OT: Michael Jordan Mania

[rjackson44]

Originally Posted by mrreality68

They drop like fly but $180k I would still take especially if it was bought couple years ago in the $20k to $30k range

Hi what happens when you pay 400k 700 k🤭🤭

[mrreality68]

Originally Posted by rjackson44

Hi what happens when you pay 400k 700 k🤭🤭

Very true like anything else depends when you bought it.

Or on flip side you bought at 20k and sold for between the $400k and $700k time made a killing

Just like the stock market with those Robinhood stocks and people buying AMC or GameStop

[ullmandds]

Originally Posted by mrreality68

Very true like anything else depends when you bought it.

Or on flip side you bought at 20k and sold for between the $400k and $700k time made a killing

Just like the stock market with those Robinhood stocks and people buying AMC or GameStop

exactly! this is very similar to the meme stocks. anyone who has been in the hobby more than a minute saw this coming and predicted it...cards like mj rookie are just way too common to sell for 3/4 millioin deneros.

[MattyC]

I'd bet the farm most of the high sales of this card were not true sales. Money may have been transacted, sure, but they were "sales" with an * intended to pave the way for suckers to be hooked on a subsequent real sale, be it of the 10 grade or below.

The scam is atop the grifter's playbook in this unregulated hobby/market, and that card is the poster child for it. It was easy for the scammers to gobble up many copies at various grades and then sell after the manufactured spike. And they got tons of free viral hype from the cesspool/echo chambers of Twitter and Instagram, trumpeting the "sales." I guess it is a lucrative racket if one has the free time and inclination.

I've found the best way to be immune to this shit is to just collect what you love and intend to keep for the long haul. Treat cards like luxury items bought for pure enjoyment and don't get caught up in the money/investment aspect.

[packs]

I don't believe that anyone paid 700K for a Jordan rookie at any time. I know that's reported, but where's the guy who bought it? Wouldn't they show something like that off? Even Jake Paul wore his PSA 10 Charizard around his neck on his way to the ring for his fight.

[ullmandds]

Originally Posted by packs

I don't believe that anyone paid 700K for a Jordan rookie at any time. I know that's reported, but where's the guy who bought it? Wouldn't they show something like that off? Even Jake Paul wore his PSA 10 Charizard around his neck on his way to the ring for his fight.

i agree and jake paul probably was paid for that stunt...or somehow involved with the group hoping to capitalize on the sale.

[sportscardpete]

Originally Posted by packs

I don't believe that anyone paid 700K for a Jordan rookie at any time. I know that's reported, but where's the guy who bought it? Wouldn't they show something like that off? Even Jake Paul wore his PSA 10 Charizard around his neck on his way to the ring for his fight.

The guy who bought the $840k Jordan with the PWCC sticker disclosed it.

Not saying anything about the price, just that it was disclosed.

[rjackson44]

Originally Posted by sportscardpete

The guy who bought the $840k Jordan with the PWCC sticker disclosed it.

Not saying anything about the price, just that it was disclosed.

hi pete crazy what a sticker can do

[packs]

No idea if that price was really paid but this article from last month is really interesting: https://www.sportscollectorsdaily.co...record-840000/

This is the part I find interesting:

PWCC Marketplace reported the record sale for a PSA 10 1986-87 Fleer Michael Jordan rookie card at $840,000 late Saturday night. The sale, which took place in the company’s July topped the previous mark for a Jordan rookie card by more than $100,000.

The price is far above all recent sales of PSA 10 Jordan rookie cards. After reaching a high of over $700,000 at Goldin Auctions in late January, numerous examples arrived on the market in the next several months with recent prices settling between $212,000 and $270,000.

[Snapolit1]

I'm going to start a company that, as a fair price, will put a sticker on your house in connection with your real estate sale. Some houses will be within 5% of best houses in the neighborhood, other houses will get a special sticker that says "High End" or "Good Eye Appeal". Granted I will have to make my stickers a little larger than card sellers.

[sportscardpete]

Originally Posted by rjackson44

hi pete crazy what a sticker can do

I am trying to get a sticker on my t206 cobb PSA 2 - fingers crossed (kidding haha).

The easy thing to do is to knock the price of the $700k. But as mentioned earlier, these were selling for 20k just a few years ago. So even at 180k that's 9x in 2-3 years. That doesn't happen in vintage. So seeing a card run from 20k to 700k and back to 200k so mostly for the ~10-15% that bought at the top.

Also - if I have the funds to spend 700k on a Jordan I probably am not beating myself up over the drop to 200k. Yes I would be annoyed. Odds are there is plenty of other money sloshing around if that person can drop that on one specific card (assuming it was a person and not a fund).

And no, I can't relate to someone that spent 700k on a card. or 70k.

[mrreality68]

Many cards including very high end cards are won all the time and often are never shown to the public. Many collectors are private and just buy them and tuck them away in their collections (unfortunately) and we do not see those cards again ever or for a very long time.

[Peter_Spaeth]

Originally Posted by sportscardpete

The guy who bought the $840k Jordan with the PWCC sticker disclosed it.

Not saying anything about the price, just that it was disclosed.

Yah, he claimed he paid so much over market because it was such a perfect 10, and after all it had Brent's little sticker on it.

[vintagewhitesox]

Originally Posted by packs

I don't believe that anyone paid 700K for a Jordan rookie at any time. I know that's reported, but where's the guy who bought it? Wouldn't they show something like that off? Even Jake Paul wore his PSA 10 Charizard around his neck on his way to the ring for his fight.

I did not believe it either. However, the buyer posted it on his instagram account with verification of his winning bid and payment. take that as you will. maybe its legit, maybe not.

[packs]

No idea. But as the article points out, not only was this sale 100K over the previous high, but it occurred at a time when the same card was selling for 600K less than what was paid.