Impact of economic slump / health scare on hobby

[Cigarsmoke23]

Curious to know if board members plan to slow down with buying sports cards / memorabilia with the recent global economic slump due to the caronavirus in the coming weeks and months. Or maybe even sell majority of your cards to capture the gains while things are relatively good.

I ask because I suspect the huge amount of money coming into sports card is directly correlated with the bull rally in the stock market and housing, especially in the last couple of years.

[Eighty]

Those with financial stability will hold. It’s those with no financial stability who will sell out of necessity. Possibly losing money instead of profiting because they need the quick cash.

If you feel that the coronovirus is possibly going to have a negative outcome on the economy. What do you think of the impending recession supposedly hitting us in a couple of months?

[Jhedges]

It’s definitely going to impact the economy. It’s wiped out a ton of money out of the stock market so far and will likely get worse before it gets better. This thing is spreading pretty fast but seems to be less lethal than SARS was and the common Flu has been more deadly this year as well. It’s been a bit crazy even in non affected areas of Asia so I can imagine what it has been like in the areas hit hard.

[cypher]

It depends how bad it is. China is lying. Europe is getting worse. The market and all cards will be down if it's worse than the corrupt media is reporting.

[sethc1020]

Just sounds like its going to be a good time to start buying shortly.

[Spacemanspif]

Originally Posted by cypher

It depends how bad it is. China is lying. Europe is getting worse. The market and all cards will be down if it's worse than the corrupt media is reporting.

lol thanks for drifting off topic. king cheeto gonna make it all better!

[eastbayak]

Sell everything....good to me for a good price

[theleica]

Aren't all cards going absolutely insane right now?

I watched a Giannis Prizm Base RC BGS 9.5 end for $1325 last night. LeBron Topps Chrome RCs are insane.

Jayson Tatum has doubled or tripled or quadrupled (I can't keep up) since playing the Lakers on Sunday.

I don't really check Stephen Curry cards but his seem to be going up as well. Durant? Same thing.

If this impacts cards, now is a great time to unload. Just reload when it is low because I am not sure how any of these prices are sustainable.

[h00perstar34]

When I think of corona virus I think of the South Park Sars episode

[Kobefan]

I'll likely skip on the nationals this year to avoid crowded gatherings.

[marinocollector]

Originally Posted by sethc1020

Just sounds like its going to be a good time to start buying shortly.

QFT. Shhhhh. LOL

[bmf]

Originally Posted by Eighty

Those with financial stability will buy.

FIFY

Originally Posted by sethc1020

Just sounds like its going to be a good time to start buying shortly.

this

[oldschooldude]

It honestly seems like the combined hype of Zion and death of Kobe have changed the hobby for both sealed product and singles. Everything is on the rise, and pretty aggressively too.

[allabtsprt]

Nope! I'm not a fear monger and worry wart. Life will go on. My parents taught me well.

[toughpull]

With Asian economies slowing given their factories and stores closing, there’s no chance this momentum holds. People will hold collections but will not protect their investments by buying more at these prices. Financial markets really just started tumbling on Monday. People haven’t necessarily felt a pocket pinch just yet. If financial markets continue to lose through next week, people won’t value a Giannis base piece of cardboard at 2k with sales tax. The growth of all expensive hobbies will slow a ton.


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[brettmik59]

If a big name celebrity or athlete dies of covid-19, markets will panic unlike anything we've seen so far. Most people are still dismissing this, and time will tell if that's the right approach.

[Arianny_Fan]

For me ebay tax pretty much killed my buying mojo. Its suck a turn off when tax is sometimes double the price of shipping.

[Promethius88]

I can say that for me, personally, it's not going to make a difference. Has my 401k tanked this week.....for sure. It's done it before and rebounded nicely and it will do it again. Just have to ride the roller coaster. Thing is, and I can't speak for everyone, I'm not living off my 401k or stock dividends.
It may drive the prices of some items higher here and there but as said before, it will also provide some great buying opportunities...hopefully!

[thenwhatjk]

I don’t know what you guys are talking about, all cards will go up forever

[thelistofjustin]

Originally Posted by thenwhatjk

I don’t know what you guys are talking about, all cards will go up forever

Oh yeah. I'm gonna retire on Optic blasters. When they are out I'm gonna come here and say, what about the children?

[thelistofjustin]

I dont feel bad for the people who think modern cards will go up forever and we will all get rich selling cardboard. That's just not even logical thinking. I feel bad for the people they convince to do the same.

[smalltown]

It's going to take more than a short term scare to really effect the economy in a real way and in turn the hobby. It would have to be a real recession and i'm talking near a year. This isn't it IMO. Good time to buy stocks though,

[BC81]

My wild theory on this is that high-end sports cards could be similar to gold commodities. During this downturn, investors are pulling money out of stocks and reinvesting into cards. Since cards are pretty liquid, people want to put their money in something. I am seeing all these threads being posted about how Giannis, Lebron, and etc., are seeing sharp uptick in value over the past week.

[Cheken]

I do think the whole thing is blown out of proportion but at same time I hope I'm right. I think plenty of people in this hobby is financially sound and doesn't need to liquidate their 401k etc. At same time, I think most people made a good chunk of their savings or investments on either stocks or real estate. We all know how the stock market is holding up - another take on real estate which is I think will see some impact as well. For myself, I have millions of mortgages to pay interest on every month and if things get worse - my concern is on the tenants ability to pay rent or use it as an excuse not to. I will certainly keep a better control on spending until this thing play out as I have 2 other properties I'm in contract for that will add close to another 2 million in debts. Cash flow is king so the impact is there for sure.

[smalltown]

Originally Posted by BC81

During this downturn, investors are pulling money out of stocks and reinvesting into cards. Since cards are pretty liquid, people want to put their money in something.

During the down turn smart investors are putting their money into the stock market. As the saying goes "Buy the dip".