The Economy Must Be Improving
PSARich
Posts: 534 ✭✭✭
Yesterday morning I was the high bidder on 14 of 17 eBay auctions. At least 8 of my bids were above SMR as well as the recent amount that many similar population cards have been selling for. When I checked in last night I was the winner of zero auctions and many of the closing (winning) bids far exceeded what I anticipated. The market for PSA 9 baseball from the 1960's appears to be healthy. Discretionary funds must be on the rise and hopefully the economy too. I can't complain too much because a week or so ago I won several cards at quite a bit below my bid.
It has been said on these Boards many times by those who have been at it for a good amount of time that timing sometimes impacts auction results as much as the factors we would think most impact the final sales price. If that was the case last night, I wish I would have been a seller and not a buyer!
It has been said on these Boards many times by those who have been at it for a good amount of time that timing sometimes impacts auction results as much as the factors we would think most impact the final sales price. If that was the case last night, I wish I would have been a seller and not a buyer!
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Comments
Under every other economic situation, rare collectibles will always rise in value.
If you do not hear from me in a while, please forward this post to the LVPD, tell them my wife did it!
<< <i>When you think about it, how could card values not be increasing? Collectibles are supposed to increase in value with inflation. With the monetary policies being practiced since the last recession, the money supply has been greatly expanded. That should translate to higher values for collectibles, assuming the supply remains relatively fixed. With few safe havens for investments, I'm surprised more people aren't jumping into collectibles (art, cars, memorabilia). Money in the bank nets you 0.1%, stocks are volatile and soon to be taxed more heavily and bonds are even risky propositions now that cities are starting to go bankrupt. Having a portfolio of rare/scarce collectibles should be part of every investment portfolio. >>
Still waiting for the inflation...
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<< <i>When you think about it, how could card values not be increasing? Collectibles are supposed to increase in value with inflation. With the monetary policies being practiced since the last recession, the money supply has been greatly expanded. That should translate to higher values for collectibles, assuming the supply remains relatively fixed. With few safe havens for investments, I'm surprised more people aren't jumping into collectibles (art, cars, memorabilia). Money in the bank nets you 0.1%, stocks are volatile and soon to be taxed more heavily and bonds are even risky propositions now that cities are starting to go bankrupt. Having a portfolio of rare/scarce collectibles should be part of every investment portfolio. >>
Still waiting for the inflation... >>
The frog at present enjoys their warming bubble bath .---- Sonny
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<< <i>When you think about it, how could card values not be increasing? Collectibles are supposed to increase in value with inflation. With the monetary policies being practiced since the last recession, the money supply has been greatly expanded. That should translate to higher values for collectibles, assuming the supply remains relatively fixed. With few safe havens for investments, I'm surprised more people aren't jumping into collectibles (art, cars, memorabilia). Money in the bank nets you 0.1%, stocks are volatile and soon to be taxed more heavily and bonds are even risky propositions now that cities are starting to go bankrupt. Having a portfolio of rare/scarce collectibles should be part of every investment portfolio. >>
Still waiting for the inflation... >>
The frog at present enjoys their warming bubble bath .---- Sonny >>
Pardon me- I'll quit poking sticks at the bubble.
Enjoy those short positions on Treasury securities. It worked out great for Bill Gross!
BTW, for those interested, here's the MIT billion price index. I know, I know-- it all runs contrary to the idea that 'oh my God we're all gonna die and this country's being run by irresponsible socialists who are degrading-- degrading, I tell you!-- the U.S. dollar and we're turning into Post WW1 Germany and thank God Ron Paul tells it like is and....', so you'll dismiss it outright, but hey- all I can do is present the numbers.
DAILY ONLINE PRICE INDEX
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Why are the initials SMR being used when it is utterly useless?
<< <i>PSARICH,
Why are the initials SMR being used when it is utterly useless? >>
I don't think PSARICH is using the SMR; but we'll find out......PSARich can I buy the PSA 8 1971 Raymond from you for $375? Not sure the last time I saw a PSA 8 71 Munson at $575; but I'll take 1 of those if you have it. I'm actually kind of kidding with PSARich and he may be kidding with us.
I mentioned SMR as a reference point "as well as the recent amount that many similar population cards have been selling for." I have been known to give SMR a glance but always reference the pop report and past sales/completed auctions as much as I can when bidding. I keep notes on graded cards I really want to add to my collection. I would have to disagree that SMR is "utterly useless" simply because it is the base by which many dealers price their cards. How many times all the National or other large shows do you peruse graded cards at a dealer's table that has a sign "25% off SMR" or ungraded cards with a sign "80% of Beckett prices". Point being many dealers and collectors reference SMR or Beckett as the basis for setting their prices. Therefore one has to have a working knowledge of what credence, or lack of credence as many believe, that SMR and Beckett have. For me, it is valuable to understand SMR prices and the limitations that any price guide has simply because others give some value to the information.
So my confession is that I do reference SMR from time to time. I hope my credibility hasn't slipped too much.
An interesting story. A couple years ago at the National in Chicago I was going through binders of 1969 Topps cards. I found a beautifully centered Lou Brock in NM-MINT condition. The seller wanted 75% of the Becket price. I shared with him that this card was very difficult to find with centering this nice and he could probably get a premium for it should he have it graded. No, he said, Beckett says it's worth this much so you can have for 25% off like the sign says. He continued that he didn't need a grading company to tell hime the condition or value of a card. I don't remember what I paid but it wasn't a whole lot. It now sits in a PSA 8 holder. For many collectors/dealers the Beckett or SMR price guides are their "bible", whether the price listings are accurate or not.
