1952 Topps Mickey Mantle Investment Partnership
CardsForMS
Posts: 255
since it looks like now is the time to buy expensive cards, i have come up with a 1952 Topps Mickey Mantle parnership.
it would go something like this. 25 partners (collectors) to each invest a minumum of $250. the more you invest, you higher share you hav in the card.
once 25 invertors are in and paid, the best condition 1952 Topps mantle is bopght for the total investment.
the card is ket in a saftey depost box for 12 months. after the 12 months, the card is sold and the unds are distrubited to teh investors based on the % owned of teh card.
Thoughts?
it would go something like this. 25 partners (collectors) to each invest a minumum of $250. the more you invest, you higher share you hav in the card.
once 25 invertors are in and paid, the best condition 1952 Topps mantle is bopght for the total investment.
the card is ket in a saftey depost box for 12 months. after the 12 months, the card is sold and the unds are distrubited to teh investors based on the % owned of teh card.
Thoughts?
0
Comments
Unique Chicago Cards
Wrestling Cards
/s/ JackWESQ
<< <i>Not a bad idea - As long as the money was sent to an attorney, and the card was stored by the attorney...so that there are no thoughts of impropriety towards anyone, then I'd be interested in hearing more. >>
To clarify...The money would have to be sent directly to the attorney, and the card sent directly to the attorney - the attorney would make the final purchase, not any of the partners...under the attorney's ebay account or something like that. No partners ever touch the money or the card, although the card could be inspected at the attorney's office under his supervision.
so far, we have 4 people interested..
this could be a great chance to have a steak in a card if this size.. i am sure most of us could not afford one on our own, much less just keep it for a year for investment.
lets work on this guys.. keep the ideas flowing
I'd be interested just for kicks...I assume there won't be much of a return with just 12 months of marinating in todays economy. Yes it may be time to buy...but time to sell might be a long ways away....how will this conflict with those who are impatient....could cause some controversy.
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Collection: https://flickr.com/photos/185200668@N06/albums
<< <i>although the card could be inspected at the attorney's office under his supervision. >>
1. Is the attorney located on the west coast? east coast? midwest? I suspect the west coast partners would want a west coast attorney so that they wouldn't have to travel as far to inspect the card and the same for east coast and midwest partners.
2. Would all attorneys' fees be equally borne by all partners? Or would the fees be proportional to the respective partner's percentage of ownership of the Mantle?
3. I assume we would want the attorney to bear all responsibility/liability if the card were ever lost, stolen, destroyed, etc.?
4. And most importantly, and also most unfortunately, most attorneys I know are hesitant to be a "depository" of a client's personal property. But if we can find an attorney willing to assume that responsibility, fantastic.
/s/ JackWESQ
Mike
terms are 1 year for investors.. no backing out, once your investment is sent, you are a silent partner
something along these lines..
Here is the trend of a PSA 2: (2008 only)
PSA 2
8/9/08 eBay Auction $6,103.11
7/22/08 eBay Listing $5,900.00
7/14/08 eBay Listing $6,000.00
7/10/08 Huggins & Scott Auction | Image $5,750.00
7/8/08 eBay Listing $5,999.00
4/14/08 eBay Listing $7,000.00
3/9/08 eBay $5,200.00
2/10/08 eBay $5,000.00
12/4/07 eBay $4,650.09
SCG 30
10/6/08 eBay Auction $15,100.00
5/2/08 Heritage $5,975.00
4/29/07 REA $4,993.75
11/30/06 SCP $3,422.00
11/2/06 eBay $4,150.00
Need to get all of the Legal stuff though..
----------------------
Working on:
Football
1973 Topps PSA 8+ (99.81%)
1976 Topps PSA 9+ (36.36%)
1977 Topps PSA 9+ (100%)
Baseball
1938 Goudey (56.25%)
1951 Topps Redbacks PSA 8 (100%)
1952 Bowman PSA 7+ (63.10%)
1953 Topps PSA 5+ (91.24%)
1973 Topps PSA 8+ (70.76%)
1985 Fleer PSA 10 (54.85%)
<< <i>
this could be a great chance to have a steak.... >>
I'm in if we're getting steak.
