<< <i>David, this is EXACTLY the climate for prospectors and scammers to come out and make a quick buck (but potentially lose as well). From shorting, to schilling, to not completing transactions, anyone in the market for a Lin card needs to be careful. >>
Curious what you mean by shorting, do people try to sell a card they don't have at what they think the peak of the market is, then stall & hope they can buy it for cheaper quickly? Familiar with it in stocks (but there you have pre-borrows, naked shorting, etc), never knew it was an issue with sports cards too.
In stocks you can simply borrow shares you don't own if they are available and sell them to another investor and be short the stock.
It would not surprise me if someone tried that with cards.
What I meant was this. I bought a card a week ago for say $10. I think it is coming to me and I put it on EBAY prior to having it in my possession using the other sellers scan.
He realizes after the sale that the price has jumped significantly and does not complete the sale with me meanwhile another person is buying the card I thought I was getting.
This will create obvious problems but also create artificial supply and slow the market. Once the sellers who had sold the cards for much cheaper then put there's back for sale you have enough supply to lower prices and many of the under bidders pull their bids and prices collapse.
Mike remember those are paper gains. They are very exciting for sure but not money in the bank.
In a frenzy like this most of the supply will turn over a few times so I would imagine every single one of the 14 you just bought will be for sale at some point to which is artificial demand with the cards never truly leaving the market.
With older low pop cards those are one shot deals with the buyer essentially in many cases removing it from the cards in circulation that could come for sale and this is why the prices of rare cards hold firm and appreciate over time.
D I get it. This isn't the first time and won't be the last. There is a legitimate way to make money if you follow sports. When someone goes hot, the prices increase. Catch it at the start of even the middle you'll always come out on top.
I wouldn't do this if it wasn't worth it. This is my way of making money in this business. I will keep you posted on the final price we realize on the card.
It's all about supply and demand and while the latter is up now, I think it's clear the former will be increasing soon. Hoops ships this week and features a Lin sticker auto in his Knicks jersey. That will be a hot card no doubt (I bet even the base card sells well). I am speculating that Lin will be in every Panini set possible if he's not already. I also expect Upper Deck to get him in at least one set and I wouldn't be shocked to see a special set made for him as well by one or both of those companies.
<< <i>It's all about supply and demand and while the latter is up now, I think it's clear the former will be increasing soon. Hoops ships this week and features a Lin sticker auto in his Knicks jersey. That will be a hot card no doubt (I bet even the base card sells well). I am speculating that Lin will be in every Panini set possible if he's not already. I also expect Upper Deck to get him in at least one set and I wouldn't be shocked to see a special set made for him as well by one or both of those companies. >>
Agreed and this if continued will be a bigger deal than, Strasburg, Bryce Harper, John Wall, Cam Newton, Tebow, etc.
Lin is one of the few Asian Americans in NBA history, and the first American player in the league to be of Chinese or Taiwanese descent.[2] From Wikipedia.
BC of this, there is a much, much larger buying base for his cards. Time will tell...
<< <i>I can say with 100% confidence that buying Jeremy Lin right now is probably one of the worst investments on the planet. >>
1,000,000% disagree.
I bought 14 Jeremy Lin RC Auto's on the 14th. The exact same cards are selling for at least 30 to 50% more than I paid just on the 14th alone. >>
Well, he did say RIGHT NOW (Feb 20th), not Feb 14th. >>
This. And I meant more of an investment for the future as well. Quick flips may still be possible right at this very moment, but I truly think his stuff has nowhere to go but down at these outrageous prices. Will that $20,000+ card/25 be worth $20,000+ in a year or two? I HIGHLY doubt that. I wouldn't touch his cards at these prices in hopes of anything more than a VERY quick flip and personally, I wouldn't buy anything of Lin's at ALL right now.
1) Lin is one of the few Asian Americans in NBA history, and the first American player in the league to be of Chinese or Taiwanese descent.[2] From Wikipedia. 2) He plays in NYC.
Cory ---------------------- Working on: Football 1973 Topps PSA 8+ (99.81%) 1976 Topps PSA 9+ (36.36%) 1977 Topps PSA 9+ (100%)
I did buy one of his Panini Contenders patches autographs yesterday because I checked the newly listed and one had just been listed at $220 BIN. I instantly clicked it because they were going for close to $300.
<< <i>I give you credit for buying from a guy with 1 feedback. I hope it turns out well. >>
He's already contacted me and it's going out tomorrow. He's been a member for a long time, just never sold. At any rate, what's the worst that could happen? I lose $220, lol.
