Auction amounts - how high is high

[Rhotchkiss]

I think many collectors become investors and investors become collectors. Cards are unique. You can hold them, you can share them, there are so many ways to go about “collecting” them - you can make sets, player runs, back runs, etc. Cards are history, cultural, antiques, memories, people you idolize and root for. Cards have value and a history of increasing in value. For these reasons, and likely many more, many collectors necessarily look at their collections as assets (thus at least somewhat investments) and many investors come to love their “investments” and start acting somewhat like collectors in deciding what to buy and what/when you sell (or not sell). Plus cards are only semi-liquid - they are kind of a pain to sell yourself and tough to get immediate cash unless you are an active seller at shows or on eBay. I feel this semi-liquidity makes it even more likely that people will hold cards for longer durations.

Bottom line, as Johnny said, cards are powerful things and once bitten, it’s tough to shake the addiction for more and better

[Johnny630]

Originally Posted by Rhotchkiss

I think many collectors become investors and investors become collectors. Cards are unique. You can hold them, you can share them, there are so many ways to go about “collecting” them - you can make sets, player runs, back runs, etc. Cards are history, cultural, antiques, memories, people you idolize and root for. Cards have value and a history of increasing in value. For these reasons, and likely many more, many collectors necessarily look at their collections as assets (thus at least somewhat investments) and many investors come to love their “investments” and start acting somewhat like collectors in deciding what to buy and what/when you sell (or not sell). Plus cards are only semi-liquid - they are kind of a pain to sell yourself and tough to get immediate cash unless you are an active seller at shows or on eBay. I feel this semi-liquidity makes it even more likely that people will hold cards for longer durations.

Bottom line, as Johnny said, cards are powerful things and once bitten, it’s tough to shake the addiction for more and better

Well said !

[parkplace33]

With all the bidding and high prices, it’s a wonder why auctions houses haven’t offered lines of credit for buyers.

[Johnny630]

Originally Posted by parkplace33

With all the bidding and high prices, it’s a wonder why auction houses haven’t offered lines of credit for buyers.

I know some big buyers in these auction houses mostly dealers get 90 days or more to pay because of their history of bidding and spending with the auction house. Sometimes they’ll get the cards even in advance before they pay the auction house.

[volplaya8]

I think what helps the auction houses out a lot when it comes to pricing is the fact they get so many nice cards in one place at one time. When you get most of the collectors and investors eyes on something at the same time, you are probably going to get good results. If ebay gets a nice card or two then it’s auctioned but not as many guys may see that card go off or even wait around to bid on it. With rea and others you get all the eyes on every card and then guys may throw bids on something else since they already are bidding on others. Ebay just will never have the amount of quality cards going off at one same time. Even Lotg last night, you may see those some of those cards on ebay here and there but look at how many tobacco, caramel etc cards they had all guaranteed to be sold at the same time. Also do not discount catalogs and fact guys can prepare accordingly.

[BobC]

Originally Posted by parkplace33

With all the bidding and high prices, it’s a wonder why auctions houses haven’t offered lines of credit for buyers.

Wait a sec, isn't that already sort of being done by at least one of the "vault" providers that also functions as an AH? My understanding was they offered advances on items being held. And wouldn't be surprised if some other AHs weren't already offering something similar under certain circumstances as well.

[Johnny630]

I often wonder what percentage of big spenders in auction could be doing one or some of the following,

1. Taking loans against their 401k’s to fund card buys.

2. Using a Cash advance on their credit cards to fund buy.

3. Taking a business line or credit out to fund.

[mrreality68]

Originally Posted by Rhotchkiss

I think many collectors become investors and investors become collectors. Cards are unique. You can hold them, you can share them, there are so many ways to go about “collecting” them - you can make sets, player runs, back runs, etc. Cards are history, cultural, antiques, memories, people you idolize and root for. Cards have value and a history of increasing in value. For these reasons, and likely many more, many collectors necessarily look at their collections as assets (thus at least somewhat investments) and many investors come to love their “investments” and start acting somewhat like collectors in deciding what to buy and what/when you sell (or not sell). Plus cards are only semi-liquid - they are kind of a pain to sell yourself and tough to get immediate cash unless you are an active seller at shows or on eBay. I feel this semi-liquidity makes it even more likely that people will hold cards for longer durations.

Bottom line, as Johnny said, cards are powerful things and once bitten, it’s tough to shake the addiction for more and better

Agreed with all of Ryan's points especially the point about cards being an addiction.

[Shoeless Moe]

I know this isn't cards, but on a Facebook Ticket Collectors Group a person posted that he sold 2 Deion Sanders Debut Ticket stubs, that sold at Goldin last Saturday night for about 400 & 500.

He said last year he sold a couple that went for 1500-2000.

So not everything is going up.