Dmitri Young collection

[paul]

Have any of you been following the prices bid so far on the cards in the Dmitri Young collection? $139,000 for a Clemente rookie. $87,000 for a Reggie Jackson rookie. Can you imagine the gorgeous 19th century and early 20th century collection you could put together for the price of these cards? I guess everyone has their own priorities. But I'd gladly take PSA 7s of the Clemente and Jackson for the cost of a rounding error, and spend the rest on the true vintage stuff.

[ullmandds]

That makes me want to vomit...actually I almost did?! Sooo many fools...with sooo much money!!!!!

[paul]

Just noticed there is already another thread on this. Sorry for the duplication.

[paul]

The final results are in. $432K for the Clemente rookie and $357K for the Aaron rookie. To each his own, I guess.

[ullmandds]

mind boggling...a nice home...or a gem mint clemente rookie card....uhhhhhhh...I think I'd opt for the $$$$$$/house Bob!!!

[drc]

I agree. Though I think the Jackson, Clemente and Aaron rookies are nice cards. I'm not blaming the cards.

[phikappapsi]

Bottom line, it helps the hobby. Any time high end dollars ar spent on newer and newer cards, the more the entire market pulls up with it. So, if he wants to pay 20x for some 60's cardboard...all the best to him.

[travrosty]

total insanity, chasing a number to move up in some registry and paying 20 times a premium for it.


reggie jackson tried to collect mint specimins of his rookie card and wanted to get a few hundred of them so he could sign them and sell them, but they burnt up in a fire. and here a jackson rookie goes for 115+ grand?

previosuly a gretzky rookie for 90+ grand. also previously an ozzie smith rookie for over 20 grand? its totally ridiculous. the o. smith in d. young's collection went for over 19 grand. what's going on? people are crazy?

[barrysloate]

What it proves is most high end collectors are buying the label. I'm sure a few of those cards started as 9's and were bumped to 10's. Once they were bumped their value increased exponentially.

[calvindog]

Originally Posted by barrysloate

What it proves is most high end collectors are buying the label. I'm sure a few of those cards started as 9's and were bumped to 10's. Once they were bumped their value increased exponentially.

Sharp cards. Razor-sharp cards.

[barrysloate]

"Razor" sharp?

[packs]

I don't see what the big deal is. People are buying cards. How is that any different than what we do? These buyers are interested in grades. Many on this board are interested in what cigarette company is printed on the back of an otherwise worthless card. What's the difference between a guy who overpays for a HOFer's rookie card graded a 10 and a guy who overpays for a nobody with a Drum back?

[barrysloate]

You don't think it's a little unusual to pay $432,000 for a Roberto Clemente rookie? I've been in the hobby for thirty years and I've never seen anything like it. People can do whatever they want, but that price is an eye opener for me.

[packs]

I guess but it's the nicest Clemente rookie. I think it's a lot crazier from an outsider's perspective to pay a few thousand dollars for a scrub's T206 because it has a Broadleaf back. At least you're getting Clemente's rookie. How do rationalize to an outsider why you paid a thousand dollars for a card because it's back was upside down? People are into what they're into.

[Delray Vintage]

I stopped buying cards in about 2000 because i decided that i would rather buy a george washington letter for the price of a goudy psa 8 ruth. I got nightmares thinking that mass produced cardboard can be worth as much as a letter written and signed by washington, lincoln, franklin. But after about 8 years I missed my cards and started buying again. The moral is that 2 inches of cardboard can be worth hundreds of thousands to someone and the allure is powerful.

i still have the letters and treasure them. Do i love my washington more than my 1887 connie mack psa 7? Honestly no, they are equal to me probably in their emotional value and are about the same monetary value. I will tell you that for cards like dimitri young's clemente I would rather have a 400k in letters because you could have all the the founding fathers plus lincoln, davey crockett, john paul jones and every other american legend.

[Bicem]

Originally Posted by packs

I guess but it's the nicest Clemente rookie.

according to who? the geniuses at PSA?

[ullmandds]

In my mind there is no comparison...spending a few K on a t206 drum common which there may exist 10 copies...vs 1/2 a mil on a card where hundreds of thousands of them exist...it just so happens this one is really...really new?!

Sorry...to each their own but I've never been able to relate to the condition "rarity" collector...whatever the hell that means!!!!

[wondo]

Originally Posted by ullmandds

In my mind there is no comparison...spending a few K on a t206 drum common which there may exist 10 copies...vs 1/2 a mil on a card where hundreds of thousands of them exist...it just so happens this one is really...really new?!

