I Lost $30,000 on a Sports Card DISASTER.. What Now?? 📉
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- čas přidán 18. 11. 2023
- You all warned me! Heres my next move with my Desmond Ridder Cards
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It is fun to invest in young players. Ridders lines were so low for season bets. He was at like 2800 yards and 14-15 tds
I love how you turned the criticism into a financial lesson for everyone. My mindset would be to sell for what I can get back, but after hearing your reasoning to keep, it definitely changes my mindset for future purchases and selling
Geoff have a net worth of $20 million. While 79 % of Americans are living paycheck to paycheck. Geoff can take the loss without a sweat 😓 while the average American would commit suicide
Respect to you. Think about the guy who paid 100k for the prizm Mac Jones 1/1 two years ago 😮
😅😅😅
I remember the FIRST couple PSA 10 donruss BASE sold for 1200
Geoff has done this 857 times already. How many times does someone need to make a mistake before your like huh? This guy really doesn’t know anything. You fan boys are nuts.
@@MarioLuigi-vb3rp damn bro quit drinking that haterade. If you don't like him, stop watching every video and move on with your life .
@@michaelcarter3127exactly. he owns his mistakes. sheesh. some people really have no lives, so their only source of pride is trashing people infinitely more successful than them.
The issue isn’t you bought a nice Ridder card. The problem is how inflated prices for Ridder cards were due to speculation and honestly content creators pushing prospecting.
Vegas had ridder as the lowest passing yards and tds
Just like stocks the big investors corner the markets and hope the athlete hS a great career
@@annetteavery4930nah mac jones
Why are the speculations and prospecting a problem? All investment vehicles do the same thing - stocks with wallstreetbets, crypto with Discord and other forums, etc.
@@ScoreWithVince none of those are a problem. Speculation has always been a part of the hobby. The extreme over hyping of cards aided by influencer types who more then likely are holding the cards of those being hyped is a problem and it’s an unregulated one. Unlike stocks which have an oversight commission and have rules and regulations. Which isn’t perfect but people have gone to jail for market manipulation and such.
First Lonzo Ball, now Desmond Ridder. These guys are long shot prospects of making it big.
This is the best lesson I’ve learned from anybody in the sports card hobby. Around 2 years ago when all my cards were dropping in value. I was really hesitant to sell at a loss, so I was holding all my Zion etc.. I saw a video where Geoff mentioned that selling at a loss is often the best move, especially when there are other cards that you would rather have your money in. I’m 15 now and so happy I sold a lot of my cards when I did, I am so much more logical now when buying, trading and selling cards. Thanks Geoff.
The big problem is buying emotionally with teams or players you like. Emotions are wear this moves out of being an investment and it becomes nostalgia masking as an investment which will most often lead to money lost
Prices will go up once they make playoffs
Haven't lost yet, look at what happened with TLaw cards... Ridder could have a great 2nd season and prices go right back up.
And for every TLaw there are dozens of Manziels out there. It's silly to pour money into a guy that hasn't done anything.
I'd maybe crack open the case and use the card as TP
I totally agree. High risk investing or gambling or whatever are about trying to breakeven or have small losses most of the time and then sprinkle in a big win that more than covers all of the losses since the last win.
This is a true horror story that should be told to all sports card collectors
Anyone who would trade an Ohtani signed card for Desmond Ridder anything should not be giving out financial advice.
The flow of this video from start to end is incredible. Story telling is a skill that takes a lot of planning and critical thinking in order to convey seemlessly a beautiful message in a creative manner. Well done 👏
Stick with the all time greats: Brady, Peyton manning, Dan Marino, Joe Montana, John elway….,
Hey Geoff! Im in the exact same position. I spent around 20k all on Ridder and I’m not mad at all. I was personally waiting for him to be benched. This is a straight up reset for him and thats what he needed. All his mistakes were mental. Hold on to The Ridders!
And now he is back starting. This is his time to shine. I have the one of one NTG NFL SHIELD PSA 10 /10 🥵
The fact that he was even slightly tried to justify this 😂😂
He never said it ended up being a good investment. He just said why he made the investment. Ridder was cheap compared to other young qbs and he had a nice upside.
Think of that ohtani now 😢
Ridder was named the starter again. He will still have a shot
some amazing advice! i loved hearing about the sunk cost fallacy. i haven't heard about it in a while, but great reminder.
I think I'd hold these, and hope ge turns a corner... still has 3 great weapons ans maybe after the bye it clicks... if not then i change to sell.
Geoff is such an eloquent speaker. He communicates his thought process and ideas so well.
