Partial Shares on Cardtarget.com

BubblesInTheShed

Being married to a spending machine, my ability to purchase 5K-10K high grade vintage is limited. I just stumbled across cardtarget and saw what he was doing there and thought I would pose the Q here for some expert opinion.

I rarely post, but I read everyday. You guys are amazing, the wide variety of what you collect and your deep knowledge.
Keep up the great conversations.

lawnmowerman

So whats the question? If its about spam, then yes. I like mine with eggs.

felix76

Kind of foolish to me.

Why would you want to own "shares" in a card? You'll never be able to appreciate the card in hand.

It just seems like another way for them to make money.

BubblesInTheShed

ahem..... like I said, I dont post much. I guess my question was what your opinions are on how feasible this is. The cards currently available are quite nice. Do any of you currently have anything invested in this, or would any of you consider it?

onlyanumber

I'll be one of the first to take a crack at this topic. For anyone not familiar with cardtarget, Cardtarget is a website that was initially launched as an aid in the buying and selling of Etopps cards, whereby you would save some money in buying selling Etopps cards on them instead of Ebay. It was done initially through Ebay but with .01 private auctions. With the fact that Etopps has jumped the shark, the guys over at Cardtarget have recently parttaken a new endeavor--a partial shares market. In laymans terms, you buy a share of a high dollared card--a 1941 Ted Williams PSA 8, a 1948 Bowman Yogi Berra GAI 9 etc,. The cards offered at IPO are high dollar cards--$5000+ and shares are priced at $10.00 to the maximum of the original purchase price of the high dollared card. Then after shares are sold out at IPO, they can be bought and sold on the market like Etopps cards are. The cards are insured and stored in a safe deposit box and if an offer ever comes up on one of the IPOed cards, once sold it will be split equally among shares (at a profit of course).

I have done thousands upon thousands of dollars in business on Cardtarget with the buying and selling of Etopps cards and trust Mike and Jason over there with everything from my paypal and Ebay information to my Etopps information. I never had a problem with them and they are top notch guys.

I initially bought into several of their IPOs--the 39 Williams, the 41 Williams and the Mantle card. I have subsequently sold off my shares (at a profit thankfully) as too many questions over legalities came up (is it a security etc.) and I'd rather watch this from the fence now. Not to mention the fact that I believe Etopps jumped the shark and I decided to sell off all of my Etopps cards, so without having an Etopps portfolio, I had no reason to go to cardtarget anymore.

Edit to add: As with any item--buyer beware. You will never get to hold the card in your hands. You will only get to look at a computer screen and say 'look honey, I own .39% of that card'.

lawnmowerman

BubblesInTheShed, I was just kidding you. Dont take me seriously

lawnmowerman

Too much Wall street stock market feel. I have to agree with felix76. It sounds pretty foolish to me as well. I would rather save my pennies and buy what I want outright.

wolfbear

My advice :
Buy cards you can actually afford to own and hold in your hand.

If you want to gamble, go to Vegas or Atlantic City ...

lawnmowerman

<< <i>My advice :
Buy cards you can actually afford to own and hold in your hand.

If you want to gamble, go to Vegas or Atlantic City ... >>

Well said!

GeoffEighinger

Good lord. Cards sure have come a long way from the put-the-mantle-in-the-spokes days.