Why are people dumping?

[superdan49]

Originally Posted by PacklineD

Well I used to collect bassball cards but then one day I heard a DAME DOLLA song and the base was so awesome that I had to start collecting his bass RCs

You spelled clect wrong.

[jbball50]

It’s the playoffs... if the player isn’t in the playoffs the prices of that player goes down...I’m guessing you’re talking about players like luka because from players who weren’t in the playoffs they’re still at the same prices.

[RandyC]

About a month ago I sold a lot of cards that I wasn't in love with. Most of the cards sold for 10X what I paid for them. I'm not a big seller but it would have been idiotic for me not to sell when the market was at an all-time high.

[PoPCulture]

Originally Posted by Ewing8888

For sure how about Saquon Barkley. His prizm RC PSA 10 is been hitting $400.00 the last few days. i guess that's not a shocker when Christian McCaffrey prizm rc is going for $800. %%% Leonard Fournette a guy who was cut the other day is selling for $200 prizm rookie. :

A $40 card last week. A $10 card 3 days ago. A $200 card today because he’s going to be staring at Tom Brady’s A$$ 10-12 times a game. Gotta love #2020!

[Schmoove]

People are probably dumping for a variety of reasons. Smart people are dumping base cards to take profit or to upgrade to a better model. Probably a bunch of new entrants panic selling because they did not realize that the market would turn down after the season ended.

[Vinny1984]

Originally Posted by The Accountant

The money is going towards baseball / football now

Bingo

[Ericc5Bears]

The 5 biggest market movers right now in my opinion are:

Luka (eliminated in the first)
Zion (didn't even make the playoffs)
Ja (didn't even make the playoffs)
Lebron (still looking good)
Giannis (2 games away from being a massive disappointment for the 2nd year a row)

These guys are plain and simple the FAANG of basketball cards. If Apple, Amazon, Netflix, and Google all had a terrible quarter the stock market would absolutely tank and what you're seeing here is no different. The only players who will see an increase in value over the next 2-3 months will be whoever wins the finals and MAYBE 1 or 2 young players that show out in the next 2 rounds.

[DajuanWagner]

Originally Posted by Schmoove

People are probably dumping for a variety of reasons. Smart people are dumping base cards to take profit or to upgrade to a better model. Probably a bunch of new entrants panic selling because they did not realize that the market would turn down after the season ended.

Never dump bass!!!!!!!!!!!!!!!

[Dnic]

Originally Posted by Ericc5Bears

The 5 biggest market movers right now in my opinion are:

Luka (eliminated)
Zion (didn't even make playoffs)
Ja (didn't even make playoffs)
Lebron (still looking good)
Giannis (2 games away from being a massive disappointment for the 2nd year a row)

These guys are plain and simple the FAANG of basketball cards. If Apple, Amazon, Netflix, and Google all had a terrible quarter the stock market would absolutely tank and what you're seeing here is no different. The only players who will see an increase in value over the next 2-3 months will be whoever wins the finals and MAYBE 1 or 2 young players that show out in the next 2 rounds.

You missing Tatum lol

[CC_123]

Originally Posted by Ericc5Bears

The 5 biggest market movers right now in my opinion are:

Luka (eliminated in the first)
Zion (didn't even make the playoffs)
Ja (didn't even make the playoffs)
Lebron (still looking good)
Giannis (2 games away from being a massive disappointment for the 2nd year a row)

These guys are plain and simple the FAANG of basketball cards. If Apple, Amazon, Netflix, and Google all had a terrible quarter the stock market would absolutely tank and what you're seeing here is no different. The only players who will see an increase in value over the next 2-3 months will be whoever wins the finals and MAYBE 1 or 2 young players that show out in the next 2 rounds.

LeBron is going to continue to see an increase no matter. He has cemented his legacy as a top three player of all time. His stuff isn't going to go down any time soon (or ever).

[jjcan]

Originally Posted by magmaster21

Some of these “dumpers” got in so low that the difference between 2,000 and 1,500 for a Luka prizm bass is moot.

I got 3 PSA 10s for $50 each. Selling off one for $1500 isn’t a bad payday.

Maybe you just got in way too late and are pushing blame.

Agree!

I think the lower price sellling (dumping) really is not Dumping. A lot of people are getting their cards back from PSA now from BULK submissions.

So the cards that are PSA 10 are just getting sold at MARKET price if $650 (Zion ex) is what is is, and your cost is $50 plus grading, that is a great profit margin.

If you are actually tracking someone who bought at $1,000 and sold at $650 then yeah, I would say that is a bad Dump.

I still have Luka, Zions, Jas getting graded like everyone else, but if market price is still better and profitable for some of my cards vs cost, I will sell some and keep some.

