Top 12 NBA Basketball Cards Sold For a Massive Loss 📉 Sports Card Flipping Gone Wrong 😱 Time to buy?
ฝัง
- เผยแพร่เมื่อ 10 ก.ค. 2024
- 🏀 Basketball rookies ending now on eBay: ebay.us/iMsRcV
🏈 Football rookies ending now on eBay: ebay.us/pVoqFH
⚾️ Baseball rookies ending now on eBay: ebay.us/40Zzif
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Top 12 basketball cards recently sold for a massive loss. Is now the time to buy modern-day basketball cards? What are the best basketball cards to invest in now? Let me know in the comment what basketball cards you are buying!
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Who's buying right now? And what cards are you buying?? 👀 🔥
I only buy vintage (50s-60s) baseball.
Raw vintage baseball pre 1980 raw. Basketball, football, and hockey pre 1990 raw.
The issue is that Probstein only charges 5% if it sells for $1000 or more, you save money if it does well; but they won't do BIN or auctions starting at the lowest you'd accept (what I do if I list it myself.) I list rare items BIN like Milton Bradley and OPC Nolan Ryan RC's w/both autos as BIN, while an OPC sold well on Probstein last fall; they won't say "topps O-Pee-Chee" in the listing (ie to get searches for people that don't know OPC to my knowledge, won't explain rarity and despite their listings getting more eyeballs there's a risk of it selling poorly. Basically, there's 1-4 people fighting it out for a great card that would pay 50% over comps if it's actually rare; but if it's only 1 then it's going to be much lower than comps. I know, I snipe with the best of them (92 dual signed Nolan Ryan RC's later, most sold; PC and a small inventory left.)
Jordan, Jordan, and more Jordan....All day, everyday!
Murderers or Dead players, Bo Jackson, Deion Sanders, Griffey, Rodman, and yes Jordan
We can’t rule out money laundering on some of these. These are massive losses. These guys have tons of money and can easily be trying to launder/show losses
ebay fees at over 13% right now make it impossible to flip for profit on there now
Cards prices are coming back down to real world prices. The big BOOM!!! Era is over for at least a while. Flippers are getting hit hard. Buy the cards you love not to invest in the short run.
It think it can be both, and not one-or-the-other but to your point there does have to at least be some level of collecting what you love because that's what makes it a hobby.
Speaking on it I bought a topps gold 93 series one sealed box from pristine auction. Opened it and now gonna grade the cards. I cant sit on sealed products but also, i but alot of pokemon from ebay and people are selling old near mint cards for dirt cheap. But you take the risk cause they never ship properly but yes i agree as a buyer and seller. Im getting more deals buying rn
7:10 Person should have waited until Wade was inducted into HOF to sell that card. There's currently no buzz surrounding Wade right now which always attributes to the value.
P.S Why has anyone even thought of buying in on Kemba Walker? Guy hasn't really been relevant since he left Charlotte. The buyer should have known he was going to lose money on that from the jump.
Why anyone would pay $300,000 for a Kobe gold refractor is beyond belief.
Most of these were cards bought at the top of the market or near the top and then sold as the bubble deflated but why some idiot would pay $300K for a Kobe Gold refractor is beyond rationale....
I would say these cards were sold for 1 of 3 possible reasons. They needed money bad, tax write off, or maybe a bankruptcy liquidation sale.
My thoughts exactly. One guy said that they had to sell bc their wife found out how much they paid for them 🤣
Hopium
I buy only with disposable income. That way I never feel the need to sell. If it hits it hits, if not oh well. Nothing really lost
Excellent strategy, this will save you from a lot of stress and anxiety. 🙌
@PSACOLLECTOR I jumped back into the hobby when Aaron judge was a rookie. I do not do it to turn a profit, I do it because it is fun. That's what we all started for when we were young
You hold the Duncan and the LeBron auto. You don't sell them. Ever.
Correct
Tried warning these guys for years about these 1/1 gimmick cards. Especially since on mediocre rookies.
This is why I mainly collect and not resell sports cards .
Graded high end modern is a game of hot potato 🥔. The music WILL stop. This happened to me with graded video games.
Once the dollar crashes and the political world cries for digital track and trace currency.. the hobby WILL TANK .. Wall St money laundering
I love the hobby and cards, but damn, it was about time that those ridiculous prices went down it's crazy, $330K for a 2008 Kobe refractor... Why?
The Ben Simmons sale was a win for the seller. That thing is going to be in the dollar box in 5 years
Hahaha, for real, I couldn't believe he got $870 for it!
🤣🤣👍
You said the number one thing to have is patience. Seems to me the number one thing to have in this hobby is money.
