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2021 Sales for 1986 Fleer Michael Jordan Rookie Card #57 more than $500,000 ?!?!

Yankeefan320Yankeefan320 Posts: 160 ✭✭

According to PSA back in 2021 this card sold for more than $500,,000 several times, some 3/4 of a Million dollars! Most were Goldin auctions. Are these sales for freaking real? At that price for this modern card one could buy 2 houses in some areas of the country. I bet Goldin would not have paid that price back then. Today the price is a fraction of that price.

Comments

  • gorilla glue 4gorilla glue 4 Posts: 105 ✭✭✭

    No

  • @gorilla glue 4 said:
    No

    No as in the prices aren’t real?

  • 82FootballWaxMemorys82FootballWaxMemorys Posts: 1,255 ✭✭✭✭✭
    edited April 9, 2023 11:34AM

    @Yankeefan320 said:

    @gorilla glue 4 said:
    No

    No as in the prices aren’t real?

    Due to both PSA and Goldin now being under the same parent company, these forums are not optimal for a frank discussion on the subject. IMHO try net54 for a more honest conversation of the matter.

    Unless otherwise specified my posts represent only my opinion, not fact.

  • TabeTabe Posts: 5,897 ✭✭✭✭✭

    @Yankeefan320 said:

    @gorilla glue 4 said:
    No

    No as in the prices aren’t real?

    The $738,000 sales were almost certainly not 100% real. They were waaaaaaaaaaaaay above any previous sales and intended to reset the market. And they did (for awhile). The ones that followed might be real.

  • VagabondVagabond Posts: 551 ✭✭✭✭

    Average prices for this card today are in the 160K range. Way below 2021 prices. I also agree these prices reflect a reset (which is good). Today's prices of this card are more in line with the inflation prices we have all been witnessing across the board. From sports cards to groceries, restaurants, insurances and obviously homes. For those who don't remember or weren't collecting before the pandemic, the prices of the 86 Jordans in PSA 10 were under 30K at the time of the 2019 National. But let's not also pretend that the ones which did sell in the 400, 500k ranges weren't actual sales too. I know some folks who did sell theirs during that period and got paid. In short, those who bought and still have theirs didn't do bad - at all - if purchased below the 100k prices. Those who bought during the crazy post pandemic sales lost big time (at the moment).

  • craig44craig44 Posts: 10,215 ✭✭✭✭✭

    there is no way those "sale" prices were legit.

    George Brett, Bobby Orr and Terry Bradshaw.

  • 80sOPC80sOPC Posts: 1,184 ✭✭✭✭✭

    The market is unregulated to there is no way to even define what legit is.

    Not sure if any of you follow Drake and his betting relationship with Stake. He posts huge Stake betting slips on MMA events. Those are legit bets as in I have no doubt they are placed, and paid if won. But this is clearly promotional, he is playing with house money.

    The Goldin Jordan's likely fall into a similar category - I'd bet everything I have they were paid and the transaction was completely legit, from a legal perspective.,...but they sure felt like a marketing campaign to re-launch that auction house. And it worked very well. Doubt the new owners of those cards are out of the money by much, if anything,

  • @80sOPC said:
    The market is unregulated to there is no way to even define what legit is.

    Not sure if any of you follow Drake and his betting relationship with Stake. He posts huge Stake betting slips on MMA events. Those are legit bets as in I have no doubt they are placed, and paid if won. But this is clearly promotional, he is playing with house money.

    The Goldin Jordan's likely fall into a similar category - I'd bet everything I have they were paid and the transaction was completely legit, from a legal perspective.,...but they sure felt like a marketing campaign to re-launch that auction house. And it worked very well. Doubt the new owners of those cards are out of the money by much, if anything,

    Are you suggesting that the Goldin auctions were kind of like Shill Bidding?

  • brad31brad31 Posts: 2,474 ✭✭✭✭✭

    Legit or not - that price will never be sniffed again now that PSA graded Star cards. There is no longer a consensus on the hobby on which Jordan rookie card is most desirable.

  • johfrjohfr Posts: 85 ✭✭✭

    The real question is who is buying these cards even at the current prices. It is not particularly rare at a pop of 319 graded 10. I completely understand that it is one of the most desirable cards. We could go on all day debating where it falls on desirability but I think we'd all agree it's in the top 10, probably top 5. But with 319 of them out there that means you need enough people that can afford these prices. Not too many collectors can afford to drop 6 figures on a card.

