Card prices skyrocketing

[packs]

Originally Posted by Casey2296

Yes, but that's like me saying I paid 600K for my house that is worth 1.3 now. Would I pay 1.3 for it, probably not because I already paid 600K for it, would somebody pay 1.3 for it yes. Could it be worth less than 1.3? of course, that's the cyclical nature of markets. Will a green Cobb like that sell for $800 again, maybe, I'm not sure what market forces would have to take place in order for that to happen but its going to be awhile before a Green Cobb 1 sells for $800 again. So if somebody wants one in their collection they have to pay the going rate, if the rate is too high they won't. Is an Aaron rookie worth 6K more this week than 2 weeks ago? Not to me but to plenty of people it is.

All fun stuff to talk about.

All good points. In the end it's good with the bad. Good my cards are worth more but bad I have to pay more for others. At the same time it's a lot easier to finance suddenly expensive cards if you're selling your own suddenly expensive cards.

[Casey2296]

Originally Posted by packs

All good points. In the end it's good with the bad. Good my cards are worth more but bad I have to pay more for others. At the same time it's a lot easier to finance suddenly expensive cards if you're selling your own suddenly expensive cards.

That's a good point, As a collector it gives you flexibility to adjust/fine tune your collection when you have a lot of equity in a card you've held for a long time.

[Vegas Cards]

Originally Posted by packs

All good points. In the end it's good with the bad. Good my cards are worth more but bad I have to pay more for others. At the same time it's a lot easier to finance suddenly expensive cards if you're selling your own suddenly expensive cards.

Mistake I've made is selling a card without having it's replacement lined up. I figured I'd sell it, get paid, then go shopping. Well the sale went fine, but it's been months now and I can't find the right replacement. In the meantime, prices seem to go up up up.

[nooner10]

Originally Posted by Vegas Cards

Mistake I've made is selling a card without having it's replacement lined up. I figured I'd sell it, get paid, then go shopping. Well the sale went fine, but it's been months now and I can't find the right replacement. In the meantime, prices seem to go up up up.

Learned this lesson over the summer. Sold my 53 Topps Jackie PSA 3 intending to use the money for the PSA 4 I need for my set. The 4 moved too quickly to a point where I can't justify the cost for now.

[Nunzio11]

Originally Posted by packs

All good points. In the end it's good with the bad. Good my cards are worth more but bad I have to pay more for others. At the same time it's a lot easier to finance suddenly expensive cards if you're selling your own suddenly expensive cards.

I joined NET54 while getting back into collecting about 5 years ago. The conversation was the same then with plenty of speculation that prices were bound to pull back and there was a bubble forming. Like everyone I passed on a number of cobbs, Ruth’s and others at the time waiting for prices to level. I am still kicking myself. I still don’t own one and now I look at a $3000 cobb and ask am I ever going to get a shot at THESE levels again. Whether it’s cobb, ruth, Aaron, mantle etc it’s tough to put a value on personal collecting experience and wants. We’re all addicted to some degree and that’s hard to balance with a market moving this quickly.

[Oscar_Stanage]

my 2 cents is this all has to do with the Fed pinning interest rates to zero and keeping them there for the foreseeable future. This is driving a ton of money into all types of investments, each riskier than the next. cards, like art have become an investment to many.
$3k for a PR green cobb is no more crazy than $900 for Tesla stock or 3 times whatever SPAC XYX was worth the day before.
while many are struggling, many more are flush with cash and being purposely pushed out the risk spectrum by the Fed.

[Johnny630]

Originally Posted by Wid_Conroy

my 2 cents is this all has to do with the Fed pinning interest rates to zero and keeping them there for the foreseeable future. This is driving a ton of money into all types of investments, each riskier than the next. cards, like art have become an investment to many.
$3k for a PR green cobb is no more crazy than $900 for Tesla stock or 3 times whatever SPAC XYX was worth the day before.
while many are struggling, many more are flush with cash and being purposely pushed out the risk spectrum by the Fed.

Absolutely Correct !

[68Hawk]

Originally Posted by Nunzio11

I joined NET54 while getting back into collecting about 5 years ago. The conversation was the same then with plenty of speculation that prices were bound to pull back and there was a bubble forming. Like everyone I passed on a number of cobbs, Ruth’s and others at the time waiting for prices to level. I am still kicking myself. I still don’t own one and now I look at a $3000 cobb and ask am I ever going to get a shot at THESE levels again. Whether it’s cobb, ruth, Aaron, mantle etc it’s tough to put a value on personal collecting experience and wants. We’re all addicted to some degree and that’s hard to balance with a market moving this quickly.

Don't wait.

[Casey2296]

and being purposely pushed out the risk spectrum by the Fed

100% agree and I can't stress enough how this is planting the seeds of some pretty heavy losses for people that can't afford it in the next downturn.