Anyone watching the insane basketball card prices?

[Vintage Basketball Pat]

Originally Posted by Exhibitman

All the big rookies seem to be on fire. I’ve watched the Dr. J in PSA 8 jump from $800 to $4600 in a couple of years. It is getting to the point where I am tempted to take some money off the table.

Adam, I am glad you brought this up. I bid on an Erving PSA 8 less than a month ago - lost at $1600...now $8000+.

So I did some research of 60s and 70s HOFs. There are primarily two buyers over the past month driving this insane increase. One has bid 704 times in one month - the other 632 times. If you look at PSA 8s, 9s, 10s...these are the buyers.

Eventually this bubble has to stop. The problem is that it makes its own market. People will start to believe that these cards are actually worth this kind of money. They shouldn't be. There is a big difference in rarity between a PSA 8 and a PSA 9 for older cards (usually).

It may continue, but it shouldn't. There is no logical explanation. There are a handful of people affecting this market.

[Exhibitman]

That's really interesting, Pat. I bailed out at $5500.

One thing is for sure, this is lifting other issues including ones you would not normally think of.

Query for the gang: is the extreme wait period at PSA and Beckett affecting prices too? Used to be easy to find a nice raw card, send it in, and get a graded card in a relatively short time. Not now.

[jad22]

Even the 1981-82 Topps Bird and Magic cards are doing well.

[Vintage Basketball Pat]

I agree...many issues are up. I think this might be a good time to get rid of common cards.

[Exhibitman]

Originally Posted by Vintage Basketball Pat

I agree...many issues are up. I think this might be a good time to get rid of common cards.

Absolutely. I am listing what I have in TPG holders for sale.

[swarmee]

If you don't hate Gary Vee yet, watch the video of him on Vintage Breaks opening up three 1915 era tobacco packs looking for T206 cards which couldn't have even been in them based on the tax stamps.... just straight up threw thousands of dollars in the trash.

[Vintage Basketball Pat]

This is an example. This is the main bidder. You take a card worth $350-$550 and people try to chase the auction. He has bid on almost every Russell, Chamberlain, plus other HOFs. Others get sucked into the auction. It hurts the hobby imo.

[swarmee]

https://www.blowoutforums.com/showthread.php?t=1404828