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

[JohnnyHatesJazz]

Originally Posted by dumars2001

This is a pretty huge decline for the card. Everyone thought the card was heading to a million or higher but simply put, there are just too many of these Jordan rookies out there right now! A new listing in all grades (bgs,psa) is popping up literally every few minutes for sale. I hope this card keeps going up but I just can't see demand keeping up with supply. This card was bound to fall and I think it will continue to fall across all grades. Hopefully, I am wrong but it is already starting to happen!

it's a mark of greed. this was a 20k card several years ago. Now it's a 600k card.

are people expecting an endless, straight up appreciation to the moon?

[dumars2001]

Originally Posted by JohnnyHatesJazz

it's a mark of greed. this was a 20k card several years ago. Now it's a 600k card.

are people expecting an endless, straight up appreciation to the moon?

Exactly, well said!

[dfwsoccer01]

Originally Posted by dumars2001

That is 100 percent true, but at the prices we are seeing now, I can't see it sustaining. The average Joe for sure wants a Jordan fleer rookie, but the average Joe doesn't have the type of money needed to buy the card at these prices, so that is why the price is going to slowly move downwards. Just my humble opinion though, I very we'll could be wrong, especially during this unprecedented boom in cards.

So you’re telling me that of the 322 (316 PSA 10’s and 6 BGS 10’s), there aren’t 322 individuals IN THE WORLD that would pay $500k+ for these cards?! This isn’t a baseball card, where’s there’s limited exposure. This is the most iconic athlete and card of possibly all time.........


Sent from my iPhone using Tapatalk

[Brent72]

Originally Posted by dfwsoccer01

So you’re telling me that of the 322 (316 PSA 10’s and 6 BGS 10’s), there aren’t 322 individuals IN THE WORLD that would pay $500k+ for these cards?! This isn’t a baseball card, where’s there’s limited exposure. This is the most iconic athlete and card of possibly all time.........


Sent from my iPhone using Tapatalk

Exactly! It has nothing to do with "greed"...it's simple supply and demand as mentioned earlier. A PSA 9 '52 Mantle wasn't always a $5.2 million dollar card either. People will pay what the market dictates, plain and simple.

[dumars2001]

Originally Posted by dfwsoccer01

So you’re telling me that of the 322 (316 PSA 10’s and 6 BGS 10’s), there aren’t 322 individuals IN THE WORLD that would pay $500k+ for these cards?! This isn’t a baseball card, where’s there’s limited exposure. This is the most iconic athlete and card of possibly all time.........


Sent from my iPhone using Tapatalk

No, I am not telling you that at all. I am saying that the last 2 PSA 10 Jordan sales were lower than the 2 that just sold for $738,000, so it is going down, not up and I am noticing PSA 8's 7's coming down in price over the past week or so, because there are so many being listed at the moment. This latest drop in value will also drop the value in all the Jordan cards across the board and we are starting to see it happen. That being said, i still think the PSA 10 will go over a million one day, but the craze finally has slowed down a little for the time being. I also believe PSA 8's and lower will go down in price because of the sheer amount of them for sale right now. Like I mentioned in my previous post, the average joe doesn't have $20,000 or $30,000 to spend on a PSA 8.

[dfwsoccer01]

Originally Posted by dumars2001

No, I am not telling you that at all. I am saying that the last 2 PSA 10 Jordan sales were lower than the 2 that just sold for $738,000, so it is going down, not up and I am noticing PSA 8's 7's coming down in price over the past week or so, because there are so many being listed at the moment. This latest drop in value will also drop the value in all the Jordan cards across the board and we are starting to see it happen. That being said, i still think the PSA 10 will go over a million one day, but the craze finally has slowed down a little for the time being. I also believe PSA 8's and lower will go down in price because of the sheer amount of them for sale right now. Like I mentioned in my previous post, the average joe doesn't have $20,000 or $30,000 to spend on a PSA 8.

I get you. What I see happening is anything 9 and above retains the top shelf price (that’s around 5,244 PSA and BGS cards or 18% of the population). But like you say, maybe that is even too large of a percentage of cards for a premium price. So then maybe you look at only BGS 9.5, PSA 10, and BGS 10 as the top tier, which would represent 848 cards, or just a tad under 3% of the population.....And I can already hear the PSA fanboys crying now at such a claim .......so maybe that would never happen, but that breakout seems logical from a top tier pricing perspective.....


Sent from my iPhone using Tapatalk

[dumars2001]

Also the 6 to 8 range of BGS graded Jordan rookies are all going for lower prices (this personally bums me out, cuz I have a bgs 7.5) this past week. You can actually get a "good deal" right now for his card in this range group.

