Those that purchased expensive cards in Jan-Feb this year and are down big

[UCLAboy777]

Are you guys planning to sell with a loss (after trying to minimalize it as much as possible)- or are you guys planning to just HODL until the next pump or spike?
Lets hope Gary V or Vegas Dave pump our players one more time so that we can sell our cards on the upward movement. Any other catalyst for the next pump? Something needs to cause another parabolic rise soon

[prospectorgems]

Yeah...bought a few cards at their highs and to be honest, I would rather hold than take a loss. The good thing is, the players I bought in at the highs are still very young so hoping they either explode to hopefully break even or make a little profit. I just have no desire to lose half of the original investment on each card at this point.

[Ray27Ray52]

Sorry for your loss. Maybe next time you'll use your own brain, see the writing on the wall, and sell early instead of listening to douchebags like Gary V.

[mindcycle]

IMO, this his should have been obvious to anyone who's been collecting longer than 6 months..

I also think most cards aren't going to come back up to or exceed record highs. I could be wrong, but I think we've seen the peak for most of this stuff. Covid quarantine based nostalgia and FOMO buying seems to be behind us and people are moving on to other things. Social media influencers and hype men are scrambling to change their narrative as we speak..

[matt roberson]

I’m keeping my cards forever!!! Lol.

I didn’t make many rash purchases, bought a bunch of $5-10 cards that are still worth about that. A few larger purchases, but of young generational talents that I feel will age well so I don’t have a ton of regrets or sunk costs.

[gomiamigo]

Originally Posted by mindcycle

IMO, this his should have been obvious to anyone who's been collecting longer than 6 months..

I also think most cards aren't going to come back up to or exceed record highs. I could be wrong, but I think we've seen the peak for most of this stuff. Covid quarantine based nostalgia and FOMO buying seems to be behind us and people are moving on to other things. Social media influencers and hype men are scrambling to change their narrative as we speak..

This ftmfw.

[codered]

Originally Posted by UCLAboy777

Are you guys planning to sell with a loss (after trying to minimalize it as much as possible)- or are you guys planning to just HODL until the next pump or spike?
Lets hope Gary V or Vegas Dave pump our players one more time so that we can sell our cards on the upward movement. Any other catalyst for the next pump? Something needs to cause another parabolic rise soon

You’re honestly going to come on here and endorse d-bag influencers pumping your cards so you aren’t the one holding the bag? You sir or madam are a tool! Good day to you

[smalltown]

Originally Posted by mindcycle

Social media influencers and hype men are scrambling to change their narrative as we speak..

100% - It’s so transparent too. Move the goal posts. Change narratives. Spin, spin, spin.

[Ross]

I am very happy things are down. Maybe we can get back to our little hobby that we enjoy. Maybe the cameras will get out away, hypemen will chill out and we can go back when it was fun. You know before the #invest #flip. Keep falling!!! Make people learn a lesson is what I’m rooting for


Sent from my iPhone using Tapatalk

[indyguy]

Originally Posted by codered

You’re honestly going to come on here and endorse d-bag influencers pumping your cards so you aren’t the one holding the bag? You sir or madam are a tool! Good day to you

About a 9 on the tension scale there, Rube.

[Stoiclife]

Originally Posted by codered

You’re honestly going to come on here and endorse d-bag influencers pumping your cards so you aren’t the one holding the bag? You sir or madam are a tool! Good day to you

Anger issues much?

[codered]

Originally Posted by indyguy

About a 9 on the tension scale there, Rube.

Well for a year a large number of people complained on these boards about influencers inflating prices and people with minimal to no card knowledge hoping on board to artificially pump prices. People complained how it was ruining the hobby. People have always talked about how unethical pump and dumps are and yet here we are. Am I supposed to be sympathetic? Am I supposed to encourage more pumping and dumping? What OP is asking and hoping for is wrong. OP got suckered and is hoping he can find a bigger sucker to clean up his mess. If you don’t see anything wrong with that, I don’t know what to say.

[pejc300]

I've been in the hobby for my whole life. As much as some people in this thread like to say everything is predictable, it's not. I wish Lebron Topps Chrome PSA 10s would "come back down" to $500, like I used to pass on all the time. Thankfully, I have done very, very well in cards as a side hustle/hobby (enough that I could not work for the next several years and be fine).

Having said that, I'll confess I bought into the Kobe hype in February and bought several cards (trying not to make the same mistake I made with Lebron - thinking they'll come back down at some point but never hitting those bottoms again).

I'm down 50% on most of them which cost around, I don' know, maybe 10k total. I'm selling and taking the losses so I can reinvest into other things.

Examples would be Kobe Youthquake Chrome BGS 9. Bought for 3k, auctioning off this week and will probably go for $1200.

2003 Topps Chrome black refractor /500 BGS 9 - paid $2600, just sold for $1700 (after fees).

Lots of other cards like E-x, Topps base, etc.

