Someone stole this Clemente Rookie at auction

[Peter_Spaeth]

Originally Posted by Johnny630

The market was heavily manipulated the past two years we all know it.

Well, some of us denied it vehemently, and even repeatedly mocked those who claimed it was.

[Johnny630]

I wonder how many now believe it wasn't ?

[Leon]

Originally Posted by Peter_Spaeth

Well, some of us denied it vehemently, and even repeatedly mocked those who claimed it was.

When the guy manipulating it comes on the forum and says he is doing it, it's hard to dispute it. But some will....

[samosa4u]

Originally Posted by Leon

When the guy manipulating it comes on the forum and says he is doing it, it's hard to dispute it. But some will....

I'm actually thinking of starting a thread on this subject. So what exactly is market manipulation? A few super-rich guys bid on thousands and thousands of auctions last summer and then just stopped? What about the cards they won? Did they pay for them or not? How exactly did it work?

Also, will we ever see prices jump like they did last summer or was that a one time thing?

[WWG]

Originally Posted by samosa4u

I'm actually thinking of starting a thread on this subject. So what exactly is market manipulation? A few super-rich guys bid on thousands and thousands of auctions last summer and then just stopped? What about the cards they won? Did they pay for them or not? How exactly did it work?

Also, will we ever see prices jump like they did last summer or was that a one time thing?

Yes, they would overpay on mid grade items which in turn would pump up the price on high grade items. Then they would just sell the card they just bought at a profit as the market was now "hot". The real money came when the higher grade cards were selling for never before seen prices. Many Rookie cards have come back down to earth in price (Clemente, Koufax) but occasionally you'll see a different Rookie card get a lot of attention like the 1925 Exhibit Lou Gehrig which is the hot card of the summer going for crazy prices.

[rats60]

Originally Posted by samosa4u

I'm actually thinking of starting a thread on this subject. So what exactly is market manipulation? A few super-rich guys bid on thousands and thousands of auctions last summer and then just stopped? What about the cards they won? Did they pay for them or not? How exactly did it work?

Also, will we ever see prices jump like they did last summer or was that a one time thing?

There were cards that were not paid for. Auction Houses don't reveal which ones weren't. It would be nice for the hobby and collectors, but we are just left to guess.

[Peter_Spaeth]

Originally Posted by rats60

There were cards that were not paid for. Auction Houses don't reveal which ones weren't. It would be nice for the hobby and collectors, but we are just left to guess.

Yup. A certain auction house used to do this regularly. Many times I would see the same damn card that "sold" less than a month ago back on ebay at a much LOWER price, so that would tell me it was the consignor and not a would be flipper. One time I even saw a card that was in auction still in the guy's ebay store lol.

[rats60]

Originally Posted by Peter_Spaeth

Yup. A certain auction house used to do this regularly. Many times I would see the same damn card that "sold" less than a month ago back on ebay at a much LOWER price, so that would tell me it was the consignor and not a would be flipper. One time I even saw a card that was in auction still in the guy's ebay store lol.

It could also be someone bidding high to protect their investment and then not paying. I believe the last year run up was more of that than consignors shilling their own cards.

[h2oya311]

Originally Posted by rats60

It could also be someone bidding high to protect their investment and then not paying. I believe the last year run up was more of that than consignors shilling their own cards.

especially since this is actually allowed with consignments to Heritage (due to lax TX law). Huge red flag for me.