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

[dumars2001]

Originally Posted by FT35

Agree. The perfect storm created the run up of these and the result was a market flood like we’ve never seen. In other words, this would be a perfect storm in BUYING terms.

Psychologically, people saw the run up, and played that game in their heads that we all do sometimes...”what would I do with the $?” They mulled it over, decided to sell, then the prices came down. That dream is still in their heads! And they are panic selling MICHAEL JORDAN just to salvage a used Camry because they came up short on their Ferrari dream. It’s a rare time indeed, but the pendulum doesn’t stay on this end long.

To those who are selling...stay firm in the “good reasons to sell” practice. For years, you held these with the “only if I need money” mindset. Don’t be fooled into thinking “missed out on my early retirement,” is the same as “need money.” Sell on the cheap if you want or need to, but not if you’re just annoyed.

To the buyers...if sellers continue to panic sell—even if they are just trying to salvage some $ on their JORDANS, go get em! Capitalize on others’ need to maintain pride.

Wow! Post of the year!!! On the money with your words of wisdom!!

[agsstructures]

Originally Posted by FT35

Agree. The perfect storm created the run up of these and the result was a market flood like we’ve never seen. In other words, this would be a perfect storm in BUYING terms.

Psychologically, people saw the run up, and played that game in their heads that we all do sometimes...”what would I do with the $?” They mulled it over, decided to sell, then the prices came down. That dream is still in their heads! And they are panic selling MICHAEL JORDAN just to salvage a used Camry because they came up short on their Ferrari dream. It’s a rare time indeed, but the pendulum doesn’t stay on this end long.

To those who are selling...stay firm in the “good reasons to sell” practice. For years, you held these with the “only if I need money” mindset. Don’t be fooled into thinking “missed out on my early retirement,” is the same as “need money.” Sell on the cheap if you want or need to, but not if you’re just annoyed.

To the buyers...if sellers continue to panic sell—even if they are just trying to salvage some $ on their JORDANS, go get em! Capitalize on others’ need to maintain pride.

Nice summary and i'm buying em up! in fact, i'm consolidating other stuff so i can buy more JORDAN!!!

[GOATcards]

To those speaking of panic-buying () at $7500, just make note that this is 2.5x of the previous, pre-covid-lockdown floor of around $3K. Go to the chart at the bottom of the page and click in the upper right for a full screen view (and keep in mind that nearly half of the graph is only 1 year of price movement, it was huge from an already large base):
https://www.psacard.com/auctionprice...ues/299576#g=8

[FT35]

Originally Posted by GOATcards

To those speaking of panic-buying () at $7500, just make note that this is 2.5x of the previous, pre-covid-lockdown floor of around $3K. Go to the chart at the bottom of the page and click in the upper right for a full screen view (and keep in mind that nearly half of the graph is only 1 year of price movement, it was huge from an already large base):
https://www.psacard.com/auctionprice...ues/299576#g=8

All true info. However, is anything in the world the way it was pre-COVID?

I guess what I’m saying is...when things get “back to normal,” are we saying that the hobby and all things society will return to December 2019? Or somewhere between? Maybe a new norm altogether? Who knows...what we DO know is that we live and operate in a much different world now than pre-COVID.

[hauntedcomputer]

Whole lot of anchoring, recency bias, endowment effect, and confirmation bias going on in this thread.

[GOATcards]

Originally Posted by FT35

All true info. However, is anything in the world the way it was pre-COVID?

I guess what I’m saying is...when things get “back to normal,” are we saying that the hobby and all things society will return to December 2019? Or somewhere between? Maybe a new norm altogether? Who knows...what we DO know is that we live and operate in a much different world now than pre-COVID.

I'd expect prices to be well above previous floors (all else being equal ofc). I'm 'predicting' $7500 for 8s as the new floor. According to the chart that's about a 40% drop from the current market which would hardly be surprising given the recent price movements.

It seems really low compared to a brief spike near the $30K level, it means a 75% drop from that, but that was like, what, half a dozen sales over all of a week or so?

[GOATcards]

Originally Posted by hauntedcomputer

Whole lot of anchoring, recency bias, endowment effect, and confirmation bias going on in this thread.

It's like bubbles and busts occur a lot from the frailties of human psychology or something...

[FT35]

Originally Posted by GOATcards

I'd expect prices to be well above previous floors (all else being equal ofc). I'm 'predicting' $7500 for 8s as the new floor. According to the chart that's about a 40% drop from the current market which would hardly be surprising given the recent price movements.

It seems really low compared to a brief spike near the $30K level, it means a 75% drop from that, but that was like, what, half a dozen sales over all of a week or so?

Nice! Where would you predict 9’s to be? I think there would be a lot of buyers at $7500 for 8’s...possibly enough to drive prices up from that point as sales complete if we got that low.


