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

[jcardstore]

Originally Posted by GOATcards

On a likely related note, I have a close friend who "follows" (researches) closely a number of IG and youtube influencers (some well-known and others not so much so) and just in the last few months at least a couple have been exposed - Bilzerian rather notoriously, and more recently this Dan Pena guy ("coach of billionaires to be" kind of genre, adopts something of a Drill Sergeant approach, but now I doubt he has so much as the personality to be a billionaire). And now even Wes Watson (motivational 'guru' some years removed from the penitentiary) is getting a similar treatment? (He strikes me more as the real deal, though, although my close friend isn't so sure now. Not many influencers out there quoting Marcus Aurelius with all apparent sincerity...) edit: anyway, it got me asking my friend half-sarcastically if there were any influencers who aren't frauds. :-/

Yo these influencers, gurus, life coaches, billionaire investors that started with $100 are all straight up FRAUDS.

These people are con men.

As for influencers go, Gary V is fine he seems like a genuinely good dude and I don't see him as a straight up fraud. He tries to play it off like he had some poverty stricken life and had to do it all himself when in reality his dad gave him a million dollar wine business but he's still obviously a hard working and super intelligent guy that I think people can and should look up to.

Take a guy like Sasha too, I guess you could consider him an "influencer" but he's not fake, at least doesn't seem that way.

It's so easy to spot a fake. The type that constantly brags about how big of a baller they are. The ones posting Paypal balance images of like 10k doing photoshoots with rented cars etc... Telling you about some get rich quick scheme

[moosetequila]

Originally Posted by asujbl

You aren’t down big until you sell.

Actually sitting on dead money is still a loss.

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[Spartyon]

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

Another brand new user posting about a crash. Hmmmmm


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[ACCDADEAL]

been buying and selling 25 years and have 3 cards that would cover all my losses but I have easily recouped most of my debts already, thats what I do sell everything but the cream you hit, or buy what you really want. These will settle down and then be back up some in a year or less. Always happens.

Buy what you like it is never a loss that way

[rainmaker]

Originally Posted by pejc300

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.

Yep truth well said

[cowboyzqna]

If I had to guess I'm up 5x to 7x with what all I've purchased in the last calendar year.


I am working on a "house of cards" project where I plan to have a mass sale in late 2023 to buy a nicer house.


You can collect and invest at the same time. I'll spend money on kobe cards that I know I'll lose money on and be fine with it because I really like them. But I cant just throw away large sums of money so I try to counter balance those small purchases with what I'm investing in. (Lebron and zion rookies)

[Springerj23]

Another thing not being mentioned is those folks that were keen eyed and buying raw and grading. Granted that is pretty much on hold currently. But, that model is quite profitable.

[Brobocop]

People probably bought these cards on credit too which just magnifies the issue. You’re sitting on a asset that has seen severe drops in market value while paying high interest credit card balances. Rock and a hard place. Just goes to show that you shouldn’t be putting money into things like this unless you can afford to lose the whole thing.

[cowboyzqna]

Originally Posted by Springerj23

Another thing not being mentioned is those folks that were keen eyed and buying raw and grading. Granted that is pretty much on hold currently. But, that model is quite profitable.

That is the most important part of my plan.


Buy raw cards that psa 9s sell for 3x what raw ones do. Try to get sharp copies so a 10 is something lone 15x.


I bought a lebron skys the limit rc for $100. Spent $20 to grade. It dimed and sold for 1500ish on ebay.


Will buy two or 3 more sharp raw copies of that same card.


Edit... I should mention I spend hours and hours finding the "right" copies of these cards. It's not without work. And sometimes the scans dont tell the whole truth of the card. So it isnt just buy and profit.

[1980bust]

Originally Posted by pejc300

Right now bass prism is in the dumps.

Where it should be.

[Dame]

You think it’s bad now, give this a few more months. People will re-evaluate the importance of having free cash on hand and/or less debt as the country full reopens.

Few have financially navigated the market very well and the losses will keep piling up IMO.

[Steve88]

Sold a lot of base cards I bought before the spike and moved them to Lebron rookies a few months ago. I’m down almost 50% on most of the Lebron Rookies I bought but I also bought them from bass Prizm profits so I guess that puts me at even?

Obviously most of the high pop speculative rookie cards will never see their peaks again but what about high pop Lebron/Kobe rookie cards like TC? Would love to hear everyone’s opinion.

I’m actually looking forward to this correction as most cards are much more affordable now. I bought a Lebron Topps raw for 300 this week. Great buying opportunity.


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[sportscardpete]

Most of my collection is vintage and that has definitely softened - but not as bad as some of the spec modern stuff. A couple of Jordan refractors I am down on (bought in February), but my goudey ruths and cobbs have been fine. granted, they are probably up like 25% over two years, so a little more sleepy than the basketball stuff.

