1 00:00:00.200 --> 00:00:03.400 This story really caught my attention online because it had a shiny card 2 00:00:03.400 --> 00:00:06.500 on it and we're talking about a shop 3 00:00:06.500 --> 00:00:09.600 called car-fi down south and it's 4 00:00:09.600 --> 00:00:12.100 owned by Edward Siegel now Siegel, he was 5 00:00:12.100 --> 00:00:15.600 part of the MCA space you're familiar with them and then 6 00:00:15.600 --> 00:00:18.700 he opened up this shop down south called card finds. 7 00:00:18.700 --> 00:00:21.200 What they do is they evaluate the 8 00:00:21.200 --> 00:00:24.200 market value of a card and then they make an advance against it now, 9 00:00:24.200 --> 00:00:28.800 this is cool because I was actually talking about this with a friend of mine how cards 10 00:00:28.800 --> 00:00:31.900 are very valuable if you have a 11 00:00:31.900 --> 00:00:34.800 valuable car like, you know baseball cards, 12 00:00:34.800 --> 00:00:37.700 they're valuable. Yeah, but they're 13 00:00:37.700 --> 00:00:40.900 valuable. If you have the card, you know, baseball card 14 00:00:40.900 --> 00:00:43.900 sports card football baseball, you know, 15 00:00:43.900 --> 00:00:46.200 I was talking to Buddy mine and he was saying that a Pokemon 16 00:00:46.200 --> 00:00:49.900 card is going for over it. So at 300,000 dollars, 17 00:00:49.900 --> 00:00:52.700 that's a lot of money. Yeah far that, 18 00:00:52.700 --> 00:00:55.000 you know guys just do around as a kid 19 00:00:55.200 --> 00:00:58.200 and now they're with all this money. So when you 20 00:00:58.200 --> 00:00:59.300 when when you 21 00:00:59.900 --> 00:01:02.500 Heard about what would Ed was I 22 00:01:02.500 --> 00:01:06.000 call him? I call him Edward what Edward 23 00:01:05.400 --> 00:01:06.600 seago was doing? 24 00:01:08.200 --> 00:01:11.400 What went through your mind, I mean this is this is fa unique 25 00:01:11.400 --> 00:01:14.100 approach because it's been dealing with 26 00:01:14.100 --> 00:01:17.000 cars, you know, it's sports cards, you know, 27 00:01:17.100 --> 00:01:20.300 just all these different types of valuable cards. What went through 28 00:01:20.300 --> 00:01:23.100 your mind John. I mean this was unique. This is definitely unique approach. You know, 29 00:01:23.100 --> 00:01:26.700 what's funny I had to do an interview with him before the interview because I 30 00:01:26.700 --> 00:01:29.400 was worried. I didn't completely understand it. Yeah, right. 31 00:01:30.200 --> 00:01:34.100 So I said just you know walk me through this because I 32 00:01:33.100 --> 00:01:36.300 as you know, the average I guess 33 00:01:36.300 --> 00:01:39.200 Millennial Gen X in generation, 34 00:01:39.200 --> 00:01:42.200 I grew up with baseball cards. Yeah, it had baseball cards. I had Marvel 35 00:01:42.200 --> 00:01:43.500 cards. I had some football cards. 36 00:01:44.300 --> 00:01:47.600 And so I collected baseball cards in the 90s and there's still 37 00:01:47.600 --> 00:01:51.000 kicking around somewhere or other and sure 38 00:01:50.800 --> 00:01:53.300 I recognize that some 39 00:01:53.300 --> 00:01:56.300 of them might be valuable. Now. I know that people trade them and collect, 40 00:01:56.300 --> 00:01:59.300 you know this collectors and you know, there's eBay and 41 00:01:59.300 --> 00:02:02.300 you know, I grew up new knowing that a Mickey Mantle was 42 00:02:02.300 --> 00:02:05.500 worth a lot everyone knew that right everyone 43 00:02:05.500 --> 00:02:08.500 knew the Mickey Mantle was worth a lot Mickey Mantle rookie card. That 44 00:02:08.500 --> 00:02:10.800 was the dream card, which I never had obviously. 