Friends giving up collecting in 2023 - Post continuation

[Johnny630]

What the past two years have shown me is that this is a highly impulsive buyers Hobby.

[Republicaninmass]

Originally Posted by Johnny630

What the past two years have shown me that this is a highly impulsive buyers Hobby.

A really Nice 1954 aaron psa 8 sold in a major auction for 27k last week. Recent sales are between 40 and 75k. Less than a decade ago, it was a 7k card. Aside from his passing, what constitutes the price increase? Plenty of MOMO and FOMO investors that are going to be hurt if they need to sell. Even at 27k people are thinking twice as the only upside is if someone someday pays 50k for it!

[Johnny630]

Originally Posted by Republicaninmass

A really Nice 1954 aaron psa 8 sold in a major auction for 27k last week. Recent sales are between 40 and 75k. Less than a decade ago, it was a 7k card. Aside from his passing, what constitutes the price increase? Plenty of MOMO and FOMO investors that are going to be hurt if they need to sell. Even at 27k people are thinking twice as the only upside is if someone someday pays 50k for it!

Nothing does, you answered you're own question. It was 60% Fluff and 40% impulse FOMO Hype buyers who got caught up. Over this past recent year, 2022, someone in REA also paid $300,000K for a SGC 5 52 Mickey Mantle and in Memory Lane one in a PSA 2.5 sold for just under $90K. Does it make sense? No, but hey it happened, people got caught up in it.

[Republicaninmass]

Originally Posted by Johnny630

Nothing does, you answered you're own question. It was 60% Fluff and 40% impulse FOMO Hype buyers who got caught up. Over this past recent year, 2022, someone in REA also paid $300,000K for a SGC 5 52 Mickey Mantle and in Memory Lane one in a PSA 2.5 sold for just under $90K. Does it make sense? No, but hey it happened, people got caught up in it.

Well that's because only 10 centered copies exist!

[Johnny630]

Originally Posted by Republicaninmass

Well that's because only 10 centered copies exist!

Wait are you also one of the PUMPERS LOL

[Exhibitman]

Originally Posted by Republicaninmass

A really Nice 1954 aaron psa 8 sold in a major auction for 27k last week. Recent sales are between 40 and 75k. Less than a decade ago, it was a 7k card. Aside from his passing, what constitutes the price increase? Plenty of MOMO and FOMO investors that are going to be hurt if they need to sell. Even at 27k people are thinking twice as the only upside is if someone someday pays 50k for it!

The Aaron RC is an interesting story. It stagnated for well over a decade (from the time I bought one in 1998 until just after I sold it 15 years later), then took off in the mid-teens pump and dump market manipulation and again in the pandemic. I would argue that it was undervalued substantially for years (when I owned one), then it caught up overnight, got overvalued in the pandemic run, and is on the way down towards equilibrium now. I still throw up in my mouth just a little when I see what they go for.

[Snowman]

Originally Posted by Republicaninmass

A really Nice 1954 aaron psa 8 sold in a major auction for 27k last week. Recent sales are between 40 and 75k. Less than a decade ago, it was a 7k card. Aside from his passing, what constitutes the price increase? Plenty of MOMO and FOMO investors that are going to be hurt if they need to sell. Even at 27k people are thinking twice as the only upside is if someone someday pays 50k for it!

It was $37k, not $27k (huge difference in terms of standard deviations away from the mean), and it was not a "really nice" copy. It was horribly off center for the grade. I remember seeing it and thinking, "How the hell did that get an 8?" and then thinking, "this card is going to bomb for sure".

[Leon]

Not a great looking 8.

Originally Posted by Snowman

It was $37k, not $27k (huge difference in terms of standard deviations away from the mean), and it was not a "really nice" copy. It was horribly off center for the grade. I remember seeing it and thinking, "How the hell did that get an 8?" and then thinking, "this card is going to bomb for sure".

[Republicaninmass]

Originally Posted by Snowman

It was $37k, not $27k (huge difference in terms of standard deviations away from the mean), and it was not a "really nice" copy. It was horribly off center for the grade. I remember seeing it and thinking, "How the hell did that get an 8?" and then thinking, "this card is going to bomb for sure".

This is the one that sold for 27k