Ken Goldin Video on State of the Hobby

[samosa4u]

This is a nice video that Ken uploaded, however, he is making a mistake by using his past experiences in order to predict the future of the hobby. He states that he has been in the hobby since 1978 and how he has seen the market crash around ten times. He talks about the stock market crash, the subprime mortgage crisis, etc. However, we're dealing with a completely different animal here. For the first time ever, millions and millions of people around the globe were stuck at home and were not allowed to do anything. No travel, no restaurants, no strip clubs - nothing. Never before in my life have I seen $2,000 cards go up to $60,000 US in a few months. I don't care what any of these athletes will do in the future or whose records they will break or who will have a documentary made about him. If you're somebody who is buying cards at these absurd prices, then you are going to get nailed, period.

[Lorewalker]

Originally Posted by samosa4u

This is a nice video that Ken uploaded, however, he is making a mistake by using his past experiences in order to predict the future of the hobby. He states that he has been in the hobby since 1978 and how he has seen the market crash around ten times. He talks about the stock market crash, the subprime mortgage crisis, etc. However, we're dealing with a completely different animal here. For the first time ever, millions and millions of people around the globe were stuck at home and were not allowed to do anything. No travel, no restaurants, no strip clubs - nothing. Never before in my life have I seen $2,000 cards go up to $60,000 US in a few months. I don't care what any of these athletes will do in the future or whose records they will break or who will have a documentary made about him. If you're somebody who is buying cards at these absurd prices, then you are going to get nailed, period.

Spot on. This was 2016 on roids. So many collectors had a fear of missing out so they ponied up and are now down 50% and declining on lots of stuff.

[Peter_Spaeth]

Originally Posted by Lorewalker

Spot on. This was 2016 on roids. So many collectors had a fear of missing out so they ponied up and are now down 50% and declining on lots of stuff.

Do not underestimate the temporary power of FOMO. On the other hand, do not overestimate its staying power.

The more things change...

[Peter_Spaeth]

Here's the state of the hobby.

https://www.ebay.com/itm/22449097676...p2047675.l2557

Compare to two on Jan. 31 in Goldin at 738K each.

Only a drop of 557K or whatever.

Let's spin this one, shall we?

Or did we (some of we) just get fooled yet again by sales talk, manipulation, and fraud?

[Republicaninmass]

They couldn't even shill it higher!

[Peter_Spaeth]

Originally Posted by Republicaninmass

They couldn't even shill it higher!

They didn't need to. Probably dumped a bunch of them at 400-600.

And my guess is these will come down even more.

[mechanicalman]

How has this site not had a thread about this?

https://youtu.be/CPiALa0CIMc

[hcv123]

Originally Posted by Peter_Spaeth

They didn't need to. Probably dumped a bunch of them at 400-600.

And my guess is these will come down even more.

Putting aside for the moment a good likelihood that there was price manipulation of some sort with these -

Current PSA 10 population = 318
Current PSA 9 population = 2787
Total current PSA population = 21,791

The highest sale as of January 2020 (1.5 years ago) was under 40K

There have been 61 PSA 10 sales (according to PSA auction database) since January 2020 (I did not look for repeat sales on the same certs)

There would in theory need to be 319 people willing to pay "market" price to maintain a particular value - I suspect we will see this card come down considerably more.

[CobbSpikedMe]

Originally Posted by Peter_Spaeth

Here's the state of the hobby.

https://www.ebay.com/itm/22449097676...p2047675.l2557

Compare to two on Jan. 31 in Goldin at 738K each.

Only a drop of 557K or whatever.

Let's spin this one, shall we?

Or did we (some of we) just get fooled yet again by sales talk, manipulation, and fraud?

God D@mn! I'd hate to be one of the two that paid 738K in Jan. right now.



.

[Peter_Spaeth]

Originally Posted by CobbSpikedMe

God D@mn! I'd hate to be one of the two that paid 738K in Jan. right now.



.

I would like to be one, I am guessing they bought them in order to create a false price to sell their inventory of others for much higher than they otherwise could have. Just a guess of course. Assuming they actually bought them, that is, which I'm willing to do.

[CobbSpikedMe]

Originally Posted by Peter_Spaeth

I would like to be one, I am guessing they bought them in order to create a false price to sell their inventory of others for much higher than they otherwise could have. Just a guess of course. Assuming they actually bought them, that is, which I'm willing to do.

Are you suggesting there were two people who did this at the same time in the same auction? Or are you saying you'd like to be one of them because that is something that you would've done and you wish you had been one of the smart guys who did it?

[maniac_73]

Originally Posted by Peter_Spaeth

Here's the state of the hobby.

https://www.ebay.com/itm/22449097676...p2047675.l2557

Compare to two on Jan. 31 in Goldin at 738K each.

Only a drop of 557K or whatever.

Let's spin this one, shall we?

Or did we (some of we) just get fooled yet again by sales talk, manipulation, and fraud?

Gotta love PWCC and its 3300 shipping to Canada for that Item. I thought the usual 45 shipping for a 10 dolalr card from them was bad....

[ruth-gehrig]

Originally Posted by maniac_73

Gotta love PWCC and its 3300 shipping to Canada for that Item. I thought the usual 45 shipping for a 10 dolalr card from them was bad....

Or you could let them lock it up for you in their vault for no shipping lol

[irv]

Originally Posted by Peter_Spaeth

Here's the state of the hobby.

https://www.ebay.com/itm/22449097676...p2047675.l2557

Compare to two on Jan. 31 in Goldin at 738K each.

Only a drop of 557K or whatever.

Let's spin this one, shall we?

Or did we (some of we) just get fooled yet again by sales talk, manipulation, and fraud?

Anyone else notice the card/listing has now been removed? (at least for me)
Truthfully, I don't ever recall a listing being removed so soon but maybe it's nothing?

[Peter_Spaeth]

Originally Posted by irv

Anyone else notice the card/listing has now been removed? (at least for me)
Truthfully, I don't ever recall a listing being removed so soon but maybe it's nothing?

Yeah I thought they stayed up for 90 days or something. Maybe Brentsy has wondrous magical powers.

[Lorewalker]

Originally Posted by Peter_Spaeth

Yeah I thought they stayed up for 90 days or something. Maybe Brentsy has wondrous magical powers.

It has been vanished from ebay and PWCC's site however PSA logged it in:

https://www.psacard.com/auctionprice...98018093662774. Also showing in VCP and the buyer's id is j***a.

[FrankWakefield]

Golly...

He is talking about his industry... not about my hobby.

He's talking about making money on cards... I like collecting cards from players of days gone by, making money on them isn't important.

He wants new money buying cards, and then more new money buying cards and memorabilia, so everything is always costing more and more.

And he seems to think that if he says something twice, that it's more believable. OR true. It is more believable. It is true. He is telling his truth, he told it twice. Twice!

It's nuts. Pardon me while I have a sip of bottled water.