Why are people dumping?

[Donkaylove]

Originally Posted by estebahn73

Well, people are definitely dumping 2012 Prizm cards of Lillard, David, Lebron etc.

Lillard PSA 10 was selling for 2500-3000 now? $1000. That's a big drop

Funny---i watched all of WEGOTHATOO auctions on lillard ebay, he did better than i expected.

[Orndorff24a]

Originally Posted by estebahn73

Well, people are definitely dumping 2012 Prizm cards of Lillard, David, Lebron etc.

Lillard PSA 10 was selling for 2500-3000 now? $1000. That's a big drop

I mean, it’s at 1k. Where was it 6 months ago.

[bigmikeatl88]

A few factors combined.

First the rapid rise in popularity, which still exists, but is slowing a tad.

Second, the grading back up at PSA.

As a result, obtainable supply, especially quality supply was down while demand was rapidly expanding. Result was rapid, exponential growth in prices.

This pull back is a positive. It shows market is functioning as intended. As supply is expanding and hyped players being eliminated from the playoffs and the immediate public mind, their cards are justifiably correcting in value.

All is well.

[Jopeal]

Originally Posted by packerfan4200

Surely you mean 1-2x a day, no?

Seconded.


Which cards are actually dipping btw because they're surely not the ones I'm looking to buy.

Prizm base prospect cards dipping at the beginning of the offseason?

[CoachMiller1981]

I've really enjoyed the discussions going on in here. I've sold 1 card in the 30 years I've been in the hobby. I never got in to the hobby to make money though. I just genuinely love collecting basketball cards and some baseball. I could make a huge profit on Luka. I don't have anything graded. However, I bought 4 raw Luka Prizm rookies for a total of about 50 dollars back in 2018 plus I pulled 3 from retail. I picked up the Absolute uncirculated rc for 70 bucks back at the end of 2018. I just got really lucky and got in when prices were extremely inexpensive. Of all the Lukas that I bought the Absolute was the most I paid for any of them. Once again, it's great hearing everybody's opinion on this subject. Oh, one more thing I still have my Topps base Steph rc that I bought for 2 bucks back in 2010. I'm kicking myself for not buying a few of the Chrome rookies and a few more of his Topps rookie. I love having multiples of certain players cards even though I'm not a seller. I'm only 38 so maybe 1 day I will cell some of my cards.

[Spacemanspif]

Originally Posted by Jopeal

Seconded.


Which cards are actually dipping btw because they're surely not the ones I'm looking to buy.

Prizm base prospect cards dipping at the beginning of the offseason?

Not just the bass RCs. I won a Lebron Mosaic Silver PSA 10 for $565, about $200 less than the going rate. Also a Giannis Color blast BGS 9.5 ended at $4050, the last two were 5756 for a BGS 9 and 6601 for a 9.5. Pretty hefty dip and if I had the cash I would be a buyer in that sub 5k range

[Jopeal]

Originally Posted by Spacemanspif

Not just the bass RCs. I won a Lebron Mosaic Silver PSA 10 for $565, about $200 less than the going rate. Also a Giannis Color blast BGS 9.5 ended at $4050, the last two were 5756 for a BGS 9 and 6601 for a 9.5. Pretty hefty dip and if I had the cash I would be a buyer in that sub 5k range

I'm still buying with a late 2019 pricing mindset, so maybe I'm not looking at the same cards as some others here.

Don't get me wrong, there are some solid buys to be had.
I just think the thread premise is odd. Maybe I'm missing a layer to the relevance of a seemingly normal retraction.

[Spacemanspif]

Originally Posted by Jopeal

I'm still buying with a late 2019 pricing mindset, so maybe I'm not looking at the same cards as some others here.

Don't get me wrong, there are some solid buys to be had.
I just think the thread premise is odd. Maybe I'm missing a layer to the relevance of a seemingly normal retraction.

Yeah I think the general premise is people freaking out that their “on paper” fortunes weren’t min-maxed and they’re upset about lost opportunity. I feel it a little too because I’m sitting on a bunch of stuff I should have sold a month ago, but I rarely check things I’m not trying to buy so I didn’t know Lillard Prizm was up to $3k or Luka Silvers at $8k or some other things until it was too late.

Problem with buying season coming so suddenly is I’m nearly tapped out on cash atm and with depressed pricing it’s hard to reasonably liquidate. Hell, even the stocks I was looking to unload took a bath today.


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[Jopeal]

Originally Posted by Spacemanspif

Yeah I think the general premise is people freaking out that their “on paper” fortunes weren’t min-maxed and they’re upset about lost opportunity. I feel it a little too because I’m sitting on a bunch of stuff I should have sold a month ago, but I rarely check things I’m not trying to buy so I didn’t know Lillard Prizm was up to $3k or Luka Silvers at $8k or some other things until it was too late.

Problem with buying season coming so suddenly is I’m nearly tapped out on cash atm and with depressed pricing it’s hard to reasonably liquidate. Hell, even the stocks I was looking to unload took a bath today.