I have no problems with this. I believe if I hold these cards for the next 5 years they'll go up past what I bought them for, but I'd rather have the money in hand now and reinvest. I should be able to recoup the funds in a few months.

I think everything is cyclical. Right now bass prism is in the dumps. Everyone is saying it was artificial and should never have happened. Guess what...in a few years (no idea when) the narrative will change again and bass prizm will be all the rage again. This happens all the time.

Mark the date and time. There will be a time when Zion bass prizm PSA 10s will be going for a few grand and people will say "remember when you could buy them for $400 and no one wanted them?"

If you have the luxury of holding some stuff, the buying opportunity right now is incredible.

I will FOREVER be grateful to Vegas Dave and Gary V. They changed the trajectory of my entire life. If it was not for them and other influencers, my cards would be worth 100x less than they are now.

[lyyca]

bag holding with my diamond hands!

In all seriousness, glad prices are coming down. The time to buy is now or never.

[tjforce]

Originally Posted by pejc300

I've been in the hobby for my whole life. As much as some people in this thread like to say everything is predictable, it's not. I wish Lebron Topps Chrome PSA 10s would "come back down" to $500, like I used to pass on all the time. Thankfully, I have done very, very well in cards as a side hustle/hobby (enough that I could not work for the next several years and be fine).

Having said that, I'll confess I bought into the Kobe hype in February and bought several cards (trying not to make the same mistake I made with Lebron - thinking they'll come back down at some point but never hitting those bottoms again).

I'm down 50% on most of them which cost around, I don' know, maybe 10k total. I'm selling and taking the losses so I can reinvest into other things.

Examples would be Kobe Youthquake Chrome BGS 9. Bought for 3k, auctioning off this week and will probably go for $1200.

2003 Topps Chrome black refractor /500 BGS 9 - paid $2600, just sold for $1700 (after fees).

Lots of other cards like E-x, Topps base, etc.

I have no problems with this. I believe if I hold these cards for the next 5 years they'll go up past what I bought them for, but I'd rather have the money in hand now and reinvest. I should be able to recoup the funds in a few months.

I think everything is cyclical. Right now bass prism is in the dumps. Everyone is saying it was artificial and should never have happened. Guess what...in a few years (no idea when) the narrative will change again and bass prizm will be all the rage again. This happens all the time.

Mark the date and time. There will be a time when Zion bass prizm PSA 10s will be going for a few grand and people will say "remember when you could buy them for $400 and no one wanted them?"

If you have the luxury of holding some stuff, the buying opportunity right now is incredible.

I will FOREVER be grateful to Vegas Dave and Gary V. They changed the trajectory of my entire life. If it was not for them and other influencers, my cards would be worth 100x less than they are now.

Agree with so much of this...

I feel like I'm looking at the an entirely different world than a lot of people.

I don't see a market falling, I see a market evolving.

Sure, your overpopulated stuff is down from it's Feb peak, but that should have been very obvious.

But a lot of stuff is up. In the last week:
-A Gretzky PSA 10 Rookie sold for $3.75MM
-A LeBron 2013 Prizm Gold sold for $91k
-A Brady 2013 Prizm Gold sold for $38k
-A Dame Lillard 2012 Prizm Gold sold for $76k
-A Mahomes 2017 PSA 10 Green Scope /99 (not a pedigree Prizm parallel) sold for $28k
-A Josh Allen National Treasures RPA PSA 10 sold for $76k
And that's just off the top of my head.

Study this list and compare it to the stuff that's been plummeting. See if you can spot the differences and commonalities between the two groups.

[indyguy]

Originally Posted by codered

Well for a year a large number of people complained on these boards about influencers inflating prices and people with minimal to no card knowledge hoping on board to artificially pump prices. People complained how it was ruining the hobby. People have always talked about how unethical pump and dumps are and yet here we are. Am I supposed to be sympathetic? Am I supposed to encourage more pumping and dumping? What OP is asking and hoping for is wrong. OP got suckered and is hoping he can find a bigger sucker to clean up his mess. If you don’t see anything wrong with that, I don’t know what to say.

Man, you're taking what he said way too seriously. Maybe just step away from the computer for a bit and get some fresh air.

OP obviously sees his error and is looking for thoughts on what others are doing. I took his statement of influencers coming back in to pump as more tongue in cheek, but I'm sure there is some actual hope there too.

You don't have to be "sympathetic", but you don't also have to present yourself in the way you did.

[YourAvgSutton]

Originally Posted by pejc300

I've been in the hobby for my whole life. As much as some people in this thread like to say everything is predictable, it's not. I wish Lebron Topps Chrome PSA 10s would "come back down" to $500, like I used to pass on all the time. Thankfully, I have done very, very well in cards as a side hustle/hobby (enough that I could not work for the next several years and be fine).

Having said that, I'll confess I bought into the Kobe hype in February and bought several cards (trying not to make the same mistake I made with Lebron - thinking they'll come back down at some point but never hitting those bottoms again).

