Quote:
Originally Posted by bdk1976
Then what do you think is? It certainly isn't due to Jordan putting up 50 against the Knicks last night.
The rich have cash to burn so they are parking it in collectables - other hobbies - such as muscle car prices - have went insane during this time period as well. The poor are spending the cash as soon as they get it on necessities - but guess who own/sells the necessities? The rich guys!
Personally I suspect there may be tax 'benefits' to holding something small and easily/anonymously exchanged as sports cards in some of these situations as well.
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I think the reason the card spiked is because it's been fueled by faux sales, like a lot of cards have. Seller X doesn't actually sell the card, but it looks like it "sold" for a huge price tag. Someone on this board makes a post along the lines of "how did X get this much for this card?". I see that post and sell my similar card expecting that price as a benchmark. Other people see the faux sale and think that it's a real sale too, so if they get my card for the same or similar price they think they've gotten a deal and I'm happy with all the money I got.
But the card that raised the price point for mine didn't actually sell to anybody. Now seller X seems to have a never ending supply of the same card that all hit the block after the benchmark is set.