The only thing that could have been done it get the card(s) graded faster pay more, take less or more profit and hope the cards PSA 10 for that $1,000.

All in all people are still buying regardless as with anything its all about timing.

[seabass97166]

Originally Posted by CC_123

LeBron is going to continue to see an increase no matter. He has cemented his legacy as a top three player of all time. His stuff isn't going to go down any time soon (or ever).

Disagree there. I only follow 3 cards and have all dipped in the recent weeks.

His 2019-20 Silver PSA 10 went from $2000 to $1600 (I didn't think those would stay at $2k though)

His 2003 Topps Chrome PSA 10 went from $15k to $11-13k (most auctions seem shilled though, simply too many of them, hard to tell the true value)

His 2003 UD #301 PSA 10 went from $5k to $2700-$3000 (not a large sample size, glad I sold mine for $4800 cash locally after the $5100 sale by PWCC. Worth the 30 minute drive to deliver it in person)

.

[Ericc5Bears]

Originally Posted by CC_123

LeBron is going to continue to see an increase no matter. He has cemented his legacy as a top three player of all time. His stuff isn't going to go down any time soon (or ever).

Long term I strongly agree, I think him and Steph are the absolute safest investments you can make in cards. However, if they lose in the WCF or even the finals I'd bet that his prices are lower 2 months from now than they are today.

[Ericc5Bears]

Originally Posted by seabass97166

Disagree there. I only follow 3 cards and have all dipped in the recent weeks.

His 2019-20 Silver PSA 10 went from $2000 to $1600 (I didn't think those would stay at $2k though)

His 2003 Topps Chrome PSA 10 went from $15k to $11-13k (most auctions seem shilled though, simply too many of them, hard to tell the true value)

His 2003 UD #301 PSA 10 went from $5k to $2700-$3000 (not a large sample size, glad I sold mine for $4800 cash locally after the $5100 sale by PWCC!)

.

Yup, the signs are already showing that Lebron, just like everybody, will be affected by the Luka, Zion, Giannis plummet. Unless of course he wins a championship (please happen I have so much Lebron lol)

[jzx1103]

Originally Posted by seabass97166

Disagree there. I only follow 3 cards and have all dipped in the recent weeks.

His 2019-20 Silver PSA 10 went from $2000 to $1600 (I didn't think those would stay at $2k though)

His 2003 Topps Chrome PSA 10 went from $15k to $11-13k (most auctions seem shilled though, simply too many of them, hard to tell the true value)

His 2003 UD #301 PSA 10 went from $5k to $2700-$3000 (not a large sample size, glad I sold mine for $4800 cash locally after the $5100 sale by PWCC. Worth the 30 minute drive to deliver it in person)

.

Any player can get hit with short term drops, even Michael Jordan (short term drop just recently after the initial hype buys after the documentary). Long term though, the Jordan, Kobe, Lebrons will always steadily increase in value. Like Mickey Mantles in baseball.

[CC_123]

Originally Posted by seabass97166

Disagree there. I only follow 3 cards and have all dipped in the recent weeks.

His 2019-20 Silver PSA 10 went from $2000 to $1600 (I didn't think those would stay at $2k though)

His 2003 Topps Chrome PSA 10 went from $15k to $11-13k (most auctions seem shilled though, simply too many of them, hard to tell the true value)

His 2003 UD #301 PSA 10 went from $5k to $2700-$3000 (not a large sample size, glad I sold mine for $4800 cash locally after the $5100 sale by PWCC. Worth the 30 minute drive to deliver it in person)

.

I'm talking from a long term prospective, which is how I always reference cards since its a hobby and a long term one at that. In the long term, LeBron is one of, if not, the safest investments you can possibly ask for in the collecting world. Michael Jordan and Kobe Bryant are the other two. If LeBron wins the title this year, his stuff is going to the moon and it isn't coming back to the prices they are at right now. The only reason he has seen some dip is, like Luka, because his stuff was apart of a buyers/sellers group. Those groups mis-manage their sales, however, and release them all into the market at once and flood it. Or, they panic sell because they went in too deep and took on too much credit card debt that they have no choice but to sell right now. The dip you are seeing in LeBron is likely an incredibly short-term dip.

[seabass97166]

Originally Posted by CC_123

The dip you are seeing in LeBron is likely an incredibly short-term dip.

Is it still a "hobby"? I guess that is the question. Many see this as the new stock market, people get in and treat players like stocks. I also think this rash of new buyers from a few months ago had little to no idea what they are doing. So yes, that short term spike was not going to be sustainable.

