NFL Auctions Pricing Reaching Unreasonable Levels?

[dafivehole]

It starts with the man in the mirror

[5kRunner]

If someone can afford to spend $14k on a jersey, who are we to tell them they can't?

This is the United States of America. If you don't like your present situation, you can change it any day you feel like it. If you can't afford to spend $14k for a jersey, but want to. Put a plan together, Bust your butt, change professions, do whatever you have to do and get it done.

But don't tell someone they can't or are stupid for spending THEIR money on something THEY want.

[mvandor]

If someone can afford to spend $14k on a jersey, who are we to tell them they can't?

This is the United States of America. If you don't like your present situation, you can change it any day you feel like it. If you can't afford to spend $14k for a jersey, but want to. Put a plan together, Bust your butt, change professions, do whatever you have to do and get it done.

But don't tell someone they can't or are stupid for spending THEIR money on something THEY want.

Hmm, I don't recall insulting anyone in this thread. If the hobby has millionaires that continue to price us schlubs out on items, so be it. However, most people I know with money got it by being wise and judicious in how they manage it. Clearly, many of these NFL Auction items are being purchased far beyond reasonable market rates likely by guys with jack to spare that can afford not to care about whether they get their money back on resale - or heck even at estate sale when they go.

Certainly given the cost of GU items, the vast majority of collectors can't afford to buy without confidence they can get their money out at some future point - for the benefit of them or their heirs. Heck, even collectors of expensive art in the top 1% of income earners generally consider return on sale when they bid on art.

[34swtns]

Well said, mvandor

5KRunner, you're putting words into people's mouths.
Not cool.

[5kRunner]

mvandor,
You're right. I apologize, no one insulted anyone. I misread lund's statement about "implying people are stupid" as someone had said it. But, I re-read the thread and clearly there are no insults. Sorry.

[CollectGU]

Clearly, many of these NFL Auction items are being purchased far beyond reasonable market rates likely by guys with jack to spare that can afford not to care about whether they get their money back on resale - or heck even at estate sale when they go.

People who are buying from the NFL and NBA are defining the market rates not going beyond them. These are unique items with pristine provenenace that can be photo matched to games. Years from now, the backlash from all the bad current player crap out there will actually cause pieces like this with provenance directly to the game played to be highly coveted by collectors because there will be so few available. Supply and demand will be on their side....

Dave

[lund6771]

Dave...can you believe it?...we actually agree on something!!!

[kingjammy24]

hello gents

- "nfl prices are a lot higher than comparable items from ebay/auction houses!"

provenance costs money. apparently, some are willing to a substantial premium to sleep at night.

- "the little guy can't afford this stuff!"

welcome to life. nfl auctions is hardly unique in this respect. the little guy is priced out of tons of stuff. perhaps i should go to the local bentley dealership and express my disdain that i've been priced out of a new '08 continental. this is a hobby; a luxury. unless we're talking about necessities like sufficient housing, food and clothing, then there's no requirement or expectation that these items be priced within your personal budget. like any hobby, there is a financial barrier to entry. if you find the barrier too steep then either increase your income, decrease your expenses, or find a hobby that is more commensurate with your financial means. again, collecting game-used items is not an inherant right. most people in the world feel limited by their financial means to one extent or another.

- "this stuff is way over market value!"

comparing items with no provenance to items with strong provenance is not accurate. the market reflects this. the market value for a john lynch jersey with no provenance is not the same market value as for one sold directly from the team.

- "they'll never recoup their money if they decide to sell"

they'll likely have a far easier time selling than if they'd have no provenance. congrats on buying an LT "gamer" on ebay for $1k. good luck selling it in 10 yrs when every legit gamer on the market will come from the team/league and your undocumented jersey is regarded as an anomaly. ask george jetefan what he feels the emergence of steiner did to his pre-steiner yankees collection.

secondly, many are correct in saying that the buyers don't care if they recoup their money and others wonder how it's possible to not care. easy; it's a hobby so you naturally assume you're going to lose money. isn't that what hobbies typically do? the money i spend in this hobby is set aside as mad/fun money so i assume it won't be recouped. the funny thing is that many of those who wonder how it's possible to spend thousands that can't be recouped also have kids. good luck recouping money spent on kids. when these folks go on vacation, do they return only to lament that the vacation didn't make them any money? kids, hobbies, vacations, pets are all money losers. to expect them to be anything else is to completely miss the point of them. if you cannot spend money that has a chance of being lost, then i suggest a CD, money market fund, or GE stock. i don't suggest a pujols bat or jeter jersey. if an inability to recoup what you've spent would pose a financial hardship on your family, then perhaps you shouldn't be spending that money in the first place.

"Over spending because you "Know it's real" isn't worth that much..."

it is to me. i derive great pleasure from my jays jerseys that i purchased directly from the team. i imagine roger also gets great pleasure from many of his iron-clad items. what's that joy worth exactly? whatever it's worth, it's certainly more than the items that i don't have 100% faith in.

many spoke of needing to maintain future resale value. while it's difficult to do this when you've overpaid, it's also going to be increasingly difficult to sell in a future where team/league provenance will be commonplace. i've seen jerseys with no provenance rot on ebay for months while their counterparts with provenance have sold quickly for high amounts. they may have lost money but at least they sold.

"..brother when you got bills to pay, kids to raise, and you're doing it with 1 or 2 average household incomes"

these are all personal choices; prioritizations. don't lament that you can't have your cake and eat it too though. if a person chooses to have umpteen kids and chooses to have 1 spouse stay at home, then it makes little sense for them to complain about their lack of discretionary income or their ability to financially compete with people who chose not to have kids. the funny thing is that they'll spend a TON of money on their kids and not expect a financial return.

"The market will eventually bottom out and these items will start to be more realistic... it's just that the original buyers will lose a ton of money on their initial investments. Patience my friends..."

this may very well happen. it certainly happened with Steiner. when they first came out with their yankee items, most collectors spit soda out of their mouths. a few well-heeled collectors paid but most stood on the sidelines disgusted and complained about their unrealistic prices. (to be fair though, these nfl prices were set by the auction results. ie: the market. steiner's initial prices weren't set by the market.) eventually the predictions came true and their supply outstripped the demand. consequently, prices fell. i'm sure the early buyers lost money. i doubt many of them care. afterall, they got first pick of the items and many of them likely acquired their grail pieces and derive a great deal of pleasure from them to this day. they know the difference between a hobby and an investment.

rudy.

[mvandor]

People who are buying from the NFL and NBA are defining the market rates not going beyond them.

This is only true if the same NFL COA'd items bring as much on the secondary market when resold. Provenance doesn't change on the item but I'm fairly certain buyers at these NFL Auction prices won't find recouping their monies so easy to do at resale regardless of the NFL COA.

That in a nutshell is my point.

[kingjammy24]

This is only true if the same NFL COA'd items bring as much on the secondary market when resold. Provenance doesn't change on the item but I'm fairly certain buyers at these NFL Auction prices won't find recouping their monies so easy to do at resale regardless of the NFL COA.

That in a nutshell is my point.

i agree this is likely. many who paid top dollar with steiner weren't able to get the same amount when they turned around and sold their steiner yankee shirts on ebay or at auctions.

any theories as to why?

rudy.