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

[gomiamigo]

Originally Posted by mbuch21

This is a fascinating post. Because my buy-in price on the Jordan PSA 8 is $8k. Not sure if that still feels too risky a re-entry point, but just demonstrates buyers are going to be all over the map during the offseason. Should be interesting.

Dec 2019 it was a $2.5k card. Hundreds upon hundreds in psa 8 have sold since then, literally. It's not rare nor hard to find at any time online or offline.

2 years ago BGS 9s were 3600.

Not saying it will be 2k again, but 8k....I mean it's your money do what you want.

[jzx1103]

Originally Posted by gomiamigo

Dec 2019 it was a $2.5k card. Hundreds upon hundreds in psa 8 have sold since then, literally. It's not rare nor hard to find at any time online or offline.

2 years ago BGS 9s were 3600.

Not saying it will be 2k again, but 8k....I mean it's your money do what you want.

Yea its not going down to $2.5k again lol. There's still something called growth of the hobby. Not everyone whom entered the market in the last 18 months are flippers and sneaker boys. There was actually still a pretty significant amount of collectors and hobbyists whom newly entered or re-entered into sportscards and aren't leaving just because of this crash. I wouldn't be surprised if 3x to 4x from pre-covid is the new correction. Just not 10x to 20x.

[mbuch21]

Originally Posted by jzx1103

Yea its not going down to $2.5k again lol. There's still something called growth of the hobby. Not everyone whom entered the market in the last 18 months are flippers and sneaker boys. There was actually still a pretty significant amount of collectors and hobbyists whom newly entered or re-entered into sportscards and aren't leaving just because of this crash. I wouldn't be surprised if 3x to 4x from pre-covid is the new correction. Just not 10x to 20x.

Yes. My thinking is the value should hold at 2-3x of pre-Covid. And then run up once again. So I don’t mind missing them bottom by 1-2k if I think my upside is still 5k+ over my typical 5-10 year hold period. I do see a path back to 15k at a measured pace over time, and that’s my bet.

[tripncards]

delete

[k13]

Those "collectors" are just long term flippers.

[daviswr7]

Originally Posted by k13

Those "collectors" are just long term flippers.

And those long term “flippers” are just short term collectors! See I can use quotes too! They won’t make sense but who cares...

[Stoiclife]

It's been a crazy and wild ride for this iconic rookie card of the GOAT. Even though the market has softened, I'll still be a long term buyer if the price drops enough. Looking forward to adding to my collection.

[MBMiller25]

Originally Posted by mbuch21

Yes. My thinking is the value should hold at 2-3x of pre-Covid. And then run up once again. So I don’t mind missing them bottom by 1-2k if I think my upside is still 5k+ over my typical 5-10 year hold period. I do see a path back to 15k at a measured pace over time, and that’s my bet.

I bought a PSA 8 (centered sharp card except had a print dot on it) from 4SC website in Decmeber for $7500. It literally delivered on December 24th 2020. I flipped it in February for 21K privately. I would think $7000K is a good number to jump back in at, and think you might be get a shot between 7-8K as your hoping to do via your previous post at 8K.

[r338]

Originally Posted by MBMiller25

I bought a PSA 8 (centered sharp card except had a print dot on it) from 4SC website in Decmeber for $7500. It literally delivered on December 24th 2020. I flipped it in February for 21K privately. I would think $7000K is a good number to jump back in at, and think you might be get a shot between 7-8K as your hoping to do via your previous post at 8K.

Nice! You timed it perfectly.

[Stoiclife]

Originally Posted by MBMiller25

I bought a PSA 8 (centered sharp card except had a print dot on it) from 4SC website in Decmeber for $7500. It literally delivered on December 24th 2020. I flipped it in February for 21K privately. I would think $7000K is a good number to jump back in at, and think you might be get a shot between 7-8K as your hoping to do via your previous post at 8K.

Excellent timing! Well done.

[gomiamigo]

Originally Posted by mbuch21

Yes. My thinking is the value should hold at 2-3x of pre-Covid. And then run up once again.

