Updated: October 29, 2020 9:27:42 pm
From WWE Trump cards to Pokémon, collecting trading cards are a hobby for many people around the world who would not dither in shelling out large sums for rare or unique items. However, a $375,000 deal for a box of rare first-edition Pokémon cards — livestreamed on the internet — ended in disaster for YouTuber when the haul turned out to be fake.
American investor Chris Camillo developed an interest in Pokémon trading cards after he saw the market for the cards rocket last year, The Guardian reported.
For Camillo, one of the hosts of the YouTube channel “Dumb Money”, the bidding deal was an opportunity for a long-term profit and previous purchases by celebrities such as Logan Paul and rapper Logic, who according to the news website paid $226,000 (£173,000) for a single “Charizard” card, only encouraged him to go for the deal.
On opening the sealed box, the YouTuber was stunned to find that the Pokémon cards were counterfeit. Fortunately, the money was yet to be paid and was sealed in a silver briefcase full of $100 bills during the live broadcast.
Watch the video here:
$375k FAKE #Pokemon box…
That’s why you buy PSA/BGS graded!
Are you kidding me!?!? pic.twitter.com/Ltx3OH2Pxx
— Crypto King (@JBTheCryptoKing) October 27, 2020
The box, which was to be filled with the first edition cards, was full of damaged and worthless sets. “Ooh, the colour’s different on that one and that one,” says one of Camillo’s associates in the video, which was shared by @JBTheCryptoKing. “That one’s not a first edition pack,” said another.
The sellers of the pack were led by one Jake Greenbaum, who describes himself as “Trader. Builder. Blockchain Entrepreneur”. The group had themselves bought the box, which was meant to contain 36 unopened “booster” packs and a total of 396 cards, from an unnamed third party.
Since being shared online, the video has been shared widely on social media and prompted many reactions among netizens.
$300,000 – $400,00
— mex (@credingz) October 28, 2020
Shoulda bought #bitcoin 😏
— ฿itcoin ฿enny ℹ (@BitcoinBenny_) October 27, 2020
That’s not good
— HEBIV (@Henry_Boyd) October 27, 2020
Rekt. Hope you can find the person who sold you the cards. Probably already gone…
— Ⓥechain Ⓥiking (@vechain_viking) October 27, 2020
Stick to actual auctioneers if you’re spending that much…
— Samuel JJ Gosling (@xGozzy) October 27, 2020
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