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Sunday, January 3, 2010

Idiot buyers that chase the market

"I just scheduled 15 auctions to capitalize on the beginning of the playoffs after tomorrow's games. Here comes the money!"
- Adam Gellman

It happens in every market where there is speculation. Idiots that are constantly chasing, or better yet following the market in the worst way. I cannot count how many postings there are "WTB Aaron Rodgers Autos". Why would anyone be looking to buy right now. Even if the Packers win the Super Bowl and he is named SB MVP, his cards can't get a whole lot hotter and more expensive than they are right now.

Unless you are Don West, how can anyone encourage someone to buy some of these guys right now? Favre, Manning, Rodgers, etc.

Why am I so upset about this? I am pissed because they fuck up the market for the rest of us that are trying to complete sets. Especially when it is an /200 or lower card.

Well then Joe Collector, when is the best time to buy? About 2 months after the person has failed at living up to the possibility or 5 months after they have achieved it. All of the suckers have been cleared out by then. Don't believe me? When was the best time to buy a PSA 9 Mark McGwire 85 Topps card: On the run up to breaking the record or a few months later. All those idiots that paid too much for the cards as an investment were dumping them trying to make a profit, thus driving the price down. There was no more potential left. The investors are all about the potential and not about the result.

For reference: See Housing Crash. Its amazing how many of my friends are 10's of thousands upside down in their houses because they bought on the upswing of or at the top of the market.

1 comment:

Carl Crawford Cards said...

Worst part is you comparison of the hobby to the housing market is apt, and yet people don't get EITHER or can't be patient and wait out the hot streak.