Anyone watching the insane basketball card prices?

[Exhibitman]

All the big rookies seem to be on fire. I’ve watched the Dr. J in PSA 8 jump from $800 to $4600 in a couple of years. It is getting to the point where I am tempted to take some money off the table.

[shagrotn77]

LeBron and Kobe Topps Chrome rookies are going for mind-boggling money.

[vintagewhitesox]

Even the Magic/Bird RC exploded, and the bird and magic second years. insane.

the panini prizm silver craze is insane.

[irv]

My only basketball card, which I picked up for a song years ago, but certainly wish I had of purchased more.

Not sure how true this is but its been said this craze with BB cards is due to the game being so international and is mainly driven by Asian's?

[vintagewhitesox]

Irv. I have about 135 of those in psa 9. Picked them up for dirt cheap. Couldn’t give them away at the National last year. Now they are on fire.
The Jordan stuff is hot because of last dance I think.

[irv]

Originally Posted by vintagewhitesox

Irv. I have about 135 of those in psa 9. Picked them up for dirt cheap. Couldn’t give them away at the National last year. Now they are on fire.
The Jordan stuff is hot because of last dance I think.

I haven't followed them for a while now but I did see one a couple months ago or more sell for $140 U.S., IIRC?
I heard the Last Dance was a major reason for his cards rising exponentially but it looks like everything is going through the stratosphere.

Just did a quick search and found this one. 10's are selling much higher of course.
https://www.ebay.com/itm/1992-1993-T...p2047675.l2557

[Vintage Basketball Pat]

Originally Posted by Exhibitman

All the big rookies seem to be on fire. I’ve watched the Dr. J in PSA 8 jump from $800 to $4600 in a couple of years. It is getting to the point where I am tempted to take some money off the table.

Adam, I am glad you brought this up. I bid on an Erving PSA 8 less than a month ago - lost at $1600...now $8000+.

So I did some research of 60s and 70s HOFs. There are primarily two buyers over the past month driving this insane increase. One has bid 704 times in one month - the other 632 times. If you look at PSA 8s, 9s, 10s...these are the buyers.

Eventually this bubble has to stop. The problem is that it makes its own market. People will start to believe that these cards are actually worth this kind of money. They shouldn't be. There is a big difference in rarity between a PSA 8 and a PSA 9 for older cards (usually).

It may continue, but it shouldn't. There is no logical explanation. There are a handful of people affecting this market.

[Exhibitman]

That's really interesting, Pat. I bailed out at $5500.

One thing is for sure, this is lifting other issues including ones you would not normally think of.

Query for the gang: is the extreme wait period at PSA and Beckett affecting prices too? Used to be easy to find a nice raw card, send it in, and get a graded card in a relatively short time. Not now.

[jad22]

Even the 1981-82 Topps Bird and Magic cards are doing well.

[Vintage Basketball Pat]

I agree...many issues are up. I think this might be a good time to get rid of common cards.

[Exhibitman]

Originally Posted by Vintage Basketball Pat

I agree...many issues are up. I think this might be a good time to get rid of common cards.

Absolutely. I am listing what I have in TPG holders for sale.

[swarmee]

If you don't hate Gary Vee yet, watch the video of him on Vintage Breaks opening up three 1915 era tobacco packs looking for T206 cards which couldn't have even been in them based on the tax stamps.... just straight up threw thousands of dollars in the trash.

[Vintage Basketball Pat]

This is an example. This is the main bidder. You take a card worth $350-$550 and people try to chase the auction. He has bid on almost every Russell, Chamberlain, plus other HOFs. Others get sucked into the auction. It hurts the hobby imo.

[jboosted92]

LMAO...i came here to start a thread about this.....

low and behold...

https://huntauctions.com/phone/image...=178&lot_num=1

this is nutty

[Dpeck100]

Big Gary V fan. He has done wonders for the hobby.

The guy is worth like 200 million dollars. He won't be able to advance his net worth much buying trading cards.

He just sold his wine company I saw on CNBC to Constellation Brands after a year. He is a serial entrepreneur.

Why can't a guy with so much money at his disposal have fun buying cards? People forget these uber wealthy people are just human too.

Basketball cards are cheap compared to baseball. With the sneaker heads moving in to cards it was only a matter of time until they blew up in price.

