Bear Market?

cards651 · July 18, 2011 3:49AM

Perhaps obvious that prices for cards (and most other collectibles, houses etc.) are down. However, I found it interesting that one of the top collectors seems to be cashing out a bit. Steve Soloway was featured in an SMR article not too long ago and sounded pretty bullish at the time. He was quoted as saying he would never sell any cards and I cannot fault him for lightening the load a bit (perhaps his financial adviser talked some sense into him) but I can't help but wonder if even the big collectors are a bit nervous in this economy. Anyway, thought it was interesting.

Steve Soloway Sets

MCMLVTopps · July 18, 2011 6:02AM

my 2 cents...I think the market is in a general slump overall. However, it may well be that owners need the coin they have tied up in cards for whatever reason. I follow 55 Topps BB mostly and am amazed at the volume of cards up in PSA 7 and 8s. Odd how people list their cards, but I won't go into all that. May well be that jobs have been lost or layoffs have come unexpectedly and difficult as it may be, people are simply selling because they need the money for perhaps household necessities.

It is also simple Econ 101, more supply = lower prices. I recall not many years ago you'd only see 30-40 or so 55 Topps PSA 7s up. Now it's well over half a thousand. The market in turn is flooded with mostly commons which once sold in the mid $30+ range are now often selling in the teens.

I must say I am also a seller of my 55T set (#14 in the Registry). However, I am in no rush, don't necessarily need the money, but am at a point in my life where I think it is time to have someone else enjoy these cards. You can actually "see" my set by searching eBay for the listing...scroll to the bottom and you will see a pic of all the cards in their wonderful glory.

I think the market will return, may take a while, but if you are positioned in good cardboard you should do well in time.

CollectorAtWork · July 19, 2011 1:39AM

Out of curiosity, how do you know Steve is selling his cards? Which auction house (or ebay) are they listed?

cards651 · July 19, 2011 4:28AM

I don't know for sure. I just happened to notice that his '69 set was retired. I was #21 for a long time and I always had to click the 'View Current Finest' to see my set. All of a sudden, my set was 20th. I looked over the All Time Finest and saw that his set was retired. I looked at his sets and a few others were retired as well. I assume they are being sold but I don't know how or where. - Kevin M.

vettfanatic · July 24, 2011 4:27AM

This thread got me looking at Soloway's sets to see which ones had been retired. I'm shocked to see he retired his T-206 set. He was the first to complete it and the only other collector beside Donald Spence. That's a major set for him to let go. Have to wait and see if it comes up for auction or not.

alnavman · July 26, 2011 9:33AM

I think that the economy has brought more cards to the marketplace.....but if it turns around you'll see a gradual start back in the opposite direction....I had to sell almost all of my collection when I retired, which happened to correspond with the stock market going in the toilet.....but unforseen house expenses and car repairs surfaced and I needed the money at the time.....

cards651 · July 27, 2011 1:44AM

Happened to see this story today. It was picked up by the Associated Press:
Chicago Tribune Article

While it does not specifically mention sports cards, the general concept of investing in hard assets would apply. I guess there is some good news out there...

RonBurgundy · July 28, 2011 1:03PM

Lol that 1 collector selling off his collection could constitute a bear market

Southsider · July 28, 2011 9:08PM

I think perhaps the OP was using that collector as an example or bellwether of the overall market condition.

I know that I've been able to find more cards available for the sets I collect over the past 6 months or so. What has been your experience?

gemint · July 29, 2011 4:17AM

<< <i>Lol that 1 collector selling off his collection could constitute a bear market >>

Agreed. I was surprised to see Branca re-entered with a top notch 1952 set showcased in the registry awards insert in the SMR. He had divested many of his cards five or so years ago. People will come and go.

Wabittwax · July 30, 2011 4:59AM

Fact is that there are many many people that would love to collect more cards, complete more sets, etc. But economic issues have forced them not to. If the economy rebounds, I'd expect full steam ahead again. The demand is still there, just not the expendable dollars. For instance I'd love to put together a 1933 Sport Kings set someday. I love that set. But I have way to many other things going on right now that the money would be better spent on, so it will wait. When my tasks are accomplished or the money starts flowing like water, I'll pursue it at that point. I'm guessing there are many people like me.

hhmag70 · July 30, 2011 6:23AM

Retiring a set does not mean the owner is definately selling.

stevek · July 30, 2011 11:44AM

Yea, everything is in a bear market except for the cards I've been looking to buy, and I wish I was kidding. LOL

Brick · July 31, 2011 1:06AM

<< <i>Yea, everything is in a bear market except for the cards I've been looking to buy, and I wish I was kidding. LOL >>

Sad but true.

pmcollectour · July 31, 2011 8:14AM

Most of my spare change has been invested in gold and silver. I have just now begun to reinvest in the sports card market.
I feel that now is the best time to be a buyer. Perhaps prices will get a little cheaper down the road, but I'm very happy with what I'm
paying right now.

CollectorAtWork · August 25, 2011 2:56PM

Looks like Memory Lane has picked up Soloway's collection: Link

cards651 · August 27, 2011 1:10AM

Does not seem like the time to be selling unless you think things can only get worse. That is a huge collection to put on the market. Mint State is also actively selling a huge collection from JJetJ. Combined, that is a good amount of high-end cards that are no longer wanted by the owners. Happy to see JJetJ sell off as these sets were always hidden anyway. Good riddance. Somewhat disappointed in the Steve S. sale as he made such a huge deal of being a 'top collector' and having never sold a card. Where have you gone Joe DiMaggio...

CDC4 · August 27, 2011 6:19AM

It should be interesting what the asking price will be and what they will be sold for.

I'm interested in some sets but I'm looking for pieces. I think most on this board would agree.

CollectorAtWork · August 29, 2011 3:30PM

In a way, I don't think the biggest card is the T206 Wagner or the M101-5 Ruth, but actually the T206 Doyle, which very rarely ever makes it to auction. I wouldn't surprised to see this card close in or break the million mark.

Bear Market?

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