M. Jordan 1986 Fleer PSA 10
pootshwan
Posts: 85 ✭✭
One is at true auction right now on eBay: Jordan 1986 Fleer PSA 10
I've added this one to my watchlist just to see where it ends.
Since the Goldin record breaking sale of $738,000 these have come back down a little with last few sales. What do you think the main reason for that was?
When (if ever) do you think this card will break through the $1,000,000 threshold?
Frank Thomas collector
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I remember saying it would hit 100k and was called crazy... imo it’s gonna keep dropping. 500k is nice but the pop is just too high 300+ 10’s
Rare cards like the prism jewel will keep going up tho / supply & demand
The 85 Nike 9 went from 14k to 7k in a month
I think the cause for the perceived pullback is that the high sale was more of a publicity stunt or perhaps more euphemistically said, a PR move. It is worth noting the waters on the other grades have also receded as of late.
The Goldin sales were BS IMO. One of them "sold" to one of his new investors.
Goldin has a long history of hobby shenanigans. The fact that he is a hobby darling again say something about the state of the hobby
I also believe that Goldin have folks on the blowout boards pumping that card evetime they have one available at auction. I found it odd that Ken Goldin was on the MJ boards the night after those two 700K sales seeing what peoples thoughts were on those record breaking sales.
As we all so well know...There is no governance or control framework over the highest opportunity side of the hobby. One of my friends who laughs at my card obsession recently asked me who PWCC is bc they saw an article about their index.
So many new, uninitiated and uninformed investors and they are easy plays. That I can appreciate. (See REDDIT on short squeeze ideas - see me playing pink sheets 20y ago).
What strikes me is the energy that has been generated from more learned hobbyists. Those of us who are getting all caught up. No one wants to miss out. I’ve fallen victim myself, though without the bankroll to do any real damage.
I do hope for a return to “normalcy” at some point. Elevated price levels are likely here to stay, new floors established, but the flagrant “shenanagins” that Matty cites is just overwhelming.
Just my $.02
John
Yep. Kefsala imo is a Goldin employee or cheerleader. Sits there and watches auctions and every bid is greeted with the enthusiasm of the 1969 landing on the moon. Some people stating 8’s are going to be $48k and 9’s $100k is either fraudulent advice or pump and dump. 8’s are sitting in the $11-14k range and 9’s are $45-47k now - far cry from 8’s at $31k and 9’s in the $75-90k range.
auction software from 2003 and his site crashing 30 mins before each auction ends is more of a concern to me. these new fish don’t know what a snipe bid is and my own personal it guy can start my car from his laptop. I bet he could very easily hack ken’s archaic software in the time it’d take him to pop off a round after his morning coffee. 40 million dollar infusion and still running an auction house w aol dial up? cmon.
and the “server” crashes just keep coming. name any other auction houses whose site crashes every time just 30 mins prior to extended bidding?
“Oops, sorry again guys. just hold tight. I got my IT guys going in to “fix” the system. again. but as a courtesy to all our consignors and you bidders, we are gonna extend the bidding time an additional hour and a half. juuuuust for you”.
it’s not like it’s something new. put 2 and 2 together.
Blurry nailed it. We just need to look back at the vintage Shop At Home Network footage for a few minutes to recognize that cringeworthy hucksterism is what’s behind today’s “server crash and bonus extended bidding” move. Just plays in a grifter’s playbook.
It is as childishly transparent as my kid telling me he brushed his teeth before bed, when he clearly didn’t. The site crash is supposed to make us think, “Wow, it’s a FRENZY! So many people bidding the site can’t even handle it!” Then when we are allowed to bid more, we’re so pumped up.
As someone also nailed above, when investors in the company are bidding cards to anomalous highs and then brandishing them on social media, it’s become The Wild West.
yep. and what’s more concerning is that it only takes something like this to undermine a perfectly healthy market to the point that the paranoia ripples would have negative effects throughout the entire market. not just in collectibles, but there’s plenty of honest money out there. I’d rather pick up quarters all day every day for the rest of my life than steal a quick hundred bucks once or twice.
Yep, Blurry nailed it. As an IT guy, this simply would not continue to happen without people getting fired. I can’t be certain without knowing what’s on the back end, but it’s too easy to spin up new servers these days to handle the load. They’re just using it to get people fear bidding when things fire back up.