Michael Jordan RC, PSA 10, shatters 100k !!!

[dumars2001]

Originally Posted by KB81

This right here

Not 100% sure about paying a fee but I totally get the point you are trying to make.

To own a 2000 Playoff Contenders Tom Brady, 52 Topps Mantle or 1979-80 O-Pee-Chee Wayne Gretzky is a wet dream for most and rightfully so. You will own a piece of history. MJ 57 is that card to many.

There will be highs and lows - especially now in todays day and age with social media, pumpers and flippers but one thing remains constant above all... MJ is a GOAT and is respected by many. 57 will be a 1M card eventually but even if it drops to 20K for a PSA 10, which will never happen, those that have one and value MJ will always be happy regardless of price.

Very well said. Great post!

[dumars2001]

I won't even pretend to lie that I wasn't giddy watching my card (bgs 7.5) go up in value everyday but I knew (because of the attention this card was getting and the vast amounts of this card out there) it was impossible for it to continue it's blazing climb and here we are today, seeing it start its descent back down, hopefully not too far, but at the end of the day, if you own this card and bought pre-explosion (like me) you have already made out like a bandit, so no complaining from me about the card going down but if you just bought one recently at the prices we were seeing, I would be a little upset/concerned. We are also now seeing the Jordan sticker taking off on its meteoric ride up (right now). They are all over eBay for sale right now. Mark my words on that sticker, it will follow its big brother (57) and maybe continue to go up in the next few days but it will follow suit and come back down to earth in the distant future, because the market is absolutely flooded with them now! Once again, just my humble 2 cents.

[FT35]

Originally Posted by dumars2001

It skyrocketed up to $738,000 and now in a couple of weeks to lose almost 20 percent of its value is a pretty substantial and telling thing/loss. There are now so many listings of this card on eBay, that the card is going down in price across the board, especially just in the past 3 or 4 days. I really hope that trend reverses course but I see it continuing to fall because of yesterday's sale of the PSA 10 taking a hit and for the fact that I keep saying that the market is now flooded with this card and the influx of sellers making there move to sell now. Just my 2 cents.

I think you’re answering a bigger question with your reasoning—which is accurate. 57 did not lose 20% in its value in a couple weeks. The fact that everyone wanted to cash in now and listed their cards all at once kept the bidding from going higher. Prices are dipping due to that supply flood.

We all learned something from this most recent explosion. We learned that people are willing to pay crazy high amounts of $ for high grade early Fleer Jordan’s. How high? That might vary between the uniqueness of every closing bid moment. Now that we know what people are willing to pay, we may not ever see December pricing again.

I’m not a future teller! But here’s my hot take: The people listing for sale now likely owned at pre-December pricing and stood to gain a TON if selling. These will all switch hands now and for the people buying at today’s prices, it would have to raise a ton from here for them to sell. It will either raise a ton and they will sell, OR it will not, and they will hold—keeping all these recently sold Jordan’s OFF the supply chain—raising the demand for what’s left. If either scenario happens, you’ll see another increase in the future.

[dumars2001]

Another thing to keep in my mind about this whole card explosion is here we all are talking about these cards and the prices they are fetching, when it is easy to forget the suffering that the vast majority of the world's population is/has (been) going through right now. Let's all keep this in perspective and enjoy the ride for the fun and excitement it brings to us. Like Denzel Washington says, " You can't take it with you." We all love the hobby, so let's all put things in perspective and realize how lucky we all are! I want to change Allen Iverson's famous practice rant but instead of saying "We are talking about practice," change it to "We are talking about cards." I hope everyone counts their blessings everyday, feels happy/healthy and just enjoys the ride and not get too high or low during these fun times.

[dumars2001]

Originally Posted by FT35

I think you’re answering a bigger question with your reasoning—which is accurate. 57 did not lose 20% in its value in a couple weeks. The fact that everyone wanted to cash in now and listed their cards all at once kept the bidding from going higher. Prices are dipping due to that supply flood.

We all learned something from this most recent explosion. We learned that people are willing to pay crazy high amounts of $ for high grade early Fleer Jordan’s. How high? That might vary between the uniqueness of every closing bid moment. Now that we know what people are willing to pay, we may not ever see December pricing again.

I’m not a future teller! But here’s my hot take: The people listing for sale now likely owned at pre-December pricing and stood to gain a TON if selling. These will all switch hands now and for the people buying at today’s prices, it would have to raise a ton from here for them to sell. It will either raise a ton and they will sell, OR it will not, and they will hold—keeping all these recently sold Jordan’s OFF the supply chain—raising the demand for what’s left. If either scenario happens, you’ll see another increase in the future.

