to chime in and give an opinion based on the target audience.
I have been collecting Baseball cards for over 20 years. Those who like this idea of owning, if even a small part, classic ball cards are normally the average joe. To say that we are not sophisticated or saavy enough to know what we are doing is, well, boorish. You would actually be surprised at what some of these collectors do for a living. All I ask is not to look down your noses at us. Not everyone makes 6 or 7 figures a year.
I watch the markets of pre-war and post war cards, but I also have to dream of the day I hit the lottery so I would be able to actually OWN one. Not with this market. I do not ever expect to become rich from this idea, as the card value is pretty much based off those cards that have sold or will sell in the future. Not a very large margin for profit. I will tell you that there are some only interested in turning a buck though.
I view it as a way to SLOWLY accumulate enough shares to actually own it, someway that would not "break my bank". Is that so wrong? I guess you can view it as a lay-away plan for card purchases. If he never allows for a card to be released, well then, we may have a problem. I also doubt, for the fella willing to plunk down $3,000 bucks, you would get even 50% for that. The guys who have been playing the eTopps game for awhile are kind of wily in this market. As for 51% ownership, I, too, wonder what the legal leg would be for possession. Would you own it in name only, since more shares are on the market, or do they retain possession until 100% ownership is reached? One would definitely have controlling interest of the card at 51%
As for the legal aspects of it, seems some of you would know more about that than me. Although, the securities trading aspect of this did cross my mind.
As for the CT staff, they are very well-respected members of the eTopps community, and I highly doubt they would do anything underhanded that would besmirch the reputation they have worked very hard at attaining. No different than that of those who regularly post to these forums. Could it happen, sure, again just like it could here. Unlike taking it to court though, I think we would be looking for a pound of flesh "wink wink".