45 00:02:11.900 --> 00:02:14.700 But there is a market apparently where you 46 00:02:14.700 --> 00:02:17.300 can you could some companies will offer you alone 47 00:02:17.300 --> 00:02:20.500 against a card others will offer you in advance, like would 48 00:02:20.500 --> 00:02:23.300 card buyers Joanne. They'll give you an advance against the card 49 00:02:23.300 --> 00:02:26.000 and it does work similar to an MCA. 50 00:02:26.700 --> 00:02:30.400 But I started to think about you know, how what's the 51 00:02:30.400 --> 00:02:34.000 scalability of this business because my mind immediately went back to Mickey 52 00:02:33.500 --> 00:02:36.300 mantles. Yeah, how many Mickey mantels are there? 53 00:02:36.300 --> 00:02:39.700 And he said showing you got to realize this is not just about vintage 54 00:02:39.700 --> 00:02:42.900 baseball cards. It's about modern cards 55 00:02:42.900 --> 00:02:45.500 and there's more than just baseball. It's like football there's 56 00:02:45.500 --> 00:02:48.800 basketball as well hockey, you know? Yeah in 57 00:02:48.800 --> 00:02:51.400 a hockey and I said, yeah, but for like 58 00:02:51.400 --> 00:02:54.500 a like a current player, yeah. Well, you 59 00:02:54.500 --> 00:02:57.600 know, like how much could that be worth and boy did 60 00:02:57.600 --> 00:03:00.100 he educate me? And I and I had to go 61 00:03:00.100 --> 00:03:03.100 and do my own reasons. This is why I had to do the call before the call. Yeah. He said 62 00:03:03.100 --> 00:03:07.100 people are are taking loans against current players people 63 00:03:06.100 --> 00:03:09.300 who are currently playing right? So we 64 00:03:09.300 --> 00:03:12.100 don't even know how their career is going to turn out and people are taking 65 00:03:12.100 --> 00:03:15.900 loans or advances against these cards and I said no, right 66 00:03:15.900 --> 00:03:18.300 but they are and these 67 00:03:18.300 --> 00:03:21.400 cards can be quite valuable. I think it's a Justin Herbert 68 00:03:21.400 --> 00:03:24.900 car. He's what third year in the NFL. Yeah. What's 69 00:03:24.900 --> 00:03:26.200 there was an auction going. 70 00:03:26.600 --> 00:03:29.800 Or one of his cards. And the 71 00:03:29.800 --> 00:03:32.300 last time I checked the top bid at 72 00:03:32.300 --> 00:03:36.000 the time was over a million dollars. This guy's he his 73 00:03:35.200 --> 00:03:38.400 career is just starting sure. He's had a 74 00:03:38.400 --> 00:03:41.500 great start. He's done got a lot of potential right but 75 00:03:41.500 --> 00:03:44.400 to think that his card could already be worth it a 76 00:03:44.400 --> 00:03:47.500 million notes. It blew my mind. Yeah. It blew my 77 00:03:47.500 --> 00:03:50.800 mind. Did you collect cards at all when you like it? So so I was kind of a little 78 00:03:50.800 --> 00:03:53.200 bit after you know, what you 79 00:03:53.200 --> 00:03:56.200 described. So my the group of friends and my girlfriends was you know, 80 00:03:56.200 --> 00:03:59.200 was Pokemon cards, you you go cards like, you know, all 81 00:03:59.200 --> 00:04:02.200 those type. Of course, especially for the Pokemon cards. That's 82 00:04:02.200 --> 00:04:05.700 what we're talking about with my buddy that there's certain cards that you know, 83 00:04:05.700 --> 00:04:08.300 you like, you know, you're in the playground 84 00:04:08.300 --> 00:04:12.000 playing dropping it like, you know, and now 85 00:04:11.200 --> 00:04:15.000 these cards are worth like, you know over 200,000 86 00:04:14.400 --> 00:04:18.600 you like up to a million dollars and there's a 87 00:04:18.600 --> 00:04:21.300 company that you know, they they'll categorize it 88 00:04:21.300 --> 00:04:24.500 and and make sure it's like authentic and they'll give 89 00:04:24.500 --> 00:04:26.200 it like a rating and if it's a certain rating 90 00:04:26.800 --> 00:04:29.400 It goes past a certain like 91 00:04:29.400 --> 00:04:32.500 value. It's just it blows my mind because these records that 92 00:04:32.500 --> 00:04:35.600 were less than like two three bucks. Yeah, and 93 00:04:35.600 --> 00:04:36.300 now they're worth. 