Quote:
Originally Posted by ParisianJohn
I wondered about the exact impact of 2008 since I wasn't in the vintage game then.
I collected cards as a kid in the Junk Wax era of the 1980s and early 1990s, then came into vintage cards in 2012 in my mid-30s. I did a lot of collecting from 2012-2015 but then tailed off after my kids were born, but an circling back now.
In 2012 (if I recall correctly) people saying prices were just starting to get back to where they were in 2008 for low and mid-range cards in particular. By the time I stopped collecting in 2015 I noticed that many cards that I'd bought in 2012-2013 were selling for 20-25% higher than what I'd paid for them. It was a pretty rapid climb.
Last year I had heard about how during COVID people got into cards as a hobby (thanks in part of stimulus checks) and prices were spiking, especially for marquee names. I was pleasantly shocked to see, for example, that the PSA 3.5 Cy Young portrait I bought in 2013 for $600 was selling for something like $2,500. My PSA 7 of Babe Ruth's 1932 Sanella was somehow selling for 15 times what I got it at.
I imagined as COVID was waning and people stopped getting stimulus checks that prices would correct. And now you add inflation and then the war in Ukraine and all these sanctions (which will probably spur some massive cyber criminal activities) and now I wonder just how far they'll drop and for how long.
I'd guess things will discourage low and mid-range card buyers from snatching up as much as they have the past few years, and that this will drop prices for several years. Then again, I'm really bad at predicting things!
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Agree John…..low grade and middle grade stars are not selling anywhere close to what they were selling for last year….they never should have sold for those numbers in the first place.
People are being very very frugal….as I mentioned before higher end graded in auction is immune from any downturn/bear market or recession….it doesn’t matter to them. They’re still gonna go crazy for PSA 8’s and 9’s.