The Jordan 10 -- Goldin and PWCC

[Peter_Spaeth]

Howard posted this in Modern but everyone should see it. So the Jordan 10 has been dropping, and the last one sold last month in Goldin for a still impressive 233K.

According to PWCC's website, they just sold one for.... wait for it.... 840K. Sometimes, reported sales make no sense and I don't care what stupid sticker Brent put on it.

https://premierauction.pwccmarketpla...er-auction/191

[sportscardpete]

I was surprised. This one is a nicer copy - as nice as I’ve seen in a while - but I was surprised. The exquisite Jordan’s went strong as well. Too early to tell what this sale means but I’m not sure this is the new level - and might bring out some more 10s from people who bought as recently as a few weeks ago.

[Peter_Spaeth]

Originally Posted by sportscardpete

I was surprised. This one is a nicer copy - as nice as I’ve seen in a while - but I was surprised. The exquisite Jordan’s went strong as well. Too early to tell what this sale means but I’m not sure this is the new level - and might bring out some more 10s from people who bought as recently as a few weeks ago.

600K more than the last one? 3.5x? VERY hard to believe.

[Bored5000]

Originally Posted by Peter_Spaeth

600K more than the last one? 3.5x? VERY hard to believe.

As extra $600K for excellent packaging, IMO.

[chriskim]

That $840K jordan wasn't a perfect Jordan, the back is still slightly off center. PWCC is trying to pump those Jordan RC PSA10 back above $500k again.

[Johnny630]

Originally Posted by Peter_Spaeth

600K more than the last one? 3.5x? VERY hard to believe.

It’s it’s BS. I’m sure it was bought but with what assets? By What Person/Group of investors?

I’ve been saying it for years PWCC is not a accurate numbers as to the True Value of a Graded Card regardless of their fancy marketing.

I think this is happening so they can drive up the under cards. You would be amazed at how many people on Facebook boards believe PWCC numbers as Gospel.

PWCC has one major positive there are a lot of ignorant people with money who can’t see the forest for the trees.

[chriskim]

Not a "regulated" transaction....

A sold the card to B and A=B!

or

A "sold" the card to B and money never exchanged but just hyped news!

[samosa4u]

Cards that were listed on eBay at "pandemic BIN prices" are just not selling any more. And every time a blue chip gets listed auction-style, it ends lower than the one that sold before it. One way people are trying to stop this decline is by reporting private sales, and I just laugh every time I see those numbers. It's obvious that they want the market to return to 2020, but it's just not going to happen - sorry! Society is opening up and people have way more options as to where they can spend their money. Are you going to take your hot stripper girlfriend to Barbados or sit in your f**king room buying cardboard all day? Have a nice summer, everybody!

[Peter_Spaeth]

In my experience cards don't triple in price in three weeks, especially when the player is long since retired and the card is not scarce. ESPECIALLY in a flat to declining market.

[Bicem]

Was bought by Nick Fiorella or 72wootwoot72 on Instagram. His rationale is comical.

Lots of others playing up the sale on social media too, feels like a pump and dump.

[sportscardpete]

Originally Posted by samosa4u

Society is opening up and people have way more options as to where they can spend their money. Are you going to take your hot stripper girlfriend to Barbados or sit in your f**king room buying cardboard all day? Have a nice summer, everybody!

Cardboard! I mean Barbados..

[maniac_73]

Originally Posted by samosa4u

Are you going to take your hot stripper girlfriend to Barbados or sit in your f**king room buying cardboard all day? Have a nice summer, everybody!

Why cant you do both?

[Peter_Spaeth]

Originally Posted by Bicem

Was bought by Nick Fiorella or 72wootwoot72 on Instagram. His rationale is comical.

Lots of others playing up the sale on social media too, feels like a pump and dump.

With Ken the leader in Jordan 10s selling one for 223 three weeks ago, anyone wanting one obviously could have found one for not much more than that, if not less. Paying 3.5x that makes zero sense. Zero.

[Casey2296]

Originally Posted by maniac_73

Why cant you do both?

