Waste.

[iwantitiwinit]

Originally Posted by Mdmtx

Because it is clearly sane to buy cards with minor deviations. Different factory number. Missing bits of ink. 'Cause those are old. This whole hobby makes a clear case for beauty being in the eye of the beholder.

There is one difference here LeBron could produce more of the same type of product if he chooses. This is beyond insane. Having stupid money is one thing but u tell me how much you'd have to have to spend 300k on this. 1 billion wouldn't be enough. This is nuts but that's just my opinion.

[Mdmtx]

Originally Posted by iwantitiwinit

There is one difference here LeBron could produce more of the same type of product if he chooses. This is beyond insane. Having stupid money is one thing but u tell me how much you'd have to have to spend 300k on this. 1 billion wouldn't be enough. This is nuts but that's just my opinion.

Just an FYI. If you placed 1 billion in the bank and could only get 4% compounded ANNUALLY you would earn $109,589.04 in interest daily. Let that sink in. Daily. Plus whatever the person did to create the billion to begin with. To assume a billionaire wouldn't/couldn't make this kind of purchase is short sighted. Looks to me like he/she could buy 2 a week and never touch their principal, including shipping.

[Scocs]

Originally Posted by Mdmtx

Just an FYI. If you placed 1 billion in the bank and could only get 4% compounded ANNUALLY you would earn $109,589.04 in interest daily. Let that sink in. Daily. Plus whatever the person did to create the billion to begin with. To assume a billionaire wouldn't/couldn't make this kind of purchase is short sighted. Looks to me like he/she could buy 2 a week and never touch their principal, including shipping.

You're missing the point. No one said the person couldn't buy it (or ten of them). It's that the person SHOULDN'T.

The billionaire could afford a gold toilet too -- that's just called hedonism and gaudy decadence...

[Mdmtx]

Originally Posted by Scocs

You're missing the point. No one said the person couldn't buy it (or ten of them). It's that the person SHOULDN'T.

The billionaire could afford a gold toilet too -- that's just called hedonism and gaudy decadence...

No. you are missing the point. You are making your conclusions from your base of knowledge. Put your self in a starving persons shoes. Offer them a psa 10 Mickey mantle or a coupon book for Golden Corral. Bet they choose the coupons. And in their opinion 5 dollars on a card is waste. It is all relative.

[Mdmtx]

Originally Posted by Scocs

You're missing the point. No one said the person couldn't buy it (or ten of them). It's that the person SHOULDN'T.

The billionaire could afford a gold toilet too -- that's just called hedonism and gaudy decadence...

We all need to check with Scott from now on to be sure our purchases are within his realm of norm. What a narcissistic opinion you have. Wow.

Mark Medlin

[Scocs]

Sorry, Mark, but your analogy doesn't apply here because this is a baseball card forum. We are all buyers and sellers of baseball cards. I would not try to justify anything hobby-related to the layman.

However, I didn't call the buyer of the card stupid -- I called the decision stupid.

I have a bat signed by HOFer Frank Thomas during his rookie season. I will gladly accept $300,000 from you. I take PayPal.

[Mdmtx]

Scott,

Just to be clear - I already posted I wouldn't buy the card for that. No desire. But I don't pretend to know what is the right or wrong thing for another to do with their money. I also couldn't come close to affording the card. But to say that this card is a bargain for 50,000 and that card was cheap for 100,000 and that one is overpriced for 200 and that one is crazy for 300k is all subjective. The true value, as I posted earlier is what the value of the raw material is - about 160 bucks a ton. Anything beyond that is merely subjective and for each individual buyer to determine if they are satisfied with their purchase. I only took exception to your comment because you stated that even a billionaire should struggle with paying 300k for this. Who knows, maybe is a birthday gift for a 10 year old kid from a wealthy relative. I know many times I have spent way too much money just to see my kids smile (think American Girl Store). But I can't begin to know or understand what any other person may deem as a bargain and I just feel it's a little presumptuous for us as a collective group of hobbyist to uphold one person spend 1000 bucks while berating another for spending 300k. They are both the same - just perspective is different. We can surely easily put ourselves in the shoes of the smaller purchaser, but lose scope when comparing the high end purchase.

[iwantitiwinit]

Originally Posted by Mdmtx

Just an FYI. If you placed 1 billion in the bank and could only get 4% compounded ANNUALLY you would earn $109,589.04 in interest daily. Let that sink in. Daily. Plus whatever the person did to create the billion to begin with. To assume a billionaire wouldn't/couldn't make this kind of purchase is short sighted. Looks to me like he/she could buy 2 a week and never touch their principal, including shipping.

Didn't say he wouldn't or couldn't. I said in my opinion it was insane. I am also aware of how compounding works and the amount that would be generated daily from a 1 billion dollar corpus at prevailing rates/yields.

[GregC]

I hear Lebron bought the card personally because he wanted to start a PC of his best cards. Maybe he is manipulating his card values to be more than MJ's?

[mark evans]

A thought-provoking thread...good reading.

I continue to believe that folks should not be criticized for how they spend their money and that the buyer of the James card has assumed a significant downside risk. It may well be that cards of manufactured scarcity from the 1930s also pose a downside risk but it seems to me to be a lesser risk and for a different reason -- aging (and so on) of we baby-boomers.

[Scocs]

First, there was the $700,000 Rose rookie card; now the $300,000 LeBron card.

Ok, Forum: what's next?

[ullmandds]

whats next? a 250K 1977 burger king lou pinella.