What if Lin signs in the offseason for some team outside of NY like Memphis, Utah, Milwaukee, etc. (just using them as an example, not saying them for real)? It seems that alone could cool his cards.
Has anyone noticed all the "keyword Spamming" going on...that didn't take long and it drives me crazy.
Several auctions have "Not Lin and Not Linsanity" listed in the titles of their auctions.
My daughter was diagnosed with type 1 diabetes at the age of 2 (2003). My son was diagnosed with Type 1 when he was 17 on December 31, 2009. We were stunned that another child of ours had been diagnosed. Please, if you don't have a favorite charity, consider giving to the JDRF (Juvenile Diabetes Research Foundation)
There's a lot of money in Taiwan. I wouldn't be surprised if the bulk of the bidding is coming from overseas. Having said that, I think I'd rather have PSA 8 RCs of Clemente, Aaron, Koufax, Kaline and Banks instead.
That's just plain stupid. Let's say he continues this most unlikely course and one day is in the hall of fame. Let's just say. Then what? Even in that series of events, which will not happen, I can't see this card being worth more than a few thousand. In all likelihood he works one good contract out of this, is out of the league in 3 years and this is a ten dollar card! It will be for the memories; sort of like my PSA Joe Charboeneau rookie cards!
<< <i>Let's say he continues this most unlikely course and one day is in the hall of fame. Let's just say. Then what? >>
$100,000,000.00!
So basically my kid won't be able to go to college, but at least I'll have a set where the three most expensive cards are of a player I despise ~ CDsNuts
I did put an offer in on that PSA 10.... No response yet.
Edit: Again I've learned when you can make 10, 20, 30 percent it's better than trying to go for the home run. Just have to use the Law of Large Numbers. And keep doing it over and over...
our dollar aint worth squat over sea's and there is alot of rich foreigners,, but this is simple,, lets show by raise of hands,, do you wish you had this same deal going on?,, if you raised your hands your jeoulous,, lets face it,, i know i am a little, well alot,, so let them enjoy the spoils, someone is gonna loose there money on this, im just glad it isnt me,,,j
There have been a ton of these hot auctions where the winning bidder does not pay. When you talk about a deal to much before it closes you are asking for it in life.
I just read through the auction and he has all of the links to the media outlets coverage. I just watched a few and this guy already has the money spent.
When the top bidder does not respond to his payment requests it would be very funny to see the look on his face. If this gets auctioned a second time 25% of the price or less.
Remember the Strasburg got bid to $1,000,000 and sold for $16,000.
The seller got a negative feedback today to drop him to 96%. That's not going to help him hit his reserve, whatever it may be.
'Sir, I realize it's been difficult for you to sleep at night without your EX/MT 1977 Topps Tom Seaver, but I swear to you that you'll get it safe and sound.' -CDs Nuts, 1/20/14
<< <i>The seller got a negative feedback today to drop him to 96%. That's not going to help him hit his reserve, whatever it may be. >>
I don't know what the truth is, but the person who left him the negative on a different Lin card today also left another negative on a different Lin card from another seller today. Coincidence?
Regardless, you're right, it will hurt the hammer price, but probably not a heck of a lot since the card is already graded.
Interesting- I didn't notice that. This doesn't seem to be a person who leaves a lot of negatives, and then he drops negs on two different sellers in the same day- both for 1K+ Jeremy Lin cards. It could be a coincidence- the buyer only has one item for sale right now, and it's not a Lin card.........
Maybe the larger issue here is that it is never advisable to describe a raw card as "gem mint" when you are attempting to sell it.
'Sir, I realize it's been difficult for you to sleep at night without your EX/MT 1977 Topps Tom Seaver, but I swear to you that you'll get it safe and sound.' -CDs Nuts, 1/20/14
<< <i>I just read through the auction and he has all of the links to the media outlets coverage. I just watched a few and this guy already has the money spent.
When the top bidder does not respond to his payment requests it would be very funny to see the look on his face. If this gets auctioned a second time 25% of the price or less.
Remember the Strasburg got bid to $1,000,000 and sold for $16,000. >>
That makes me feel better about turning down a $60 offer for my Billy Ripken FF card in 1989. LOL. I held onto it for 20 years and then graded it and sold it as a 9 for $35. I only lost about $30 and 20 years. If that Lin card doesn't sell to a legitimate buyer, I'm sure the seller will end up getting much less than the current auction price. Linsanity is peaking. Time to sell now!