When you see images of people wiping out big box retailers like Wal Mart and Target the second product hits shelves it doesn't take a genius to figure out the older good stuff is going to go up in value.

We are seeing an avalanche of new money come into cards. Long time collectors must realize that for a time this is different. This trend isn't going to die overnight. It is accelerating and at some point perhaps it runs its course but it isn't next week.

I just sold a card to someone who the mailing address was the PWCC vault. Investors are flocking to cards and they don't care that they missed the first wave and are in the buy higher category because the momentum is undeniable.

Picking a top in the card market is going to be impossible because there are no derivatives to slow it down or artificial supply like short selling and so as long as people are wanting the stuff there is no where to go but up in price. You can't have thousands upon thousands of new collectors dying to put money to work and have prices go down on the marquee athletes cards.

I think the hardest part is being a buyer near the bottom because your cost basis is low and so once a card starts moving you feel like wow this is awesome maybe I should sell but in reality you are in the midst of a super cycle and you were just early and need to ride the wave.

[samosa4u]

Originally Posted by Dpeck100

Big Gary V fan. He has done wonders for the hobby.

The guy is worth like 200 million dollars. He won't be able to advance his net worth much buying trading cards.

He just sold his wine company I saw on CNBC to Constellation Brands after a year. He is a serial entrepreneur.

Why can't a guy with so much money at his disposal have fun buying cards? People forget these uber wealthy people are just human too.

Basketball cards are cheap compared to baseball. With the sneaker heads moving in to cards it was only a matter of time until they blew up in price.

When you see images of people wiping out big box retailers like Wal Mart and Target the second product hits shelves it doesn't take a genius to figure out the older good stuff is going to go up in value.

We are seeing an avalanche of new money come into cards. Long time collectors must realize that for a time this is different. This trend isn't going to die overnight. It is accelerating and at some point perhaps it runs its course but it isn't next week.

I just sold a card to someone who the mailing address was the PWCC vault. Investors are flocking to cards and they don't care that they missed the first wave and are in the buy higher category because the momentum is undeniable.

Picking a top in the card market is going to be impossible because there are no derivatives to slow it down or artificial supply like short selling and so as long as people are wanting the stuff there is no where to go but up in price. You can't have thousands upon thousands of new collectors dying to put money to work and have prices go down on the marquee athletes cards.

I think the hardest part is being a buyer near the bottom because your cost basis is low and so once a card starts moving you feel like wow this is awesome maybe I should sell but in reality you are in the midst of a super cycle and you were just early and need to ride the wave.

Bro ... bro ... people were saying the same thing about Vegas Dave, remember?

Ohhh, that guy has so much cash! Look at his stuff! Look at his properties, look at his cars, look at his hot girl, etc. He is just having fun with his cards and he doesn't really care ... blah, blah, blah ...

And then one of his ex-friends posted on social media that Dave wanted to make fake comps, so that he could sell his Trouts for big bucks! Money makes people do crazy things.

And regarding the sneaker heads, well, do these guys like to bid twenty-plus times on a single listing? A lot of people are complaining about that, bro. It's not only on this forum or the Blowout Forum, but all over the Internet people are pointing this out. And I don't know about "new money," but it does look like a lot of these cards are attracting "new shillers!"

Anyways, you should really consider parting with one of your PSA 9 All-star Hogans now. And with the money, you should go after a Goudey Ruth or a T206 Cobb or a Leaf Jackie or a Topps Mantle. One thing I learned about 2016 is that it is always good to diversify. And what's happening now only reminded me to take another good look at my collection and to make sure that I'm not putting too much money into one sport.

[Dpeck100]

Originally Posted by samosa4u

Bro ... bro ... people were saying the same thing about Vegas Dave, remember?

Ohhh, that guy has so much cash! Look at his stuff! Look at his properties, look at his cars, look at his hot girl, etc. He is just having fun with his cards and he doesn't really care ... blah, blah, blah ...

And then one of his ex-friends posted on social media that Dave wanted to make fake comps, so that he could sell his Trouts for big bucks! Money makes people do crazy things.

And regarding the sneaker heads, well, do these guys like to bid twenty-plus times on a single listing? A lot of people are complaining about that, bro. It's not only on this forum or the Blowout Forum, but all over the Internet people are pointing this out. And I don't know about "new money," but it does look like a lot of these cards are attracting "new shillers!"