😆 yeah money is key, however, small money can turn into big money with patience 👍🏻
1. Disposable income 2. Patience 3. Patience 4. Patience
Thats right. Also try not to buy when that person is on fire as well. I buy baseball in the off season.
Maybe go to a sport that only has one company producing cards?, maybe buy into a sport that is constantly growing and not remaining stagnant or getting involved in politics… a sport that covid couldn’t stop… show some love to hockey! Not meant for flipping, it’s meant for selling years down the road.
@@Hockeistguyalive i used to collect a lot of hockey! Bought a lot of boxes of 05-06 upper deck series 2 looking for Ovi! Series 1 was too expensive because of crosby. I pulled 1 Ovi and bought 1. Also bought a crosby 9.5 way back. Sold all 3 of them years ago, for a profit, but I wish I didn't!
These massive losses are a great tax write-off... just bummed I missed out on picking them up! 😂
I buy mostly hockey cards and I can flip them in a week or first auction cycle making between 50-500% profit.... But at the same time I've been doing this for 35 years so I know what to look for. I look for card lots and occasionally you can find some really nice cards mixed in with the "junk" and on occasion you can find a "home run mega lot" that's just loaded, but was poorly listed or poorly advertised.. I mean it's time consuming but if you know what you're doing it can be quite lucrative... Obviously that plan doesn't work with ultra-modern, but I have made good money doing it with vintage and modern cards... Of course ultra-modern cards are super risky and a totally different universe.. And again, like I said - I've been doing this for 35 years, so I know what I'm looking for and I have the experience to be successful flipping cards.. It takes a ton of time, a ton of experience, lots of knowledge and some luck to make enough money to make it worth it - but hey, I have the tools, I love the hobby so why not make a few bucks doing what I enjoy?
Same here.. thought I started about 3 years ago.. tage Thompson was a good one.. I loaded up on his stuff before it went through the roof.. I got bunch of his ygs, SPA and the cup for peanuts..
I'm with you , been a collector for many years , an investor in recent , and this year I've started selling , this keeps me in the hobby ..
Love the little chuckle at the beginning of the ben simmons card. What a drop off/disappointment hes been. Smh
It almost feels like these were never legit purchases to sell for such a huge loss! Thats crazy!
It's bad enough that a 1/1 would be a sticker auto, but even worse that someone shelled out $276,000 for it.
I like these videos because as much as they hurt, they yell the truth. I too lost a couple thousand dollars for impulse buying during the boom. I did not sell them at a loss, I still own them..... just devalued. I only collect who I love so I only own cards that I want. But yeah, it hurts. Thanks for the vid!
I did not catch if you mentioned it in the intro but the loss to the owner is actually worse because the price you were quoting includes the buyer's premium in the new sale.
As Kenny Rogers always said “You got to know when to hold’em…. Know when to fold’em….. Know when to walk away…..Know when to run” - Sound advice for today’s card collector. I would RUN from all Ultra-Modern cards - Outside of Mahomes these guys have WON NOTHING! The vast majority of them will continue to WIN NOTHING!
I was at a card show and the dude said in 2003 he bought that lebron just /10 I think for 400$ and sold it for 1.4K in 2003 now it’s worth millions.
He didn’t actually lose anything it’s just what he could’ve gotten 20 years later
Ask stamp collectors that were dropping big bucks on their hobby back in the 80’s what most of their collection is worth now.
are stamps really comparable to cards? I dont see any autos or patches/ 1 of 1s and variants, did I mention sports?.....
There’s no rare or uncommon stamps in the stamp collecting or coin collecting hobbies both of whom were juggernauts 30 years ago and now are on life support.
Only Mac Jones purple border silver refractors with sparkly giraffe theme numbered to 25 will hold value going forward. 🤣
Even $870 sounds like a dumb buy on Ben Simmons.
The price of cards during the pandemic years were way over priced. Happy I sold a lot thise years.
Thank you
It’s this simple - you don’t own any value until you sell it and have cash in hand. What it’s worth-? Who saw Ja Morant incident? You can’t have a card value go up unless someone pays more for it. That means it sold. I am looking forward to selling everything soon. Just time to move them along
I recently sold so much and got stuff u really wanted and have so much less now I had probably 10,000 cards now I have less then 1000 for sure
@@jagsfan6988 and how good does it feel finally grinding and clearing it out? feels good having a smaller collection with nice/great quality in my opinion.
