Card Interest Down? Not at the National.

[BobbyStrawberry]

Originally Posted by Huck

I had plans to attend the National, but life got in the way. I really do enjoy the hobby. On another thread, I mentioned how the annual Beckett Price Guide opened my eyes to what was out there. NET54 really opened my eyes even wider as to what members of the hobby collect. Pennants? Pins? Who knew?

From the size of the daily crowds, the hobby is clearly healthy. However, as I read and watched the daily National recaps and videos (thanks to those who posted), I could not help but wonder is the hobby bubble proof? Manufactured scarcity of star players is the red meat that keeps folks rabid to break wax. In the end it is just fancy paper. Perhaps it is crypto currency generational effect, everything just keeps going up and up until it does not.

"Household Debt Climbs to $17.69 Trillion in First Quarter; Delinquency Rates Rise Again 

Total household debt rose by $184 billion to reach $17.69 trillion, according to the latest Quarterly Report on Household Debt and Credit. Mortgage balances increased by $190 billion to $12.44 trillion, while balances on auto loans climbed $9 billion to $1.62 trillion, continuing their upward trajectory. Credit card balances declined, as is typical for the first quarter, falling by $14 billion to $1.12 trillion. Nearly 9 percent of credit card balances and 8 percent of auto loans (annualized) transitioned into delinquency. "

Wow, $2.74 trillion in auto and credit card debt combined! Are card collectors just independently wealthy? Every so often the stock market gets frothy and a correction of 10% (or more) happens. Thus far the hobby seems to be immune from such a correction. Don't get caught holding the bag..............

There is definitely a certain amount of wealth required to deal in higher end stuff as many members here do. Spending $10k+ on a piece of cardboard is something only a small fraction of Americans can manage.

I would guess there are many out there who are borrowing to support their activities in the hobby. I recall reading recently that something like 85% of new car and 40% of used car purchases are financed, which is absolutely crazy to me. People just want stuff they can't afford.

[Brian Van Horn]

When I went on Thursday July 25 that was by far the most crowded National I have ever attended.

[raulus]

Originally Posted by BobbyStrawberry

There is definitely a certain amount of wealth required to deal in higher end stuff as many members here do. Spending $10k+ on a piece of cardboard is something only a small fraction of Americans can manage.

I would guess there are many out there who are borrowing to support their activities in the hobby. I recall reading recently that something like 85% of new car and 40% of used car purchases are financed, which is absolutely crazy to me. People just want stuff they can't afford.

It's the new American dream!

Living your entire adult life 1 penny away from bankruptcy.

[BioCRN]

I have nothing to back it up except personal observation...nonetheless, the people I see buying cardboard that maybe shouldn't are the pack/box busting types, not the buying-singles type. By a wide margin, those are the guys/gals I see rolling up trying to sell nearly their entire collection at once because "something came up."

That said, and though it's something that's been offered by auction houses for a long time, I'm seeing (and getting in emails) a whole lot more offers to give you money up front if you cosign cards. There's auction houses that didn't used to do this as a means of promotion that are now extremely up front about their ability to do this.

[Johnny630]

Did anyone notice if many dealers with middle to higher end vintage had a large majority of their cards graded by CSG?? I have to say most who were vintage dealers had tons of SGC and PSA slabs.

[Scott L.]

Originally Posted by Johnny630

Did anyone notice if many dealers with middle to higher end vintage had a large majority of their cards graded by CSG?? I have to say most who were vintage dealers had tons of SGC and PSA slabs.

I saw very few CSG slabs personally.