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How many actual sales were there at $3k for a Lillard Base 10?
Or a Luka Silver @$8k?

I guess my point being every season there will be a few people who pay the peak price for relatively higher printed, or even short printed card during a potential playoff run. And only a few sellers who maxed out. Who really aspires to be in either of those positions anyway? I don't.

If a buyer was only in the game for a quick flip turned sour, so be it. Cut their loss and move along.
That person likely doesn't have the finances to be holding, and is probably buying above a healthy price range for their budget.

It's getting late. I might be rambling.

[yaoming]

Originally Posted by estebahn73

Well, people are definitely dumping 2012 Prizm cards of Lillard, David, Lebron etc.

Lillard PSA 10 was selling for 2500-3000 now? $1000. That's a big drop

Really? Wow, imagined buying one


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[Ericc5Bears]

Originally Posted by yaoming

Really? Wow, imagined buying one


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I wonder what the return rate is going to be on Lillard Prizms that sold for 3k, I'm thinking 1/5 at least.

[TFP]

Originally Posted by Ericc5Bears

I wonder what the return rate is going to be on Lillard Prizms that sold for 3k, I'm thinking 1/5 at least.

This is one of the reasons why I don’t mind missing out on selling cards at their peak. Too many a$$hats requesting returns after a week or so because prices dropped significantly.

[tjforce]

Originally Posted by Ericc5Bears

I wonder what the return rate is going to be on Lillard Prizms that sold for 3k, I'm thinking 1/5 at least.

Here’s the last month of Lillard Prizm PSA 10 sales.

Looks like about 9 copies sold for over $2,500.

The lesson: Don’t be a victim of the moment.


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[jw8]

Originally Posted by CC_123

You're telling me his $10-$50 stuff has zero chance at doubling? You realize the hype behind Zion is going to be massive considering he will be healthy. His stuff under $100 and for sure under $50 has a really good chance at doubling.

He could reinjure during off season

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[DajuanWagner]

Originally Posted by biggieruth

These cards didn't dip at all your talking out your ass. People are taken their profits and holding the rest for the spike. Anyone thinking their are great deals out here on sports cards in general isn't smart as they think.

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BiggieTruth!!!!!

[rudyjustinfarrell]

I see this a lot at my LCS as it is also a coin/stamp shop. Older "clectors" of gold and silver totally trying to time the market. Really? You bought gold at $300 years and years ago, it hit a week ago or so $2000... and you are mad at a $1900+ quote because gold dipped that day? I ask people about their 5 year plan and they swear they are selling if it ever hits $XXXX. I bet it's 50/50 that they sell because they are hoping it hits $XXXX + $500.

If you have multiple copies of something... I am a fan of locking in profit. In 10 years is it really that big of a deal if you had 10 of XXX, values skyrocket, and now you only have 5 of XXX? Meanwhile you pocketed decent money along the way to spend however you wanted?

[babyfaceposey]

Tired of politics in sports is why I am selling.

[LC2nine10]

Because I'm still making crazy profits, even with the semi-crash.

As long as you bought in before this recent surge its all $$$$.
Its crazy seeing <$20 cards I bought barely a year ago going for +$100. It would be foolish not to.
Look at the stock market sell off, same thing.

[jw8]

Somebody mentioned it in this thread but can't find the post. I'm selling because I'm getting orders back from psa, sold a couple Zion prizm PSA 10 for $1100, less than comps but still a 5x return. I take those profits and look for rarer cards or buy Lebron/Tatis/Trout/Brady.

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[LeonfromNC]

Remember that guy who is charging $6.99 for his “investing” advice well he was everyone to go buy Kyle Guy a couple months ago so yeah...

Anyone who tells people to go “invest” in Kyle Guy has no business having a paid subscription advice.

That’s how you know it’s a scheme.

[isles4life]

can't pump and dump without dumping

[ballhawkdawk]

Originally Posted by tjforce

Here’s the last month of Lillard Prizm PSA 10 sales.

Looks like about 9 copies sold for over $2,500.

The lesson: Don’t be a victim of the moment.


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Spoiler alert: it'll happen next year too

[JeremyNick]

This is fun to watch.

“When will the bubble burst?” - Never!

“Why are prices dropping?” - They aren’t, shutup!

[yrozmaryn]

Originally Posted by JeremyNick

This is fun to watch.

“When will the bubble burst?” - Never!

“Why are prices dropping?” - They aren’t, shutup!

The low end stuff is crashing bc its been mass produced and easily replaceable
High end rare stuff has only continued to rise
Why youre happy that prices are dropping in some areas and people are losing $ is beyond me. Anyone rooting for a crash probably has bigger issues than cards.

[BreaultCards]

I think (know) there is a big difference of reverting to the mean then crashing. If a card spiked up from 1k to 3k back to 1k in a short time frame it didn’t crash.