Card prices skyrocketing

[campyfan39]

I think (ironically enough) we are also a factor in causing the prices to rise. Let me explain.
Those of us who have been active for decades in the hobby are feeling like we are about to get priced out so we are pulling the trigger on big ones we have always wanted and even paying a little more than we wanted to. We do this because of the fear it will be out of our price range before long.
I know I am guilty of doing that in the last 15 or so months.
It is a fascinating conundrum.

[WA_HOF_rookie]

Originally Posted by campyfan39

I think (ironically enough) we are also a factor in causing the prices to rise. Let me explain.

Those of us who have been active for decades in the hobby are feeling like we are about to get priced out so we are pulling the trigger on big ones we have always wanted and even paying a little more than we wanted to. We do this because of the fear it will be out of our price range before long.

I know I am guilty of doing that in the last 15 or so months.

It is a fascinating conundrum.

It's 1000% this.

People like me (back in the market after 35 years away) want those same cards that you all spent decades gathering, and can't wait on a good deal because there aren't any to be had. I use VCP to try and buy in the right range, but I'm not sure VCP can keep up with this market, so I overpay. The cycle continues.

I originally set my sights on grades 4-7 last summer, and am now in the Au/1/2 zone. I can't buy raw because I'm not familiar enough with the 100 ways I could get scammed.

I'm not looking for an investment vehicle, I'm trying to build a collection before the ship sails completely.

Sent from my Pixel 4a using Tapatalk

[Fuddjcal]

Originally Posted by campyfan39

I think (ironically enough) we are also a factor in causing the prices to rise. Let me explain.
Those of us who have been active for decades in the hobby are feeling like we are about to get priced out so we are pulling the trigger on big ones we have always wanted and even paying a little more than we wanted to. We do this because of the fear it will be out of our price range before long.
I know I am guilty of doing that in the last 15 or so months.
It is a fascinating conundrum.

I know that EVERY big money card I've ever bought, I've paid RECORD Prices for, LOL Happy Collecting

[Touch'EmAll]

With some of the cards I follow, I have noticed a leveling off of prices happening. We could be starting to hit a plateau ... or not - perhaps depends on the card. Are you noticing the same, or still seeing prices rise substantially as we move into February?

[Exhibitman]

I don't give a shit about six-figure marquee slabbed modern superstar cards (has as much relevance to me as the market for Maybachs), but as far as us mere mortal collectors are concerned, whatever is going on is deep, broad and real. My last two sizable consignments of sub-$500 cards to AHs have not only sold 100% but have brought in more money than I expected to receive. What I thought was clearing out accumulated material is turning into a really profitable endeavor. Until that turns I don't think there is much to worry about.

[MattyC]

I think this quote below from an article in CNN on the stock fiasco is germane:

"To me, it's probable that people are pushing retail investors in one way or another when they have undisclosed positions that are being advantaged by those actions," said Dennis Kelleher, CEO of financial reform group Better Markets. "That's going to be classic market manipulation, and I don't have any doubt that's going on."

This dynamic is very much in play in the unregulated sportscard market.

Of course there is true underlying demand with cards, and there are plenty of rarer/scarce cards that are not rising artificially— just like some healthy companies' stocks deservedly rise.

Yet the internet and social media have made it all too easy for self-styled card investment gurus to virally direct sheep/lemmings to items hyped as "undervalued," while not disclosing they own many examples of said item-- nor do the gurus disclose that they are selling their examples as the prices rise, due to their actions influencing their followers.

This can be seen coming from miles away. And it is best done with certain types of cards— ones that have demand, but are easy to buy up in bulk and not too expensive to grab at the start.

And once the prices rise, "Fear Of Missing Out" kicks in amongst collectors across the board who want to grab items they have had their eyes on before those items, too, rise-- which of course makes the items rise.

https://www.cnn.com/2021/01/29/inves...ion/index.html

[packs]

Maybe this is just my own opinion but we've all been watching this happen slowly over a very long period of time. There is no doubt that the prices are where they're at because of all the shill bidding that enabled this situation to become a reality. It is almost impossible to gauge the actual market value of anything because so much of the price point is set by eBay sales that are either inflated by self-bidding or artificial in that the card didn't actually sell.

