How is this card worth about $2000?

I am so sick and tired of seeing what I consider to be at most a $100 card bid it up to $2000.  Are people so stupid to think that this card will hold value at $2K?  The only thing I can think of is that it’s people that don’t understand the card industry and how it works.  I could see if this was a 1 of 10 or less, but there are 98 other cards like this in the world.

It’s like Hideo Nomo cards, they should be worth hardly anything, but because of his extreme popularity in Asia, his more rare cards spiral out of control price wise.  I looked at other cards of his coming out of the set.  His jersey card is going for $750, his autograph only cards are close to $1000, heck even the base card is worth close to $100.  When is the last base card that you saw worth that kind of money made since 2000.  There aren’t many.

This kind of crazy bidding drives me crazy.  It’s so hard to get psyched about a product / card / set that is going to be out of the price range of 99% of card collectors.  This is the kind of thing that could have brought new people into the hobby (maybe it already has) but I for one get really turned off by this sort of thing.  What does everyone else think?  Am I alone in feeling this way?


7 responses »

  1. Hackenbush says:

    You are not alone. There are certainly lots of people out there with more money than sense. I guess it’s like that sometimes for the stock market too. Sometimes it’s driven more by emotion and sentiment than by fundamentals.

  2. The secondary market is a fickle one. 9 times out of 10 once the “newness” wears off, the prices come back to earth. It definitely prices some people right out of the market but the investment-geared cards are only for the 1%ers anyway. If I’m gonna drop some change on a specific card of any player, it’s gotta be something special.

  3. Josh D. says:

    Supply and Demand, right? What makes a $100 card worth 10x more than a $10 card? I would say that it’s because SOMEONE out there wants it 10x as much. Same thing here — someone REALLY wants it. Maybe they won’t want it that much later, but they want it that much now.

  4. Paul says:

    I don’t follow basketball, and I don’t pretend to understand the excitement over Jeremy Lin. But right now, the guy has people excited – even ones that don’t normally pay attention to the sport.

    That means high (for now, anyway) prices for his cards. Are people who overpay going to be disillusioned if (when) the value plummets? Sure. So are all the people running out to buy jerseys and t-shirts if Lin can’t live up to the “Linsanity” hype.

    But if Mr. Lin turns out to be a true superstar, think of all the people he could be bringing into the hobby. Would that really be a bad thing?

  5. bamlinden says:

    It is what it is. Supply and demand. Emphasis on demand.

    If people want to “buy high” than so be it.

    But I agree, if people think the card will hold its value (or grow)… might in the short term, but doubtful in the long run.

    I have no problems with it.

    I don’t think the card producers should do anything about it. It’s the secondary market that’s driving these prices. There’s always anomalies out there. This is just one of them.

    I bet the price drops by the end of March.

  6. Spankee says:

    If you have the money and want the card, I don’t see any problem with it at all. People that assume everyone in the hobby is in it for an investment drive me crazy.

    I will never say a card is not worth an amount that is actually paid for it. Cards listed at crazy prices can be stupid, but if it is bought and paid for, I have no problem with it

  7. jay says:

    Sheeple are a strange breed.A brainless strange breed.

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