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<< <i>When you think about it, how could card values not be increasing? Collectibles are supposed to increase in value with inflation. With the monetary policies being practiced since the last recession, the money supply has been greatly expanded. That should translate to higher values for collectibles, assuming the supply remains relatively fixed. With few safe havens for investments, I'm surprised more people aren't jumping into collectibles (art, cars, memorabilia). Money in the bank nets you 0.1%, stocks are volatile and soon to be taxed more heavily and bonds are even risky propositions now that cities are starting to go bankrupt. Having a portfolio of rare/scarce collectibles should be part of every investment portfolio. >>
Still waiting for the inflation... >>
The frog at present enjoys their warming bubble bath .---- Sonny >>
Pardon me- I'll quit poking sticks at the bubble.
Enjoy those short positions on Treasury securities. It worked out great for Bill Gross! >>
Because of the vigilant stance (read overly stubborn) on the part of the Fed to keep rates artificially low, I agree that shorting Treasuries would not yield much, if any, immediate benefits, though one could have made solid returns over the past couple of weeks. However, rates are so low that if there were a feasible shorting vehicle over the long term (which there isn't), I would feel comfortable putting all my "wealth" into that. >>
When you say 'overly stubborn' I assume that means that you would like to see rates higher. Is this correct? And if so, why?
<< <i>Guy -- At times I absolutely love the posts you post.---- Sonny >>
Good. I'm here to entertain. You do know that Orwell was a socialist, right?
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<< <i>When you think about it, how could card values not be increasing? Collectibles are supposed to increase in value with inflation. With the monetary policies being practiced since the last recession, the money supply has been greatly expanded. That should translate to higher values for collectibles, assuming the supply remains relatively fixed. With few safe havens for investments, I'm surprised more people aren't jumping into collectibles (art, cars, memorabilia). Money in the bank nets you 0.1%, stocks are volatile and soon to be taxed more heavily and bonds are even risky propositions now that cities are starting to go bankrupt. Having a portfolio of rare/scarce collectibles should be part of every investment portfolio. >>
Still waiting for the inflation... >>
The frog at present enjoys their warming bubble bath .---- Sonny >>
Pardon me- I'll quit poking sticks at the bubble.
Enjoy those short positions on Treasury securities. It worked out great for Bill Gross!
BTW, for those interested, here's the MIT billion price index. I know, I know-- it all runs contrary to the idea that 'oh my God we're all gonna die and this country's being run by irresponsible socialists who are degrading-- degrading, I tell you!-- the U.S. dollar and we're turning into Post WW1 Germany and thank God Ron Paul tells it like is and....', so you'll dismiss it outright, but hey- all I can do is present the numbers. >>
This isn't a political point, though people on both sides of the isle make it that. Stripping away all the politics and just looking at the raw numbers would tell anyone we aren't in a good position. The two biggest risks are long term interest rates going up, thus causing our cost of carrying the debt to skyrocket and the threat of having the USD removed as the reserve currency. If either of these two happen, we're in big trouble. The latter case is less likely but the first case must be acknowledged since there isn't an unlimited market of investors to buy our TBills. At some point the music will stop and there will be no chairs to park our TBills in. Then we'll have to start moving up interest rates. Every market turns from bullish to bearish. Why would the bond market be any different? These bonds will continue to be attractive no matter how many are issued?
Getting back to collectibles, I still maintain that the future is bright even with the economic outlook cloudy.
<< <i>Ouch, you guys are hurting my spirit. I certainly understand the limitations that any attempt at a price guide has. Real time data is certainly the most accurate indicator of a card's value but even that varies from sale to sale. Does VCP data differentiate between a psa 8 1971 Munson centered 70-30 and one centered 50-50, one with vibrant color and gloss to one with flat color tones, one with perhaps a print dot or two compared to a clean, sharp focused picture? Point being that even recent and historical sales data has some limitations. A couple years ago I bought a perfectly centered 1974 Willie Mays World Series PSA 9 card on eBay for $25 to replace the one I had which was far less attractive. I put that one on eBay a few weeks later and it sold for over $60. What price guide or sales data can really make sense out of that?
I mentioned SMR as a reference point "as well as the recent amount that many similar population cards have been selling for." I have been known to give SMR a glance but always reference the pop report and past sales/completed auctions as much as I can when bidding. I keep notes on graded cards I really want to add to my collection. I would have to disagree that SMR is "utterly useless" simply because it is the base by which many dealers price their cards. How many times all the National or other large shows do you peruse graded cards at a dealer's table that has a sign "25% off SMR" or ungraded cards with a sign "80% of Beckett prices". Point being many dealers and collectors reference SMR or Beckett as the basis for setting their prices. Therefore one has to have a working knowledge of what credence, or lack of credence as many believe, that SMR and Beckett have. For me, it is valuable to understand SMR prices and the limitations that any price guide has simply because others give some value to the information.
So my confession is that I do reference SMR from time to time. I hope my credibility hasn't slipped too much.
An interesting story. A couple years ago at the National in Chicago I was going through binders of 1969 Topps cards. I found a beautifully centered Lou Brock in NM-MINT condition. The seller wanted 75% off the Becket price. I shared with him that this card was very difficult to find with centering this nice and he could probably get a premium for it should he have it graded. No, he said, Beckett says it's worth this much so you can have for 25% off like the sign says. He continued that he didn't need a grading company to tell hime the condition or value of a card. I don't remember what I paid but it wasn't a whole lot. It now sits in a PSA 8 holder. For many collectors/dealers the Beckett or SMR price guides are their "bible", whether the price listings are accurate or not. >>
I don't believe I've EVER heard somebody make a better statement on this subject.
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<< <i>Guy -- At times I absolutely love the posts you post.---- Sonny >>
Good. I'm here to entertain. You do know that Orwell was a socialist, right? >>
Yes I do . Eric Blair wisely saw and warned of the coming madness .
Blair and Roger Walters share much .
That's Rich.