[Thirsty Whale]

I don't think 20%ish decrease in price is a lot. When it has hit $100K first it went back to $60K short after that, so I think it's pretty normal to have corrections like this when a card just increases 600% in 3-4 months.

Also there might be other reasons for this price decrease:
1. I'm sure the site being down before the end of the auction didn't help.
2. It was only a 1 week, small auction, without many huge items. In my opinion their upcoming Winter auction with cards like the Black Label Kobe TC Refractor and other grails will bring more attention to their site, which might help the PSA 10 Jordan Rookie as well.
3. It wasn't a very nice copy either, which can make a huge difference in price at this level.

[Brent72]

Originally Posted by Thirsty Whale

I don't think 20%ish decrease in price is a lot. When it has hit $100K first it went back to $60K short after that, so I think it's pretty normal to have corrections like this when a card just increases 600% in 3-4 months.

Also there might be other reasons for this price decrease:
1. I'm sure the site being down before the end of the auction didn't help.
2. It was only a 1 week, small auction, without many huge items. In my opinion their upcoming Winter auction with cards like the Black Label Kobe TC Refractor and other grails will bring more attention to their site, which might help the PSA 10 Jordan Rookie as well.
3. It wasn't a very nice copy either, which can make a huge difference in price at this level.

All very good points. That PSA 10 had a lot working against it when you look at all those factors.

[dumars2001]

Originally Posted by Thirsty Whale

I don't think 20%ish decrease in price is a lot. When it has hit $100K first it went back to $60K short after that, so I think it's pretty normal to have corrections like this when a card just increases 600% in 3-4 months.

Also there might be other reasons for this price decrease:
1. I'm sure the site being down before the end of the auction didn't help.
2. It was only a 1 week, small auction, without many huge items. In my opinion their upcoming Winter auction with cards like the Black Label Kobe TC Refractor and other grails will bring more attention to their site, which might help the PSA 10 Jordan Rookie as well.
3. It wasn't a very nice copy either, which can make a huge difference in price at this level.

I totally agree with all of your points. It will be interesting to see where the one on Heritage Auctions ends. You see though, when one PSA 10 ends, there is another one waiting just around the corner to be auctioned off, so that is where this card differs with those other big time sales that the National Treasure cards and cards of that type of scarcity are garnering at the moment. When one of those cards with an extremely low pop/uber rare goes on auction, another one doesn't hit the market so quickly, because they are so scarce that in most cases, only 10 or less of those cards exist in the world.

[Thirsty Whale]

Originally Posted by dumars2001

I totally agree with all of your points. It will be interesting to see where the one on Heritage Auctions ends. You see though, when one PSA 10 ends, there is another one waiting just around the corner to be auctioned off, so that is where this card differs with those other big time sales that the National Treasure cards and cards of that type of scarcity are garnering at the moment. When one of those cards with an extremely low pop/uber rare goes on auction, another one doesn't hit the market so quickly, because they are so scarce that in most cases, only 10 or less of those cards exist in the world.

I agree, although I'm believe that the PSA 10 Fleer RC market can also dry up with time, it just takes longer because of the relatively high pop.

[airharrison21]

Hopefully selling my PSA 8 today. Is USPS registered mail the best/safest shipping method to use? This will easily be the most expensive card I’ve ever shipped so a little nervous shipping it.

[dumars2001]

Originally Posted by Thirsty Whale

I agree, although I'm believe that the PSA 10 Fleer RC market can also dry up with time, it just takes longer because of the relatively high pop.

Yes, that is very true. Very good point!

[MandJcollect]

Originally Posted by airharrison21

Hopefully selling my PSA 8 today. Is USPS registered mail the best/safest shipping method to use? This will easily be the most expensive card I’ve ever shipped so a little nervous shipping it.

Fed Ex

[airharrison21]

Originally Posted by MandJcollect

Fed Ex

You can only insure up to 1k with fed ex on sports cards unfortunately.

[Hellcat]

Originally Posted by airharrison21

You can only insure up to 1k with fed ex on sports cards unfortunately.

True story. If you’re a homeowner your card will be insured for the value based on if you have enough coverage. At least my insurance company was covering it as long as it was fire/theft just couldn’t be labeled “mysterious disappearance” that’s where the water gets cloudy. Hope this helps I don’t trust USPS especially with my high dollar cards.

[airharrison21]

Originally Posted by Hellcat

True story. If you’re a homeowner your card will be insured for the value based on if you have enough coverage. At least my insurance company was covering it as long as it was fire/theft just couldn’t be labeled “mysterious disappearance” that’s where the water gets cloudy. Hope this helps I don’t trust USPS especially with my high dollar cards.

