Head scratching over t206 price boom

[donmuth]

My impression is that lot of working age collectors are not enamored with the stock market, 401ks, IRAs, etc. As a result, they have put their money into crypto (not a good week for that... yikes!!), sports cards, and other stuff as "investments". They aren't merely spending a little discretionary income on a hobby. It seems they are trying to make bank on cardboard (or whatever they are buying). Sports card investing is core to their retirement plan.

I was listening to a podcast this morning and one of the guys lost about $13k on one high end ultra modern card that he bought for around $24k and ended up selling recently for $11k. Ouch! His rationale was he needed the cash to make another large card purchase to try to make some money. OK. I understand needing to, and being OK with, taking losses here and there. It seems like there is a widespread casino and status symbol mindset though. So many think/act like they are high rollers and prices will continue going up, up, up and they'll be able to retire early or something.

Personally, I think people are going to get blind-sided by what is coming later this year and next year. There is a saying that you can't eat gold. Well, people can't eat slabbed cards either. Maybe I'll be able to trade some grass fed beef for cards I've always wanted...