Sorry...to each their own but I've never been able to relate to the condition "rarity" collector...whatever the hell that means!!!!

Hey, they are really all just man-made pictures basically on cardboard. Can't eat 'em!

Anything more than .01 is ludicrous - right?

[Bilko G]

Originally Posted by paul

The final results are in. $432K for the Clemente rookie and $357K for the Aaron rookie. To each his own, I guess.

this is unbelivable!!!!!!!!!

[glchen]

Originally Posted by ullmandds

In my mind there is no comparison...spending a few K on a t206 drum common which there may exist 10 copies...vs 1/2 a mil on a card where hundreds of thousands of them exist...it just so happens this one is really...really new?!

Sorry...to each their own but I've never been able to relate to the condition "rarity" collector...whatever the hell that means!!!!

There are also fewer than 10 copies of some back variations of the E121-80 commons, but no one cares. Absolute rarity doesn't always determine price. It's the old supply and demand. It's a nice Clemente RC, although I do think the price is nuts. However, I also think the price of many T206 rare backs are nuts too. To each his own on what he wants to collect and pay for. As others have said, it's just cardboard, same as my frozen pizza box.

[drc]

As I occasionally say, "It's not my money."

[ullmandds]

mmmmmmn...pizza!

[hcv123]

I am BLOWN away by the final hammer on the Clemente Rookie. A 9 sells/sold? for ~20-30k. 432k!!! Crazy. I believe that may be the highest price ever paid for a post war card (perhaps until a PSA 10 52 Mantle hits the auction block again). I'm still trying to wrap my mind around it.

-Howard

[yanksfan09]

I scratch my heads at the prices between cards graded 7, 8, or 9 to a 10 as well. This is certainly crazy to me, but people can do what they want I guess.

Most of us here should thank these guys, and be happy they're into 1960's graded 10's instead of what we're into or they'd certainly be driving prices up, whoever the buyers are.

Maybe some of these collectors will find their way over to our niche and then we're in trouble!

[olrac44]

when someone wins a card(s) for a half a million, does that person take their private jet to pick up the card(s), or do you send your personal assistant on a commercial flight to pick them up? LOL

[Jay Wolt]

The 2nd night of SCP also had some shocking prices a Babe Ruth road jersey brought in almost 4.5 million ($4,415,658.00)
and a Ruth cap once owned by David Wells topped a half million ($537,278.00)

[barrysloate]

Who is buying this stuff??

[ullmandds]

i confess...it is me buying all of these multi-million dollar items...they're to decorate the bat cave.

[CharleyBrown]

The winner of the Clemente posts on the PSA boards. He also won another card that night.

[murcerfan]

I used to think all those hookers and blow back in the day were a waste of money too.

[wondo]

Originally Posted by murcerfan

I used to think all those hookers and blow back in the day were a waste of money too.

What's the Tug McGraw quote? "I spend 90% of my money on women, booze, and gambling. The rest I waste."

[Matthew H]

Originally Posted by barrysloate

Who is buying this stuff??

I just saw on the local news that Lelands bought the Ruth jersey and plan to resell it privately.

[Leon]

Originally Posted by Matthew H

I just saw on the local news that Lelands bought the Ruth jersey and plan to resell it privately.

At 4.4 million you have to wonder how many $$ are left to go up......Interesting.

[Matt]

Originally Posted by yanksfan09

Most of us here should thank these guys, and be happy they're into 1960's graded 10's instead of what we're into or they'd certainly be driving prices up, whoever the buyers are.

Maybe some of these collectors will find their way over to our niche and then we're in trouble!

Well said.

[steve B]

Originally Posted by Leon

At 4.4 million you have to wonder how many $$ are left to go up......Interesting.

If they only go up 5% that's 220,000 Not a bad weeks pay.

I get the impression from what I've read about some of my other hobbies that many buyers in that sort of price range will have dealers or others act as agents to bid for them. I'm not sure how that works exactly, but I'd assume some "small" profit for the bidding agent. (small percentage)

I suppose if you can afford 4.4 million for a jersey your time might be too valuable to spend cruising auctions looking for one to spend that sort of money on as well.

Steve B

[Matthew H]

I'm also assuming the bidding agent idea, as Steve said. If they paid 4.4mil to add one item to their inventory, then wow.

