The hype machine has done its job then lol
One of the greatest speculative bubbles and herd mentality of our hobby lives will be these new PMG cards and the 08-09 PMGs. Intrinsically, these cards are worth a couple of dollars at best for the materials and cost of printing. There's two main emotions that fuels every speculative bubble and volatility in assets: greed and fear. The way I see it, there's three groups of people who are adding to the madness of the masses and herd mentality:
The primary investor:
In a flawed and non transparent auction site, it is entirely plausible and even probable to manipulate prices with a small network or group of people working in collusion to make a huge profit.
The secondary investor:
Enter the greed of the secondary investor. This group of people observe the so called "completed" sale prices of the PMGs, and the possibility of hitting a card that will sell in the thousands of dollars for their investment start pushing up the cost of boxes and cases.
There's another group of people that fall in this category, the "flippers". They see an opportunity to make money by buying "undervalued" cards and speculate that the cards will rise in value in the near future. They too contribute to the artificially inflated prices.
The card collector:
Finally, the fear of a player collector that they may never be able to get a hold of another copy of the card and mass hysteria forces these groups of people to act irrationally and push up the price as ruled by their emotions.
Amidst all of this, one has to ask, who is spending all the money? In an economic recession in the US and Europe, who are these people who are spending thousands of dollars on non essential items? Those three categories seem to cover it, but one has to wonder. Who would benefit the most from the hype and sale prices? Is Upper Deck manipulating the market with primary investors placed to push up the value of the sales and generate a huge demand for the unsold stock at hand?
Don't be a sheep. If you are one, pray that you get out of the way before the rest of your herd is led to the slaughterhouse.
Food for thought.