Questions about the hobby

[mechanicalman]

Originally Posted by Rhotchkiss

That is a great article, thanks for sharing. So in China, there is an art bubble and hoodie-wearing millennials are going to take a bath on Simpsons art work, I get it. My question is this - given that, is it unwise to buy a Picasso or Norman Rockwell, even if the prices on those pieces are high (because o not because of the Chinese Art surge)? Bringing it back to earth, assuming we are in a card bubble, would you still be bullish on Ruth, Cobb, Wagner, 33 Lajoie, 35 Nagurski (I.e., blue chip players and iconic cards), or do you sit out on the whole asset class?

Ryan, my presumption is that your question is a rhetorical one; i.e. that you still believe it makes sense to invest/buy the blue chips you reference despite the possibility of a bubble. (If I’m wrong in that conclusion, please correct me.)

But if I’m accurate in my interpretation, then how do I reconcile that point with the earlier comments on this thread when you called the purchase of a centered Walter Johnson portrait “not right” and “dumb money.”

Is it only “smart money” to buy the blue chips in which you have a vested interest?

[Rhotchkiss]

Originally Posted by mechanicalman

Ryan, my presumption is that your question is a rhetorical one; i.e. that you still believe it makes sense to invest/buy the blue chips you reference despite the possibility of a bubble. (If I’m wrong in that conclusion, please correct me.)

But if I’m accurate in my interpretation, then how do I reconcile that point with the earlier comments on this thread when you called the purchase of a centered Walter Johnson portrait “not right” and “dumb money.”

Is it only “smart money” to buy the blue chips in which you have a vested interest?

I do believe it still makes sense to buy the blue chips. And I continue to do so.

My comment earlier in the thread that the Wajo portrait was not right, (quite clearly I think) referred to the price someone paid for the PSA flip vs the SGC flip; I think the SGC card was superior, if not equal to, the PSA flip, yet the one in the PSA flip went for more than double. That I do think is fishy and not right. I have no issue with someone paying strong for a nice example of a great card. I do think something is not right when a PSA 4 sells for double an equally nice SGC 4.

As for stupid money, that reference had nothing to do with blue chip cards. I believe there are new and fairly unknowledgeable investors in the “hobby” and they are chasing things and driving prices to alarming heights - blue chip or not. I can understand that happening with blue chips, but I think it is happening with many cards, especially if the cards are in PSA flips and sold in pwcc auction. And I am not saying there is anything wrong with PSA or Pwcc. I just think those are the big names and new people looking to invest (stupid money) are chasing

To be clear - I believe it is almost always a good time to buy the best/better of any asset worth owning. I think things are very expensive right now, and they may go up or down for here, but in the long(er) run, it’s tough to lose, and often easy to win, with blue chip.

I think something is fishy when a PSA 4 wajo Portrait sells for more than double what (I believe to be) a better looking sgc 4 wajo Portrait sells for

I think there must be increasing amounts of new “collectors”, likely well-heeled, investing in cards. I presume (but of course don’t know) that many are fairly unknowledgeable but motivated to buy, and are chasing cards (blue chip and not) and taking them to alarming heights. I am referring to this new collector as stupid money.

[Peter_Spaeth]

Hmmmm. Last time we were trashing a buyer it turned out to be Sam.

[mechanicalman]

Originally Posted by Peter_Spaeth

Hmmmm. Last time we were trashing a buyer it turned out to be Sam.

Ha. Whatever makes you guys feel better!

[Peter_Spaeth]

Originally Posted by mechanicalman

Ha. Whatever makes you guys feel better!

The important thing again is that you're happy with the purchase.