Will this stock market madness affect cards?

[Johnny630]

No

[JustinD]

Temporarily- unquestionably yes

[mintacular]

I think GaryV's assumption about "sneaker heads" entering the market is just that, and ASSumption. Sure, I bet he talked to a few bro's who are new to the new market but that's probably mostly anecdotal........ To extrapolate that an army of non-card guys are now buying big $ cards is more speculation than anything..... As for the market, yes, bad economic times results in greater supply and therefore lower prices. And of course lower demand as many buyers are not in the mood to stockpile their PC

[Dpeck100]

Originally Posted by mintacular

I think GaryV's assumption about "sneaker heads" entering the market is just that, and ASSumption. Sure, I bet he talked to a few bro's who might not otherwise buy cards that are now doing so.... But to extrapolate that a ton of non-card guys are now buying cards is more speculation than anything..... As for the market, yes, bad economic times results in greater supply and therefore lower prices. And of course lower demand as many buyers are not in the mood to stockpile their PC

You should read his Twitter. This isn't speculation. They worship him.

[mintacular]

Well, watch out. High end basketball card guy spending half a mill on an altered MJ insert will end up holding the bag, charlatans like GaryV come and go, in a few years he will be a footnote in the hobby

[Dpeck100]

Originally Posted by mintacular

Well, watch out. High end basketball card guy spending half a mill on an altered MJ insert will end up holding the bag, charlatans like GaryV come and go, in a few years he will be a footnote in the hobby

The basketball card market has gone nuts. I am not just talking about these inserts that have gone for huge money. Gary proclaimed on his Twitter thread a year ago he was buying in bulk (100) PSA 10's of Giannis Antetokounmpo and they were $400. Now they are $1,600. Obviously the price is a moving target but it is up a ton. His followers are losing their minds and treating him like a card guru. He pointed out Lebron's that have gone from $1,000 to $6,000. Once again he is like a prophet to them.

I don't profess to know where this ends but it is all over the place. Look at Patrick Mahomes cards. I can't honestly say I would have had the foresight to buy his cards. They are up dramatically. This younger crowd is willing to role the dice and play the buy high and hope to sell higher later game.

When you have cards doing this it brings in buyers.

I am almost 41 and have been around the block with trading options. There is a new guy in my office that is 27 and he wants in. He reads on Reddit daily about the dudes gaming the system with Robinhood or someone else who risks it all on TSLA calls and it pans out. He wants in. You can play options with little money and either lose it all or kill it. Same thing with cards.

There was a thread on CU years ago where a guy was flipping his way to a 52 Mantle. He started with a small amount and did it. Stories like this keep people coming in to play the lottery.

The high end basketball card guy has an insane collection that includes a PSA 10 Aaron so I am not going to judge him. More power to him.

[mintacular]

Make sure your 27-year old friend watches this video before he buys in:

https://youtu.be/UM9WT-namdw