[insidethewrapper]

Can you imagine the stress for a grader between labeling a top rookie card a 9 vs a 10 ? In each case the value can be over 100k. A lot of room for fraud etc

[glchen]

Originally Posted by insidethewrapper

Can you imagine the stress for a grader between labeling a top rookie card a 9 vs a 10 ? In each case the value can be over 100k. A lot of room for fraud etc

I don't think there was too much stress. If they did have stress, they would just label any questionable "10" a "9." So the fact that you see plenty of weak 10's says to me that they're not spending too much time on the card. There probably definitely was stress in grading that Goodwin Plank, however, where SGC wrote a letter justifying their decision to give that card a number grade. For these PSA 10's however, the graders who gave the 10's probably never even imagined that these cards would go for such huge sums.

[olrac44]

Originally Posted by steve B

If they only go up 5% that's 220,000 Not a bad weeks pay.

I get the impression from what I've read about some of my other hobbies that many buyers in that sort of price range will have dealers or others act as agents to bid for them. I'm not sure how that works exactly, but I'd assume some "small" profit for the bidding agent. (small percentage)

I suppose if you can afford 4.4 million for a jersey your time might be too valuable to spend cruising auctions looking for one to spend that sort of money on as well.

Steve B

If you've got that kind of money your anonymity is just as valuable.

[peterose4hof]

You know who's happiest about the results of this auction...

Not Dmitri Young, not SCP Auctions, not the winning bidders. It is Mr. Joe Orlando.

[smotan_02]

Originally Posted by peterose4hof

You know who's happiest about the results of this auction...

Not Dmitri Young, not SCP Auctions, not the winning bidders. It is Mr. Joe Orlando.

Definitely not Dimitri...he spent nearly $5 mil on his collection and took in $2.5.

http://www.detroitnews.com/article/2...-slam-bat-next

[Sterling Sports Auctions]

That's an article for all these so called investors that seem to think that is the only way to go in the hobby, modern cards in any condition just are not a good investment plan and simple, way too many of them out there.

I have felt and continue to feel that if you buy smart in the Pre WWII cards they are a great investment. In the 10 + years I have actively been buying and selling my stocks (which I stopped putting money into about 5 years ago) have gained little to no value. Whereas the money I have into my Pre WWII cards has done extremely well. When you have cards that you put between $50 & $100 selling for a $1000 or more has proved to be great investments.

Not only are they nice investments, I thoroughly enjoyment, which can not be said for many investments.

Lee

[benjulmag]

Originally Posted by smotan_02

Definitely not Dimitri...he spent nearly $5 mil on his collection and took in $2.5.

Given the prices some of these cards realized, it's hard to fathom that on average Dimitri spent twice as much acquiring them.

[oldjudge]

Corey-Don't kill a good story with facts. BTW, Joe deserves to be happy, He has done a great job with the PSA set registry. SGC could learn a lot from him in this area.

[philliesphan]

he spent five million on his collection. At least not that which was sold.

I've heard (from numerous sources) about his acquisition of the Clemente rookie, for which he paid $250k.

I know the person that sold him the Jeter rookie, and Dmitri sold for a multiple of price paid.

I sold the Fergie Jenkins rookie to Dave Bailey.

I am quite sure that Dmitri did very well on a large number of cards he bought. He did lose some money on a number of the smaller cards (1971 OPC Greg Luzinski PSA 10, for example), but you should not believe he sold his collection of rookie cards at a 50% loss. That is simply not factual.

[Bosox Blair]

Originally Posted by smotan_02

Definitely not Dimitri...he spent nearly $5 mil on his collection and took in $2.5.

http://www.detroitnews.com/article/2...-slam-bat-next

This "news" is pathetic. If the real story is that a guy spends years and $5 million assembling a collection that sells for half that, you would think it would be stated clearly. Instead, this ambiguous "fact" is buried in a throw-away parenthetic comment.

Hmmmmm...didn't think it was important to clarify whether this guy just lost $2.5 million on his collection?

Modern "journalism" at its finest - hopeless.

Cheers,
Blair Curtis

[Leon]

Originally Posted by benjulmag

Given the prices some of these cards realized, it's hard to fathom that on average Dimitri spent twice as much acquiring them.

I don't think there is anyway in hell he lost 50% on the totality of his sales the other night. From the prices I saw, in total, that seems absurd.

I can believe he spent that after paying PSA to regrade cards to a 10. I am sure PSA was well paid to have this royalty treatment done

[insidethewrapper]

Now all I have to do is find one great Rookie card from the '50s (PSA10) and I will be set. The dream continues.

Hard to believe some of the money some people have. And they whine about increasing the tax a little in this top bracket ( use to be over 70%) now in the 30's.

[drc]

I agree that it's hard to believe he paid 2x more than what they went for at SCP. Perhaps he had the cards shipped by limo.