1925 Gehrig Exhibit Card.

[pokerplyr80]

Well at 700k I think a lot of people who bought psa 10 Jordans for 20-25k will be selling. We should find out soon if there is really enough demand to sustain these prices. Same with 9s at 60k that were readily available for 5 not too long ago.

Any time prices increase this much this fast it feels like a bubble waiting to burst. But it would only take a small number of hedge fund types, billionaires, etc jumping in to shift the market. Especially if they decide to start buying prewar cards.

[Peter_Spaeth]

Originally Posted by pokerplyr80

Well at 700k I think a lot of people who bought psa 10 Jordans for 20-25k will be selling. We should find out soon if there is really enough demand to sustain these prices. Same with 9s at 60k that were readily available for 5 not too long ago.

Any time prices increase this much this fast it feels like a bubble waiting to burst. But it would only take a small number of hedge fund types, billionaires, etc jumping in to shift the market. Especially if they decide to start buying prewar cards.

It feels like manipulation to me -- create FOMO out there, then dump some of your holdings at major profit -- but who knows.

[MattyC]

Originally Posted by Peter_Spaeth

It feels like manipulation to me -- create FOMO out there, then dump some of your holdings at major profit -- but who knows.

Agreed. I don't buy for a second that there's been some sudden, literally overnight influx of uber-wealthy buyers who only now discovered a passion for sportscards of all sorts (Jordan, Mantle, Ruth, Gehrig, etc., etc.). A passion so intense that it leads them to spend sums of the riches they were so savvy enough in life to obtain— sums that break wholly with all past data and pricing history.

[swarmee]

Originally Posted by MattyC

Agreed. I don't buy for a second that there's been some sudden, literally overnight influx of uber-wealthy buyers who only now discovered a passion for sportscards of all sorts (Jordan, Mantle, Ruth, Gehrig, etc., etc.). A passion so intense that it leads them to spend sums of the riches they were so savvy enough in life to obtain— sums that break wholly with all past data and pricing history.

As with what's going on with GameStop, the current values are becoming "untethered from the underlying fundamentals," IMO. All the cook groups manipulating prices over the summer seem to just be the start of this. The government keeps printing free money, and people keep sticking into riskier and riskier investments since the regular investments aren't paying out.
And since groups of people are controlling the small investment schemes and driving them "to the moon" by HODLing, then cash out and have more and more funds to spread to other investments to repeat the cycle.

[Republicaninmass]

Many of these cards I feel will be listed again and again for higher and higher prices, and eventually through auctions houses with hidden reserves until the "madoff shareholders" are left with a loss.

[Exhibitman]

Originally Posted by swarmee

As with what's going on with GameStop, the current values are becoming "untethered from the underlying fundamentals," IMO. All the cook groups manipulating prices over the summer seem to just be the start of this. The government keeps printing free money, and people keep sticking into riskier and riskier investments since the regular investments aren't paying out.
And since groups of people are controlling the small investment schemes and driving them "to the moon" by HODLing, then cash out and have more and more funds to spread to other investments to repeat the cycle.

I am not familiar with that term, what does it mean?

I'm not sure there are fundamentals with baseball cards...

If this continues for a few more auction cycles I am going to sell my collection and pay off my house. If not, f***it, I will just enjoy my cards and pay the mortgage.

[swarmee]

In the early days of bitcoin, some of the bros who got in early were of the same opinion as the reddit GameStop guys are now. They would tell each other to HOLD and never sell, in order to keep supply low and the value of the coin continuing to rise. Sometimes they would spell it wrong accidentally as HODL, but it stuck as a rallying cry.

Basically, if you and your friends can convince everyone else something has value, it does. Then when you go to cash out, you make cash hand over fist compared to your initial investment. If everyone else takes profits on the way up, the price doesn't climb nearly as high or get covered by the papers/media. If everyone holds and continues to drive demand, everyone gets rich together.

[Stampsfan]

I believe headlines cause folks to believe they too are holding million dollar cards. Here in Canada, where everyone collected hockey cards as a kid, the Gretzky cards are coming out of the basements. Friends, and friends of friends have contacted me about how to sell theirs.
I believe the market will get flooded with 80’s cards and people expecting to cash in. Coming to a card show near you will be an unlimited supply of VG-EX cards from the 80’s sitting on everyone’s tables, never to be moved.

[investinrookies]

Originally Posted by pokerplyr80

Well at 700k I think a lot of people who bought psa 10 Jordans for 20-25k will be selling. We should find out soon if there is really enough demand to sustain these prices. Same with 9s at 60k that were readily available for 5 not too long ago.

Any time prices increase this much this fast it feels like a bubble waiting to burst. But it would only take a small number of hedge fund types, billionaires, etc jumping in to shift the market. Especially if they decide to start buying prewar cards.

I can think of several prewar cards right now that seem like screaming values compared to some modern day stuff. Ruths, Cobbs, gehrig and some of the key T206 cards.

[swarmee]

And how many of those 1986 Fleer Jordans are trimmed, recolored, overgraded, or just plain counterfeit?
One of the main "blow-outed" trimmers, Robert Block, was known to have owned like 3% of all graded PSA/BGS Jordans. But taking those cert numbers out of circulation would just make the other ones sell for even more, I guess. It's a weird, weird, weird, weird world.

But right now, it's a dick measuring contest from people who got rich with bitcoin and gamestop, I guess.