Very well said and great insight. Thanks for your post.

[Shan95]

Originally Posted by dumars2001

Another thing to keep in my mind about this whole card explosion is here we all are talking about these cards and the prices they are fetching, when it is easy to forget the suffering that the vast majority of the world's population is/has (been) going through right now. Let's all keep this in perspective and enjoy the ride for the fun and excitement it brings to us. Like Denzel Washington says, " You can't take it with you." We all love the hobby, so let's all put things in perspective and realize how lucky we all are! I want to change Allen Iverson's famous practice rant but instead of saying "We are talking about practice," change it to "We are talking about cards." I hope everyone counts their blessings everyday, feels happy/healthy and just enjoys the ride and not get too high or low during these fun times.

Definitely good to get a sense of actual reality, well said


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[jnmcards]

This may have been mentioned before, but has anyone noticed that almost in parallel with the Jordan rookie explosion, some of his rare/sought after inserts have started dropping in price? Nothing substantial, but I think it is interesting that the gains aren't being seen across the board.

[kefskala]

Originally Posted by jnmcards

This may have been mentioned before, but has anyone noticed that almost in parallel with the Jordan rookie explosion, some of his rare/sought after inserts have started dropping in price? Nothing substantial, but I think it is interesting that the gains aren't being seen across the board.

if anything I think it is the total opposite..His 1994 finest refractor psa 10 has exploded...dunk and go nuts psa 10 sold for 13k yesterday and on and on..but according to some this isnt demand but there are evil minds controlling all this pumping across the broad spectrum of card collecting..it is even spilled over to marvels these guys will stop at nothing.... 1986 psa 10 fleer commons are over 1000.00 each...this is the one thing I hope crashes first so I can finish my set...

[bryan2points]

Poll: https://twitter.com/RickProbstein/st...16744133074944

[airharrison21]

Originally Posted by dumars2001

I won't even pretend to lie that I wasn't giddy watching my card (bgs 7.5) go up in value everyday but I knew (because of the attention this card was getting and the vast amounts of this card out there) it was impossible for it to continue it's blazing climb and here we are today, seeing it start its descent back down, hopefully not too far, but at the end of the day, if you own this card and bought pre-explosion (like me) you have already made out like a bandit, so no complaining from me about the card going down but if you just bought one recently at the prices we were seeing, I would be a little upset/concerned. We are also now seeing the Jordan sticker taking off on its meteoric ride up (right now). They are all over eBay for sale right now. Mark my words on that sticker, it will follow its big brother (57) and maybe continue to go up in the next few days but it will follow suit and come back down to earth in the distant future, because the market is absolutely flooded with them now! Once again, just my humble 2 cents.

You really think the sticker is going to continue to climb? I feel like it has to be close to its peak.

[Slvnumber2]

Originally Posted by Hellcat

^^^Agree to a certain degree but you can’t vere too far from the GOATs you will get burned.

Don’t disagree at all with Jordan’s and that is the number one card in basketball if not all of collecting (maybe outside Mantle) to invest and put your money in. I know I am into his stuff for over 6 figures and benefit greatly by his popularity and price increases. I also think it is disingenuous how some people pump and hype his stuff and others for their personal gain, and while his stuff should go up exponentially what we are seeing right now is not normal nor natural.

Basketball collectors who are new to this think only hoops cards matter and that other sports are inferior and don’t matter in collecting. Look at the above comments and talk about arrogance and ignorance. Without baseball cards there would not be a hobby or shows or the National. NBA numbers are not looking good and many of their stars are not liked by the mainstream - Lebron and Durant are not liked, neither is Steph or Kyrie and TV #’s are not good. Young guys like Trae and Zion are nit going to carry the league Luka if he can win some titles has some promise. Bird and Magic gave it a nice injection of excitement and then Jordan and Kobe and now LBJ. They better hope someone replaces him or numbers will not be good.

[GeechQuest]

Originally Posted by jnmcards

This may have been mentioned before, but has anyone noticed that almost in parallel with the Jordan rookie explosion, some of his rare/sought after inserts have started dropping in price? Nothing substantial, but I think it is interesting that the gains aren't being seen across the board.

Last time his rare/sought after inserts and parallels hit the market (Mile High Auction) they all set record prices.

[Willikn]

Originally Posted by jnmcards

This may have been mentioned before, but has anyone noticed that almost in parallel with the Jordan rookie explosion, some of his rare/sought after inserts have started dropping in price? Nothing substantial, but I think it is interesting that the gains aren't being seen across the board.

You have examples of this?

I've quite a few I've been hoping to see comps on but none for sale or sold in well over a month. Only thing being listed right now on the regular are his base cards in PSA slabs.