I might be the 1% of viewers who actually really liked your trade for the 1/1 Desmond Ridder. Since you are a Falcons fan, and for the 2 cards that you traded away, it was clearly a fantastic move, in my opinion. Most people just hate on big trades for no reason (jealousy, personal bias, can't fathom such a high value trade). I like that you got rid of those 2 cards for a 1/1, and it was clearly a fun risk.
Since I only purchase for resale, my strategy would be to sell, get what I can, and move on to the next “deal.”
I can remember how shocked one of my friends was when I told him; “I honestly don’t make money on every card.” I guess some think all you have to do is buy a card and someone will automatically pay more for it!
It doesn’t always work like that. But, I take my loses as valuable lessons and my gains as affirmation I’m on the right track
Hey Geoff, I would love to see a video on your collection update. Would like to see what you picked up or sold from the last few months
On the market movers app where is the back end data being populated from? Is it driven off of ebay sold listings or was there data collection done by your team for a year or two before the launch of market movers?
I really like that you're not only showing big hits, showing losses shows the actuality of markets
You shouldn't have to explain yourself tbh, the true people in the collectable card hobby do it for their own enjoyment, not to stroke their own ego
Don’t be confused. Geoff knows what he is doing. Social influencers use big cards to draw awareness to themselves and the products they sell. In this case Geoff used the purchase to promote his channel and the app. He probably only needs a few hundred new app subscribers to offset the losses on these cards. The views on the videos also generate ad revenue.
Bro he lives in atl he is a die hard fan
🎯🎯🎯🎯
This is brutally honest and quite disgusting at the same time. There's always been something off with this guy from day 1 and completely understand why so many people shoot him down constantly. His son's videos/channels are even worse, his attitude is just so condescending especially for younger kids 👎✌️
I think comments like this are way off the mark. Like seriously how much money do you think that generated? an extra 10-20k views? another 10 app subscriptions? wow thats big bucks!! totally worth 10s of thousands.
Seriously, just stop hating. Its not edgy, and its not smart
@@bubblesnz1059 I love Geoff’s content and watch almost every video. I wasn’t criticizing him. I was just pointing out that he uses big cards to generate views and app purchases. That’s called marketing and he’s a pro at it. He doesn’t mention this in his videos so that’s why I pointed it out. He can justify these purchases in ways that most of us can’t.
WOW!!! What an Awesome Video!!! I now See How Smart You are in the Hobby. I Love Your Videos & Your one of The BIGGEST Assets To The Sports Card Hobby!!! 👏 🎉❤
I love sarcasm
Since you have already told us that you have no intentions of holding on to them, what you should do is auction them with Heritage and donate the proceeds to some charity linked to the Atlanta Falcons. This will get you recognized with their organization, and maybe a foot in the door when it comes time for you to open up your new shop and you need someone famous to do signing events.
🎉 deep thought 💭
That all sounds great, except he explicitly said he will hang on to them, both as a Falcons fan, and a reminder of a possible huge investing mistake.
I like the idea, but it would flop hard. Who in their right mind would blow thousands on any Ridder card?
$5-10 K …. Your optimism is regional.
I agree,it’s exactly why this is called sports card investor! We roll the dice on something just like playing a scratch off or something else like such…it’s not always guaranteed to make you something! I just sold a few things on EBay and man I lost half of what I put into what I just sold. I was bummed but I knew the risk 🤷🏽♂️ . Anyways I appreciate the advice and all the information you guys put out! Thank you!
Good stuff Geoff! I've played the game and lost a few times and won a few times. For sure if it's a piece you don't really care for then move it. If it's a personal collection piece, keep it! 😎
Thanks for continuing to share the hobby through your eyes and thanks for everything you do for the community!
People make it out to be that Ridder's career is over. Jesus Christ. Geoff much props for how you handle every situation man.
I love the collector's perspective in this situation. Keeping them not only reminds you of the loss...but also makes a conversation piece. Having One of Ones for any kind of player (good or bad). the thought of noone else having that card is pretty cool. I appreciate the "investor's perspective as well. Whatever the case may be for these cards...I'm glad you are keeping them for your PC for now. thanks for the great content.
It’s just a feel sorry for me video and should be called Geoff’s quarterly denial video. He tries so hard to deny what everyone is saying and if he says it enough times he’ll believe everything is okay in his mind.
I love that you let Roth (the used car salesman of the "hobby" )absolutely toast you on Ridder LMFAO
Keep them bro. It was an investment to begin with so why not keep it that way and see what happens. Hes gonna get that second chance and you'll be a genius. Love your videos and Penny Hardaway 😂
This is not investing, this is speculating. He should liquidate any losses into actual investments like Willie Mays and Mickey Mantle.
