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

[patchgenie]

oh well. maybe next year

[MBMiller25]

Originally Posted by pejc300

I've been in the hobby for my whole life. As much as some people in this thread like to say everything is predictable, it's not. I wish Lebron Topps Chrome PSA 10s would "come back down" to $500, like I used to pass on all the time. Thankfully, I have done very, very well in cards as a side hustle/hobby (enough that I could not work for the next several years and be fine).

Having said that, I'll confess I bought into the Kobe hype in February and bought several cards (trying not to make the same mistake I made with Lebron - thinking they'll come back down at some point but never hitting those bottoms again).

I'm down 50% on most of them which cost around, I don' know, maybe 10k total. I'm selling and taking the losses so I can reinvest into other things.

Examples would be Kobe Youthquake Chrome BGS 9. Bought for 3k, auctioning off this week and will probably go for $1200.

2003 Topps Chrome black refractor /500 BGS 9 - paid $2600, just sold for $1700 (after fees).

Lots of other cards like E-x, Topps base, etc.

I have no problems with this. I believe if I hold these cards for the next 5 years they'll go up past what I bought them for, but I'd rather have the money in hand now and reinvest. I should be able to recoup the funds in a few months.

I think everything is cyclical. Right now bass prism is in the dumps. Everyone is saying it was artificial and should never have happened. Guess what...in a few years (no idea when) the narrative will change again and bass prizm will be all the rage again. This happens all the time.

Mark the date and time. There will be a time when Zion bass prizm PSA 10s will be going for a few grand and people will say "remember when you could buy them for $400 and no one wanted them?"

If you have the luxury of holding some stuff, the buying opportunity right now is incredible.

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.

This is spot on! What Gary V, Ken Goldin and others like them have done to bring light to this hobby can not be understated. You don't have to like their methods or even agree with their opinion, but noone can argue they have brought major attention to this hobby and its helped with these insane moves we've seen in card values during the pandemic. I have been collecting cards for over 30 years now, and i would have NEVER bet in a million years cards would be valued what they are today. I was incredibly fortunate (I cant even lie and say I knew this was coming) to own some of the cards I owned at the ridiculous (by today's standards) prices that I owned them for. On top of that, I was cost nuetral on everything I owned already. So these gains have been massive. I have used this period to sell 75% of my items. I paid off my primary home, I bought a second home that was nearly $500K all from card sales. I would never have fathomed that I would sell some cards one month and the following month go buy a second house with cash. I dont care who you are, noone saw that coming. So love or hate the hobby for what its become, I will forever be grateful for what cards have given me, and the financial freedom I have becuase of them. I am down to about 9 cards and a couple unopened boxes that I will eventually sell off as well, but its been an amazing ride! This hobby has always ebb and flowed, and thats been healthy. Where blue chip players are concerned, holding and being patient has always been a wise move finanacially for most.

[itsbaytime]

Originally Posted by indyguy

About a 9 on the tension scale there, Rube.

The burbs!!!!

[KhalDrogo]

Originally Posted by MBMiller25

This is spot on! What Gary V, Ken Goldin and others like them have done to bring light to this hobby can not be understated. You don't have to like their methods or even agree with their opinion, but noone can argue they have brought major attention to this hobby and its helped with these insane moves we've seen in card values during the pandemic. I have been collecting cards for over 30 years now, and i would have NEVER bet in a million years cards would be valued what they are today. I was incredibly fortunate (I cant even lie and say I knew this was coming) to own some of the cards I owned at the ridiculous (by today's standards) prices that I owned them for. On top of that, I was cost nuetral on everything I owned already. So these gains have been massive. I have used this period to sell 75% of my items. I paid off my primary home, I bought a second home that was nearly $500K all from card sales. I would never have fathomed that I would sell some cards one month and the following month go buy a second house with cash. I dont care who you are, noone saw that coming. So love or hate the hobby for what its become, I will forever be grateful for what cards have given me, and the financial freedom I have becuase of them. I am down to about 9 cards and a couple unopened boxes that I will eventually sell off as well, but its been an amazing ride! This hobby has always ebb and flowed, and thats been healthy. Where blue chip players are concerned, holding and being patient has always been a wise move finanacially for most.