94 00:04:36.800 --> 00:04:39.400 a lot and I wish I would have been that kid that had a 95 00:04:39.400 --> 00:04:42.300 binder and had the sleeve and had all the cards well collected 96 00:04:42.300 --> 00:04:42.600 because 97 00:04:43.700 --> 00:04:46.800 I could have probably been retired by now. Yeah, well, 98 00:04:46.800 --> 00:04:49.400 you know, there are certain reasons, 99 00:04:49.400 --> 00:04:52.800 why cards can be worth a lot and my 100 00:04:52.800 --> 00:04:55.800 mind immediately went to well, it's Mickey 101 00:04:55.800 --> 00:04:59.000 Natural rookie so has to be worth a lot. But you mentioned like grading 102 00:04:58.100 --> 00:05:01.600 of the cards. Yeah, so you have to get like a PSA grade 103 00:05:01.600 --> 00:05:04.400 by cardfight for example will not make an advance 104 00:05:04.400 --> 00:05:08.100 against the car that has not been PSA graded. So it's essentially has 105 00:05:08.100 --> 00:05:11.300 to be authenticated as well and then it gets a grade on the quality. 106 00:05:11.300 --> 00:05:14.300 So if it's all bent up and stuff that's gonna get a really low 107 00:05:14.300 --> 00:05:17.000 grade 10 is the highest grade one of the 108 00:05:17.400 --> 00:05:21.400 lowest and so there was actually a Mickey Mantle believe it or not a 1952 109 00:05:20.400 --> 00:05:23.300 tops Mickey Mantle card that recently sold 110 00:05:23.300 --> 00:05:26.200 out auction for 12.6 million dollars and I had 111 00:05:26.200 --> 00:05:30.600 a PSA grade of 9.5 which is considered men on 112 00:05:29.600 --> 00:05:32.900 the only 52. Topps card 12 million 113 00:05:32.900 --> 00:05:35.000 six million, that's crazy. So, you know 114 00:05:35.600 --> 00:05:39.900 and here you have, you know, Ed Eddie 115 00:05:38.900 --> 00:05:41.300 Siegel and cardify. He 116 00:05:41.300 --> 00:05:43.100 actually showed he was holding a 117 00:05:43.600 --> 00:05:46.300 At 52 mantle and one of the Instagram videos, but it was 118 00:05:46.300 --> 00:05:49.500 a PSA 4, right? So the quality the quality 119 00:05:49.500 --> 00:05:52.000 was was lower. Yeah, and so 120 00:05:53.200 --> 00:05:56.400 There's also other factors involved like how many of these cards were made? 121 00:05:56.400 --> 00:05:59.600 Yeah, were there 10,000 of them? Yeah, because he's 122 00:05:59.600 --> 00:06:01.000 like showing if there were only five. 123 00:06:02.300 --> 00:06:05.200 Five of this particular card. Yeah, even if it's 124 00:06:05.200 --> 00:06:08.300 a current player think about it. There's only five or there's only what if 125 00:06:08.300 --> 00:06:11.900 there's only one there's only one right? I hadn't 126 00:06:11.900 --> 00:06:14.800 thought about it at all. It's the scarcity Factor plays 127 00:06:14.800 --> 00:06:17.300 it plays a role in the value of the card and then 128 00:06:17.300 --> 00:06:20.200 you can take advances against these particular card. He had this 129 00:06:20.200 --> 00:06:23.200 whole slogan and catchphrase I went with it. I can't remember what it was. 130 00:06:24.200 --> 00:06:27.000 But then he he's told me that like I'm like, how do you 131 00:06:27.200 --> 00:06:30.500 find how do you find these people? Who's doing this? Right? Yeah. How 132 00:06:30.500 --> 00:06:33.200 do you find these people? How do you find these people? 