Not even registered mail? I have never used that service but it says you can insure up to 50k and the entire commute the package is locked up. Each worker has to sign off on it when it’s passed off to the next person. Seems safe. I’m not a big fan of usps either but It seems like the safest. Figured I’d ask here since I’m sure many people here have shipped high dollar cards.

[kefskala]

GM Jordanites,

Another strong sale last nite at 600k, as stated here before. For me the bench mark for this card is 400K...If future sales continue above this number and 40% of the float is exchanged above this number the card is safe in value. We have had about 9 sales with auction houses and ebay sales the past two months above this number. And heritage has another one for sale already above this number. 20% of the float will never see day light as it is in private collectors hands that always had disposable income and most likely wont sale. That leaves 254 psa 10's for sale. 40% of that will be about 100 cards need to sell. Already 9 in just 2 months. With in a year those 100 should have exchanged hands and then card will dry up and new highs will happen...this will needs to happen for all grades of the RC for prices to keep escalating...if some one just paid 700K for a card they wont be selling at 600K. so this is who float dries up....and if someone paid 700K they dont need money and wont panic...basic economics....

[cardrcomeback]

Originally Posted by vintg

....I think goldin's '87 # 59 psa 9 ended at $ 9,600

which is closer to 9k than 5k. LOL

a) maybe you shouldn't bet, and

b) good luck on waiting for them to come down to 4k.

Haha you “think”?

Come on man, maybe you should admit when you’re wrong.

[shu4040]

Originally Posted by kefskala

GM Jordanites,

Another strong sale last nite at 600k, as stated here before. For me the bench mark for this card is 400K...If future sales continue above this number and 40% of the float is exchanged above this number the card is safe in value. We have had about 9 sales with auction houses and ebay sales the past two months above this number. And heritage has another one for sale already above this number. 20% of the float will never see day light as it is in private collectors hands that always had disposable income and most likely wont sale. That leaves 254 psa 10's for sale. 40% of that will be about 100 cards need to sell. Already 9 in just 2 months. With in a year those 100 should have exchanged hands and then card will dry up and new highs will happen...this will needs to happen for all grades of the RC for prices to keep escalating...if some one just paid 700K for a card they wont be selling at 600K. so this is who float dries up....and if someone paid 700K they dont need money and wont panic...basic economics....

solid post.


Sent from my iPhone using Tapatalk

[Mustang1990]

Originally Posted by cardrcomeback

Haha you “think”?

Come on man, maybe you should admit when you’re wrong.

It did end @ $9600....... He was not wrong, u were

[JBrules]

Originally Posted by airharrison21

Hopefully selling my PSA 8 today. Is USPS registered mail the best/safest shipping method to use? This will easily be the most expensive card I’ve ever shipped so a little nervous shipping it.

USPS registered mail is what I have used for high dollar cards. It might take a little longer for delivery but well worth the wait.

[cardrcomeback]

Originally Posted by Mustang1990

It did end @ $9600....... He was not wrong, u were

That card was bid up at auction long before they started dropping.

Why are they sitting for under 7K on eBay? Come on guys, open your eyes.

[Slvnumber2]

Originally Posted by Brent72

Exactly! It has nothing to do with "greed"...it's simple supply and demand as mentioned earlier. A PSA 9 '52 Mantle wasn't always a $5.2 million dollar card either. People will pay what the market dictates, plain and simple.

Except there are only 6 Mantle rookies in PSA 9 while there are 322 and counting PSA 10 Jordan’s. Not to mention close to 3000 PSA 9’s, and many raw and unopened Jordan’s to come. Jordan rookies or unquestionably the best basketball card you can buy, but they are also being hyped up by collectors that own them trying to make a buck.

The pair of PSA tens that went for 738,000 two weeks ago most likely had some help, and if you look at all the cheerleading and fan boys on here promoting the card that tells you all you need to know about it. Notice how those same posters are not on here talking about the drop to $600,000 in price, Or they are making excuses like “it was not high-end PSA 10.”

It is an amazing card that every collector should and would want to own, and at the same time it also disappointing that people pump it up unnecessarily to try and make a buck. Sports cards should naturally appreciate, and the collector should also be smart - when a card goes from $200,000 to 700,000 in a few weeks for no apparent reason and is not a low pop card they should beware. Low pop is not 322 examples

[rats60]

Originally Posted by dfwsoccer01

So you’re telling me that of the 322 (316 PSA 10’s and 6 BGS 10’s), there aren’t 322 individuals IN THE WORLD that would pay $500k+ for these cards?! This isn’t a baseball card, where’s there’s limited exposure. This is the most iconic athlete and card of possibly all time.........


Sent from my iPhone using Tapatalk

Not even close. I would bet that the people buying these have been buying multiples. They could be backing off now that it appears the 10s have peaked and are correcting. The guy who paid 738k for an off centered Jordan made a terrible buy.