Congrats on the success Matt!

[blackbears86]

Originally Posted by MBMiller25

This is spot on! What Gary V, Ken Goldin and others like them have done to bring light to this hobby can not be understated. You don't have to like their methods or even agree with their opinion, but noone can argue they have brought major attention to this hobby and its helped with these insane moves we've seen in card values during the pandemic. I have been collecting cards for over 30 years now, and i would have NEVER bet in a million years cards would be valued what they are today. I was incredibly fortunate (I cant even lie and say I knew this was coming) to own some of the cards I owned at the ridiculous (by today's standards) prices that I owned them for. On top of that, I was cost nuetral on everything I owned already. So these gains have been massive. I have used this period to sell 75% of my items. I paid off my primary home, I bought a second home that was nearly $500K all from card sales. I would never have fathomed that I would sell some cards one month and the following month go buy a second house with cash. I dont care who you are, noone saw that coming. So love or hate the hobby for what its become, I will forever be grateful for what cards have given me, and the financial freedom I have becuase of them. I am down to about 9 cards and a couple unopened boxes that I will eventually sell off as well, but its been an amazing ride! This hobby has always ebb and flowed, and thats been healthy. Where blue chip players are concerned, holding and being patient has always been a wise move finanacially for most.

congrats Matt!


So many times over the last year I was close to selling everything but a few unopened boxes and about 20 cards. Never did.


Congrats on having the balls to sell at just the right time.

[MBMiller25]

Originally Posted by blackbears86

congrats Matt!


So many times over the last year I was close to selling everything but a few unopened boxes and about 20 cards. Never did.


Congrats on having the balls to sell at just the right time.

It’s hard to sell.... And know I won’t ever these cards again. These cards represent memories I have and have had in cards. Some of the cards I am still holding I hold because I can’t move beyond the memory I have associated with the card. At the end of the day though, I can’t take them with me, and the financial benefit not only to myself and fiancé but our five children and what we have done for them was the driving force.

Thank you guys! 🙏

[blackbears86]

Originally Posted by MBMiller25

It’s hard to sell.... And know I won’t ever these cards again. These cards represent memories I have and have had in cards. Some of the cards I am still holding I hold because I can’t move beyond the memory I have associated with the card. At the end of the day though, I can’t take them with me, and the financial benefit not only to myself and fiancé but our five children and what we have done for them was the driving force.

Thank you guys! 🙏

I couldn't agree more.

We paid off our house last year and the feeling when you lay your head on the pillow at night is really satisfying.


Congrats again on securing your family's financial future.

[UCLAboy777]

Originally Posted by MBMiller25

This is spot on! What Gary V, Ken Goldin and others like them have done to bring light to this hobby can not be understated. You don't have to like their methods or even agree with their opinion, but noone can argue they have brought major attention to this hobby and its helped with these insane moves we've seen in card values during the pandemic. I have been collecting cards for over 30 years now, and i would have NEVER bet in a million years cards would be valued what they are today. I was incredibly fortunate (I cant even lie and say I knew this was coming) to own some of the cards I owned at the ridiculous (by today's standards) prices that I owned them for. On top of that, I was cost nuetral on everything I owned already. So these gains have been massive. I have used this period to sell 75% of my items. I paid off my primary home, I bought a second home that was nearly $500K all from card sales. I would never have fathomed that I would sell some cards one month and the following month go buy a second house with cash. I dont care who you are, noone saw that coming. So love or hate the hobby for what its become, I will forever be grateful for what cards have given me, and the financial freedom I have becuase of them. I am down to about 9 cards and a couple unopened boxes that I will eventually sell off as well, but its been an amazing ride! This hobby has always ebb and flowed, and thats been healthy. Where blue chip players are concerned, holding and being patient has always been a wise move finanacially for most.

