May Goldin Auction

[shakobe]

Originally Posted by Kobefan

The Kobe masterpiece 1/1 seems to be one of the biggest steal of the night. Obviously, none were sold in the past year and it was still sold well below several other Kobe cards.

💯 agree and the Kobe logoman auto 1/1 for 600k including bp was positively the biggest shocker of the night

[Toolzs]

A 96/97 Chrome Basketball Box going for more than a BGS 10 Chrome Kobe?
The Hobby is ib good shape^^
Collectors everywhere 😅

[bmf]

Originally Posted by Kobefan

The Kobe masterpiece 1/1 seems to be one of the biggest steal of the night. Obviously, none were sold in the past year and it was still sold well below several other Kobe cards.

which lot # was that?

[Kobefan]

Originally Posted by shakobe

💯 agree and the Kobe logoman auto 1/1 for 600k including bp was positively the biggest shocker of the night

Yes, as a Kobe collector, I honestly would prefer those 2 cards over a kobe pmg green.

[Kobefan]

Originally Posted by bmf

which lot # was that?

This:
https://goldinauctions.com/LotDetail...entoryid=85433

[bmf]

Originally Posted by Kobefan

This:
https://goldinauctions.com/LotDetail...entoryid=85433

thank you.

[notfast]

So are all the reserves hidden via Goldin?

[siebertb]

Originally Posted by tjforce

The Jordan auto doing over $2MM is solid, even if there was no last minute action.

The big LeBron/Kobe's and LeBron Prizm Golds did well too.

Maybe just wishful thinking because I have one but I thought 13/14 LeBron Prizm Gold BGS 9.5 would hit 100k. Such a rare card I doubt being BGS rather than PSA matters too much but I could be wrong

[bmf]

Originally Posted by tjforce

The Jordan auto doing over $2MM is solid, even if there was no last minute action.

I agree. Well sold and well bought, congrats to consignor and new owner. But nowhere near breaking the 5.2MM record set by the LeBron /23 gold RPA as some people were predicting in the other thread. Of course, those people are nowhere to be found now.

[slev]

As an owner of this card, I was glad to see the Lot 380 - 2009/10 LBJ Exquisite Logos /16 BGS 7/9 Auto up for auction.

It did $81K USD, a touch under $100K USD with BP.

What are people’s thoughts on this? First one I’ve seen hit the market since I’ve been involved.

[Onepocketj]

Originally Posted by hairyangryfella

That's a very arrogant post when straight from the horse's mouth you get told: "We have not been utilizing reserves so you need to trust us that we are getting high prices"

Maybe you should actually read their auction rules...

4.Minimum Bids and Reserves: Every lot within the auction does have a minimum bid designated in both the catalog as well as online. A small number of lots may have a reserve price. A reserve price is a minimum bid below which the lot will not be sold. Accordingly, if the reserve price is not met at the conclusion of the auction, the lot will not be sold. Reserve bid prices are not publicly available and will not be published, except that two days prior to the auction close, any item with an unmet reserve will be annotated with “Reserve Not Met” in the online bidding. Reserve bids are available to the House and the House may, at its discretion, confidentially place reserve bids and set "up to" bids where the next bid in succession would hit the reserve price. No reserve price bids placed by the House will be executed at a level greater than one bid below the actual reserve. Any lot that had an unmet reserve at the conclusion of the auction will show as a "pass" in the online catalog.

[Kobefan]

Originally Posted by bmf

I agree. Well sold and well bought, congrats to consignor and new owner. But nowhere near breaking the 5.2MM record set by the LeBron /23 gold RPA as some people were predicting in the other thread. Of course, those people are nowhere to be found now.

I honestly think that many of us have greater feels for the hobby and can better estimate a card's relative value to other cards based on its historical significance. Unfortunately, most of us don't have the deep pockets to influence the sold prices and those who have the deep pockets aren't always knowledgeable enough on the hobby, but rather relied on a third party.

[gomiamigo]

Durant Limited Logos went for $90k with BP, BGS 9.5 but did not hit reserve.

Pretty solid imho given the pullback.

[Orangejello727]

Originally Posted by Specialkmaster

The Bitcoin and crypto crash this past week definitely affected these numbers. But, still, I can’t believe the Lebron exquisite only went for $760k?!?

Here is what I dont understand about the high end market with 2 different sides of opinions. People keep saying those buying million dollar cards have deep pockets and money is nothing for them. In the next sentence people claim a dip in the crypto market or soft market in general has people concerned and holding their money. Which is it? Do these guy have so much much that a few million doesnt matter or do they actually hurt because a million dollar loss kills them?

You cant have both. Reminds me of the guy who claim.. "Never to be seen again"...."Locked up forever, this is your last chance to see one every again".

Always the same stories. Cards that never would show up again seem to show up all the time for sale. Money matters. Everything has a price. Remember that.

[Onepocketj]

Originally Posted by Orangejello727

Here is what I dont understand about the high end market with 2 different sides of opinions. People keep saying those buying million dollar cards have deep pockets and money is nothing for them. In the next sentence people claim a dip in the crypto market or soft market in general has people concerned and holding their money. Which is it? Do these guy have so much much that a few million doesnt matter or do they actually hurt because a million dollar loss kills them?