@@vintagecollector5340 those cards are at their peak. U can't invest in something that will hardly go up in price. So if u buy a card for 30000 and can sell it for 100000 that's def an investment not a speculation. If it doesn't do well like in his case. It's a bad investment. I'm not gonna invest in a card that doesn't gain much value.
He was paying for content
Yes but this wasn’t his plan. He spent a HUGE majority stake of his card investment money. He had zero intentions to keep ridder card long term, he was hoping ridder would go off beginning of season &, immediately sell. This was a quick flip sell with a major stake of his card cash.
@@DoingNothingKing If you're gonna gamble, you better be ready to lose. It's ironic, because Geoff speculating undermines the entire intention of his CZcams channel name.
I live vicariously through you Geoff because I started out like you in the late 80's but with less money but the gain/loss ratio are the same. I made a pause on the Hobby and started a family. In mid 2000 I picked back up and took a different approach. As of today, I'm sitting on a 950% Margin on my investments. However, my method (not vintage) is not as exciting as yours but its 100% foolproof. To bring it back full circle, your videos are exciting and cringey at the same time.
Your only hope is fanatics is dumb enough to buy your whole company and app out .
Comparing Desmond Ridder and Brock Purdy is crazy .
Did he mean to record this argument for his wife? 😂
Personally, I would sell one and keep the other one as a reminder of either a really bad deal if things keeps going down for Ridder, or up and maybe get even in your investment in the slim chances that ridder turns it around and somewhat becomes good enough to be considered legit by the collectors community..
Cut the losses and put them into HOF rookies.
This is a blessing and a sign of things to come. Get out while you can.
I speculated on Tyrese Haliburton for a FRACTION of Lamelo Ball prices and people called me crazy.....
Boy just dropped 60 points 40 ast 0 turnovers over 3 games - avg 25 and 12 now
The problem is the card market as a whole is a falling knife right now. So just simply investing big money is sports cards rn is a horrible investment.
I love when geoff just comes out with the brutal honesty like this.
Honest? The guy is in denial and thinks that if he believes the crap he’s spewing that his sheep will too. They obviously do and can’t think for themselves. If a guy losing $30,000 doesn’t tell someone this guy doesn’t know anything about sports or cards then they deserve to lose their shirts too.
@carolinatarheels7903 huh? Whole lot of words that make no sense. You alright mate? Do you need a hug? 😘
Sitting in a similar boat, albeit a much less expensive boat, but have loads of Justyn (Bustyn) Ross cards. I'm going to hold simply because the $$$ is basically gone and I put too much time and effort in collecting. Plus, I'm a Chiefs fan, too.
I feel your pain. I bought a Kyle Pitts Kaboom rookie, SGC 10 for $500 before the season.
Well now that you have those, go buy the rarest Ryan Leaf, Trey Lance, Jamarcus Russell rookie cards and start a QB bust set
Good lesson accepting your mistakes and learning from them no other way to succeed good luck with the next buy
Good attitude and thoughts as always brother. Yall keep up the good content. 💪
Eliminate the emotion. You never bet on your own team or anyone from your own team. That's gambling 101.
People's premium picks offers targeted futures models...predicting prop performance.
If one combines 2 of the 3 models combined(1..re instatement on existing team..or 2)second chance trade..
The model predicts a 71% chance of favorable future regarding young Atlanta Qb.
What a great video! Obviously not because you lost a large amount on the value of these cards but because of the points you made. You certainly could sell them right now and move on from them. NEO Cards & Comics made a great point a long time ago…Thanksgiving is a great time to acquire baseball because it tends to be lower value right now. Perhaps, if you feel your Ridder cards are worth $5-$10K right now, you could trade them for baseball cards of players you believe are currently undervalued. Juan Soto is a name that comes to mind. The value could appreciate in a few months, simply based on seasonality. Good luck with whatever you decide to do with them.
I think you should sell immediately! The problem is is do you auction or try and set a price that may never be met? Good luck Geoff! I feel for you, the same thing has happened to me many times!!
Dumb move
I have a very large SSP Rare Ridders and I believe he has a large upside to his cards. I'm upset he isn't doing well but the way the market goes, he will bounce back. Easy for the falcons to get rid of the offensive coach. If i see you in dallas in Jan, I'll show you the stabbed collection of mine.