I wonder what effect the sale price on these will have on key Exquisite AU/JSY cards and future National Treasure cards. I would also imagine that any future asian NBA Prospects will see high prices upon release.
Comments
<< <i>David, this is EXACTLY the climate for prospectors and scammers to come out and make a quick buck (but potentially lose as well). From shorting, to schilling, to not completing transactions, anyone in the market for a Lin card needs to be careful. >>
Curious what you mean by shorting, do people try to sell a card they don't have at what they think the peak of the market is, then stall & hope they can buy it for cheaper quickly? Familiar with it in stocks (but there you have pre-borrows, naked shorting, etc), never knew it was an issue with sports cards too.
<< <i>I can say with 100% confidence that buying Jeremy Lin right now is probably one of the worst investments on the planet. >>
1,000,000% disagree.
I bought 14 Jeremy Lin RC Auto's on the 14th. The exact same cards are selling for at least 30 to 50% more than I paid just on the 14th alone.
Here is one I bought... Lin Absolute Spectrum Auto /25
Here are the last two that sold yesterday...
Sold yesterday for $2,000
And another one sold yesterday as a BIN for $2,000 as well..Another BIN
"Live everyday, don't throw it away"
It would not surprise me if someone tried that with cards.
What I meant was this. I bought a card a week ago for say $10. I think it is coming to me and I put it on EBAY prior to having it in my possession using the other sellers scan.
He realizes after the sale that the price has jumped significantly and does not complete the sale with me meanwhile another person is buying the card I thought I was getting.
This will create obvious problems but also create artificial supply and slow the market. Once the sellers who had sold the cards for much cheaper then put there's back for sale you have enough supply to lower prices and many of the under bidders pull their bids and prices collapse.
In a frenzy like this most of the supply will turn over a few times so I would imagine every single one of the 14 you just bought will be for sale at some point to which is artificial demand with the cards never truly leaving the market.
With older low pop cards those are one shot deals with the buyer essentially in many cases removing it from the cards in circulation that could come for sale and this is why the prices of rare cards hold firm and appreciate over time.
I wouldn't do this if it wasn't worth it. This is my way of making money in this business. I will keep you posted on the final price we realize on the card.
"Live everyday, don't throw it away"
Good luck and I hope you makes some quick cash and someone else is left holding the bag.
<< <i>
<< <i>I can say with 100% confidence that buying Jeremy Lin right now is probably one of the worst investments on the planet. >>
1,000,000% disagree.
I bought 14 Jeremy Lin RC Auto's on the 14th. The exact same cards are selling for at least 30 to 50% more than I paid just on the 14th alone.
>>
Well, he did say RIGHT NOW (Feb 20th), not Feb 14th.
<< <i>It's all about supply and demand and while the latter is up now, I think it's clear the former will be increasing soon. Hoops ships this week and features a Lin sticker auto in his Knicks jersey. That will be a hot card no doubt (I bet even the base card sells well). I am speculating that Lin will be in every Panini set possible if he's not already. I also expect Upper Deck to get him in at least one set and I wouldn't be shocked to see a special set made for him as well by one or both of those companies. >>
Agreed and this if continued will be a bigger deal than, Strasburg, Bryce Harper, John Wall, Cam Newton, Tebow, etc.
Lin is one of the few Asian Americans in NBA history, and the first American player in the league to be of Chinese or Taiwanese descent.[2] From Wikipedia.
BC of this, there is a much, much larger buying base for his cards. Time will tell...
"Live everyday, don't throw it away"
<< <i>
<< <i>
<< <i>I can say with 100% confidence that buying Jeremy Lin right now is probably one of the worst investments on the planet. >>
1,000,000% disagree.
I bought 14 Jeremy Lin RC Auto's on the 14th. The exact same cards are selling for at least 30 to 50% more than I paid just on the 14th alone.
>>
Well, he did say RIGHT NOW (Feb 20th), not Feb 14th. >>
This. And I meant more of an investment for the future as well. Quick flips may still be possible right at this very moment, but I truly think his stuff has nowhere to go but down at these outrageous prices. Will that $20,000+ card/25 be worth $20,000+ in a year or two? I HIGHLY doubt that. I wouldn't touch his cards at these prices in hopes of anything more than a VERY quick flip and personally, I wouldn't buy anything of Lin's at ALL right now.