Anyways, you should really consider parting with one of your PSA 9 All-star Hogans now. And with the money, you should go after a Goudey Ruth or a T206 Cobb or a Leaf Jackie or a Topps Mantle. One thing I learned about 2016 is that it is always good to diversify. And what's happening now only reminded me to take another good look at my collection and to make sure that I'm not putting too much money into one sport.

I didn't read threads about Vegas Dave. I will say he was very smart so anyone hating on him can say all they want but he is laughing all the way to the bank. I personally don't see the comparison as he is betting guy vs. someone who gets paid $150,000 an hour to speak and runs legit business's and is on CNBC frequently. Last year I sold him an 82 Hogan at a very fair price with the sole intent that he would put it on Twitter and if so it would be good for the rest of my cards. At a work happy hour some co workers mentioned they looked into having him as a guest speaker for clients but his cost was $150,000+ and opted not to. I said you guys will love this I sold him a wrestling card. They were like you can't be serious. I said here check it out. His overall profile in the business world is radically different than Vegas Dave.

I have sold a handful of cards to Gary since and one was $53. He is buying what he likes where in the case of Vegas Dave he went after marquee stuff only. I have recently sold another wrestling card to someone I looked up online and is very close to Gary and clearly a major mover and shaker and it was only $150. There are buyers coming in who simply want to participate.

I can't speak to the sneaker heads bidding styles. I do some funky bidding sometimes to try and throw people off. Maybe it works and maybe it doesn't. I tried this recently and got sniped at the end. The only thing I care about with bidding is you don't retract bids and you pay when you win. Everything else is just noise.

I am on Twitter and active and I can tell you beyond a shadow of a doubt that the number of collectors in the card hobby has exploded. All one must do is read tweets from the top social media "stars" like Gary V and Phil Hughes and you will see what is taking place. Bid lists for so many cards are getting longer and if you go to Watchcount.com you will see the number of watchers is up dramatically too. This is so easy to see if you venture outside of traditional card message boards.

In terms of a Hogan 9. I have no interest in selling any. I have sold two copies in the past twelve months but acquired many more and I am up to 30 in total. I believe in picking big winners and buying a lot of them and seeing how it plays out. If they collapse one day I won't be excited but life won't change and I am not willing to give up on what I believe is happening. I have stayed bullish on cards for ten years and bought lots along the way and I think we are in a massive uptrend and I am going to play my hand that way. I self grade lots of my cards so this is one of the rare places in life where you can be an insider and have a real shot to win. Long gone are the days of bringing your best cards to a shop and getting offers of 20 to 50% of active retail. The internet has given the collector power and so we all have a shot to win.

You can look at almost any genre and see massive momentum and I don't think it is going to stop anytime soon. Cards are like drugs and once people get hooked it is hard to stop.

[irv]

Well, decided to jump back in with my 2nd ever basketball purchase last night.
I was just browsing/watching/looking at current auctions and following some closings when Kawhi Leonard came to mind, who undeniably, played a huge part, if not the pivotal part, in the Raptors championship last year. Their first.

I noticed this card, a rookie, and decided to go for it. Needless to say I didn't realize he had so many RC's, but I assume that is the norm when it comes to modern?

I'm not trying to double or triple my money in a few months or anything like that. I just wanted a card that would take me back/remind me of the time when the Toronto Raptors won their first NBA Championship.

[Exhibitman]

This is quite a decline:



Not the best specimen but at $1194, down from several sales around $2,000.

Perhaps whoever was chasing these is done?

[samosa4u]

The 69' Topps Alcindor rookie is going down as well:


PSA 5 - August price was $5,000+
Last one sold for $2350.

PSA 6 - August price was $7,000+
Last one sold for $3975

PSA 7 - August price was $14,000
Last one sold for $7,901

OUUUUCCCCHHHHHHH!!!

[Exhibitman]

Pump and dump has hit dump time...

[Aquarian Sports Cards]

Let it hold out a little one more month please...

Have 20 Bird Johnson rookies in my next auction. Sets from 1974-87 with a stunning Jordan Rookie. All the Star Co cards, 20 Lebrons, etc.

[Exhibitman]

Geez, Scott, that sucks. I bet you're feeling like a faith healer with appendicitis right about now.

Let's hear from the 'this is real' price rise cheerleaders: [crickets chirping in silence].