Bubble created by HK buyer's

[Chris_Paul3]

Just wanted to see people's thoughts on this bubble a handfull of cashed up Chinese buyers are creating in NBA cards.

As we can see here in Aus the property market bubble created by cashed up Chinese investors it seems the same way with cards but to more of an extreme.

My thoughts are if these handfull pull away what will certain cards that are selling for $30k be worth in the future if no-one else willing to drop big $$$ on cards.

My example was a Joel Embiid Logoman that sold for $32k I mean that is rediculous imho.

As i have been looking into who is buying these cards at stupid prices it seems a handfull of Chinese buyers in HK.

This can not be sustainble,will they be left holding the bag in the future ?

Seeing that cards are being manufactured 80's and 90's fakes from HK aswell being pushed into the market ,also Panini and distributors pushing the envelope with rediculous prices .

I don't predict a good forcast in the near future with this hobby.

 

[nichj99]

The Embiid was relisted and likely shilled

 

[Matt26]

The Embiid was relisted and likely shilled

And sold again for a truly unbelievable amount.

The thing that makes no sense at all is that a player like Larry Bird who won everything (Championships/MVPs etc) and is a top 10, possibly top 5 player of all time....his Flawless Logoman 1/1 Auto sells for $3500. Sure its not his Rookie Logoman card but still a similar comparison.

Unless this person is a die hard Embiid collector, I feel they will have turned $30K into $2k in a few years time. But hey...its there money.

Not a lot of big men sell consistently well and even those that are the best ever, very rarely hit those lofty heights.

Hype is a hell of a drug!

 

[Mico]

Hype is a hell of a drug!

So is cocaine.

 

[AbraCalabro]

I think we've all seen what it does to the hobby / market overall, it's a destructive thing. When cards these days are routinely selling for hundreds, thousands, and tens of thousands, there's a seriously problem. Look at the Michael Jordan market today, there are those that will argue it's completely organic, but I disagree. A number of high end MJ cards were hyped / shilled / sold years back and since that time these types of activities have caused a trickle down effect. Want to build a 90s set with Michael Jordan? You better bring a fat wallet.

In general terms, we're looking at the same problem with the modern stuff and the bubble these guys are creating.

 

[skip20]

And sold again for a truly unbelievable amount.

The thing that makes no sense at all is that a player like Larry Bird who won everything (Championships/MVPs etc) and is a top 10, possibly top 5 player of all time....his Flawless Logoman 1/1 Auto sells for $3500. Sure its not his Rookie Logoman card but still a similar comparison.

Unless this person is a die hard Embiid collector, I feel they will have turned $30K into $2k in a few years time. But hey...its there money.

Not a lot of big men sell consistently well and even those that are the best ever, very rarely hit those lofty heights.

Hype is a hell of a drug!

^^ This!

Embiid is touted to be the next Olajuwon whose base autos sell for around the $30 to $40 range and this his best case scenario?! I never understand the rookie hype...next thing you know he does his knee and he's the next Greg Oden...

 

[juxedo]

I say bring on the bubble. Takes the heat off other cards and players so i can get them cheaper.