New T206 Doyle NATL Coming to REA

[Hankphenom]

Originally Posted by Leon

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

[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 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.

[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.

[raulus]

Originally Posted by Hankphenom

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.

I’m with you. I suspect that rich people running around buying cards are collectors and enthusiasts first, and hope to make a little money in the bargain as a nice side effect. Or at least not lose too much. But maybe I’m just projecting.

Pure investors with zero interest in the sport or in the underlying cards themselves seem like they could exist, but seem like they would be less likely to buy more than a few nice pieces here and there.

I would cite Ken Kendrick as a great example of this theory. Billionaire with a large and incredibly valuable collection, including THE Wagner. Even if he’s hoping to make some good money on the collection, it’s hard to imagine it’s his primary motivation. And now someone who knows a lot more about Ken and his collection will chime in to tell me how wrong I am.