If I invested the money I spent on strippers as a young man into Cobbs & Ruths instead I could buy a house in Barbados...

[Leon]

Originally Posted by Peter_Spaeth

With Ken the leader in Jordan 10s selling one for 223 three weeks ago, anyone wanting one obviously could have found one for not much more than that, if not less. Paying 3.5x that makes zero sense. Zero.

In my experiences things don't always make sense.
And from Jeff's comment a pump and dump doesn't sound that far fetched.
.

[Johnny630]

I blame the dummies who buy into this from PWCC they’re all adults who think they know it all anyways so hell let them deal with it.

[ullmandds]

Originally Posted by Johnny630

I blame the dummies who buy into this from PWCC they’re all adults who think they know it all anyways so hell let them deal with it.

It's the majority of new money into the hobby...for now...we'll see if the $$$ stays? Read the article in the news about PWCC...and PSA...and this blogger and that hype machine...and that's good enough for this crowd to "invest!"

I mean how many of us are as knowledgable about the stocks we own as we are about our old cardboard????

[Peter_Spaeth]

Originally Posted by ullmandds

It's the majority of new money into the hobby...for now...we'll see if the $$$ stays? Read the article in the news about PWCC...and PSA...and this blogger and that hype machine...and that's good enough for this crowd to "invest!"

I mean how many of us are as knowledgable about the stocks we own as we are about our old cardboard????

Stocks trade for the most part in an efficient market and at a price over which you have no control other than to say yes or no. This is like taking a stock trading at 30 and instead of buying it at 30 offering someone 100. I don't know what these people are up to but my spider sense says no good.

[ullmandds]

Originally Posted by Peter_Spaeth

Stocks trade for the most part in an efficient market and at a price over which you have no control other than to say yes or no. This is like taking a stock trading at 30 and instead of buying it at 30 offering someone 100. I don't know what these people are up to but my spider sense says no good.

I agree with you pete regarding the manipultaion of the jordan rookie. My analogy was referencing the fact that the majority of "investors" in the stock markets...aren't super educated about what they're investing in...kinda like the frenzy of new money in the hobby are just "investing" because they read it somewhere or someone suggested it.

You'd have to throw a shitload of $$$$ at high grade jordan rookies/2nd years to corner the market and create increased demand at this fake price point. A lotta time and a lotta money.

[mrreality68]

Originally Posted by maniac_73

Why cant you do both?

I vote for both

[Peter_Spaeth]

Originally Posted by ullmandds

I agree with you pete regarding the manipultaion of the jordan rookie. My analogy was referencing the fact that the majority of "investors" in the stock markets...aren't super educated about what they're investing in...kinda like the frenzy of new money in the hobby are just "investing" because they read it somewhere or someone suggested it.

You'd have to throw a shitload of $$$$ at high grade jordan rookies/2nd years to corner the market and create increased demand at this fake price point. A lotta time and a lotta money.

Right but at least if you buy a stock you are paying what the collective wisdom of the entire world says it's worth at that given moment. You aren't paying what some unscrupulous dealer suggests you pay (I still love the guy who reviewed all his bids with Brent beforehand and ended up buying a recolored special at some staggering price) or your buddies on Twitter or what you think might push up the value of your other ones so you can dump them or whatever.

[NYYFan63]

Buyer confirmed on IG for what it’s worth..


Sent from my iPhone using Tapatalk

[maniac_73]

Originally Posted by Peter_Spaeth

Right but at least if you buy a stock you are paying what the collective wisdom of the entire world says it's worth at that given moment. You aren't paying what some unscrupulous dealer suggests you pay (I still love the guy who reviewed all his bids with Brent beforehand and ended up buying a recolored special at some staggering price) or your buddies on Twitter or what you think might push up the value of your other ones so you can dump them or whatever.

The Gamestop run is doing its best to change that narrative lol

[Peter_Spaeth]

Originally Posted by maniac_73

The Gamestop run is doing its best to change that narrative lol

I hear you. Well it's still true of MOST stocks and certainly large cap ones.

