The Sports Card Crash?
Will the sports card market crash? Should you believe big influencers like Vegas Dave or Gary Vee? The recent boom in cards has got people talking about an inevitable crash but what exactly do these 2 big card influencers say?
Let's take a look.
Crash by 2024 - The Vegas Dave view
This week Vegas Dave burned a (potentially) $200,000 1986' Fleer Michael Jordan sticker to try to make a point: sports cards are over inflated and will crash hard by 2024. He cites his predictions from 2015 and his flipping of his Mike Trout card for $4 million to give him credibility and its strong evidence.
He says there are heavy hitters coming from the world of finance and fractional investing to make money out of cards and move on once they've sucked it dry.
Dave also got very upset at a poll Cherry ran on it's Instagram page, using the results to attack collectors and say we're in a bubble.
Someone holding the bag - Gary Vee's view
Entrepreneur and social media star Gary Vaynerchuk's view is more nuanced. In a live stream with Cherry's director Grayson White he said the following;
"I don't want people investing in high population rookie cards of kids who haven't proven they're one of the 100 greatest players of all time"
Why are John Collins cards going for more than a legend like Kevin Garnett's? Some people are gonna be left holding a bag of John Collins rookies.
But Gary also notes the supply of highly graded cards from players like Kobe, Jordan, Tim Duncan, Julis Erving and others is always going to be a lot less than current players. Add in the HUGE demand for rookie cards of these legends and you have a recipe for big sale prices.
Who is right?
When Bol Bol rookies took a big bump in price off the back of a scrimmage last year you could see the effect Gary is mentioning in real time: an unproven rookie's cards went 5x in value in minutes.
This sort of speculating can be risky.
At the same time Bol Bol cards were surging, some legends cards were/are still being slept on.
Don't sleep on the legends.