😂😂😂😂😂😂 funniest thing I’ve ever seen in my life. Buying into the hype at the highest price it will ever be 😂😂😂😂😂😂 dude u are crazy
The theory is fine. But ridder was never going to be good. Any ball knower could see it
It may be the right call to move because idk that player’s card prices ever come back after a big drop. It’s driven by so much hype these days. This is coming from a Steelers fan who is probably down 75% on all my Najee cards.
I’d keep them a little longer. I have a handful of decent ridder cards including a optic downtown and clearly auto. Wish I had sold them in the summer but now I think I’m gonna wait and see hopefully he gets traded in the offseason or something. But everyone I have I pulled myself so technically I’m not into them for too much
You know I keep want to go after you but the honest truth, everyoen here is a card collector. & you making this video completely exposing yourself on a huge lose, is respectful. My opinion of you only went up from this. People in the card community never really hear this honest truth side of the hobby, cuz other card influencers would NEVER admit they did something like this cuz of the backlash. Respect & I mean respect. You are the exact person who the card community needs to keep progressing. & collectors NEED to hear this truth side of the hobby
Atlanta is a run heavy offense he was never gonna get the hype to catapult his value. I went the Sam Howell avenue this past off-season.
It'll only drop when another rookie class comes out and gets the next hype. Cut the losses...i say that as ive over held myself a nice herbert rookie.probably down 2k on it now. Just so rare i know I'd never get it back. Praying he gets traded and there is still hope
That was nice. It's all relative, too... a lot of casual collectors drop $30 on prospects that are worth .75 cents now. Hopefully, they like the card for some reason.
Ridder was never good to begin with
I love how you buy cards as a write off and then claim that they're "investments".
Ridder’s ceiling was never even Russell Wilson. Crazy buys. I would take my 75% loss and move on.
Lol the amount of money I've spent prospecting is ridiculous. I was all in on Trey Lance. I no longer buy cards with the intent of selling them. I look at my Trey Lance lot or PJ Washington lot and just have to shake my head.
I don't get the mentality of kicking a man when he's down. Your videos are informative and honest, even when they share failures. I appreciate the advice you've given (and the great tools you offer) as I re-enter the collecting hobby after a 20 year absence. Yep, you took a chance on a hometown guy and it didn't work. It happens! You didn't risk anything you couldn't afford to lose. Keep taking your shots!
We all take L's for believing in a young player and it not working out and the card loses value, but my issue with this channel is calling it "investing." That's an insult to actual investing. It's speculating and gambling, which is what it should be called.
@@Concatenate I hear what you're saying, but I don't agree. Sports cards are more volatile than blue chips, but it's still a form of investing. I invest heavily in the market, and lightly in sports cards. In both cases, I do my research on the stock/player, get as much performance information as I can, read several forecasts of future performance, and make the best decisions I can make.
Last year I bought in on Caterpillar and Brock Purdy, which both worked out. This year I bought the dip on Walgreens and Mac Jones. Bad calls.
For stocks and for sports cards, I do my research, weigh the risks and make my calls. Some times I win (paid a total of $100 for 21 Tom Brady rookies back in 2001- cards which I expect will cover a chunk of my kids' college costs). But, sometimes you pick a Zach Wilson or a Ridder.
Sunk cost fallacy doesn't apply to 1/1... always will retain some value, tremendous upside even if small percentage chance, compared to any other type of card of comparable value. Unless putting it into other 1/1
if i own Ridder, i sell him for whatever i can get. He does not pass the eye test at all as a NFL QB. i doubt the falcons will keep him on the team any longer.
I would just keep them and wait for what the future has in store and if not still a reminder to be humble as you said thanks Geoff great video love it
You'll only lose more money when you start your new business. You're just relying on your wife to bail you out
I believed in Ridder. He has weapons all over. I felt he was an easy win. I bought 25 cards, 21 were graded. And now, I'm looking like an idiot. Lol. It was a fun and interesting gamble for sure.
Remember guys Herbert won’t win a Championship and Trevor
talking about how investments DIDNT turn out, is a side most people dont wanna talk about. There are a lot of card bros out there with videos of themselves spending big money on all those other qbs you mentioned, and we havent heard of peep from them, even tho they were telling us those guys "are the buy right now".
This is all speculation not investment.
This was an excellent, detailed breakdown on the investment of these cards. Thanks for sharing Geoff, I feel there is a lot more to learn from the deals you lose on, but not many successful investors are willing to share their insights on the in the moment and post decisions on these deals.
think in this instance i would sell one and hold one , then you cant start using the money on the one to start building back up to 30k , then have if he comes back you wont feel too awful with still having one of them.
