As the first reply points out, the two cards being compared are not, actually, comparable. A year ago, a BGS 9 card sold for $800k. Now, a BGS 7 card is selling for $100k.
Trading cards of all sorts, including sports cards, are seeing values deflate at present, but not in the collapsatory fashion the tweet suggests. Many top items are down 20% or so from recent highs, and the market is not moving as swiftly as it was, but so far this is nothing out of the ordinary for this highly volatile market.
Personally, I live in a different corner of the trading card market -- I specialize in trading card games (like Magic: the Gathering). Everybody's favorite Black Lotus is trending downward (though the bigger story is the collapse in trading volume) -- there's a Beta BGS 9 on ebay right now asking $75,000, or an Unlimited in played condition for about $15,000. Those prices are well below the about $100k and about $20k I would have expected to see a year ago, but still well above the $25k and $7k I would have expected to see a few years prior.
I don't want to say this is a non-story, but it's not the end of the world.
Or, if you think it is the end of the world, sell me all your trading card game good stuff today! I'll pay you way below yesterday's market price, but you can get out before it goes to zero!
The tweet seems to be trying to lump the loss of value in crypto to an overall downturn that can’t be blamed on crypto alone.
It’s false. Collectibles like trading cards are not like the stock market; they are ultimately propped up by hobbyists. If you don’t have any hobbyists to buy them, the price ultimately tanks. Look at Elvis paraphernalia as an example. All the Elvis fans died, and now Elvis merchandise is near worthless, and cannot be used as an investment vehicle.
Or are you saying that NFTs and crypto are like trading cards: just a hobby waiting to have its hobbyists lose interest?
As the first reply points out, the two cards being compared are not, actually, comparable. A year ago, a BGS 9 card sold for $800k. Now, a BGS 7 card is selling for $100k.
Trading cards of all sorts, including sports cards, are seeing values deflate at present, but not in the collapsatory fashion the tweet suggests. Many top items are down 20% or so from recent highs, and the market is not moving as swiftly as it was, but so far this is nothing out of the ordinary for this highly volatile market.
Personally, I live in a different corner of the trading card market -- I specialize in trading card games (like Magic: the Gathering). Everybody's favorite Black Lotus is trending downward (though the bigger story is the collapse in trading volume) -- there's a Beta BGS 9 on ebay right now asking $75,000, or an Unlimited in played condition for about $15,000. Those prices are well below the about $100k and about $20k I would have expected to see a year ago, but still well above the $25k and $7k I would have expected to see a few years prior.
I don't want to say this is a non-story, but it's not the end of the world.
Or, if you think it is the end of the world, sell me all your trading card game good stuff today! I'll pay you way below yesterday's market price, but you can get out before it goes to zero!
The tweet seems to be trying to lump the loss of value in crypto to an overall downturn that can’t be blamed on crypto alone.
It’s false. Collectibles like trading cards are not like the stock market; they are ultimately propped up by hobbyists. If you don’t have any hobbyists to buy them, the price ultimately tanks. Look at Elvis paraphernalia as an example. All the Elvis fans died, and now Elvis merchandise is near worthless, and cannot be used as an investment vehicle.
Or are you saying that NFTs and crypto are like trading cards: just a hobby waiting to have its hobbyists lose interest?
Derek Clark:
> that's not the same card. 7 != 9. cards might be cooling, but your post is very inaccurate
https://twitter.com/clarky07/status/1527746200061059080
Collectibles are going to suffer in a bear market, yes.