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Originally Posted by barrysloate
Thanks Bill. So it's kind of like finding a lottery ticket.
One thing that strikes me odd is that there is a history of these unique or nearly unique multi-thousand dollar cards going back to the 1990's. And if I am correct nearly all of them turn out to be worth a fraction of the purchase price, or in some cases become virtually worthless. Given that fact, why do people keep spending such insane amounts for them? Do any of these $10,000+ cards actually increase in value over the years? It's easy to say people can collect whatever they want and pay whatever they think something is worth, but nobody likes to see their $10,000 card one day be worth fifty bucks.
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Pretty much like the lottery.
The only thing I can think of as to why this is going so high is the potential buyer wants to get it before he makes it to the pros and hope that Strasburg has a big couple of initial games. After that, maybe he can flip it for more. That is just a guess to me though, I never got into the prospecting end of things.
I've never seen any modern cards sell like this initially and then keep going up. I guess the Pujols Bowman Chrome autographed rookie card goes against that grain but other than that, I can't think of anything and I don't even remember if that card sold highly at the outset. I do know that card was a redemption.
To go back and answer why people continue to drop money on cards knowing that past history shows them dropping? I can only think that they believe the card they are after THIS time will be different.