As the Market continued to tumble, I decide to reevaluate the prices of my listings on the Marketplace. Additionally, I had yet to make a single sale and I needed to experience that proof of concept moment.
Does it work? Can I actually make money?
After the success of my first fruitful pack drop, I hit the Marketplace.
Wednesday (March 24th) – Battling The Market Slide
I focused on employing a ‘Lowest Ask’ pricing method for three of my moments:
– Porzingis ($14)
– Sexton ($10)
– Boucher ($18).
I even reduced the RJ Barrett Cool Cats Moment from $190 to $95: a big reduction, but this was all profit if it could get the sale across the line.
My thinking was that I would get some liquidity and leverage it to eventually acquire a higher value Limited Edition.
The RJ Barrett pack sold in less than an hour after listing for $95. The rest sold even quicker and my balance sheet was in the black again.
– RJ Barrett sold for $95
– Kristaps Porzingis for $14
– Chris Boucher for $18
– Collin Sexton for $10 (sold on Thursday morning)
Profit: $125 + still holding the Joel Embiid low serial #52.
Thursday (March 25th) – Liquid
I started the day by listening to The First Mint speak about liquidity in the market. Everyone in the Marketplace is talking about it being a bear one and that the dips are affecting everyone. I’m feeling pretty good though that I’ve been able to flip my $12 pack into $125 of profit.
My position on Moment Ranks reduced slightly overnight, but I was still in a positive position of +$186.
Meanwhile, the Joel Embiid moment has been dropping dramatically from its value of circa $1000 to $249 so I’ve decided to hold onto it until the market returns to a stronger position. While a sale still represents pure profit, a medium term outlook on the #52 serial could prove to be a lot more fruitful.
Hopefully, it’s a tactic that will pay off.
My current collection looks like this:
– Joe Ingles S2 Common CC @ $5
– Markieff Morris S1 Rare LE @ $645
– James Harden S2 Common LE @ $265
– Karl-Anthony Towns S2 @ $74
– Josh Okogie S2 @ $13
– Bradley Beal S2 @ $16
– Joel Embiid (Pack)
– Cool Cats Series 2 @ $12
– Pack included: Embiid
Total Expenditure: $1030
My portfolio is currently valued, according to MomentRanks, at $1179.
Status After Week 2.5: +$186