Guy in the comments said it best, i love collecting but it can get super expensive. Im just a regular guy, i cant afford hobby boxes unless i save up and get one or two a year. Thanks for the video and the info. Shout out from Pittsburgh PA
Busting wax is gambling plain and simple. The odds of earning enough to recover your purchase price is bleak at best. I honestly just buy a very modest amount of retail at Target to scratch the itch, and then invest in singles I like. To each their own though!
Why are you not factoring back in the auction fees they get rebated from the buyer?
This is the same scam that went down in the sealed video game market (old nintendo, sega etc). Since most kids opened them and used them when they bought them there were already very few that remained sealed, and some small group went out and bought every single one they could find for a few years, next they enlisted Heritage Auction house and held a few auctions in a row where the prices began doubling, trippling, 10x, 100x etc. Basically what you would have bought for 500 was now 'selling' for 100k in only 3 years. Thing is they weren't actually selling the games, just bidding them up to ridiculous valuations, why? When someone sees the next auction they probably know about crazy valuations happening, creating buzz, so they want in, they figure out what they want to bid on and where do they go to figure out how much something is worth, they check the auction records--the fake auction records. Fomo kicks in and suddenly they are bidding way to much.
This sounds like the exact same thing. Some of these prices just sound way to crazy. I bet if you look deeper those transactions didn't go through, or it was someone selling to themselves.
Oh
These sellers are loosing more than just the sold price
There’s the sellers fees and shipping
Yeah I failed to mention this in the video. Fees are a huge part of buying and selling
The point here is don't sell anything on PWCC!
I love your videos but this one is up in my top 5.
I don't get selling the Luka for $75K when there are folks openly looking for the Black PRIZM 1/1 and offering $1.6million for it. You'd have to think the Black Optic would be worth at least 25% of that, no?
Most of the large cards that are being sold are being forced to be liquidated as a result of the original buyers having an outstanding loan balance that needs to be repaid. Their lenders are required to maintain a certain LTV and the drop in values of all sports cards has resulted in many people holding these large cards having to sell to get their LTV back in line. More to come over the next 12 months…..
Given that I am a glass is half full kind of person, my biggest take on this is that no matter what, if the card is a good card, there will always be people willing to buy it and pay a hefty amount doing so. The fact that these cards lost value only means that a price correction was due. As a result, it means that the people who recently bought these cards at a significant price reduction believe that they will once again rise in value.
Prepared investors buy the dips 🧠 👍🏻
@@GRADEDCARDINVESTOR buying the dips is good, buying pandemic prices? Never going to see those prices again. If you bought high in pandemic your losing 50% the market was so high bc everyone was home and bored.
i wonder how modern cards of older players will do. Like a 2020 signed relic of reggie jackson or a 2022 auto of hank arron
Now is a good time to be buying and it might get even better depending on the economy. I would hold off buying any of today's players though because they are still expensive in my opinion. Before the 2020 boom I was buying players in the middle of their careers and for better price than these guys like Luka and Tatum in their 5th or 6th season.
Yes, sir! I like that strategy 🙌 Luka and Trae are always on my radar 👀
I would have held on to that Donovan Mitchell. Especially when he balling this hard
No collector would spend thousands on a 21st century PSA-7.
#2 thing: Don’t tell your wife or girlfriend. Better, don’t have a wife or girlfriend when making a gargantuan purchase of a card.
That Luka loss of 87K was like driving a new corvette off a cliff!
Oh damn, you’re spot on with this one 😆 I wonder what color he chose to sling into the air!
@@GRADEDCARDINVESTOR I just can’t wrap my head around those high purchase prices!
Not to the buyer who picked it up at what seems like a reasonable price considering the caliber of the card!
People don't seem to know when it's smart to do auction and when it's better to do fixed price/buy it now....Then they let good cards go low, feel violated, and it hurts all the rest our collection's value lol. Just price it up! Wait for the right buyer/collector, let them haggle a little and get a nice sale... Dudes be running auctions to end at 4am on a Tuesday night and wonder why no one bid up their card at the end haha
Some of those sales probably had a shill betting so if they didn’t get there price they got it back
$600 loss is quite a bit in my eyes lol
LOOONG time collector here. The prices being paid for these cards IS INSANE. There is no way, given the supply, they will even hold a fraction of their value over the years. Compare this to the pre 1980 cards, (even the Fleer Jordan rookie) where there is one true rookie per set. Of the various rookies that come out today, including pre-rookie cards, how many of variants of each card are produced, even before getting into serial numbers? There is suppose to be rarity there. All I know is if I played in the is market, and I don't, I would be hitting the bid. FWIW, most of my collection is graded vintage, but I will take a shot on undiscovered modern rookies but if I lose, and I fully 100% expect to, it won't hurt.
Flame away.
This is a great video, a lot of people need to see the potential downsides of sports cards.