[Slvnumber2]

Originally Posted by KB81

This right here



Not 100% sure about paying a fee but I totally get the point you are trying to make.



To own a 2000 Playoff Contenders Tom Brady, 52 Topps Mantle or 1979-80 O-Pee-Chee Wayne Gretzky is a wet dream for most and rightfully so. You will own a piece of history. MJ 57 is that card to many.



There will be highs and lows - especially now in todays day and age with social media, pumpers and flippers but one thing remains constant above all... MJ is a GOAT and is respected by many. 57 will be a 1M card eventually but even if it drops to 20K for a PSA 10, which will never happen, those that have one and value MJ will always be happy regardless of price.

I like to collect what I think are great cards no matter what the player or sport. Prefer baseball and when I do basketball Jordan is #1 followed by Bird/Magic. At the end of the day collect what you like and enjoy looking at, and if it happens to go way up in value that is a bonus.


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[KB81]

Exactly

[kefskala]

I like to collect what I think are great cards no matter what the player or sport. Prefer baseball and when I do basketball Jordan is #1 followed by Bird/Magic. At the end of the day collect what you like and enjoy looking at, and if it happens to go way up in value that is a bonus.


Sent from my iPad using Tapatalk[/QUOTE]

first honest and logical post from you...nice cards..I have the whole 1915 cracker jack set...will post pics here but I know basketball forum....of course baseball has been around from the late 1800's and kick started the whole card collecting craze..I have plenty of allen ginter, old judge and mayo, .but as time changes the way of collecting changes. Go back three years at the history of any auction house and baseball will have the top 10 highest items...Not the current case now...

[Brent72]

Originally Posted by jnmcards

This may have been mentioned before, but has anyone noticed that almost in parallel with the Jordan rookie explosion, some of his rare/sought after inserts have started dropping in price? Nothing substantial, but I think it is interesting that the gains aren't being seen across the board.

I haven't followed any of his inserts, but I've noticed his Star cards keep rising by the minute. The prices on some of those are truly mind-blowing right now compared to what they were just a few weeks ago.

[MattMiller]

Jordan star 101 is best kept secret, but not for long... My money is on that card

[Brent72]

Originally Posted by MattMiller

Jordan star 101 is best kept secret, but not for long... My money is on that card

Well, it's not much of a secret anymore. Lol. In the other thread someone is willing to pay $25k for a BGS 6. I remember seeing those on eBay last summer for around $3k!

[Gridiron Bob]

Why do I have a feeling that all this activity is "bored money" and they don't know what they are doing?

[kefskala]

Originally Posted by GeechQuest

Counterpoint:

If you owned a PSA 10 #57 why wouldn't you sell yours (assuming you didn't buy it recently it would be a hefty gain) to help "flood" the market. You would depress pricing and could buy it back later for less and pocket the difference?

It would be financially prudent to sell, realize gains, depress the price, and re-buy if you believe in the upward trajectory. Why wouldn't people who have gotten to where they are in their life by being financially responsible, all of the sudden be financially irresponsible when it comes to cards? It makes no logical sense.

Part two to your answer, couldn't elaborate at work: So your theory lets apply it. Sale-(tax Liability)=repurchase. so lets plug numbers in. if you sale your card for 500K, depending on your tax bracket i will use 30% to the gov. Yes you can deduct what you paid but I would think 80% are vested into the card under 20k. So tax Liability will be 150k. you will need the card to drop to this level of about 300k to say "HEY look how smart I was".....so there is your financial prudence, people rather sit on the card....and i hope this make a little sense....

[JWBlue]

Originally Posted by kefskala

Part two to your answer, couldn't elaborate at work: So your theory lets apply it. Sale-(tax Liability)=repurchase. so lets plug numbers in. if you sale your card for 500K, depending on your tax bracket i will use 30% to the gov. Yes you can deduct what you paid but I would think 80% are vested into the card under 20k. So tax Liability will be 150k..

Isn't capital gains tax 15%?

[dumars2001]

Originally Posted by airharrison21

You really think the sticker is going to continue to climb? I feel like it has to be close to its peak.

Yeah, after thinking about it and the sheer amount of stickers for sale right now on ebay, i have to agree with you!

[dumars2001]

I kind of feel that some card collectors are getting/feeling a little fatigued by the whole Jordan card mania. At least I am, but maybe that is because I am from Michigan and I used to have a deep hatred towards MJ and the Bulls!

[Justin7]

Originally Posted by JWBlue

Isn't capital gains tax 15%?

sadly the way most of us do this we have to run it as a busines and pay high taxes (but not CA taxes glad I don't live there)