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- #21
AMAZIN HOF COLLECTOR
New member
I believe its all a big Ponzi scam coming to an end.....
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Another nail in Upper Deck's coffin.......
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Crash Davis
New member
- Aug 19, 2008
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AMAZIN HOF COLLECTOR said:
Just out of curiousity, how is UD a Ponzi sceme?
blanning71
Super Moderator
I really hope that there can be some stability in this market in the near future. I don't know about any of you, but I'm getting tired of the constant turmoil and controversy that this industry seems to drum up. Where the hell did the days go where it was fun and enjoyable? It seems that every other day now, we learn of more fraud, more deception, more legal issues, etc. What is it going to take to right the ship?
Total and utter collapse of the market. As long as fraud remains profitable, it will continue. It's the same in nearly all hobbies, it's just that the $ in this one is a little bit higher, there is more personal investment since it involves the sports we all love, and hits close to home because those of us in the hobby who see it go on know that in the grand scheme of things, there is very little we can do to prevent it other than to not contribute to it ourselves.
blanning71 said:
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- #25
AMAZIN HOF COLLECTOR
New member
Crash Davis said:
Just out of curiousity, how is UD a Ponzi sceme?[/quote:78j83myo]
Sign big names, athletes, and other to contracts to sign autographs. Sell product based on these big names and others. Get payment from wholsalers. Take your cut (millions in salary), pay the people you have to (to keep the scam running), and leave all the others in the learch. The athletes were never going to get paid. Sooner or later there will be no more money, no more credit, no more UD.
bongo870
Well-known member
blanning71 said:
I still find it fun and enjoyable. I just don't listen to this crap and fall into it. What happens happens. I still enjoy opening packs or getting a sweet auto of my favorite player.
I cant stand how some people cry all the time about these card companies and yet still buy there stuff. Has upper deck or topps screwed me over in the past? yup. but I get on with my life because I really enjoy this hobby and I wont let anyone get me down about something I enjoy.
Crash Davis
New member
- Aug 19, 2008
- 685
- 0
AMAZIN HOF COLLECTOR said:
Just out of curiousity, how is UD a Ponzi sceme?[/quote:13qe4x8i]
Sign big names, athletes, and other to contracts to sign autographs. Sell product based on these big names and others. Get payment from wholsalers. Take your cut (millions in salary), pay the people you have to (to keep the scam running), and leave all the others in the learch. The athletes were never going to get paid. Sooner or later there will be no more money, no more credit, no more UD.[/quote:13qe4x8i]
You're failing to insert into your timeline the fact that UD lost a number of lucrative licenses that generated a ton of revenue for them prior to the big fallout.
This is surely no Ponzi scheme; rather, it's a terribly run business.
The athletes got paid, just haven't been made whole. Companies run out of money sometimes. Sad that UD has come to this, though.
goldenegg1
New member
- Aug 7, 2008
- 4,100
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UD needs to get rid of the ridiculous distribution method.
UD is the only product I cannot open in a reasonable time frame. The only thing I've bought of theirs recently is the Marvel Avengers stuff that hit Walmart before the hobby shops.
UD is the only product I cannot open in a reasonable time frame. The only thing I've bought of theirs recently is the Marvel Avengers stuff that hit Walmart before the hobby shops.
mchenrycards
Featured Contributor, Vintage Corner, Senior Membe
blanning71 said:
Its still fun when you are not worried about opening new stuff and hoping to turn a profit on it! Its when people who rip wax always try to turn a profit on the cards they get instead of actually "collecting" them as this hobby dictates is what worries many people. Many have come to the realization that modern stuff is not what they like to collect because of all these issues. They never worry about if a company is not able to deliver on their redemption cards or even if the value will drop of their memorabilia because the market will be flooded with cheaper items as the result of bankruptcy.
I collect 1070's era Topps as this is what I grew up with and I will also buy an occasional modern pack just on a whim to see what the new cards look like. I am also partial to the Topps Heritage brand and have purchased some of that and I can tell you I am so much happier with my hobby because I do not worry about the next new hot product or if I will ever get the redemption cards I purchased or pulled. I know my view is not the majority view shared by many here but that is still a hobby and we all can collect whatever we want in whatever way we want. One just needs to remember there are pitfalls when ripping modern stuff and the only one's making money on these cards are usually only the manufacturers, unless you have a terrible CEO like Upper Deck does and in that case you end up like they are today...a shell of their former self.
blanning71
Super Moderator
Don't get me wrong, I still have joy in the hobby. Its just too much of "what does it book?" and "how much can you get on ebay for that?" kinda people. I guess I have found myself surrounded by people looking to make money rather than collect because they love the cards.
- Thread starter
- #31
AMAZIN HOF COLLECTOR
New member
Is it fun to hit a redemption you KNOW you will never see????
mchenrycards
Featured Contributor, Vintage Corner, Senior Membe
blanning71 said:
I cant agree with you more that is why I went back to collecting the cards I grew up with in raw form. Those card values are set and do not have much fluctuation. The only thing I have to worry about is if a card is trimmed and that is easy to determine. I have found it much more fun than to worry about collecting modern.