Wow! This changed my whole mind set about cards. You might of lost a lot of money but you help me and more people with tricks. I can’t blame you for buying ridder since your a falcons guy. I just hope you didn’t talk reaves into buying ridder😂.With Joe burrow out I might sell his cards instead of waiting a year.It’s a good learning lesson for you and believe it or not me. Thanks
I'd sell them, and buy a '33 Goudey Ruth card, The Mikan card or a '35 National Chicle Nagurski card. $30k is waaaay too much for an ultramodern QB. I like the fact you swing for fences though. It was a calculated risk
Hey Man. This happens sometimes.. 🤷🏽♂️ You make a decision and then live with it. Market is outta your control. Keep doing your thing!
No big deal. Tax right off. Obviously
When dealing with modern QBs.... It's gambling. You knew this going in. But when you like a player. You like a player. Sometimes going with your gut can suck. But upside is $$$
I'm a Chargers fan so Herbert is what got me into sports cards. I spent quite a bit these few years getting the cards I wanted but at much higher prices. I definitely believe in Herbert and he shows that he can do it, its just that the damn Chargers are cursed. I dont mind holding on to Herbert for his whole career and even just buy some more in the offseason when he's even cheaper than before to balance out what Ive already spent!
Flawed logic about 9/10 start ups failing as 99.5/100 player cards fail long term. Also a company can actually earn money, you're still speculating with a card. Not to mention that Desmond ridder has never really been a touted passer
Probably one of your best videos ever, Geoff
He’s a real one for admitting his mistake
We've all made bad prospecting picks before. It'll happen again too. That is the game.
I just want to know at what point did you watch ridder and say, wow this kid can be a stud lmfao
If you're a real fan of the Atlanta Falcons keep both and hope for the best. From an investment strategy position I would sale one (reinvest those proceeds into someone more favorable) and keep one in case Ridder rebounds... As a big 49er fan I never bought into Trey Lance. I thought they traded away too much to get an injury prone, unproven player who's game experience paled in comparison to other college QB's. They really got lucky with Purdy who I only have a few, lower end cards of. Thanks for the show.
Ive lost 50k to 70k on cards in the last 2 years. Bad deals, scams, and the market crash.
And I'm living paycheck to paycheck now.
I'm not flicking lying.
That's the one thing that sucks about this hobby last few years... Wax is wildly expensive to rip, so its a huge gamble to rip it in the first place, and then holding the prospects instead of liquidating them makes it an even bigger risk.. I'm back to just buying singles of players I PC when their market drops, and hodling everything long term.
I started the season loading up on Jordan Love RC luckily I sold a few on week one but I held on to some of my heavy hitter auto RC thinking he will double in value if keeps playing good. I felt how you are right now my cards tanked big time 😥 I can't sell these cards for the price I payed for on ebay. I'm hoping Jordan Love can preform well & turn his team around. 🤞
I enjoyed the video, and yes, we win sometimes and we lose sometimes. It was a learning experience for me and it happened to me with Kenny Pickett. I picked up some of his bigger cards (Tie-Dye Field Level, NT RPA), one I sent to PSA and it 10'ed, and at the time of this is still a pop 1. Before the season you hear he's put on some muscle, been working on his game, got some good offensive players surrounding him, blah, blah, blah...Well we know how that turned out. On the bright I didn't go all in, just picked up a few big cards to possibly trade for something I wanted more later. I do like the cards I picked up and them being low pop is nice, if he ever turns it around they would be great trade bait. So for right now I am happy holding on to those. Also I live in Atlanta as well and can't wait for the Cards HQ shop to open.
Any asset .ask one question .can I do more with cash from selling. Or do I want to keep .asset..I collect Josh Allen .Kobe..and Jeter
I would sell the cards. Recoup whatever I could without taking a MAJOR HIT IF POSSIBLE, and move on to another investment. I personally buy Hall of Famer Autographs. Certified only and not by what I call " Shop at Home grading companies." They're not worth the slab they're in.
I invested a lot in Etienne this year and he’s been killin it. Waddle too but the injury hurt his stats. I have his optic downtown rc PSA 10 PC for me as a Miami native
I think market for all these fancy high end inserts is very risky. I’d prefer to trade pwcc 100 cards
I didn’t see a problem on taking the risk with a young player. I was just surprised you bought two monster cards. I would have only bought one and maybe a a couple mid to lower tier cards if you truly thought he was going to be a stud.
I was super high on Acuna at the end of the 2022 season. I decided to put $2500 into him but I spread that out over 5 cards.