📈Is the correction over? What cards look attractive with an upside potential?📈

[solt0131]

A wise man once said "The sports card market will crash by the end of 2024"

[Torro]

Originally Posted by drobfan8

My plan is to sell anything that I don't collect or really like before Fanatics floods the market with singles.

The $20 to $200 range is a nice space to be in.

I would be crapping myself if I was paying $1000 for these Autos that are getting around. Long drop coming

While it seems that the general understanding is that high-end is the best way to go in terms of long-term value, I do not agree with that. For me, it also feels that $20 to a couple hundred are good space to be in (rather HOF than ultra-modern RC), and there is a lot of collectible stuff in that range (also a lot of crap that will end up being closer to $0 long term).

$10k and above has a huge risk, if it's not viewed as an investment then hobbyists are not going to throw these amounts around (at least not in the volumes there are cards currently above that amount).

[solt0131]

Originally Posted by Torro

While it seems that the general understanding is that high-end is the best way to go in terms of long-term value, I do not agree with that. For me, it also feels that $20 to a couple hundred are good space to be in (rather HOF than ultra-modern RC), and there is a lot of collectible stuff in that range (also a lot of crap that will end up being closer to $0 long term).

$10k and above has a huge risk, if it's not viewed as an investment then hobbyists are not going to throw these amounts around (at least not in the volumes there are cards currently above that amount).

The 10k above market is crashing harder than puddle monkey collects.

[Nomad]

Probably, if you look at it closely, it's not that the entire market is crashing, it's that it is finally truly and undeniably clear that certain picks didn't work out. And others are realizing that locking up money in a phenomenal talent that will take years to develop is not as instantly gratifying as hyped breaking.

[cms11]

Originally Posted by tjforce

Base is for collecting.

This is a hobby, after all, and sometimes you just want a basic rookie card of a guy.

People will practically give you a base RC of any player these days.

[hermanotarjeta]

People finally realizing cards don’t go up forever.

[Bcr]

Originally Posted by kipgen

Kinda takes some of the fun out of it if you only buy cards for people that played 20+ years ago instead of right now

For me anyway

Then you buy the established vets that are still playing or future HoFers. Stay away from the young guys and you get burned less

[jkampis]

Originally Posted by jcardstore

Why would a rule that's in place for 2024 change now?

It was already pushed back a year, and I think possibly it was two years delayed. It could be pushed back again and then possibly changed back to $20k by the GOP.

[Spacemanspif]

This gets said every time, but requiring a company to send you a piece of paper at year end is not what obligates you to pay taxes.

[boxbuster7]

Originally Posted by solt0131

A wise man once said "The sports card market will crash by the end of 2024"

The sports card market has been crashing for the last 3 years

[1980bust]

Too many cards, too much boringness out there. Been ages since I saw a set and thought "wow, that looks good".

[jcardstore]

Originally Posted by Spacemanspif

This gets said every time, but requiring a company to send you a piece of paper at year end is not what obligates you to pay taxes.

I mean sure but this is irrelevant to the point that was being made.

You can’t ignore it when you get a 1099K. You can ignore it when you don’t get one.

I’d wager that most people selling cards are not reporting sales accurately to the IRS

[Nomad]

Originally Posted by 1980bust

Too many cards, too much boringness out there. Been ages since I saw a set and thought "wow, that looks good".

What's a set you would have emulated to catch your attention?

[jkampis]

Originally Posted by Spacemanspif

This gets said every time, but requiring a company to send you a piece of paper at year end is not what obligates you to pay taxes.

[discodanman45]

Originally Posted by 1980bust

Too many cards, too much boringness out there. Been ages since I saw a set and thought "wow, that looks good".

It is like the 1990's without the innovation. I have been through collecting through a masses produced era before and this is no different. Well there is a difference, people are paying $20 for every card to produce artificial scarcity, often times temporarily, to get it into a 10 slab.

[hermanotarjeta]

Originally Posted by discodanman45

It is like the 1990's without the innovation. I have been through collecting through a masses produced era before and this is no different. Well there is a difference, people are paying $20 for every card to produce artificial scarcity, often times temporarily, to get it into a 10 slab.

Also don’t forget grown men are over-paying other grown men to open their packs for them on a video stream. How deranged is that?

[discodanman45]

Originally Posted by hermanotarjeta

Also don’t forget grown men are over-paying other grown men to open their packs for them on a video stream. How deranged is that?

The "LET'S GOOO!!!!!" Era is absolutely insane.

[RKH916]

Wait... Just so I'm clear here, the Biden admin introduced a rule that requires you to file taxes for sales >$600, instead of what used to be $20k? Is this just related to sports cards, or is it any personal sales?

WTF?

[discodanman45]

Originally Posted by RKH916

Wait... Just so I'm clear here, the Biden admin introduced a rule that requires you to file taxes for sales >$600, instead of what used to be $20k? Is this just related to sports cards, or is it any personal sales?

WTF?

The rule for you to file taxes for even $1 of sales has always been there. The mandate of a 1099-K form is the only thing new, which alerts the IRS that you had sales. This is for any sales on any platform, including PayPal Goods and Services.

This year it will be $5000 and in 2025 it will be $600. If people just ignore the form, don't worry. The IRS will most likely won't audit you. They will just send you a bill for taxes on the entire 1099-K form without deductions and also attach a penalty fee as well.

[Bosoxfan5990]

Originally Posted by discodanman45

The rule for you to file taxes for even $1 of sales has always been there. The mandate of a 1099-K form is the only thing new, which alerts the IRS that you had sales. This is for any sales on any platform, including PayPal Goods and Services.

This year it will be $5000 and in 2025 it will be $600. If people just ignore the form, don't worry. The IRS will most likely won't audit you. They will just send you a bill for taxes on the entire 1099-K form without deductions and also attach a penalty fee as well.

Had to figure out how to recoup some of the money sent overseas somehow

[mfw13]

Originally Posted by RKH916

Wait... Just so I'm clear here, the Biden admin introduced a rule that requires you to file taxes for sales >$600, instead of what used to be $20k? Is this just related to sports cards, or is it any personal sales?

WTF?

No....Congress did....not Biden.....

[imbluestreak23]

I bought a KANG junk PSA 10 optic holo insert earlier today for $17 + shipping

Grading fees cost more. My goodness.

[1980bust]

Originally Posted by Nomad

What's a set you would have emulated to catch your attention?

My taste is just my taste - I'm sure many others hate it. I don't care for vintage RCs or any of that stuff.

Right now I own just over 90 cards - over 30 of them are 2020 Full Capacity.

Me collection is now pretty much only made up of:

- 2020 Full Capacity
- 2021-22 Beam Team soccer black /10
- Key One and One silver /99
- 1994-95 Emotion N-Tense
- Some random singles

[PuddleMonkey]

Originally Posted by solt0131

The 10k above market is crashing harder than puddle monkey collects.

[drobfan8]

I feel like all these dealers should sell now.

There are gonna be so many stuck holding bags.

Same thing happened early 00s.

Prices got so low even Exquisite was cheap for a long time