Two items which are driving the prices:
1) Lin is one of the few Asian Americans in NBA history, and the first American player in the league to be of Chinese or Taiwanese descent.[2] From Wikipedia.
2) He plays in NYC.
----------------------
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%)
Lin some lose some
<< <i>I give you credit for buying from a guy with 1 feedback. I hope it turns out well. >>
He's already contacted me and it's going out tomorrow. He's been a member for a long time, just never sold. At any rate, what's the worst that could happen? I lose $220, lol.
Several auctions have "Not Lin and Not Linsanity" listed in the titles of their auctions.
My daughter was diagnosed with type 1 diabetes at the age of 2 (2003). My son was diagnosed with Type 1 when he was 17 on December 31, 2009. We were stunned that another child of ours had been diagnosed. Please, if you don't have a favorite charity, consider giving to the JDRF (Juvenile Diabetes Research Foundation)
JDRF Donation
PSA 10 Jeremy Lin
This won't last long at that price!!!
<< <i>Someone better act fast the first PSA 10 just showed up at the bargain price of $17,888.88 LOL
PSA 10 Jeremy Lin
This won't last long at that price!!!
I wonder if card #7/25 has been pulled. That could be a million dolar card. lol
If it does, that would truly be linsanity.
<< <i>Let's say he continues this most unlikely course and one day is in the hall of fame. Let's just say. Then what? >>
$100,000,000.00!
<< <i>
<< <i>Someone better act fast the first PSA 10 just showed up at the bargain price of $17,888.88 LOL
PSA 10 Jeremy Lin
This won't last long at that price!!!
I wonder if card #7/25 has been pulled. That could be a million dolar card. lol >>
you mean 17/25?
Edit: Again I've learned when you can make 10, 20, 30 percent it's better than trying to go for the home run. Just have to use the Law of Large Numbers. And keep doing it over and over...
"Live everyday, don't throw it away"
Would you have said that 2 weeks ago if you saw someone paid 10k for it?
<< <i>4to1 if they lose to NJ worst team ever. But Kris was looking ok the last few games. Gona be a fun game with anthony back tonight. >>
Nailed it
Lin card
Rare to see ESPN feature involving a particular card or eBay auction (!!)
Michelle said that "Now we know that the baseball card market, I mean, pretty much fallen off a cliff in the last 20 years or so" (!!!)
I suppose she's not aware of vintage material (???)
There have been a ton of these hot auctions where the winning bidder does not pay. When you talk about a deal to much before it closes you are asking for it in life.
My Podcast - Now FEATURED on iTunes
When the top bidder does not respond to his payment requests it would be very funny to see the look on his face. If this gets auctioned a second time 25% of the price or less.
Remember the Strasburg got bid to $1,000,000 and sold for $16,000.
Prior Listing
looking for low grade t205's psa 1-2
News Story
Look how badly the autograph went off the sticker at the bottom... and it still went for more than a 1952 Mantle...
-CDs Nuts, 1/20/14
*1956 Topps baseball- 97.4% complete, 7.24 GPA
*Clemente basic set: 85.0% complete, 7.89 GPA
<< <i>The seller got a negative feedback today to drop him to 96%. That's not going to help him hit his reserve, whatever it may be. >>
I don't know what the truth is, but the person who left him the negative on a different Lin card today also left another negative on a different Lin card from another seller today. Coincidence?
Regardless, you're right, it will hurt the hammer price, but probably not a heck of a lot since the card is already graded.
It could be a coincidence- the buyer only has one item for sale right now, and it's not a Lin card.........
Maybe the larger issue here is that it is never advisable to describe a raw card as "gem mint" when you are attempting to sell it.
-CDs Nuts, 1/20/14
*1956 Topps baseball- 97.4% complete, 7.24 GPA
*Clemente basic set: 85.0% complete, 7.89 GPA
<< <i>I just read through the auction and he has all of the links to the media outlets coverage. I just watched a few and this guy already has the money spent.
When the top bidder does not respond to his payment requests it would be very funny to see the look on his face. If this gets auctioned a second time 25% of the price or less.
Remember the Strasburg got bid to $1,000,000 and sold for $16,000. >>
That makes me feel better about turning down a $60 offer for my Billy Ripken FF card in 1989. LOL. I held onto it for 20 years and then graded it and sold it as a 9 for $35. I only lost about $30 and 20 years. If that Lin card doesn't sell to a legitimate buyer, I'm sure the seller will end up getting much less than the current auction price. Linsanity is peaking. Time to sell now!
Edited to add - 100!