Due Diligence for sports cards:
1. Dont invest in a player until they win an MVP.
2. If you plan to hold long term, buying at the beginning of a player's career is usually a bad idea-even if you're right at the end, its too risky.
Wrong on both points cause the number 1 loss on the video is of lebron james who has already won multiple mvps at the time of purchase and is closer to the end of his career than at the beginning.
I always buy early because thats when the cards are generally at the lowest of prices. Waiting for that player to win MVP only will cost you more money. I bought heavy on Mahomes before he even started a game I also bought heavy early on Jalen Hurts, Luka & Trae Young. Currently stacking up on Justin Fields, Banchero etc... I do get your point on waiting it out however I'd rather buy in bulk on a nice chunk of players when they first hit the scene and I'll celebrate my wins and trim off my Ls as I go on.
@@rupertpupkin2660 totally agree, if a player has already won mvp, everyone will be on his jock straps.
Cardboard + mustard when more banks fail.
Thanks man! I don't feel as bad for my loses over the years. Like you said some of these cards could've just been play money for these high rollers.
No one has money to buy because they invested it all into cards. Hence the reason why people are selling for Massive Losses. They are selling for massive losses just to get some kind of capital back on the investment. Most flippers can’t afford to sit on cards long so they cut their losses for what they are.
Yeah, regarding Morant, I think we frown on guys pulling guns on camera as far I know, but you do you bro.
Depends on where you grew up, flashing a gun is common where I’m from. It’s how you can spot a punk. all talk no walk. Not really frowned upon, just a kid trying to act hard.
I think a lot of sellers are selling at a loss on purpose to their friends or something and writing the losses off on their taxes.
If I owned an exquisite LeBron rpa I would never sell it.. bury me with that card
Haha, for real. I'd be so nervous to sell.
I would love to get into the minds of the people who bought these cards. Who the hell would pay a 6 figure dollar amount for a Trae Young card???? I honestly think most these flippers aren’t big sports fans and that’s why they are gullible to the hype.
Dollar cards have the best roi. And if you loose, it's only a buck!
Right Now Luka Rookie cards are the most risky to hold. His card at the moment are over proce and he hasn't won anything yet nor an MVP. Right now he doesn't have a position to win it all. Be scarry to be the next Steve nash. He's card would definitely plummet.😂
To spend over 160k on a premium 1of1 Luka and then sell for 75k makes no sense. You only buy it for that if you think he’s going to be an all time great. No clue why’d you sell now
Thing about basketball is they let everyone into the hall, unlike MLB. Most those players will be in the hall, so yeah hold.
Massive amounts of money laundering is going on in some of these auctions/tax write offs while selling to someone they know.
I think a lot of it is tax loss harvesting. These folks buying these cards with 100’s of thousands aren’t dumb. Sell a card through PWCC, take the massive loss, and buy another one. Write off the loss, have the same card, hey, gotta offset the crypto gains hahaha
On the Zion, stupidity should not be a tax write off.
Now I don't feel so bad about the thousands I've lost lol
Finally a vid I can relate to 😢😂
😂 buy high sell low baby!
@@boxalarmtrading hehe!!
Excellent Video man!!!
Market manipulation. It’s possible that some of these sales are to inflate the price of future sales.
Anybody that pays these prices for NEW cards, that only have pre-made scarcity, has got to be out of their minds. These aren’t cards that were played with, traded, placed in your spokes, card flipped against the curb…these are specifically made by manufacturers to bloat the retail prices, and drive the FOMO of the collectors market. Insane! You’d be much better off jumping in the Ponzi Bitcoin market.
Thanks boomer.
OUCH! I'm glad I'm a football card collector!!!!!!!!
Gotta hold on to that spida! Wtf was that guy thinking
Money laundering is a possibility for some of the more expensive cards, short term possession cards on the list.
A true auction is what it’s worth
You stick it on eBay for a buy now no one will pay that price- and you are sitting in a card that you’ll lower the sell until it’s a loss before you sell it in what a year? Tie up the cash for 5 years? To lose a grand
Anyone who spends 10’s of thousands of dollars are 1) Rich or 2)A victim of the “pump and dumpers” who get rare rookie cards, pump them up then sell them for big $$& knowing they’re not worth it. Don’t get suckered in by the blowhards of the hobby. Collect what you enjoy and never overpay for rookies who have done nothing.
In 2008, I pulled a 1 of 1 of a St. Louis player out of a box of Contenders. I couldn’t believe the offer of $500 I got for it. The kid never played 1 game in The Major League.