[D. Bergin]

Originally Posted by maniac_73

The Gamestop run is doing its best to change that narrative lol

Yeah, not much different then a 1000 various pump and dumps, NFT's, Crypto's, Public Offerings, and whatever else the modern unregulated financial landscape diarrhea's out into the world.

In the end a bunch of dreamers with too much money and not enough smarts end up holding the bag for a bunch of even richer then them con-artists.

[Rhotchkiss]

Originally Posted by Bicem

Was bought by Nick Fiorella or 72wootwoot72 on Instagram. His rationale is comical.

Lots of others playing up the sale on social media too, feels like a pump and dump.

Dude also broke a record a while back for highest card ever sold when he bought a Luca Doncic. My suggestion is not to invest money with this guy. As someone once said (maybe Mark Twain or Yogi Berra), the easiest way to have a small fortune is to waste away a large fortune..... See link immediately below

https://www.sportingnews.com/us/nba/...t1wu7e5qfjvcsw

[Leon]

As a previous restaurant owner it sounds like another piece of aged wisdom...

The easiest way to make a million dollars in the restaurant business is to start out with two million.

Originally Posted by Rhotchkiss

Dude also broke a record a while back for highest card ever sold when he bought a Luca Doncic. My suggestion is not to invest money with this guy. As someone once said (maybe Mark Twain or Yogi Berra), the easiest way to have a small fortune is to waste away a large fortune..... See link immediately below

https://www.sportingnews.com/us/nba/...t1wu7e5qfjvcsw

[Casey2296]

Originally Posted by Leon

As a previous restaurant owner it sounds like another piece of aged wisdom...

The easiest way to make a million dollars in the restaurant business is to start out with two million.

A reporter asked a Rancher who had just won the lottery, “what are you going to do with all that money?”

The Rancher thought for a moment and said, “Well, I guess I’ll just keep ranchin’ till it’s all gone...

[Bored5000]

Originally Posted by Leon

As a previous restaurant owner it sounds like another piece of aged wisdom...

The easiest way to make a million dollars in the restaurant business is to start out with two million.

That line has also been used with owning a racecar for as long as I can remember.

[Peter_Spaeth]

Originally Posted by Rhotchkiss

Dude also broke a record a while back for highest card ever sold when he bought a Luca Doncic. My suggestion is not to invest money with this guy. As someone once said (maybe Mark Twain or Yogi Berra), the easiest way to have a small fortune is to waste away a large fortune..... See link immediately below

https://www.sportingnews.com/us/nba/...t1wu7e5qfjvcsw

Yeah there was something incestuous and off about that one. Luka Doncic indeed, no disrespect intended to Luka who is quite a good young player but a LONG way from anyone knowing his place in history.

[Aquarian Sports Cards]

Originally Posted by ullmandds

I agree with you pete regarding the manipultaion of the jordan rookie. My analogy was referencing the fact that the majority of "investors" in the stock markets...aren't super educated about what they're investing in...kinda like the frenzy of new money in the hobby are just "investing" because they read it somewhere or someone suggested it.

You'd have to throw a shitload of $$$$ at high grade jordan rookies/2nd years to corner the market and create increased demand at this fake price point. A lotta time and a lotta money.

I dunno, it only takes a few sales to skew VCP or ebay sold results or PSA auction results etc...

[Peter_Spaeth]

Originally Posted by Aquarian Sports Cards

I dunno, it only takes a few sales to skew VCP or ebay sold results or PSA auction results etc...

And then you have... wait for it.... FOMO again!!!!!!!!

[parkplace33]

Are rich people now wanting high end sports cards as a status symbol? Similar to Rolex’s and sports cars.

If so, good for them but bad for the average collector.

[Peter_Spaeth]

Originally Posted by parkplace33

Are rich people now wanting high end sports cards as a status symbol? Similar to Rolex’s and sports cars.

If so, good for them but bad for the average collector.

Fits well with Wall St. guys buying PSA.

