Fractional Ownership

[Morgoth]

They tried this in Magic and the problem there was that the fine print basically stated you didn't own anything tangible what you got was this

Interests in an LLC series that owns this asset

You only make money after the sale of the asset and share in the profit if any but you have 0 say on when it is sold.

[LC2nine10]

And then we find out the card is trimmed and everyone freaks out.

Also, the trust issue.
The biggest players in the game seem to all be under various investigations. Who is going to be in charge?
Gary V moght have a big enough bankroll to get this going i guess.

[DragonWagon]

To me part of the joy of collecting comes from the ability to hold the card and even the smell of them.


Sent from my iPhone using Tapatalk

[asujbl]

Nice article today on The Athletic about this

It was also discussed on Twitter last night

It's definitely up and moving.

[js0000001]

Cardtarget

[mfw13]

Originally Posted by jbscott56

Hey all - I've seen posts about this before but wanted to restart the conversation. I saw Collectable is a company listing expensive cards / memorabilia and allowing collectors to buy fractional shares. Is this something you as a collector would be interested in? Why or why not? What would a company like this need to offer (features, secondary market trading, proper certifications, etc.) for you to invest? [Strictly evaluating it from our perspective, not the viability of this company being successful]

Hope this sparks an interesting conversation.

Only if they cut up the card and give me my fraction

Further evidence of the commoditization of cards.....

[asujbl]

Requires a subscription although I'm sure you can find it somewhere

https://theathletic.com/2056025/2020...-with-just-25/

[ehren]

This article brought me here. Totally smacks of timeshares, and also reminds me of all the gold buying commercials in the late aughts. Without even considering that baseball cards may be on the verge of a major bubble, I fail to see how this is even remotely a good idea.

[GeechQuest]

Originally Posted by asujbl

Nice article today on The Athletic about this

It was also discussed on Twitter last night

It's definitely up and moving.

Rally has been doing this, Collectable is doing this, I'm pretty sure this is what Leore is going to end up starting with his purchase of the Lebron Exquisite /23.

Nat Turner's business partner floated the idea months ago about putting up Nat's collection as a whole and putting it on a ticker and let people speculate on the value of the entire collection.

It's been tried and has had moderate success. It's also the reason these high-end cards are going for astronomical prices as all the new card hedge fund gurus are shoring up packages to sell the public.

It's a "meh" idea.

[dmanrico]

The users on Blowout definitely skew towards your traditional collectors in the hobby, so not surprised by the responses here.

While I too take great joy in ownership and possession of the cards, I can see some kind of concept like this get traction. Not sure if it will be one of the companies previously mentioned, but the idea of making cards more of a financial asset doesn't seem crazy to me.

[ChrisCastig]

Originally Posted by Morgoth

They tried this in Magic and the problem there was that the fine print basically stated you didn't own anything tangible what you got was this

Interests in an LLC series that owns this asset

You only make money after the sale of the asset and share in the profit if any but you have 0 say on when it is sold.

Are you allowed to sell "your share" of the card whenever you want?

[glen87]

there are just so many things that could go wrong with this idea.

a scammers paradise.

[asujbl]

Originally Posted by ChrisCastig

Are you allowed to sell "your share" of the card whenever you want?

Yes

Collectable partners with Templum Markets, LLC to provide a secondary market for our offerings. This allows users to sell shares to other new and existing investors.

Please Note: There is an initial a 90-day lock-up period once a user purchases a share of an asset. This means users will not have access to the money they invested for 90 days.

[auburn35]

Originally Posted by glen87

there are just so many things that could go wrong with this idea.

a scammers paradise.

Fun update, unless you were one of the people who thought this was a good idea.

Investor Wins Legal Victory Against Collectable but Where are the Collectibles?

https://www.sportscollectorsdaily.co...-collectibles/

[seanbros55]

Originally Posted by auburn35

Fun update, unless you were one of the people who thought this was a good idea.

Investor Wins Legal Victory Against Collectable but Where are the Collectibles?

https://www.sportscollectorsdaily.co...-collectibles/

Wow...no one couldve seen this coming.

/eyeroll

[Triple B]

This was just a touch dumber than offering loans and accepting cards as collateral by that Brent fella everyone here loves.

[SaveMeTheGum]

Ah the Covid era! Fractional ownership, NFTs, and horizontal grading slabs. What a time to be alive!!

This Cornett guy seems like a fairly intelligent and successful person. Amazing that he got caught up in such a scam. Play stupid games, win stupid prizes I guess.

[KhalDrogo]

A good read. Pretty clear these people are never going to see a dime.

Greed and stupidity ruined these fractional companies. Would have been very easy to just allow public offers on items that would be voted on by the fractional owners. Could have set the ownership threshold on allowing offers to something like 5-10% just to keep market activity going.

[rttrffg2012]

OP is right: FUN UPDATE!

The items appear to be unlocatable.
You’ll never find them.

Will the people get their money back?
And who is responsible? There are original owners, a new owner, and art gallery, and the people in possession of the items…

[oddstuff]

Hope nobody here on BO fell for this.