Great video, man! I know FOMO is like a drug but I often wonder why collectors pay so exorbitantly for so many players that are mid tier at best in the long run. All the data from the past is there to see how it turns out for so many players besides the GOATS. Makes no sense.
I agree, Vince. If you're going to spend BIG money, why not buy the proven players rookie cards? In my opinion, these buyers are straight gambling and hoping for the best with money they can lose. I think over time the real GOATS will win in the end 👍🏻
I agree at the end of the day it's HOF or bust, but at the same time one needs to do a bit of strategic semi-risky investing on guys that aren't immediate GOAT candidates but could develop into HOF caliber players, because it's far more affordable than trying to collect someone like Luka who already has GOAT status baked into his prices. It's also less risky than paying GOAT prices for Lamelo's or Zion's and getting burned when they can't back it up.
With that said $75K for a 1/1 on-card auto of a highly collectable set base parallel is pretty dope and someone got very lucky!
I appreciate this video. I was a buyer of a card yesterday that I found i paid $130 over what it's worth lol..but it was a card i was chasing for a long time. These losses make me feel better
15:48 it has to be money laundering.
He has such a great point... Ive been waiting for him to do his research like I did to just make sure I was right... Been waiting for this for a month or 2 now... I knew the market was in a bad DIP DOWN.... Meaning do not sell cards right now.... Flipping isn't in our timeframe right now... Its about building a collection to sell later when the card market is up AND the ACTUAL MARKET is up as well.... These 2 things do go hand in hand... Many companies that do auctions have held back from doing them... Cards will not fetch in money what they did during COVID and Trumps Stimulus packages we received...
HOLD HOLD HOLD
I'm currently investing un Will Grier cards, so I have a long way to go before losing a million dollars.
Lesson- never spend that kinda cash- you’ll never recoup
Notice 2023 is the drop off
Great topic Matt! Unfortunately this is going to happen every year but I think buyers read too much into hype and the now. It's amazing what people will pay for a player that hasn't even stepped foot on a court yet. I feel bad for laughing at some of these but what can you do, lol.
Tim duncan buy was a steal
I buy vintage not this garbage i sleep good at night
That's a Ben Simmons bus. lolol.
A lot of these cards are long term holds. The market is going to bounce back.
I agree, I'd say 40% are due for a huge comeback 🙌
11:37 how many people in this comment section pointed a gun at someone while in a club when they were a kid? I never did that I guess I wasn't the typical kid.
Great video
Maybe they Sellet can Claim a Capital Loss On their Taxes and Even Out Some ? i think i HERD GEoff Wilson himself say that once ???
Luka logoman didn't make the list? was 2 million cheaper. ;p
Thank u this was helpful
If you are buying cards right now you must have nothing better to spend your money on
Dude just makes sense, new subscriber
Welcome aboard! Thanks for the support, Riley! 🙏🏻
Tim Duncan and lebron James , rookie cards prime? You keep those. Image the price in 20 years
11:47 really? He's just being a kid? So pointing a gun at people while at a nightclub is just a rite of passage now? Come on man, you know better... and this was the second or third time he has had issues with guns.
Some of these, like that Kobe CANT be real. It's gotta be someone selling it to someone he knew or some shit
The boom you speak of is not coming anytime soon. I know all of you in the hobby want a quick rebound for excitement and to make money, but you need to temper your expectations. There will be a rise again but it is likely to be several years before anything like that happens, and it's unlikely it will be as drastic as the last one.
In order to understand why someone would sell and realize these losses, you have to understand opportunity cost.
These people don't care about this hobby. They care about capital. And what scares any investor more than seeing the red, is putting their money to sleep.
Sports cards may take a few years to bounce back. In that few years a savvy investor can move back into crypto, or mining stocks, or oil, or whatever the hot investment du jour might be, and they can get back in the win column by Tuesday.
Yes, no matter how you slice it, this sucks. But to scratch your head and say, why wouldn't an investor just sit on Ja Morant card for a few years until the hobby becomes relevant again, is missing the big picture.
These guys have to be getting back more than money in return..maybe trade back few lower priced cards I bet.
good video.. keepem coming… enjoy the good and bad news of the hobby.. its how things r in all things...
Thanks, Lee! I have more coming of both the good and the bad 🙌 👍🏻
What people are going to find is you either need to keep trading up each year or keep spending more and more because every year there is a whole new round of players and cards to keep up with. Products will keep being printed and you will never ever keep up with it all, so cards like these will fall out of favor for the next big thing.
i have a fleer universe all mellinium of gary payton numbered to 20..did this card have a value pls answer sir..thank you
The trey young card LMFAO what a joke of a buyer/seller. He deserves to lose so much money