  • BBBrkrrBBBrkrr Posts: 884 ✭✭✭✭✭

    @johfr said:
    The real question is who is buying these cards even at the current prices. It is not particularly rare at a pop of 319 graded 10. I completely understand that it is one of the most desirable cards. We could go on all day debating where it falls on desirability but I think we'd all agree it's in the top 10, probably top 5. But with 319 of them out there that means you need enough people that can afford these prices. Not too many collectors can afford to drop 6 figures on a card.

    I think cards at that level of price and desirability go beyond normal collectors and folks use it as an investment vehicle to diversify their portfolios. And it's easier to store than a painting or piece of artwork worth that much.

    That would make it appealing to people outside the collecting community.

  • VagabondVagabond Posts: 551 ✭✭✭✭

    There are a lot of people out there with plenty of funds. Spending 160K on a card in nothing for a lot of people. You even have players like Mike Trout who now collect his own cards. The average MLB player makes over 4 million a year and the bottom is at 700k. I assure you there are players who own cards. They just don't share or post them on YouTube or the forums.

  • GoDodgersFanGoDodgersFan Posts: 1,391 ✭✭✭

    The 1986 Fleer Jordan PSA 10 is an iconic card, but when PSA started grading the 1984 Star Jordan, the Jordan RC landscape completely changed. Where's the bottom? Hard to say, but I don't see it going under 100K.

  • handymanhandyman Posts: 5,225 ✭✭✭✭✭
    edited April 10, 2023 6:05PM

    o:) Market cap 23mill on the 319 Psa 10s my guess 70 k is the bottom.

    What’s the market cap on the 50 t206 wagners today?250mil? If 5 mil each on average? And seems high but I do not own one.
    250mil market cap on the Jordan’s was insaine at 700k each for an 80s card.

    Give me the vintage I’ll take all the wagners please after I win the lotto
    .

  • 82FootballWaxMemorys82FootballWaxMemorys Posts: 1,255 ✭✭✭✭✭
    edited April 10, 2023 6:01PM

    @BBBrkrr said:

    @johfr said:
    The real question is who is buying these cards even at the current prices. It is not particularly rare at a pop of 319 graded 10. I completely understand that it is one of the most desirable cards. We could go on all day debating where it falls on desirability but I think we'd all agree it's in the top 10, probably top 5. But with 319 of them out there that means you need enough people that can afford these prices. Not too many collectors can afford to drop 6 figures on a card.

    I think cards at that level of price and desirability go beyond normal collectors and folks use it as an investment vehicle to diversify their portfolios. And it's easier to store than a painting or piece of artwork worth that much.

    That would make it appealing to people outside the collecting community.

    Reporting it as a Tax loss is perhaps the only appealing thing for those who purchased in 2021 :)

    Unless otherwise specified my posts represent only my opinion, not fact.

  • countdouglascountdouglas Posts: 2,251 ✭✭✭✭✭

    @Vagabond said:
    You even have players like Mike Trout who now collect his own cards.

    This is a valuable piece of information. A little more weight added to the amount of pressure Trouty feels about consistently underperforming in the clutch.

    "I better not strikeout to end the game, yet again, or my card portfolio will take another big hit!"

  • KendallCatKendallCat Posts: 2,959 ✭✭✭✭✭

    The Goldin Jordan's likely fall into a similar category - I'd bet everything I have they were paid and the transaction was completely legit, from a legal perspective.,...but they sure felt like a marketing campaign to re-launch that auction house. And it worked very well. Doubt the new owners of those cards are out of the money by much, if anything,

    Are you suggesting that the Goldin auctions were kind of like Shill Bidding?

    Excellent post and points. Agree that “legally” they probably worked around shill bidding if they were ever taken to court. The fact that Jordan rookies in PSA 10 are not rare like a Wagner or Mantle PSA 8 since they have a pop over 300 plus several could have been purchased at that time on eBay for $180-200k.

    What is suspicious is that despite being able to purchase the card for $225-275k easily Goldin had not 1 but 2 examples sell in the same auction for exactly $738k. Why would someone pay 2-3 times the going rate for a card not once but twice in the same auction🤔 Exactly $738k independent of one another is mathematically impossible so it was most likely manipulated to reset the price on the market. Prior to that event someone probably bought a bunch of 8’s and 9’s for 6-12 months leading up to the 10’s so they could flip them for a profit. Called it at the time and feel bad for people that got hoodwinked.

This discussion has been closed.