1953 Topps PSA 10 Mickey Mantle IPO on Collectible App a Game Changer

[xplainer]

Sounds similar to purchasing stocks on CashApp.
I do this time to time and have made a little change.
Little the key word.

I guess this work on a high value card, like discussed.

[Dpeck100]

There may be other apps doing this. I just know this concept is going to make waves in the market.

A client first told me about this and has bought art this way and it has been extremely successful. The major difference is you can't cash out until the item sells.

The seller has to turn this card over to the holding company and it will be held just like gold is in an etf.

In terms of sale price I would think it has to recognized as the sale price.

[Snapolit1]

Hard pass on all these outfits.
Yeah, always the type of thing that comes up when its impossible for stuff to lose value. Ha ha.
No thanks. I'd rather own an entire PSA 5 and be able to hold it when I want to. And sell it or not sell it. This sort of arrangement has zero appeal to me. But, as they say, to each his own.

[Rhotchkiss]

How are the shares taxed on sale?

How is collectible/the sponsor compensated?

[Snapolit1]

Originally Posted by Rhotchkiss

How are the shares taxed on sale?

How is collectible/the sponsor compensated?

Having been part of a few race horse partnerships, the house always gets paid nicely. Yes, they do "all the work" but they also get most of the fun too.

[Dpeck100]

Originally Posted by Snapolit1

Having been part of a few race horse partnerships, the house always gets paid nicely. Yes, they do "all the work" but they also get most of the fun too.

Your point is well taken but it isn't a good analogy in this case. Horses need to fed and trained. A card sits in a vault.

Time will tell how this plays out but judging from the art side it has just put more fire under high quality pieces and I believe the same will happen here.

[samosa4u]

[Dpeck100]

It states you will get a 1099 if you make transactions and only references dividends. Not sure on taxes.

Obviously this isn't for everyone but you are going to see a lot of people get involved in this kind of situation.

Cards have proven to be an incredible alternative asset class and people want in and so this concept makes all the since in the world.

I would love to own a Jordan 10 but it would tie up too much of my liquid cash in one card and so I am someone who this is perfect for. To be able to put say 5k or 10k in one and share the upside or downside with others is tremendous.

My investments in trading cards have been the best ones I have ever made in my life on a percentage basis and I continue to believe in the market so if someone wants to put more money in and have liquidity and diversify into bigger and better cards this is a concept that allows for that and I believe will become quite popular.

[swarmee]

Originally Posted by Dpeck100

In terms of sale price I would think it has to recognized as the sale price.

After seeing that only 40% of the card is being sold, I disagree that the sale price should be recorded as $2.5 million. Had 100% of shares been sold, I would have thought it would count as a sale.