133 00:06:33.200 --> 00:06:36.300 So he goes to sports card 134 00:06:36.300 --> 00:06:39.100 like trade shows? Okay. There's a they have 135 00:06:39.100 --> 00:06:42.300 them out. Like they have like big conventions and stuff like that and people will 136 00:06:42.300 --> 00:06:45.200 bring their cards and no sometimes it said 137 00:06:45.200 --> 00:06:48.200 he'll literally he'll evaluate the value right there and he'll make 138 00:06:48.200 --> 00:06:51.400 the Advance on the spot like in in person. So he holds on 139 00:06:51.400 --> 00:06:54.500 to the car though, right? He holds on to the card. Okay, he has 140 00:06:54.500 --> 00:06:58.800 an actual bank vault in his office. Okay, you 141 00:06:57.800 --> 00:07:00.200 can watch the videos on Instagram. He's 142 00:07:00.200 --> 00:07:03.200 got the dial and everything is you go in there and it's got all these 143 00:07:03.200 --> 00:07:06.500 little other little cubbies in there. So he'll give you the advance 144 00:07:06.500 --> 00:07:07.800 he holds on to the card. 145 00:07:08.400 --> 00:07:11.400 And then what and then you know, if the advanced completes 146 00:07:11.400 --> 00:07:14.700 you can take that possession of the card back, although he 147 00:07:14.700 --> 00:07:16.300 said many people choose to renew. 148 00:07:16.900 --> 00:07:19.700 So he'll hold on to the card and he'll re-extend funds 149 00:07:19.700 --> 00:07:22.200 that you can get a renewal. It's very similar to 150 00:07:22.200 --> 00:07:25.500 and said that's very similar to MCA and 151 00:07:25.500 --> 00:07:28.100 I and he was talking about like factories and so 152 00:07:28.100 --> 00:07:31.300 forth. I don't remember what the cost was but he's talking about underwriting systems 153 00:07:31.300 --> 00:07:34.700 and like pre-approvals and all this technology 154 00:07:34.700 --> 00:07:37.400 and that he's like we can even take referrals from 155 00:07:37.400 --> 00:07:37.700 brokers. 156 00:07:39.700 --> 00:07:40.900 What are you doing later today? 157 00:07:41.900 --> 00:07:44.200 What am I doing? Yeah. Why should we go to 158 00:07:44.200 --> 00:07:47.600 your mom's basement? Yeah going to my mom's basement. Mom. Don't 159 00:07:47.600 --> 00:07:50.400 throw out that binder. I might have a Jeter rookie 160 00:07:50.400 --> 00:07:53.900 in there. I actually do think I might have a Jeter rookie. What what 161 00:07:53.900 --> 00:07:56.600 grade do you think it's gonna get? Ah, and I 162 00:07:56.600 --> 00:07:59.100 used to beat those cards up and you know, I was the, you know, 163 00:07:59.100 --> 00:08:02.600 I put a lot of them in the sleeves in the binders, right? That's what people did and 164 00:08:02.600 --> 00:08:05.300 then I also I did buy a whole top set. I 165 00:08:05.300 --> 00:08:08.800 don't remember what year it was with a 93 92 94 91, maybe 166 00:08:08.800 --> 00:08:11.400 with 90. Okay, but I had the whole box about 167 00:08:11.400 --> 00:08:14.200 the whole thing. Okay, but you know, I went through every card a million 168 00:08:14.200 --> 00:08:17.200 times. I used to take out the player and like look at 169 00:08:17.200 --> 00:08:20.100 the stats and then like I want to find my favorite one, you know 170 00:08:20.100 --> 00:08:23.500 what I mean? I'm like, oh I got the Nolan Ryan, you know, they put 171 00:08:23.500 --> 00:08:26.300 it asleep and then I'm like, oh this one's going in the sleep, right 172 00:08:26.300 --> 00:08:29.100 and I'll put all the ones I don't really care about just leave those and those ones in 173 00:08:29.100 --> 00:08:32.500 the box, right? But you have to go through them to see which one can get 174 00:08:32.500 --> 00:08:35.400 you money. You know, it's not a bad idea. I probably 175 00:08:35.400 --> 00:08:38.800 I'm going to do that at some point. You know what I have 176 00:08:38.800 --> 00:08:41.500 study. I'm like What's the whole Genesis for you 177 00:08:41.500 --> 00:08:41.800 getting? 