I read about it over at 54, 54 did not endorse it.
Steve
T222's PSA 1 or better
<< <i>Sounds good. Couple of preliminary thoughts.
<< <i>although the card could be inspected at the attorney's office under his supervision. >>
1. Is the attorney located on the west coast? east coast? midwest? I suspect the west coast partners would want a west coast attorney so that they wouldn't have to travel as far to inspect the card and the same for east coast and midwest partners.
2. Would all attorneys' fees be equally borne by all partners? Or would the fees be proportional to the respective partner's percentage of ownership of the Mantle?
3. I assume we would want the attorney to bear all responsibility/liability if the card were ever lost, stolen, destroyed, etc.?
4. And most importantly, and also most unfortunately, most attorneys I know are hesitant to be a "depository" of a client's personal property. But if we can find an attorney willing to assume that responsibility, fantastic.
/s/ JackWESQ >>
Well you're an attorney so you would know better than me, but I thought attorneys specializing in wills and such were used to storing certain types of property for clients. I guess for the right price most attorneys will do almost anything, but we'd have to be careful not to let the attorney fees eat up all the profits.
Frankly - for me just seeing a scan of the card would be good enough - I wouldn't ever have to see the card in hand. To me this is a profit venture not a collecting venture, so to me it's only about the money.
And yes, all "fees" would be borne equally depending on the share of the partnership.
To emphasize further - complete transparency would have to be the protocol, otherwise count me out - I don't want any auction house holding the card - only an attorney.
<< <i>Is my math correct here? A share of the card would be $250 and you would be looking at buying a $5000 card (PSA 2) or 20 shares. The last year the card has gone up in auctions approximately $1000. After attorney's fees and auction house fees how much could you hope to actually clear on this It seems like you could potentially lose money on the fees if you do not get a 20% increase in the value of the card. Kind of a cool idea, but it seems like the math might not work out. >>
consign to an auction house.. no seller fees.
<< <i>I am a lawyer and I would like to be in. But I suspect there might be many complications in such a partnership.
/s/ JackWESQ >>
//////////////////////////////////////////
Voice of experience:
Rest on the sofa until the idea passes.
This is far from a new idea. The last good-sized one is just finishing its
liquidation; on EBAY. (There have been threads about it here. winpitcher
made note of the one I am thinking of.)
The substitution of a lawyer for a General Partner is the primary weak spot.
Legal fees - which most legit lawyers charge - would likely dwarf the potential
profits on a single card.
I have been in MANY DOZENS of partnerships, and some work well. BUT,
you have to have a trustworthy General Partner, or the thing crashes.
............
Folks who trust Levi would be better off pooling the money, buying Levi's
card, and telling him to hold it.
............
If it was set up properly, I would likely be in.
<< <i>
<< <i>I am a lawyer and I would like to be in. But I suspect there might be many complications in such a partnership.
/s/ JackWESQ >>
//////////////////////////////////////////
Voice of experience:
Rest on the sofa until the idea passes.
This is far from a new idea. The last good-sized one is just finishing its
liquidation; on EBAY. (There have been threads about it here. winpitcher
made note of the one I am thinking of.)
The substitution of a lawyer for a General Partner is the primary weak spot.
Legal fees - which most legit lawyers charge - would likely dwarf the potential
profits on a single card.
I have been in MANY DOZENS of partnerships, and some work well. BUT,
you have to have a trustworthy General Partner, or the thing crashes.
............
Folks who trust Levi would be better off pooling the money, buying Levi's
card, and telling him to hold it.
............
If it was set up properly, I would likely be in.
Yea, but how are ya gonna make money buying and selling Levi's high priced, usually above market value cards? That's a money loser for sure unless a new pill is invented and we can live forever, so time is no object. LOL
<< <i>attorneys specializing in wills >>
I believe larryallen73 is an attorney specializing in Wills & Trust. I think this board and this thread would benefit much from his input. Hopefully he'll chime in sometime today or tomorrow.