I'm down 50% on most of them which cost around, I don' know, maybe 10k total. I'm selling and taking the losses so I can reinvest into other things.

Examples would be Kobe Youthquake Chrome BGS 9. Bought for 3k, auctioning off this week and will probably go for $1200.

2003 Topps Chrome black refractor /500 BGS 9 - paid $2600, just sold for $1700 (after fees).

Lots of other cards like E-x, Topps base, etc.

I have no problems with this. I believe if I hold these cards for the next 5 years they'll go up past what I bought them for, but I'd rather have the money in hand now and reinvest. I should be able to recoup the funds in a few months.

I think everything is cyclical. Right now bass prism is in the dumps. Everyone is saying it was artificial and should never have happened. Guess what...in a few years (no idea when) the narrative will change again and bass prizm will be all the rage again. This happens all the time.

Mark the date and time. There will be a time when Zion bass prizm PSA 10s will be going for a few grand and people will say "remember when you could buy them for $400 and no one wanted them?"

If you have the luxury of holding some stuff, the buying opportunity right now is incredible.

I will FOREVER be grateful to Vegas Dave and Gary V. They changed the trajectory of my entire life. If it was not for them and other influencers, my cards would be worth 100x less than they are now.

This thread should be locked after this post. Wish there was a standing ovation emoji.

[cboog3105]

i got a lebron secret weapons off a bag holder for a little less than what he got it for

prob overpaid but im happy with it

[mvp]

I don’t take any pleasure in people losing money, but I’ll get more pleasure out of the hobby if prices keep coming down.

[JohnnyHatesJazz]

Originally Posted by tjforce

Agree with so much of this...

I feel like I'm looking at the an entirely different world than a lot of people.

I don't see a market falling, I see a market evolving.

Sure, your overpopulated stuff is down from it's Feb peak, but that should have been very obvious.

But a lot of stuff is up. In the last week:
-A Gretzky PSA 10 Rookie sold for $3.75MM
-A LeBron 2013 Prizm Gold sold for $91k
-A Brady 2013 Prizm Gold sold for $38k
-A Dame Lillard 2012 Prizm Gold sold for $76k
-A Mahomes 2017 PSA 10 Green Scope /99 (not a pedigree Prizm parallel) sold for $28k
-A Josh Allen National Treasures RPA PSA 10 sold for $76k
And that's just off the top of my head.

Study this list and compare it to the stuff that's been plummeting. See if you can spot the differences and commonalities between the two groups.

evolving as in, people selling their bass and flooding the market so that they can move up and by rarer/quality?

[jcardstore]

It gives me a warm fuzzy feeling to see these influencer clowns get crushed.

[RedMike]

I think this really bother the short term folks more than the long term folks.

[GiantPirate]

I absolutely bought into some of the hype and I've been apart of this hobby for 20 years now and used to manage a card store. I'm not ashamed to admit it and even know it is tempting to not spring and buy a few cards I have my eyes on or want to get in on a player in the moment.

I am willing to bet that 90% of the people on this board made purchases that they may end up losing money on but are commenting on how anyone buying during the past year and a half is an idiot, they just won't admit it. Yes there are some obvious things to avoid (like when 1990 Fleer Jordan's were selling for $20 a pop) but many things were not so clear in the moment.

That said, I'm sure the same people have also made a ton of money during this stretch as I have as well. I am more than grateful for the boom and as others have said, the extra cash has been amazing.

I really do think this is like a Sosa/McGuire boom for the hobby. It has brought a ton of new people into the mix which is great to see. Not everyone will stay and I'd like to think that many of the bad apples will be the first to leave.

Also, many of my purchases when I first came back into the fold during this boom was inspired by board members here that thought xyz were great investments, but that wasn't the case whatsoever. I'm not mad, I just find it funny again, how there are so many people on here whom never make a mistake and are so much smarter than most. It must be exhausting.

In terms of things I've lost a decent amount on (mainly Ja Morant and Hoops Premium), I have sold off most while holding some. I do think Morant has a great career ahead of him, so I'm not upset about it. Again, when I've made as much as I have during this, I can't be bitter about a few misses.

Overall, I'm in a much better place about it and a lot smarter about how and when I am investing. The market is crazy, it's ever changing and in a lot of ways, hard to predict no matter what board member or "influencer" might have to say about it.

I'm happy this brought me back into the hobby, I enjoy it quite a bit have met some great new people and had a lot of amazing moments during this gold rush I'll remember for the rest of my life.

[pejc300]

Originally Posted by jcardstore

It gives me a warm fuzzy feeling to see these influencer clowns get crushed.

Newsflash...they didn't get crushed. They made and are making a ton of money off of everyone else. They are not the ones getting crushed...

[JoeAdam]

Here's the way I look at it. I was in the hobby long before the spike. I sold tons of cards at their highs or on the way up. I then used those proceeds to buy overpriced cards at the peak. If they come crashing down I'm basically back to where I started but with different cards.