178 00:08:41.800 --> 00:08:44.200 Into this business and he said it was always a passion of 179 00:08:44.200 --> 00:08:47.000 his he'd been doing it for a long time and he wanted to kind of 180 00:08:47.200 --> 00:08:50.400 get into it again, but he said covid and 181 00:08:50.400 --> 00:08:53.700 lockdowns really escalated people 182 00:08:53.700 --> 00:08:56.100 with interest because they were sitting at home and what do they do? He 183 00:08:56.100 --> 00:08:59.300 said they wanted her basements and they dug out their old baseball cards and then 184 00:08:59.300 --> 00:09:02.300 one on eBay said hey, what does this worth and people found 185 00:09:02.300 --> 00:09:05.200 out that they're worth quite a bit and then there were people who wanted to buy them 186 00:09:05.200 --> 00:09:08.200 everyone just stuck at home on your computer. Yeah. They said the market 187 00:09:08.200 --> 00:09:08.800 exploded. 188 00:09:09.700 --> 00:09:12.200 And of course I had to ask him I said, 189 00:09:12.200 --> 00:09:16.400 yeah, but aren't like cards becoming like nfts and 190 00:09:15.400 --> 00:09:18.100 still now remember you talked about energy. I know you 191 00:09:18.100 --> 00:09:21.200 don't believe about you know, I believe in you believe you believe 192 00:09:21.200 --> 00:09:24.300 in them. Now you believe in them, but I had to ask the same 193 00:09:24.300 --> 00:09:27.800 question because sports players now are releasing cards in 194 00:09:27.800 --> 00:09:30.200 nft. Format. No cool. They're like 195 00:09:30.200 --> 00:09:33.300 holiday stuff. Yeah that said is that eating into this Market? 196 00:09:33.300 --> 00:09:34.000 They said no. 197 00:09:35.300 --> 00:09:38.600 A physical Card Market is not being impacted by 198 00:09:38.600 --> 00:09:42.400 the nft market because collectors sports 199 00:09:41.400 --> 00:09:44.500 cards collectors want the physical 200 00:09:44.500 --> 00:09:47.700 card just like you were saying I'm telling you. I've 201 00:09:47.700 --> 00:09:50.300 always been implicit. I'm all up for nmts all 202 00:09:50.300 --> 00:09:54.000 that stuff like, you know, the all the 203 00:09:53.200 --> 00:09:56.500 virtual thing the metaverse but there's always 204 00:09:56.500 --> 00:09:59.500 something about this. Yeah it personally if it was myself 205 00:09:59.500 --> 00:10:02.500 I would want the physical card too. I wouldn't want the Derek Jeter 206 00:10:02.500 --> 00:10:05.500 nft. Yeah, if I could have the real Derek Jeter physical rookie 207 00:10:05.500 --> 00:10:08.000 card, you know what I mean? I mean sure if you want to send me 208 00:10:08.400 --> 00:10:11.600 the Jitter end of Teen and tell me it's worth a lot of money. I'll take it from you. Yeah, but am 209 00:10:11.600 --> 00:10:14.400 I gonna go out and buy it? I'm not gonna go out and buy it. Yeah the Jeter 210 00:10:14.400 --> 00:10:14.600 rookie. 211 00:10:15.400 --> 00:10:18.400 Maybe maybe you know the mantle the Mantle rookie. 212 00:10:18.400 --> 00:10:21.900 I'll take that. Yeah, maybe maybe if you 213 00:10:21.900 --> 00:10:24.200 want to send me a mental rookie card, I'll 214 00:10:24.200 --> 00:10:27.000 take it from here. Yeah, that's awesome. I love that story. You know, 215 00:10:27.300 --> 00:10:30.500 I think the thing I love about that story is because it's so unique. 216 00:10:30.500 --> 00:10:33.400 I have never heard anything like this before so 217 00:10:33.400 --> 00:10:36.600 when he first called me and it's like, you know, it's talking about baseball cards 218 00:10:36.600 --> 00:10:39.200 this really gonna be yeah this like a deep Bank 219 00:10:39.200 --> 00:10:42.100 story. Yeah, you have to start. Yeah, you mean like it's 220 00:10:42.100 --> 00:10:45.500 something something baseball cards. I got to think about what the readership 221 00:10:45.500 --> 00:10:48.400 is really gonna be interested in. Yeah, and then, you know, then he 222 00:10:48.400 --> 00:10:51.800 entered is the whole you taking advantage against the card it 223 00:10:51.800 --> 00:10:54.200 goes into the system Brokers can refer deals and 224 00:10:54.200 --> 00:10:57.100 I'm like, yeah, I want to write about it. Yeah.