/s/ JackWESQ
<< <i>Might be better off pooling 10K and sponsoring Lee at the WSOP. >>
This is most likely true...my issue, other than the obvious ones being discussed, is I have no confidence that this is a profitable measure. I think we can pretty much agree that classically desired vintage has maintained its value, in many cases increasing so during our current market struggles. I will be truly shocked if vintage cards make it through this rebuilding time without too seeing a downward turn. I think 1 year might put it right in the middle of such a turn.
I was interested untill i read Lees' well thoughtout comment.
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I too doubt that a low grade Mantle is the best vehicle.
The higher-grade prices might stick better.
Times are going to be grim. Julian Robertson - Tiger Fund - just said
"85% of Americans are broke or technically bankrupt." He thinks the
situation will prevail for 10 to 15 years.
That is absolutely the worst idea ever. Let's just say I'm the Detroit Lions of the WSOP.
Seriously though, the idea is fine in general but the dollars are way too small to make it worthwhile to me. Let's say I put in $250 and make a 20% return, net of all costs, so now I have $300. Whoooppeeee. Just not worth it. I sort of got to "own" a '52 Mantle for a year and I paid $50. Just not worth it.
Many law firms that do wills and trusts have a safe to store wills. Also, all law firms have attorney-client trust accounts to hold money. I would agree a lawyer is a pretty safe person to be in charge as there is some security. However, I also know many attorneys who have gone off the deep end due to drugs, booze, etc....
In conclusion, I quit. No, no, I meant to say that thought it sounds like a fun idea I would not be one who will be involved.
Good luck to all who participate.
Steve
<< <i>Might be better off pooling 10K and sponsoring Lee at the WSOP.
That is absolutely the worst idea ever. Let's just say I'm the Detroit Lions of the WSOP. >>
LOL - But you couldn't do worse than that guy I think it was two years ago, who at the WSOP, in the very first hand, went all-in with tens full, and got beat when Sammy Farha had aces full.
I gotta agree with some of the others, unless putting in a lot of effort for nickels and dimes intrigues you, and you could even lose money here, then this venture seems like a waste of time and probably a waste of money as well.
Absolute best case senario is what 10-20% profit on the card?
So your max profit is what 25-50 bucks? The risk and headaches will come nowhere close to being worth it for this disastor.
http://sportsfansnews.com/author/andy-fischer/
Matt
Then, you could look at it, sleep with it, show it off, etc...
Your responsibility to send it to the next person on the list.
End of year, you sell.
HOF SIGNED FOOTBALL RCS
for reference it will be like when Bart and Millhouse bought a copy of Radioactive man.
<< <i>this will end badly lol
for reference it will be like when Bart and Millhouse bought a copy of Radioactive man. >>
And Martin Prince!!
+1 for crazy people
im in for 5 with perry,if imin on something like that, i want to touch it,not say i own a corner
cardtarget
<< <i>Isn't there are site that does this sort of thing?
cardtarget >>
Interesting - Never saw that before.
Well, there ya go...the OP can go to town there - own a share of a 52 Mantle PSA 8 for $9.95
I just saw where pandrews tried to buy a 1/2 share. LOL
New York Yankees
CardTarget Items
PSA Top 200 Card
Click For Larger Image
Front | Back
Shares: 415 7 Day Avg. Price: $9.95
IPO Price: $10.00 Last Price: $9.95
Total Owners: 0 Market Cap: $4,129.25
Player(s) Represented: Mickey Mantle
This sophomore Bowman card of Mickey Mantle features one of the most famous paintings of the superstar. While it has never commanded the attention and demand of the 1952 Topps card, the 1952 Bowman is still one of collecting's classic cards. With only 13 cards graded higher, this high grade example provides solid corners, centering, and clarity. In 1952, the Mick started his career batting .311 with 23 home runs taking over centerfield from Joe Dimaggio who retired after the 1951 season. Billy Martin one said "No man in the history of baseball had as much power as Mickey Mantle. No man. You're not talking about ordinary power. Dave Kingman has power. Willie Mays had power. Then when you're talking about Mickey Mantle - it's an altogether different level. Separates the men from the boys."
This item has been sold. Please visit the message board for more information.
This card was sold from the CardTarget Marketplace on May 30, 2008 for $10.50 per share ($4357.5).
415 x $ = $