I have been aggressive though on any MJ card that is down, especially this month

[tyrith]

Originally Posted by Dame

You think it’s bad now, give this a few more months. People will re-evaluate the importance of having free cash on hand and/or less debt as the country full reopens.

I will say that while I think reopening has a lot to play in it, the concept of the average American discovering financial intelligence still seems jarringly unlikely.

[ExpFacilitators]

Originally Posted by Brobocop

People probably bought these cards on credit too which just magnifies the issue. You’re sitting on a asset that has seen severe drops in market value while paying high interest credit card balances. Rock and a hard place. Just goes to show that you shouldn’t be putting money into things like this unless you can afford to lose the whole thing.

This is the part that makes me sad and angry in equal parts. It's depressing watching people buying into cards/breaks who clearly cannot afford it in exactly the same way I've watched hundreds of people lose everything they had in a casino. If we were honest about the distribution of outcomes, fewer people would be swayed.

[Dame]

Originally Posted by tyrith

I will say that while I think reopening has a lot to play in it, the concept of the average American discovering financial intelligence still seems jarringly unlikely.

Haha, yes. Walking the tightrope of financial stress has been a widespread affliction.

[Ray27Ray52]

Is there some kind of inside joke I'm missing when everyone says "bass" prizm or is an example of autocorrect going rogue for multiple people?

[tjforce]

Originally Posted by Ray27Ray52

Is there some kind of inside joke I'm missing when everyone says "bass" prizm or is an example of autocorrect going rogue for multiple people?

Just a running joke of people misspellings "Base" as "Bass".

[YayNJ]

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

In the words of Sid Vicious -

"ever get the feeling like you've been cheated?"

[Kobe101]

Originally Posted by colbycolbycolby

I'm guilty of overpaying for various Lebron and Kobe SLAM Holos. I thought they'd be SP, but it's not looking like that. I've said it a few times in the basketball section but some Lewis Hamilton cards I bought in Jan/Feb are doing awesome. Like, really really good. Helps with the basketball hit so far this year.

You should probably sell them soon unless they are really rare...I am starting to hear a lot of people talking about F1. Which most likely means the people who bought in early are selling them.

The Netflix doc is pretty cool I just started it. However, no one ever cared about F1 and now it is the hottest thing I am pretty confident that won’t last.

[Kobe101]

Originally Posted by jcardstore

Yo these influencers, gurus, life coaches, billionaire investors that started with $100 are all straight up FRAUDS.

These people are con men.

As for influencers go, Gary V is fine he seems like a genuinely good dude and I don't see him as a straight up fraud. He tries to play it off like he had some poverty stricken life and had to do it all himself when in reality his dad gave him a million dollar wine business but he's still obviously a hard working and super intelligent guy that I think people can and should look up to.

Take a guy like Sasha too, I guess you could consider him an "influencer" but he's not fake, at least doesn't seem that way.

It's so easy to spot a fake. The type that constantly brags about how big of a baller they are. The ones posting Paypal balance images of like 10k doing photoshoots with rented cars etc... Telling you about some get rich quick scheme

Check out Coffeezilla on YouTube. He calls out these fake gurus and a lot of the videos are hilarious!

[jkampis]

Originally Posted by indyguy

About a 9 on the tension scale there, Rube.

Oh man, I LOVE the reference. The Burbs is a very underrated gem.

[UCLAboy777]

There is a guy who purchased a PSA 8 gold Topps finest Kobe rookie for over 5000$ earlier this year and he is trying to unload it to others on instagram .... but no takers haha... he had some nice PSA 10 Kobes he purchased pre-covid and he was bragging about them. He sold none of it
It looks like he also purchased psa 10 row 0 Kobe rookie near the peak too... Man, he got crushed, but with some gains of pre-covid, I guess he is still ahead if you dollar cost average?

[RookieAddict]

I bought a lot of big cards and I am not down. Maybe you bought the wrong cards ?

[blackbears86]

Originally Posted by ExpFacilitators

This is the part that makes me sad and angry in equal parts. It's depressing watching people buying into cards/breaks who clearly cannot afford it in exactly the same way I've watched hundreds of people lose everything they had in a casino. If we were honest about the distribution of outcomes, fewer people would be swayed.

I understand what you are saying, and you can equate this to several aspects of everyday life: The real estate boom (and inevitable downturn which we know is coming, cards, gambling, etc...)


You can't give people common sense. People will make irrational decisions, live on credit, etc....


I do not feel sorry for anyone who overextended themselves with this card boom. The writing has been on the wall for several months.



I do however, think people have been caught off guard how quickly the market is correcting, I know I have. I thought it would be more gradual.