OT: Michael Jordan Mania

[Snapolit1]

https://twitter.com/darrenrovell/sta...22016177295365

[rjackson44]

One sold last night 180 k dropping like flies

[mrreality68]

Originally Posted by rjackson44

One sold last night 180 k dropping like flies

They drop like fly but $180k I would still take especially if it was bought couple years ago in the $20k to $30k range

[MattyC]

Who the fk is Darren Rovell and why should I care if he shouts out a listing? That card is the go-to for the tried-and-true fake sale scam. Pump a few through the usual platforms then hope to catch a gullible fish who thinks he’s getting a steal.

[Johnny630]

Originally Posted by MattyC

Who the fk is Darren Rovell and why should I care if he shouts out a listing? That card is the go-to for the tried-and-true fake sale scam. Pump a few through the usual platforms then hope to catch a gullible fish who thinks he’s getting a steal.

Exactly !! It has been my belief they were doing this with certain cards Jordan Rookie Henderson Rookie to drive up the price of the under cards 7's 8's 9's ect. That's where the real money was made.

[Snapolit1]

180k would be tough to swallow if I knew I could have sold earlier this year for over 700k.

And what is the guy who paid 700k thinking today.

[japhi]

Originally Posted by Snapolit1

180k would be tough to swallow if I knew I could have sold earlier this year for over 700k.

And what is the guy who paid 700k thinking today.

The guy that paid 700K is thinking "that was a good use of buyers premium, nice to have my card back, let's try and sell a few more from my stack at around 500K"

These 700K sales are sellers with multiple 10's buying their own cards back to set a new high. There is no organic demand for this card at 700k or 500k. After every BS sale, the next one pops for 1/3 of the ATH.

[ullmandds]

Originally Posted by japhi

The guy that paid 700K is thinking "that was a good use of buyers premium, nice to have my card back, let's try and sell a few more from my stack at around 500K"

These 700K sales are sellers with multiple 10's buying their own cards back to set a new high. There is no organic demand for this card at 700k or 500k. After every BS sale, the next one pops for 1/3 of the ATH.

+1

[Peter_Spaeth]

Originally Posted by japhi

The guy that paid 700K is thinking "that was a good use of buyers premium, nice to have my card back, let's try and sell a few more from my stack at around 500K"

These 700K sales are sellers with multiple 10's buying their own cards back to set a new high. There is no organic demand for this card at 700k or 500k. After every BS sale, the next one pops for 1/3 of the ATH.

That is my thinking as well. Classic market manipulation/attempt to create FOMO.

[MattyC]

Originally Posted by japhi

The guy that paid 700K is thinking "that was a good use of buyers premium, nice to have my card back, let's try and sell a few more from my stack at around 500K"

These 700K sales are sellers with multiple 10's buying their own cards back to set a new high. There is no organic demand for this card at 700k or 500k. After every BS sale, the next one pops for 1/3 of the ATH.

Exactly. That's how their game works.

Okay, Peter, just gonna let your posts function as mine now as we think the same thing lol.

[rjackson44]

Originally Posted by mrreality68

They drop like fly but $180k I would still take especially if it was bought couple years ago in the $20k to $30k range

Hi what happens when you pay 400k 700 k🤭🤭

[mrreality68]

Originally Posted by rjackson44

Hi what happens when you pay 400k 700 k🤭🤭

Very true like anything else depends when you bought it.

Or on flip side you bought at 20k and sold for between the $400k and $700k time made a killing

Just like the stock market with those Robinhood stocks and people buying AMC or GameStop

[ullmandds]

Originally Posted by mrreality68

Very true like anything else depends when you bought it.

Or on flip side you bought at 20k and sold for between the $400k and $700k time made a killing

Just like the stock market with those Robinhood stocks and people buying AMC or GameStop

exactly! this is very similar to the meme stocks. anyone who has been in the hobby more than a minute saw this coming and predicted it...cards like mj rookie are just way too common to sell for 3/4 millioin deneros.

[MattyC]

I'd bet the farm most of the high sales of this card were not true sales. Money may have been transacted, sure, but they were "sales" with an * intended to pave the way for suckers to be hooked on a subsequent real sale, be it of the 10 grade or below.

The scam is atop the grifter's playbook in this unregulated hobby/market, and that card is the poster child for it. It was easy for the scammers to gobble up many copies at various grades and then sell after the manufactured spike. And they got tons of free viral hype from the cesspool/echo chambers of Twitter and Instagram, trumpeting the "sales." I guess it is a lucrative racket if one has the free time and inclination.

I've found the best way to be immune to this shit is to just collect what you love and intend to keep for the long haul. Treat cards like luxury items bought for pure enjoyment and don't get caught up in the money/investment aspect.

[Jdoggs]

Originally Posted by rjackson44

One sold last night 180 k dropping like flies

Which auction sold for 180k?

[Jdoggs]

Originally Posted by rjackson44

One sold last night 180 k dropping like flies

A Jordan Psa 10 fleer rookie sold in iconic auctions for 212k less than 2 months ago.
Which auction or direct sale sold for 180k two days ago are you referring to?