Good for you! What happened to you is equivalent to buying bitcoins in 2010 and selling them high in 2017...
now we have new bag holders like myself who are hoping for a second wave . Bitcoin did eventually have another bull run in 2021 that passed ATH of 2017 by a wide margin... anyways Those who bought bitcoin at 60K and up this year better hope for another jump lol

but then again some people who sold their bitcoins at 20-25k this year during the early spike are regretting, even though they got some profits. Will you end up regretting in a few years if ATH for sports cards pass this year's peak? You could have bought a house for your kids too then.... we will see

Another Pump and Dump better happen. I am ready to sell this time hehe

[yiguiri2002]

Originally Posted by MBMiller25

It’s hard to sell.... And know I won’t ever these cards again. These cards represent memories I have and have had in cards. Some of the cards I am still holding I hold because I can’t move beyond the memory I have associated with the card. At the end of the day though, I can’t take them with me, and the financial benefit not only to myself and fiancé but our five children and what we have done for them was the driving force.

Thank you guys! 🙏

As awesome as cards can be, family comes first. You made the right decision and killed it. This is the kind of good feel story that I love about the hobby. Congrats!

Also, 5 kids and not married? Man, you gotta share your knowledge. I don't think my girlfriend would even go for 1 before a ring in her hand.

[MBMiller25]

Originally Posted by yiguiri2002

As awesome as cards can be, family comes first. You made the right decision and killed it. This is the kind of good feel story that I love about the hobby. Congrats!

Also, 5 kids and not married? Man, you gotta share your knowledge. I don't think my girlfriend would even go for 1 before a ring in her hand.

Divorce sucks man! That’s how you end up with five kids. Five teenagers means we get married when the kiddos get off to college as it’s too hard to bring them all together at this age and we make decisions based around what’s best for our children. The second house in this story becomes the primary house when we marry and my primary home becomes a rental property bringing us passive income. Right now it’s reversed.

And Torrance.... I used to be the VP of Pelican Products in Torrance. I have spent a TON of days living out of the Portofino Hotel in Redondo. Good Memories.

[hauntedcomputer]

Originally Posted by 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)

Wow. There's a decent chance the market will be down to half or less of what it is now in 2023. I'd say a very good chance. And you're betting a house that cards continue to have nowhere to go but up (even lebron and Zion rookies).

I wish you luck but "investors" should've sold in the past year, not bought.

it looks to me like the market is stratifying--rich guys keep setting record prices for rare stuff while the working stiffs eat huge losses.

[Spartyon]

Does anybody take into consideration seasonality anymore? Football isn’t down like basketball is, at least not the football I’m looking at


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[tjforce]

Originally Posted by Spartyon

Does anybody take into consideration seasonality anymore? Football isn’t down like basketball is, at least not the football I’m looking at


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For a lot of people, this is their first rodeo with a pullback like this.

To add fuel to the fire, a lot of those people new to this were probably invested in some of the stuff that's taken the biggest hit.... someone had to be.

But you are right, while football has shown some cracks, it's nowhere near what basketball has seen, and is tracking a normal seasonality.

The biggest pullback in football is probably Brady Bowman Chrome, but even that has a story that isn't so bad.

On Jan 2nd a PSA 10 Brady BC sold for $8k. After the Super Bowl win, 3 sales went for over $20k. Most recent sales have been around $18k.

That card has performed fantastic for anyone other than those who bought it at peak hype, right after the Super Bowl.

[mc1]

Originally Posted by Spartyon

Does anybody take into consideration seasonality anymore? Football isn’t down like basketball is, at least not the football I’m looking at


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Football has been hot due to the potential of the 3 QBs from the 2020 class.

Some of the new money may also be football-only. They might not dabble in basketball.

I never thought id see the day Prizm FB Hobby was priced similarly to BKB.

[sebreg]

Originally Posted by hauntedcomputer

Wow. There's a decent chance the market will be down to half or less of what it is now in 2023. I'd say a very good chance. And you're betting a house that cards continue to have nowhere to go but up (even lebron and Zion rookies).

I wish you luck but "investors" should've sold in the past year, not bought.

it looks to me like the market is stratifying--rich guys keep setting record prices for rare stuff while the working stiffs eat huge losses.

Def possible. I'm relatively bullish on higher end/rare cards but time will tell. Either way, it's a volatile space and very tough to predict.

[mkebucks2001]

I got back into the hobby in December and did most of my purchasing in January - February. Of course, I wish I wouldn't have spent most of my budget during this time (instead, I should've been more diligent and waited), but that's life. I've made a few more purchases in April and May, as part of a dollar cost averaging strategy.