Why? Just hope?

Why should a card that 7x hold at 3x in a year? What's the analysis you're using to determine that? And why increase again from there....

[GOATcards]

from the other thread on 'card market pricing':

Originally Posted by Steve88

I guess some cards may never see their peak again? Even GOAT rookies?

Originally Posted by GOATcards

Probably not for a while for those with higher and unnumbered pops (e.g., #57 relative to the Star Co. issues). I'd say maybe another 20 years before you see 8s stable at $30K or more. As for limited-issue, low-pop, autos and that sort of thing, I couldn't really say, they could be the most stable Blue Chips over the next several years, but I wouldn't be surprised at a short-term swing of, say, 30% either way, given recent history. I'd expect a short-term slide in the higher-pop stuff. Decently-centered #57 PSA 8s settling around the $7K mark by year's end, right?

Originally Posted by GOATcards

Ouch, the #57 has already tumbled to $25K or less for a 9
https://www.psacard.com/auctionprice...ues/299576#g=9

and to $9K or less for an 8
https://www.psacard.com/auctionprice...ues/299576#g=8

Old price ratios between 8s and 9s re-establishing themselves (more like 1:2 before COVID lockdowns)?

I guess by year's end we'll see around $7K and $18K respectively...

[MavsRChamps]

Originally Posted by k13

Those "collectors" are just long term flippers.

I know the guy below your comment made fun of it - But this is spot on for most "collectors". Why? Because even for most collectors, there is an understanding that when "we" are older there's this thing called death ... Noone wants to leave their children with cards that are worthless. We all hope they increase in price for our children's sake, or you can say we "flip" it to our children when we pass on & we want the cards to be worth something. That's my thinking. I'm holding a few cards/boxes as a collector but really I am a "long term flipper" because hey if my grandchildren need money for college or something serious 50 years from now, I'm not just gonna' be selfish and hold onto a card worth a ton of money. I would be a "long term flipper" in that sense. I'm not gonna hold a card for 50 years if I don't think it will be worth something then ... My 2 cents.

[mbuch21]

Originally Posted by gomiamigo

Why? Just hope?

Why should a card that 7x hold at 3x in a year? What's the analysis you're using to determine that? And why increase again from there....

Not just hope - Here is my thinking: the industry has grown in terms of number of buyers and purchasing dollars, velocity of transactions, and infrastructure such as grading, information, promoters, etc.
At peak Covid, all of these things were unsustainably high, leading to unsustainable high prices. Now we are mid fall-off. But when things finally settle (perhaps this off season), the net result and price levels should maintain some lasting benefit from some of the newly installed capital etc.
The reason I think 2-3x is that the capital underpinning the market will probably be slightly higher than it was before Covid, but iconic cards should keep higher market share than the base and speculation cards. So 2-3x for a Jordan RC to me feels like the sweet spot.
Other folks on BO may be using a different qualitative or quantitative calculus than I am, but seems people are generally in agreement that things are still falling, but won’t go back to pre Covid levels.

[Retired hobbist]

Originally Posted by kefskala

Love to hear stories like this. Takes me back to the early 80's around 10 years old which was the last generation that would flip cards. The game that you are talking about was "knock down", you would stand a card against the wall and then try to knock it down, standing about 8 feet back, by throwing another card at it. If you knocked it down you would win the pot of cards that was used to try and knock it down..Did wonders to all card corners...there was also a game called colors and then actual flipping of cards trying to match one and other heads or back...great times! sorry for getting off topic in the basketball forum

I played a variation of that where the closest to the wall got the cards sometimes three shooters would line up.

I think you could still play this with commons if the card prices were low enough.

[Springerj23]

Another food for thought on pricing. March 3rd, 2020, just prior to Covid and Last Dance, at a large card show in Nashville. 86 Fleer Jordan 57 PSA 9, beautiful example and centered, recently graded, 40?????? serial number, $6K cash and no one bought it.

