Dmitri Young's cards

Tomi

It is reported that he spent $5,000,000 on his collection and it sold for $2,400,000 in the SCP auction. What the hell did he buy that amounted to $5,000,000. If these reports are accurate then he must be the worst investor ever. I just have a hard time believing he spent $5,000,000 on that collection but that's what has been reported that he spent. Can anyone confirm the numbers? I know money is no object sometimes but the numbers are just crazy.

tsalems1

Where did you get this info?

Tomi

It's on a couple of sites. I just googled "how much did Dmitri Young spend on his collection" and the $5,000,000 was reported on some of the sites.

pmcollectour

many things are "reported"

fur72

Could be accurate. You have to understand, he wasnt on ebay buying these things. He was paying a person to find these cards and alot of the time it meant the person would fly to the collectors house who was selling the card. So there are alot of expenses involved other than the price of the cards. Also there were times when his finder would get to a site to purchase a card and the individual would have second thoughts and back out. Those would be considered loses. There was a whole article on it in SMR a few years ago, it was pretty interesting.

Edit to say, can anyone find the article or scan it?

NVM found it SMR Meet Dmitri Young 2008

Tomi

I found it on thebiglead.com. Just type in Dmitri Young in the search on their site. That's why I asked if anyone can confirm. The numbers just don't add up for that collection.

ThoseBackPages

we'll never know

swartz1

Pretty sure he didnt sell everything...

miconelegacy

<< <i>Pretty sure he didnt sell everything... >>



I would think this as well. Also I'm sure he submitted many of cards, and someone had to have been selling for him to. He loved opening vending cases of product, so where did all that go.

1954

I am sure a dealer or two sold him some big cards which was much higher than what they were worth.

Dpeck100

He obviously has not sold them all. If you read through that article he makes reference to a 1959 Norm Cash where he owns five of the nine PSA 9's in the population report.

This auction was for only PSA 10's so I wold suspect he is either moving cards on the private market or is holding on to some for the time being.

StarPaxMan

Do you think re's going to tell the truth and pay taxes on 2.5 million?????

Brick

<< <i>Do you think re's going to tell the truth and pay taxes on 2.5 million????? >>


I'm would think he has highly paid tax advisers who would keep him out of trouble by following the letter of the law and at the same time keeping his taxes as low as possible. I can certainly see his expenses eating up nearly if not all of the profits.

firedawg45

i think he lost almost 20,000 on the rose rookie, he bought it for 180,000 and it soold for 163,000 i think.