CNN card story

[conor912]

https://www.cnn.com/2021/02/12/inves...ets/index.html

[Johnny630]

Investors/Speculators/Gamblers then a few of us left who are hobbyist.....my oh my 2020-21 has taken this to a new level.

[AGuinness]

With utmost respect for Ken Goldin, but whenever I read a quote like,"I wouldn't go anywhere near the word bubble," that just seems like I'm being sold something. Yes, there may be 100 people trying to buy an MJ rookie for every one person in 2019, but will that demand be sustained for this year and the years to come?
As the story notes, the boom has it's roots in the pandemic. At some point, the pandemic will subside, and what happens with demand then?

[TedWill1939]

Read that this morning.

Very thankful I was did some heavy buying 3 yrs ago. I have done no buying since the pandemic. I few holes I wish I filled when I had the chance. I suppose I will be on the sidelines for awhile to figuire which way this will be headed or perhaps the ship has sailed and I am priced out for good.

I am a lowgrade collector, I can't imagine the choices some of the upper tier collectors are facing, as there is some serious money being thrown down.

[byrone]

There have been multiple major media stories on our hobby lately.

Sure sign of a market top?

[Seven]

Originally Posted by TedWill1939

Read that this morning.

Very thankful I was did some heavy buying 3 yrs ago. I have done no buying since the pandemic. I few holes I wish I filled when I had the chance. I suppose I will be on the sidelines for awhile to figuire which way this will be headed or perhaps the ship has sailed and I am priced out for good.

I am a lowgrade collector, I can't imagine the choices some of the upper tier collectors are facing, as there is some serious money being thrown down.

I mostly go after eye appeal myself, Low grades have typically been my bread and butter. Especially as I reentered the Hobby in 2019. I think the term "Serious Money" is relative but I would tend to agree. Serious Money to me is anything over a few thousand at this point in my life. As I try to allocate money for a house, and sock some away for retirement. Before the Pandemic Boom when I saw a 52 topps Mantle in a 1, going for the 10K mark, I was saying to myself "I can defintely get this card in a handful of years, It'll be rough, but it's possible"

Now with a PSA 1's being listed for over 30K it looks less likely as of this moment. I say "As of this moment" because if there is one thing I've learned on here, specifically, it's that collecting is a lifelong Journey. Market will rise and fall, and sure it's very easy to regret purchases not made, but at the same time it is what it is.

I'm in it for the long haul, I'd imagine most of these "Invstors" and "Flippers" are not.

[Touch'EmAll]

Wow, Jig step, dance, hoot and hollar! Not buying now, bet tickled pink to sit tight on what I have. Bet we have a lot of happy campers that frequent this site - holding some darn nice stuff. Congrats to all!

[Exhibitman]

Mixed feelings here: The financial benefits of a coterie of investors getting into cards versus the inevitable inability to collect what I want due to being priced out. I am watching the rise in value carefully; if my collection reaches a certain price level I am selling out and sticking with everything 1970s from when I was a kid instead.

Do you suppose we could get these investors interested in boxing cards? Please??

[AGuinness]

Originally Posted by Exhibitman

Do you suppose we could get these investors interested in boxing cards? Please??

Have boxing cards not enjoyed a bump? I'm curious if there is a modern equivalent to boxing cards, such as MMA. Do you track anything like that?

[DeanH3]

Originally Posted by Exhibitman

Mixed feelings here: The financial benefits of a coterie of investors getting into cards versus the inevitable inability to collect what I want due to being priced out. I am watching the rise in value carefully; if my collection reaches a certain price level I am selling out and sticking with everything 1970s from when I was a kid instead.

Do you suppose we could get these investors interested in boxing cards? Please??

I agree Adam. I have to admit, I have wondered if the smart play is to sell and see what happens down the line.

[Tao_Moko]

Originally Posted by Exhibitman

Mixed feelings here: The financial benefits of a coterie of investors getting into cards versus the inevitable inability to collect what I want due to being priced out. I am watching the rise in value carefully; if my collection reaches a certain price level I am selling out and sticking with everything 1970s from when I was a kid instead.

Do you suppose we could get these investors interested in boxing cards? Please??

Sure, sure. It's a disease. I have sold my collection no less than 3x and here I am again.

[topcat61]

I've watched so many youtube videos and read too many articles from non-collecting reporters that I get the sense that many of the collectors aren't really dipping their toes into vintage. A lot of the cards that are going up in value are not even post-war, but junk wax and current.

I feel that we've been here before when Baby Boomers got back in the hobby after graduating from College, getting better jobs or started having children and getting in it with them.

This may be a little different because Hedge Funds and companies are getting into the hobby as a way to invest like they would a piece of art. I think that's real stupid way to go by the way. I also think that collectors or investors go in on one card, sell it and split the proceeds, or keep it and sell at a later date and the latter can become very challenging if a conflict arises.

Personally, I dont think Hedge Funds have any business in the hobby and all the crazy money is from stupid purchases by people who lack any hobby knowledge or common sense. It's just my opinion but I was around during the crash of 1992 and remember how collecting modern cards was back in the 1980's and there was a lot of speculation gone wild.

Again, I dont see a lot of hobby knowledge with these new collectors and it appears that they're treating the hobby as a stock market. It doesn't seem that they care about the cards, players or hobby except that it's a quick buck based on speculation...or gambling. These guys seem like day traders to me?