You cant have both. Reminds me of the guy who claim.. "Never to be seen again"...."Locked up forever, this is your last chance to see one every again".

Always the same stories. Cards that never would show up again seem to show up all the time for sale. Money matters. Everything has a price. Remember that.

Just because people have money doesn't mean they don't care about it. If someone was told to invest in crypto and it was a sure thing and then they lost millions on it, how soon do you think they are going to listen to someone about the next sure thing?

I know plenty of people with large sums of disposable money that aren't buying anything right now because they are waiting to see how things play out.

[Orangejello727]

Originally Posted by Onepocketj

Just because people have money doesn't mean they don't care about it. If someone was told to invest in crypto and it was a sure thing and then they lost millions on it, how soon do you think they are going to listen to someone about the next sure thing?

I know plenty of people with large sums of disposable money that aren't buying anything right now because they are waiting to see how things play out.

Not true. Im on gamblers forums about casino talk. Ive heard from people who have no issues gambling 3 to 10 million in a weekend. People who care about the money they have. But they can accept the swings and losses. Now here we are talking about people who cannot accept a swing or variance of less than 1 million who some people consider the the most wealthiest people in the world? Come on. Lets get real here.

Im starting to believe that these people thrown big $$ around on sport cards are just invested in sports card and their wealth has been recently built on the surge in this industry. They honestly cant accept or handle million plus dollar variances. Im not knocking them, just a reality check here. These guys might have a million dollar sports card collection, but they aren't flaunting 200+ million dollar net worths let alone billionaire status. They are normal people like the rest of us. Only difference is they have heavily invested in sports cards.

[dream34]

Originally Posted by Onepocketj

Maybe you should actually read their auction rules...

4. ..... Reserve bids are available to the House and the House may, at its discretion, confidentially place reserve bids and set "up to" bids where the next bid in succession would hit the reserve price. No reserve price bids placed by the House will be executed at a level greater than one bid below the actual reserve. .....

Am I missing something or is this the house bidding an item up with no intention to pay? I'm sure I'm missing something and someone else can explain how this is not market manipulation.

[hauntedcomputer]

Originally Posted by Orangejello727

Not true. Im on gamblers forums about casino talk. Ive heard from people who have no issues gambling 3 to 10 million in a weekend. People who care about the money they have. But they can accept the swings and losses. Now here we are talking about people who cannot accept a swing or variance of less than 1 million who some people consider the the most wealthiest people in the world? Come on. Lets get real here.

People with a gambling addiction do not care how much they win or lose, they are going to gamble until they die. Even being broke doesn't seem to stop them, and sometimes even death doesn't stop them. Cards are slightly less of a gamble--there is an element of speculative chance, but also a hundred-year history as a somewhat predictable asset class.

That said, a lot of rich guys aren't that smart because they discount timing and luck. Ask them how to make money and they will spout how THEY made money, usually vastly overestimating their own abilities and intelligence while downplaying good fortune, and they are usually backed pretty heavily by other people's money and labor (or even society's).

So just because a guy (and they're all guys) pays millions for a card doesn't mean he's ahead of the crowd. It just means he's temporarily the greatest fool. Sometimes it works out, and if it does, he will brag about how smart he was. If it doesn't, he writes off the capital gains loss on his taxes and lets the rest of us subsidize their foolishness.

The card hobby is a negative sum game. Everyone is losing money in aggregate. Therefore, not everyone is a genius. But the story of tens of thousands of collectors losing smaller amounts of money never makes the news. Then it's a "hobby."

But if I had crazy money, why not blow it on cardboard pictures of men in shorts?

[thenwhatjk]

Great post hauntedcomputer

[hairyangryfella]

Originally Posted by Onepocketj

Arrogant how? I watched the auction. It got to 140k, ended and said "reserve not met". The guy said in the thread he had the reserve at 150k. Not arrogant. Facts.

Arrogant because it's like you're blaming people for not using reserves, when Ken Goldin himself told me they don't use them...

[gomiamigo]

Originally Posted by hauntedcomputer

The card hobby is a negative sum game. Everyone is losing money in aggregate.

Agree with everything you said but this one part. It probably is, but doesn't have to be a neg-sum game I would say.

[Onepocketj]

Originally Posted by dream34

Am I missing something or is this the house bidding an item up with no intention to pay? I'm sure I'm missing something and someone else can explain how this is not market manipulation.

Yes. Every auction house does this. It's in the policies on each website.

[Onepocketj]

Originally Posted by hairyangryfella

Arrogant because it's like you're blaming people for not using reserves, when Ken Goldin himself told me they don't use them...

The option is there if they want to use it. No idea what Ken told you but it couldn't be more obvious on the website. Stated very clearly.

[pcptrade]

Originally Posted by dream34

Am I missing something or is this the house bidding an item up with no intention to pay? I'm sure I'm missing something and someone else can explain how this is not market manipulation.

Yep, most auction houses do it. They may place bids to get it close to the reserve price and hope some one will place a bid so that the reserve is hit.

[hairyangryfella]

Originally Posted by Onepocketj

The option is there if they want to use it. No idea what Ken told you but it couldn't be more obvious on the website. Stated very clearly.

I told you what Ken told me. I posted it in quotation marks... If the guy running the organisation is telling you what they can do with your item but that they don't utilize reserves, that kind of supercedes the things stated on their site, no?