[ullmandds]

Originally Posted by parkplace33

Are rich people now wanting high end sports cards as a status symbol? Similar to Rolex’s and sports cars.

If so, good for them but bad for the average collector.

wonder what this means for armpit cards like I collect????

[Gorditadogg]

Originally Posted by parkplace33

Are rich people now wanting high end sports cards as a status symbol? Similar to Rolex’s and sports cars.



If so, good for them but bad for the average collector.

Great for the average collector if we can sell our cards for 30x.



Sent from my SM-G955U using Tapatalk

[MikeGarcia]

Originally Posted by ullmandds

wonder what this means for armpit cards like I collect????

..Diddley Squat ; the only other people who place any value on our Net54 armpit cards are the other two or three Net54 armpit card collectors.....


..

[rats60]

Originally Posted by Peter_Spaeth

600K more than the last one? 3.5x? VERY hard to believe.

The only explanation to me is the provenance. Being a fresh pulled and newly graded copy. Maybe the buyer trusted it wasn't altered.

Isn't there a lot of concern about altered Jordan RCs? Wasn't there a card doctor who bought up Jordan RCs, trimmed them and resubmitted to PSA?

[Johnny630]

IMO this number is not a true value for this card, sure it was bought but so what. It has been my believe it was bought by a group of investors with multiple different assets other then cash spread out amongst each other in a effort to drive up the numbers of the under cards and AH.

This is just my theory could be 100% wrong however to me fundamentally regardless of any factors mentioned above this card is not worth anywhere near their recent sale number. I’m sorry it’s just not.

[Lorewalker]

Put me in the column for skeptic. With prices dropping on this and lots of other cards since April, I just do not buy it. Feels like same old BS and if I am not mistaken, this sale was one that took place on PWCC's platform too?

[Yoda]

[QUOTE=ullmandds;2124315]wonder what this means for armpit cards like I collect???? Just give them a blast of Right Guard. They will be fine.

The market opened about 700 points down this morning. Many Wall Street pundits are predicting a major correction in equities. If so, card prices should decline, especially modern basketball.

[Johnny630]

[QUOTE=Yoda;2124504]

Originally Posted by ullmandds

wonder what this means for armpit cards like I collect???? Just give them a blast of Right Guard. They will be fine.

The market opened about 700 points down this morning. Many Wall Street pundits are predicting a major correction in equities. If so, card prices should decline, especially modern basketball.

Good to your second statement John.

[maniac_73]

[QUOTE=Yoda;2124504]

Originally Posted by ullmandds

wonder what this means for armpit cards like I collect???? Just give them a blast of Right Guard. They will be fine.

The market opened about 700 points down this morning. Many Wall Street pundits are predicting a major correction in equities. If so, card prices should decline, especially modern basketball.

We said that in March 2020 and it went the opposite. Ive given up trying to guess what'll happen anymore

[drcy]

Some prices are inherently not legitimate.

It should also be noted that rich businessmen didn't become rich by overpaying by 3x. They likely are more savvy and prudent about such purchases than the average person.

[Johnny630]

Originally Posted by drcy

Some prices are inherently not legitimate.

It should also be noted that rich businessmen didn't become rich by overpaying by 3x. They likely are more savvy and prudent about such purchases than the average person.

Agree but just because you're rich doesn't mean you can't get caught up in craziness and overbid or invest in something you probably should not have.

[Exhibitman]

840K?

[Johnny630]

Originally Posted by Exhibitman

840K?

Exaclty

[Wanaselja]

https://www.sportscollectorsdaily.co...record-840000/

[Peter_Spaeth]

Originally Posted by Johnny630

Agree but just because you're rich doesn't mean you can't get caught up in craziness and overbid or invest in something you probably should not have.

More likely to me there is some BS going on than it's a real sale where a wealthy guy was THAT stupid.

[Wanaselja]

Originally Posted by Peter_Spaeth

More likely to me there is some BS going on than it's a real sale where a wealthy guy was THAT stupid.

See link above. It was exactly that.