There seem to be two camps of people: those that view this "dip" as part of a normal cycle, and those that view the dip as a correction from the astronomically high prices we saw in January and February. Personally, I'm in the first camp. If you look at historical cycles in the market, there is always a new high, a pull back, and then another new high. Of course, "this time might be different' but when it comes to any market, I'm banking on history to keep repeating itself.

[WallyatJCCards]

Originally Posted by prospectorgems

Yeah...bought a few cards at their highs and to be honest, I would rather hold than take a loss. I just have no desire to lose half of the original investment on each card at this point.

Which cards have lost 1/2 their value? I thought the market was still clearly strong, but a 50% crash is very significant.

[alphaomegas]

Originally Posted by hauntedcomputer

Wow. There's a decent chance the market will be down to half or less of what it is now in 2023. I'd say a very good chance. And you're betting a house that cards continue to have nowhere to go but up (even lebron and Zion rookies).

I wish you luck but "investors" should've sold in the past year, not bought.

it looks to me like the market is stratifying--rich guys keep setting record prices for rare stuff while the working stiffs eat huge losses.

I concur and it’s only .0001% of cards actually moving up. They were expensive back then. Saying goes rich gets richer. It’s all luck right place right time is all. Right now don’t be a bag holder and don’t listen to people who has stores or has eBay accounts Saying prices going up they holding massive inventory. They are the ones pumping and trying to sell to suckers to off load the cards.

Pro tip don’t listen to lcs or eBay stores they have money in the game and nobody likes bag holding.

[mkebucks2001]

Originally Posted by alphaomegas

I concur and it’s only .0001% of cards actually moving up. They were expensive back then. Saying goes rich gets richer. It’s all luck right place right time is all. Right now don’t be a bag holder and don’t listen to people who has stores or has eBay accounts Saying prices going up they holding massive inventory. They are the ones pumping and trying to sell to suckers to off load the cards.

Pro tip don’t listen to lcs or eBay stores they have money in the game and nobody likes bag holding.

I see you've been a member since 2013, so you're far more experienced than me. Haven't you seen past peaks and valleys? Why is this time different? Is it because the run up was SO much higher than past peaks? Asking out of pure curiosity. I wish I had the personal experience with the recent market trends that you do...

[oldgoldy97]

Originally Posted by mkebucks2001

I see you've been a member since 2013, so you're far more experienced than me. Haven't you seen past peaks and valleys? Why is this time different? Is it because the run up was SO much higher than past peaks? Asking out of pure curiosity. I wish I had the personal experience with the recent market trends that you do...

[mkebucks2001]

Originally Posted by oldgoldy97

Yikes.

[oldgoldy97]

I thought you were taking a shot at that person and their burner account.

[Stoiclife]

As long as we no longer here from the likes of "influencers" like Vegas Dave, it's a net gain for the hobby.

[GeechQuest]

Originally Posted by hauntedcomputer

Wow. There's a decent chance the market will be down to half or less of what it is now in 2023. I'd say a very good chance. And you're betting a house that cards continue to have nowhere to go but up (even lebron and Zion rookies).

I wish you luck but "investors" should've sold in the past year, not bought.

it looks to me like the market is stratifying--rich guys keep setting record prices for rare stuff while the working stiffs eat huge losses.

I’m going to go out on a limb and say we haven’t even come close to peak card prices. There is more money being shuffled around than this time last year. There will be more money shuffled around a year from now as well.

I think we’re actually seeing people spread their wings a bit and try out other segments of the hobby, so more money overall just getting spread over a bunch of cards which is depressing prices a little bit.

Anecdotal, but I never lose eBay auctions for cards I want and almost always set record prices. I’ve lost the past 3 auctions I’ve bid on. That’s never happened to me in a decade. Not 4 figure cards or anything like that, but that’s not really my wheelhouse anyway.

I can see a bunch of different catalysts that push prices up in the near and distant future. None of them are sport achievement related.

The hobby has a long ways to go to be in the “art” realm, but I suspect it will get there.

[tadams1996]

I’ve taken this time to consolidate into rarer and higher end stuff. More importantly, cards I’d be happy to own even if they fall another 50%+.


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