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Greed Won Out
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Categories: Humor and sarcasm; Experiences and daily life; Human nature; Commerce and business

Word count/read time: 518 words; 2-1/2 minutes

It can be difficult to comprehend the allure and perceived value of some collectibles. At my first in-person auction a set of Brady Bunch cards sold for around $10k. And a stuffed doll - granted, many centuries old - for $22k. There wasn't a $3.25M comic book but all over the world similar items command serious coin.

Some of the freshly minted sport cards' prices are mind-boggling. The LeBron James' triple logoman card has the NBA (fabric) logo from each of his three championship teams from the supposed game-worn jerseys. Everyone knew it was going to be a whopper, worth at least a million. The fervor was insane.

Many people would live-stream the opening of their box, fingers crossed. At roughly $15k per box, it wasn't like your average kid would traipse to the corner store and buy one with pocket change.

As each box was opened and the Holy Grail wasn't found, the remaining boxes increased in value. Websites tracked these stats so everyone knew how many were left. It was certain that whoever found "the" card would immediately announce it and cash in.

 
Naturally, they would think they had a chance of finding it but that would be my dirty secret.
 
A lottery ticket has one value if it wins and that's the end of it. Tomorrow it would be worth the same no matter how many additional tickets were sold. Not so with a card like the logoman and the situation surrounding its existence.

WAIT! This is about greed, the payday, as it was highly unlikely the finder would keep it. A group of investors came forward with the card. Their actions were sacrilegious to greed! They let their immediate greed squander the opportunity for an additional hefty payday because they didn't think ahead, perhaps far more riches than selling the card itself. Why not harness greed's power, right?

People who can't fully embody their ideas, especially when it comes to vices, are foolish. Greed: It's about money and opportunity. If I found this card there would be absolute radio silence. I would buy every remaining box at whatever price. And waited while everyone opened theirs. Naturally, they would think they had an increasing chance of finding it but that would be my dirty secret.

How much money could be made sitting on those boxes? As the virgin quantity dwindled, their value would climb exorbitantly. When there were only a few left I'd sell my stash, then make another $2.4M.

Greed forsakes patience but it would have paid handsomely in this case. Greed battling greed, what irony and stupidity! At least it didn't result in people being tortured, dying, or other malicious acts as history has shown is almost a certainty. If the worst outcome siphoned money from gamblers and speculators...well, there would be crocodile tears aplenty.

In other news, Goldin Auctions sought a T-206 Honus Wagner baseball card. They found one in exceptional condition. The boss showed up with $10M cash and plopped it on the collector's desk. He balked, wanting more. Well, he only got $7.25 million AND may have had to pay fees on top of that (estimated $1.5M based on the broker's normal fee). Greed didn't win this time!


Posted by M: March 30, 2023


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