Same SGC 7 Mantle Sold 4 times in 15 months

[Snapolit1]

I consigned a card to one of the AH advertisers here at the height of the bubble that sold for nearly 200k. Today? Maybe $125k? There was a major run up in prices. Some were legit sales; and others prob were not.

I seem to have missed the government handouts. I didn't get a dime.

Originally Posted by Topnotchsy

I have no way of knowing whether the really high sales were legit or not. But I am quite confident that there were many, many people who bought into the bubble.

Prices were skyrocketing, the narrative was that VC and other investment money had entered the hobby. A huge glut of people seemed to join the hobby during COVID (can't that couldn't be spent on experiences was being spent on things, and gov handouts meant a lot of expendible cash in the market).

With those factors and a crazy hype machine running, I believe that a ton of legit sales occurred with people buying into the hype, and in many cases, people spent money they did not have.

Thankfully for me the areas I collect are niche enough that they didn't go through the volatility (which mostly seemed to hit more popular items). It sickens me how many people who were unaware got hit really hard, whether it was new collectors who had no reference point, or vintage collectors who value what they collect and believed that others were finally catching on, not realizing it was a bubble.

[Republicaninmass]

"it's a victimless crime counselor(s)"

[calvindog]

Originally Posted by Snapolit1

I seem to have missed the government handouts. I didn't get a dime.

Did you have a payroll and rent to pay for your office in 2020-21? Why are you just figuring out now that you missed PPP and EIDL?

[Snapolit1]

Originally Posted by calvindog

Did you have a payroll and rent to pay for your office in 2020-21? Why are you just figuring out now that you missed PPP and EIDL?

My firm did, but that certainly wasn't going into my wallet to buy basebal cards.

[calvindog]

Originally Posted by Snapolit1

My firm did, but that certainly wasn't going into my wallet to buy basebal cards.

But PPP and EIDL were for employers who paid their employees during the pandemic, even though their offices were likely closed. Why are you pissed that you didn’t get any?

[Snapolit1]

Originally Posted by calvindog

But PPP and EIDL were for employers who paid their employees during the pandemic, even though their offices were likely closed. Why are you pissed that you didn’t get any?

Not pissed about anything. Don't understand the argument that one of the main reasons the card market ran up in 2021 was that people were sitting on huge piles of cash they got from the government and need to find places to spend it. Have seen that argument here many times and don't see how it makes any sense.

If a government loan allowed my employer to send me my paycheck 2x a month, why would I be any more flush with cash?

[calvindog]

I don’t buy that argument either. I don’t think PPP payments made employers flush with cash. I received about 200K in PPP and lost about $1M in income in 2020 due to the courts being closed or much slower. No one who worked for me lost a penny in salary though or had to pay a penny towards their health insurance. I paid for it all. Maybe it was my employees who were driving up the card market?

[Peter_Spaeth]

To the extent the pandemic played a role, I think it's that people did not have their usual recreation/entertainment outlets, not that 1K government checks to individuals added that much to the demand side.

[Fred]

Originally Posted by Snapolit1

Not pissed about anything. Don't understand the argument that one of the main reasons the card market ran up in 2021 was that people were sitting on huge piles of cash they got from the government and need to find places to spend it. Have seen that argument here many times and don't see how it makes any sense.

If a government loan allowed my employer to send me my paycheck 2x a month, why would I be any more flush with cash?

I'm going to guess that PPP funds to buy cards was the exception rather than the rule. Perhaps I'm just ignorant, but I can't imagine most people taking PPP funds and using it like that. Again, since it is something that was ripe for fraud, I'm sure there was abuse. It's just too bad those bad apples can't be tied to it and then hung out to dry.

[Republicaninmass]

Originally Posted by Fred

I'm going to guess that PPP funds to buy cards was the exception rather than the rule. Perhaps I'm just ignorant, but I can't imagine most people taking PPP funds and using it like that. Again, since it is something that was ripe for fraud, I'm sure there was abuse. It's just too bad those bad apples can't be tied to it and then hung out to dry.

Guess you missed at least one poster on here who was gloating about it. One of our counselors