I don't feel it's an overnight phenomenon or really even related to the pandemic. This board has had thread after thread about what some sellers are doing and I feel as though this is the culmination of a shill-ridden hobby rather than the result of pandemic panic buying.

It can be stopped of course. But it would mean sacrificing "stuff". A seller has something you want, you know you're bidding against yourself if you bid on their material, and it's going to take the hobby's collective will power to instead let the stuff go. Dealers who are bad for the hobby will only exit the hobby when there's no more business for them.

[ullmandds]

Originally Posted by packs

Maybe this is just my own opinion but we've all been watching this happen slowly over a very long period of time. There is no doubt that the prices are where they're at because of all the shill bidding that enabled this situation to become a reality. It is almost impossible to gauge the actual market value of anything because so much of the price point is set by eBay sales that are either inflated by self-bidding or artificial in that the card didn't actually sell.

I don't feel it's an overnight phenomenon or really even related to the pandemic. This board has had thread after thread about what some sellers are doing and I feel as though this is the culmination of a shill-ridden hobby rather than the result of pandemic panic buying.

It can be stopped of course. But it would mean sacrificing "stuff". A seller has something you want, you know you're bidding against yourself if you bid on their material, and it's going to take the hobby's collective will power to instead let the stuff go. Dealers who are bad for the hobby will only exit the hobby when there's no more business for them.

This is spot on!

[packs]

Guys, I implore you, forego the stuff.

[mechanicalman]

Originally Posted by packs

Maybe this is just my own opinion but we've all been watching this happen slowly over a very long period of time. There is no doubt that the prices are where they're at because of all the shill bidding that enabled this situation to become a reality. It is almost impossible to gauge the actual market value of anything because so much of the price point is set by eBay sales that are either inflated by self-bidding or artificial in that the card didn't actually sell.

I don't feel it's an overnight phenomenon or really even related to the pandemic. This board has had thread after thread about what some sellers are doing and I feel as though this is the culmination of a shill-ridden hobby rather than the result of pandemic panic buying.

It can be stopped of course. But it would mean sacrificing "stuff". A seller has something you want, you know you're bidding against yourself if you bid on their material, and it's going to take the hobby's collective will power to instead let the stuff go. Dealers who are bad for the hobby will only exit the hobby when there's no more business for them.

You think the answer to rising prices is shill bidding? Did the dude who paid $5.2 for the Mantle 9 get shilled? The dude who just bought a Bird/Magic 10 for $720k on Collectable was shill bid? That’s the simple explanation for rising prices?

Is there shill bidding in this hobby? Yes. Are there people paying crazy prices? Yes. Is that the explanation? I don’t believe so. There’s just a ton of new money in the hobby; that’s the simple explanation.

[Seven]

Originally Posted by MattyC

And once the prices rise, "Fear Of Missing Out" kicks in amongst collectors across the board who want to grab items they have had their eyes on before those items, too, rise-- which of course makes the items rise.

https://www.cnn.com/2021/01/29/inves...ion/index.html

This is the biggest thing, and has certainly motivated my past few purchases. On top of that it's made me realize what I can put off buying and what I can't. For example I got wind of an Aaron signing last year a little late, missed an opportunity to get my 54 Topps signed by him. Not going to even bother pricing one at the moment with his prices skyrocketing due to his unfortunate passing.

I still think about some of the deals I've passed up. Especially the summer of 2019, before the Covid boom as I was just getting back into the hobby. Live and learn I guess but it still stings.

[JimC]

Guilty

Originally Posted by campyfan39

I think (ironically enough) we are also a factor in causing the prices to rise. Let me explain.
Those of us who have been active for decades in the hobby are feeling like we are about to get priced out so we are pulling the trigger on big ones we have always wanted and even paying a little more than we wanted to. We do this because of the fear it will be out of our price range before long.
I know I am guilty of doing that in the last 15 or so months.
It is a fascinating conundrum.