Why has market gone crazy? And outlook?

[JustinD]

Originally Posted by joshleon

I heard of people using food stamps to buy E93s and 55 Bowmans at a show in NJ.

Sad that a dealer was openly flaunting food stamp exchange laws for such a stupid sale. Also, I thought most states have switched to a debit card format to help prevent these issues.

[glchen]

My opinion:

(1) Record prices of sports cards and memorabilia published on highly trafficked sites such as ESPN
(2) Pandemic, stimulus, gov't policies, fed easy money putting a lot of cash in people's pockets that they wouldn't spend on travelling, restaurants
(3) Once card prices start rising significantly, FOMO
(4) Inflation / fear of stagflation leading folks to think cards may be a safer investment better than stocks or other traditional asset classes

BTW, this doesn't mean that I believe card prices will continue to go up, far from it. There are no fundamentals behind it, and it's just manufactured cardboard. You'll never get dividends from it or be able to fashion it into jewelry.

[parkplace33]

Originally Posted by glchen

My opinion:

(1) Record prices of sports cards and memorabilia published on highly trafficked sites such as ESPN
(2) Pandemic, stimulus, gov't policies, fed easy money putting a lot of cash in people's pockets that they wouldn't spend on travelling, restaurants
(3) Once card prices start rising significantly, FOMO
(4) Inflation / fear of stagflation leading folks to think cards may be a safer investment better than stocks or other traditional asset classes

BTW, this doesn't mean that I believe card prices will continue to go up, far from it. There are no fundamentals behind it, and it's just manufactured cardboard. You'll never get dividends from it or be able to fashion it into jewelry.

Definitely agree about fomo. This card sold for x, now I can get y. Or on the flip side, now I have to pay z.

It still blows my mind when I hear people talk about cards as retirement vehicles.

[Johnny630]

For me the Best way to use as a retirement hedge/side/retirement is try to stick with cards under 5,000 for ease of liquidity in selling for cash. Many can pull that off at a big show, higher then that they won’t spend at shows unless the National. Do you want multiple big checks coming in from auction houses ? I don’t. I wanna sell for cash at shows when retirement comes.

[Exhibitman]

Originally Posted by Johnny630

For me the Best way to use as a retirement hedge/side/retirement is try to stick with cards under 5,000 for ease of liquidity in selling for cash. Many can pull that off at a big show, higher then that they won’t spend at shows unless the National. Do you want multiple big checks coming in from auction houses ? I don’t. I wanna sell for cash at shows when retirement comes.

Please clarify your preference for cash sales over big checks from auction houses. What is the difference between $5K in cash or $5k in checks?

[rjackson44]

the new beckett vintage prices for star cards are insane .i mean crazy

[Angyale]

And its my recent experience that there are some really crazy people in the hobby these days.

Angyale

[Johnny630]

Originally Posted by Exhibitman

Please clarify your preference for cash sales over big checks from auction houses. What is the difference between $5K in cash or $5k in checks?

I prefer cash for the purchasing power it gives me via private sales in person from collectors or at shows from dealers. Over the years it’s been one of the only few ways I’ve been able to purchase big collections or single cards from private collectors. They want cash.

[ullmandds]

Originally Posted by Johnny630

I prefer cash for the purchasing power it gives me via private sales in person from collectors or at shows from dealers. Over the years it’s been one of the only few ways I’ve been able to purchase big collections or single cards from private collectors. They want cash.

translation...no one likes/wants to pay taxes!