[CC_123]

Originally Posted by seabass97166

Is it still a "hobby"? I guess that is the question. Many see this as the new stock market, people get in and treat players like stocks. I also think this rash of new buyers from a few months ago had little to no idea what they are doing. So yes, that short term spike was not going to be sustainable.

Many of us still view it as a hobby. I know I do. Sure, I make some money off of it (typically whatever I sell goes right back into the hobby though). I very well could have sold the LeBron Topps Chrome PSA 9 rookie that I have $325 into a month or so ago when they were going for $6k. But I would personally rather own the card, unless I was in dire need for money.

[S1mpd1ddy]

Originally Posted by k13

No one cares about football. Resale is terrible.



Prizm/optic/etc. Will be popular but thats about it.

I agree. Careers in football are just too short, and even if they last long (Frank Gore), you have to be a QB to really hold any long term value. I get why the football market has a lot of money in it, but it gets less and less of mine every year.

Sent from my ONEPLUS A6003 using Tapatalk

[imbluestreak23]

Cycles. Giannis dropped 40% last year after getting bounced from the playoffs. I repeat...40%

To clarify...cards I was following...

[rangeljon]

It's for sure the new money.

Cannot stress this enough -- and protect yourself the best you can -- these new hype lords are only interested in returnable day trades. They want your PSA 10 base card and the ability to flip it within a week. They want your raw base cards that if aren't raw PSA 10s they'll send right back. And if the price drops on their PSA 10 base investments, you bet your butt you're getting it sent back to you and they're getting their coin back.

Gary Vee's 20-something sneaker-head entrepreneur disciples and their risk free investing! (They just want it more than you and aren't gonna sit back because they are grinding and hustling and other assorted brotivational sayings. By the way, have you seen my Instagram lecture on how I invest in cards?)

Market has to be steered away from base cards. Has to! Do we really all forget the Griffey rookie crash?

Anyway, I'll be watching Home Shopping Network all day buying crazy good sports card packages that are guaranteed to make me rich.

[irishfury]

I love when panic selling happens.

[orion9578]

It's not all "new money" that's been selling. I sold off 98% of my collection(1984-2018/19 stuff) over the past few months. Roughly, I got about $6.30 per $1 spent. Started collecting in 1984 but have bought/sold/traded roughly 75-80% of those years. In the end I only ended up having about 400 individual cards with an average value of $300~. I now have 8 cards from the years 1984-2018/19. As a side note, I have not counted anything bought this year as I still have everything. A fresh start was needed and I couldn't say no to the money.

[2010GBPackers]

Originally Posted by rangeljon

It's for sure the new money.

Cannot stress this enough -- and protect yourself the best you can -- these new hype lords are only interested in returnable day trades. They want your PSA 10 base card and the ability to flip it within a week. They want your raw base cards that if aren't raw PSA 10s they'll send right back. And if the price drops on their PSA 10 base investments, you bet your butt you're getting it sent back to you and they're getting their coin back.

Gary Vee's 20-something sneaker-head entrepreneur disciples and their risk free investing! (They just want it more than you and aren't gonna sit back because they are grinding and hustling and other assorted brotivational sayings. By the way, have you seen my Instagram lecture on how I invest in cards?)

Market has to be steered away from base cards. Has to! Do we really all forget the Griffey rookie crash?

Anyway, I'll be watching Home Shopping Network all day buying crazy good sports card packages that are guaranteed to make me rich.

Couldn't agree more. Below is one of my posts in the "Kobe Topps rookie is booming" thread, posted 8/4/2020.

I can't believe this thread is 7 pages deep. What's more is that people are trying to rationalize Kobe's Topps RC spiking in value because it's his "true rookie." The reason his Topps RC is spiking is because groups of investors are treating volume printed rookies as commodities. It becomes easy to control the value of cards that have been printed in mass quantity and are always readily available vs. cards that are actually rare - you can't control what you can't buy. When this bubble pops, it's popping hard.

The high these investors were on was real. I couldn't mellow it. Now reality has hit. Up until a week or so ago, they were up to 6k. The last one at auction went for $3,100, and that was a Probstein auction. A PROBSTEIN AUCTION!!

[DajuanWagner]

Originally Posted by orion9578

It's not all "new money" that's been selling. I sold off 98% of my collection(1984-2018/19 stuff) over the past few months. Roughly, I got about $6.30 per $1 spent. Started collecting in 1984 but have bought/sold/traded roughly 75-80% of those years. In the end I only ended up having about 400 individual cards with an average value of $300~. I now have 8 cards from the years 1984-2018/19. As a side note, I have not counted anything bought this year as I still have everything. A fresh start was needed and I couldn't say no to the money.

Which 8 cards??????