Money in the hobby

[JustinD]

Originally Posted by rainier2004

While sitting there Sunday night watching REA, it was just crazy watching the amount of money that was being spent left and right. I know that is relative, but prices on sooo many cards have just soared. How many $100,000 cards now exist? How many collections exceed $250,000 now? Billions of dollars in the "industry" as its coined on another thread.

So my question/point is this...

If money = fraudsters, and I would say this is true in all walks of life, isn't it just a matter of time before this whole thing collapses when the cockroaches are exposed? I have heard so many guys from the 70s and 80s talk about how all these high grade pre war cards just weren't around back then...back when the hobby was at its peak mind you. But now? How many crisp t206s Cobbs and CJ Jacksons really survived all this time?

We also seem to have a different vibe to the "hobby" now than years ago. I hear the term investment so much now and it seemed like that word use to be taboo. So much new money in the vintage card game...

It seems to me like its a perfect storm with all this. So much money seems like the potential for fraud would escalate tremendously. It also seems like there are more problems now than I ever remember and eventually these problems will lead people away from cards. I guess its just the amount now that makes me so nervous...my gut is starting to bother me about how expensive everything is getting. What would happen if PSA was found to be corrupt tomorrow and theyre name became worthless?

I know, collect what you like and don't spend more than you have, blah, blah blah. Its not about that, I don't need my cards to be able to retire or anything. But the whole thing makes me somewhat uncomfortable and I started collecting in 1985.

The only answer I have to this is yes.

The term "investment" to me is still taboo and a house of cards...but that's my opinion. I would like big dollar cards, but even if I felt that was budgetary I would stay away in this market. It reminds me too much of when I steadfastly refused to buy a home in 2004. Eventually there is no room for growth as the demand is outpaced by cost and the buyers are shut out.

I think a select group are grabbing the big cards now anticipating further growth but this is in my belief a very finite crowd. If those (on the high estimate for me) 20 or 30 big buyers stop trying to swap or horde among themselves what happens to the growth?