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[GOATcards]

Originally Posted by FT35

Nice! Where would you predict 9’s to be? I think there would be a lot of buyers at $7500 for 8’s...possibly enough to drive prices up from that point as sales complete if we got that low.


Sent from my iPhone using Tapatalk

9s would be around 3x of the 8s and 10s around 9-10x of the 9s. Just guessing.

[GOATcards]

In my case I sold my #57 9 just a couple weeks before the outright peak phase and then turned right around and bought a 87F Sticker (massively underrated card ) pretty much right at its peak, for PC purposes. Impatience and not trying to outsmart the market. Those have taken a 40% or so dive since then in the 8.5 grade (and over 60% in the 9 grade, which isn't enough because I want to get a 9 ).

[FT35]

Originally Posted by hauntedcomputer

Whole lot of anchoring, recency bias, endowment effect, and confirmation bias going on in this thread.

Funny how it took new buzz word terms for people to understand how people have been thinking for centuries. The common terms we have used all these years just didn’t connect things for some!

[sportsyard]

Originally Posted by GOATcards

I'd expect prices to be well above previous floors (all else being equal ofc). I'm 'predicting' $7500 for 8s as the new floor. According to the chart that's about a 40% drop from the current market which would hardly be surprising given the recent price movements.

It seems really low compared to a brief spike near the $30K level, it means a 75% drop from that, but that was like, what, half a dozen sales over all of a week or so?

of course the floor is now higher, no different then bit coin, it spiked, then dropped to a new floor, then spiked again... Jordan RC's spiked, have dropped to a new floor, then will move up again when the world realizes how scare the 10's truly are and investors that don't need to liquidate them on short terms fluctuations lock them in vaults for 20 years. The 9's and 8's have nothing but upside given the low pop's of 10's. No different for the sticker or the Nike rc.

[Slvnumber2]

Originally Posted by GOATcards

9s would be around 3x of the 8s and 10s around 9-10x of the 9s. Just guessing.

I think this is correct and where I would out them price wise. The pump and dump scheme for Jordan 10’s of 2021 was dome with the help of several members of this board along with the Goldin auction and his investors “paying” record prices not once but twice at $738k on two separate auctions on the same day. Nothing strange there right. High demand card with large number of 10’s goes for same absurdly high record price not once but twice at the same exact $738k price. Previous high was $200-300k range, so we bypassed the $400k, $500k, and $600k levels to go to $700k+.

It was easy to see what was going on and who was participating. Investing group who infuses $40 million into auction house sees one of their own members pay $738k for a card that had never sold over $350k. This board saw several members cheering and pumping every price increase promoting this auction, and those folks went silent afterwards as well as nonexistent after the huge drop in prices. “8’s will hit $48k and when do 10’s cross a million.” 9’s are now selling in the high $30’s and low $40k range and 10’s have plummeted and are down $200-250k from their highs two months ago.

Only good thing people collectors hopefully learned from this, and like Warren Buffett says when others are greedy be fearful and when others are fearful be greedy. Find the best PSA 8 that is centered with eye appeal in the $7-10k range or 9 in the $25-30k range and you will do well with a Jordan rookie.

[kooky4cards]

Just my personal prediction:
Within 5 years, this card in PSA 8 slabs will be selling in the $3K-$4k range. The nicest of the PSA 9's will be in the $10K-$12K range.

[Hellcat]

Originally Posted by kooky4cards

Just my personal prediction:
Within 5 years, this card in PSA 8 slabs will be selling in the $3K-$4k range. The nicest of the PSA 9's will be in the $10K-$12K range.

Man you’re dreaming new floor has been set. I’m guessing you don’t have a nicer specimen and are hoping for a major drop in prices. You should have got in sooner.

[KhalDrogo]

Originally Posted by Slvnumber2

I think this is correct and where I would out them price wise. The pump and dump scheme for Jordan 10’s of 2021 was dome with the help of several members of this board along with the Goldin auction and his investors “paying” record prices not once but twice at $738k on two separate auctions on the same day. Nothing strange there right. High demand card with large number of 10’s goes for same absurdly high record price not once but twice at the same exact $738k price. Previous high was $200-300k range, so we bypassed the $400k, $500k, and $600k levels to go to $700k+.

It was easy to see what was going on and who was participating. Investing group who infuses $40 million into auction house sees one of their own members pay $738k for a card that had never sold over $350k. This board saw several members cheering and pumping every price increase promoting this auction, and those folks went silent afterwards as well as nonexistent after the huge drop in prices. “8’s will hit $48k and when do 10’s cross a million.” 9’s are now selling in the high $30’s and low $40k range and 10’s have plummeted and are down $200-250k from their highs two months ago.

