Man Spends $375k On First Edition Pokémon Cards Only To Find Out They’re Fakes
In an interesting investment opportunity, one man spent $375,000 (£287,000) on a box of unopened Pokémon trading cards, only to discover they’d been tampered with.
With the price for the sought after and highly rare Pokémon cards rocketing throughout 2020, ‘social arbitrage investor’ Chris Camillo, who is also one of the hosts of YouTube channel Dumb Money, decided to make the purchase of the hard-to-find cards.
Live-streaming it via his YouTube channel, he and his associates filmed the entire process, which went on for almost an hour, as the guys gathered around the masked box opener sitting at a table, armed with their cameras and smart phones to capture the glorious event.
However, after the initial unsealing of the outer box appeared to go well, tragedy struck as he began to carefully remove the packs of sealed cards from its container.
The problem? They weren’t properly sealed packs at all, after one observer noted that two of the same designed covers had different colours on them, The Guardian reports.
‘Ooh, the colour’s different on that one and that one,’ one of his advisors said. ‘That one’s not a first edition pack.’
The ball dropped seconds later when a further rummage revealed some of the packets had been resealed and could just fall open, showing common cards rather than the ‘booster’ packs that were meant to be included in the huge purchase, as another attendee said, ‘Yeah look, they’re open.’
One of the attendees, Jake Greenbaum, a ‘blockchain entrepreneur’ is known as Logan Paul’s personal Pokémon trading card consultant, after the YouTuber, along with former rapper Logic, spent an incredible $226,000 (£173,000) on a single card dating from the 1990s.
‘That’s an issue,’ said Greenbaum upon noticing the tampered state of the box, before immediately phoning the seller to secure a refund. ‘Yeah, no, that’s a major f*cking issue,’ as the discovered most of the packs were open and they called the seller.
A silver box lay on the table beside them, after the sellers had requested a cash transaction (which does come across as a tad suspicious for such a large sale), that was allegedly filled with crisp $100 bills, though the handover ultimately didn’t take place.
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