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)

Total: $137
Cost: $12
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.

Progress Update

My current collection looks like this:

Moments

– 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)

Packs

– 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

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s