[hauntedcomputer]

Originally Posted by mbuch21

This is a fascinating post. Because my buy-in price on the Jordan PSA 8 is $8k. Not sure if that still feels too risky a re-entry point, but just demonstrates buyers are going to be all over the map during the offseason. Should be interesting.

Buy-in prices can keep moving, though. Especially if the market keeps dropping.

My buy-in for a Star 101 in 7 was 10k (we're selling a second home and I wanted to get one nice card.) That was when a 7 was around 20k. Now they are bumping 12k and 10k seems like way too much.

I've never owned a 57. They've just never seemed like the right price to me because they are so plentiful and ordinary. The trouble with that card is that a lot of people own multiple copies. Yeah if someone offered me an 8 for 4k I'd buy it and immediately sell it for 8k. Or 6k. Or 5k. And be very happy.

[dumars2001]

I know that prices for every grade depends a lot on the eye appeal of the card, but almost every day, you see cases like the one below. Both are BGS graded 8's. An almost $4,000 difference in price and I actually think the card that sold on June 7th is the better card. Just baffles me sometimes, how the price can fluctuate so much with each auction on any given day.

this one sold on June 4th for $10,000

https://www.ebay.com/itm/37355802934...p2047675.l2557

This one sold on June 7th for only $6,230
https://www.ebay.com/itm/28431093664...p2047675.l2557

[r338]

The June 4 was a Buy It Now. That buyer is probably going to regret that purchase.

The June 7 card was a regular auction. That’s probably where the market is currently for a BGS 8. And I agree it is probably the stronger card, at least the subs are.

[ReggieBush22]

Here is the pride and joy of my collection. The only flaw is the common wear on the bottom-right edges. Also, the picture clarity isn't the best. But overall, a blazer, high end 9.

[ReggieBush22]

Here's another one. Really love this one because it's one of the TRUE OG old label BGS holders. As some of you might be aware, when BGS first came out, they were beyond tough. This one is 13,0XX. Literally has to be one of the first several batches graded. A super nice 8.

[Stoiclife]

Originally Posted by ReggieBush22

Here's another one. Really love this one because it's one of the TRUE OG old label BGS holders. As some of you might be aware, when BGS first came out, they were beyond tough. This one is 13,0XX. Literally has to be one of the first several batches graded. A super nice 8.

I love the OG BGS label holders. That's a nice one.

[Mustang1990]

i bought a psa 8 86 jordan in feb for $14k... at the time it was a great deal because within the next week or 2 they were up to $20-$22k.... sent into probstein cause i sensed the down turn and luckily got $19k for it.... i swear another week after that they all went back down to $12-13k for the psa 8 and i was just waiting for the "return" on the one i sold but it made it all the way without any issues....

just waaaay too many of these cards out there in all grades to justify the high prices. i admit i got sucked into the hype and prob should have not bought at my price, but got very lucky for selling at what i did

[Ferg1945]

Originally Posted by Mustang1990

i bought a psa 8 86 jordan in feb for $14k... at the time it was a great deal because within the next week or 2 they were up to $20-$22k.... sent into probstein cause i sensed the down turn and luckily got $19k for it.... i swear another week after that they all went back down to $12-13k for the psa 8 and i was just waiting for the "return" on the one i sold but it made it all the way without any issues....

just waaaay too many of these cards out there in all grades to justify the high prices. i admit i got sucked into the hype and prob should have not bought at my price, but got very lucky for selling at what i did

How did yours look? Did you do research and buy a well centered one or just any PSA 8? Prices have come down... but for well centered PSA 8s... the price is still pretty decent. Nothing close to $12-13K

I bought one on Dec 31st... right before the surge. It has always been a card I've wanted... a nice PSA 8 graded MJ RC.

[ReggieBush22]

Originally Posted by Stoiclife

I love the OG BGS label holders. That's a nice one.

Yeah, i was pretty shocked when I saw that on Ebay because I knew how tough BGS was when they first started out. They were beyond tough. They were selling for much more than PSA for a time but at some point, they sacrificed quality.