Only good thing people collectors hopefully learned from this, and like Warren Buffett says when others are greedy be fearful and when others are fearful be greedy. Find the best PSA 8 that is centered with eye appeal in the $7-10k range or 9 in the $25-30k range and you will do well with a Jordan rookie.

Despite all of this, the only people it matters for are those small handful who bought above the current price of ~$450k. And even then, it only matters if they sell right now.

People love quoting falls from peaks. But the peak is irrelevant except for those who bought at it.

[Slvnumber2]

Originally Posted by KhalDrogo

Despite all of this, the only people it matters for are those small handful who bought above the current price of ~$450k. And even then, it only matters if they sell right now.

People love quoting falls from peaks. But the peak is irrelevant except for those who bought at it.

Not interested in quoting falling from peaks - just stating facts as they exist. When people were pumping this card back in late January and February a lot of people were gullible and bought 8’s at $25k+ and 9’s at $75k+. It is not just the buyers at $600k+ in 10’s that got burned - there were a lot more buyers and dollars at PSA 8 and 9 that bought way too high following bad advice on here and social media. Some was bad advice and some was just flat out carnival barking with people trying to find some suckers so they could unload Jordan’s during a frenzy they created.

[kooky4cards]

Originally Posted by Hellcat

Man you’re dreaming new floor has been set. I’m guessing you don’t have a nicer specimen and are hoping for a major drop in prices. You should have got in sooner.

Specimen? Now that's some Brent Mastro lingo right there

Dreaming? Nahhh, just speculating that's all.

[KhalDrogo]

Originally Posted by Slvnumber2

Not interested in quoting falling from peaks - just stating facts as they exist. When people were pumping this card back in late January and February a lot of people were gullible and bought 8’s at $25k+ and 9’s at $75k+. It is not just the buyers at $600k+ in 10’s that got burned - there were a lot more buyers and dollars at PSA 8 and 9 that bought way too high following bad advice on here and social media. Some was bad advice and some was just flat out carnival barking with people trying to find some suckers so they could unload Jordan’s during a frenzy they created.

That should have been fairly obvious to everyone. We didn’t need an hour by hour update on what a PSA 8 was selling for.

I was looking at 8s when they were around $8k. I would be interested again there.

[stevebay]

Question...which option would you prefer for long term investment:

1) PSA 8 Jordan RC
2) PSA 8 1986 Fleer Wax Pack (Lot of 2 packs)

Both are roughy the same ballpark in price now.

[FT35]

Originally Posted by Slvnumber2

Not interested in quoting falling from peaks - just stating facts as they exist. When people were pumping this card back in late January and February a lot of people were gullible and bought 8’s at $25k+ and 9’s at $75k+. It is not just the buyers at $600k+ in 10’s that got burned - there were a lot more buyers and dollars at PSA 8 and 9 that bought way too high following bad advice on here and social media. Some was bad advice and some was just flat out carnival barking with people trying to find some suckers so they could unload Jordan’s during a frenzy they created.

Honestly, I’d say the same thing about his cards if they weren’t worth anything. He’s the GOAT GOAT. There’s nothing but positives here. What I don’t like is when saying positive things about the greatest of our time and his cards constitutes as pumping or giving bad advice. People can pay what they want. I’m going to still get excited about Michael Jordan cards—and hop in wherever the convo is.

[Snakeonia]

Originally Posted by kooky4cards

Just my personal prediction:
Within 5 years, this card in PSA 8 slabs will be selling in the $3K-$4k range. The nicest of the PSA 9's will be in the $10K-$12K range.

PSA 8s were 3-4k in April of last year. Dont even think they keep up with a devaluing dollar/inflation? Could happen I suppose but feels unlikely.


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[oldschoolball]

REA Auctions just closed last night with a 1986 Fleer 57 Jordan RC (PSA 9) dipping below $35K

https://bid.robertedwardauctions.com...e?itemid=76634

Sold for $33,600

It's been awhile since it hit this low.

[Hellcat]

Not a centered copy they will always bring less.

[Slvnumber2]

Originally Posted by FT35

Honestly, I’d say the same thing about his cards if they weren’t worth anything. He’s the GOAT GOAT. There’s nothing but positives here. What I don’t like is when saying positive things about the greatest of our time and his cards constitutes as pumping or giving bad advice. People can pay what they want. I’m going to still get excited about Michael Jordan cards—and hop in wherever the convo is.

Agree - he is the GOAT and that is not disputed. Saying positive things about a player - no issues with that from anyone either. Free country, free speech, people excited about cards - all part of the hobby. People on here, YouTube, social media creating false pricing and demand so they can sell to marks and suckers I disagree with. Making price claims that are not correct, shill bidding, fake sales, sales not paid for... does anyone agree with these things?