New T206 Doyle NATL Coming to REA

[Hankphenom]

Originally Posted by 53toppscollector

the interesting thing to me when it comes to these ultra rare, insanely expensive cards is the mindset of the person who doesn't own one, wants to own one, and has the money to afford one. they are exceedingly rare, and they dont come up for auction frequently. so, when one does surface, it must take real restraint to not just do whatever is needed to get one. if you can afford $1.3m for a baseball card, you can probably afford $1.5m or $2m or $3m, right? like, if you were the underbidder on this card last night, is your thought "eh, another will pop up soon and I can try again?"

I've often wondered why anyone who can totally afford whatever they want--and I mean totally, as in no amount of money they could spend in any sports auction would mean anything to them--stops bidding on something or things they set their sights on. I've decided it must be that at some point, they start feeling stupid for continuing way above what their information tells them an item is worth. But even then, if I was in their position, I think I could fairly easily convince myself that what seems like a ludicrous bid today could likely turn into a good or even great investment over time, given the history of rare stuff in the hobby. In the end, of course, the bidding always stops somewhere, and it's fascinating to ponder "why?"

[darwinbulldog]

Originally Posted by Hankphenom

I've often wondered why anyone who can totally afford whatever they want--and I mean totally, as in no amount of money they could spend in any sports auction would mean anything to them--stops bidding on something or things they set their sights on. I've decided it must be that at some point, they start feeling stupid for continuing way above what their information tells them an item is worth. But even then, if I was in their position, I think I could fairly easily convince myself that what seems like a ludicrous bid today could likely turn into a good or even great investment over time, given the history of rare stuff in the hobby. In the end, of course, the bidding always stops somewhere, and it's fascinating to ponder "why?"

I suspect billionaires don't care about baseball card ROI. Not that they aren't investment conscious -- just that a card of Wagner or Cobb, however its price moves, is going to be pretty inconsequential relative to just buying the Pirates or the Tigers.

[rats60]

Originally Posted by darwinbulldog

I suspect billionaires don't care about baseball card ROI. Not that they aren't investment conscious -- just that a card of Wagner or Cobb, however its price moves, is going to be pretty inconsequential relative to just buying the Pirates or the Tigers.

You don't think that the guy who paid 738k each for two Michael Jordan RCs cares that he can buy them now for around 160k? There has been a pull back on a lot of cards recently. Modern has dropped dramatically, post war vintage, a little. Billionaires aren't going to blindly bid in this environment when they see what happened to those who did in the last few years. If this was Ruth, Wagner or Cobb, you can justify going hard after something you want. For a common player, I think recent trends do come into play.

[darwinbulldog]

Originally Posted by rats60

You don't think that the guy who paid 738k each for two Michael Jordan RCs cares that he can buy them now for around 160k? There has been a pull back on a lot of cards recently. Modern has dropped dramatically, post war vintage, a little. Billionaires aren't going to blindly bid in this environment when they see what happened to those who did in the last few years. If this was Ruth, Wagner or Cobb, you can justify going hard after something you want. For a common player, I think recent trends do come into play.

If he's a billionaire, yes, I think he doesn't care about losing 1 million. I also don't think the sort of person who becomes a billionaire is the sort of person who is inclined to pay 1000% more for something as common as a junk wax era base card than what it was selling for a couple of years earlier. Let alone do so twice.

[Hankphenom]

Originally Posted by darwinbulldog

I suspect billionaires don't care about baseball card ROI. Not that they aren't investment conscious -- just that a card of Wagner or Cobb, however its price moves, is going to be pretty inconsequential relative to just buying the Pirates or the Tigers.

Yes, and that's exactly my point. The price of any card is inconsequential to these whales, so why would they ever stop bidding on one they want? But something does make them stop, and that's what I find of interest.

[Leon]

Originally Posted by Hankphenom

Yes, and that's exactly my point. The price of any card is inconsequential to these whales, so why would they ever stop bidding on one they want? But something does make them stop, and that's what I find of interest.

Logic. They generally aren't billionaires by luck.
.

[Aquarian Sports Cards]

Originally Posted by Leon

Logic. They generally aren't billionaires by luck.
.

Beat me to it. I was going to say 'They didn't get to be billionaires by not caring about money'

[raulus]

Originally Posted by Leon

Logic. They generally aren't billionaires by luck.
.

Some of the time that’s true. Paul Allen might be one of the many exceptions to the rule.

[frankbmd]

Peter_Spaeth;2364411]I think at least some people who worked their way towards that kind of wealth are disciplined and won't necessarily go over their limit just because they can.

Originally Posted by raulus

I like where your head is at.

But I'm not convinced that the filthy rich are any more disciplined than the rest of us poor slobs. Maybe I've just known too many rich people who seem like they are just as human as the rest of us.

My inclination is to suspect that the underbidder here probably decided to stop when it hit $1M. Then decided "what the hell, I can stretch a little more", and bid again. A little later, made the same decision, and all of a sudden it's up to $1.3M, at which point the underbidder decided they were done.

You might be surprised where Peter's head is

[Hankphenom]

Originally Posted by Leon

Logic. They generally aren't billionaires by luck.
.

Collecting isn't logical under any circumstances, but as I said originally, nobody wants to feel stupid.

[rats60]

Originally Posted by Hankphenom

Collecting isn't logical under any circumstances, but as I said originally, nobody wants to feel stupid.

Wealthy people have been drawn to baseball cards because of the steady rise in values since the 1980s. Wealthy people like to invest in things that make them more money.

[Hankphenom]

Originally Posted by rats60

Wealthy people have been drawn to baseball cards because of the steady rise in values since the 1980s. Wealthy people like to invest in things that make them more money.

So you think there are a lot of "wealthy people" that have come into the hobby and have no interest in the cards themselves, or the history behind them, etc? I don't. Surely there are some, and some investor groups, that have come in, as I mentioned in my original post, but I'd guess most "wealthy people" buying cards also have at least some affinity for the cards themselves.

[puckpaul]

Originally Posted by Hankphenom

I've often wondered why anyone who can totally afford whatever they want--and I mean totally, as in no amount of money they could spend in any sports auction would mean anything to them--stops bidding on something or things they set their sights on. I've decided it must be that at some point, they start feeling stupid for continuing way above what their information tells them an item is worth. But even then, if I was in their position, I think I could fairly easily convince myself that what seems like a ludicrous bid today could likely turn into a good or even great investment over time, given the history of rare stuff in the hobby. In the end, of course, the bidding always stops somewhere, and it's fascinating to ponder "why?"

For one thing, it would clearly depend on rarity. If something is a card or jersey that you wanted, and you feel you might not ever see it again for sale in your reasonable lifetime, you might pay anything if money didn’t matter. If it’s a Jordan Rookie or even a Mantle Rookie, you can let it go and wait for another. It’s a human judgment call at any price to anyone.

[Hankphenom]

Originally Posted by puckpaul

For one thing, it would clearly depend on rarity. If something is a card or jersey that you wanted, and you feel you might not ever see it again for sale in your reasonable lifetime, you might pay anything if money didn’t matter. If it’s a Jordan Rookie or even a Mantle Rookie, you can let it go and wait for another. It’s a human judgment call at any price to anyone.

Of course, in any particular instance, it might depend on rarity, but rare or not, the result is always the same: The bidding always stops somewhere.