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IPO InsightEmeka Okafor aims to repeat Howard's strong performance

By Adam Moeller (e-mail)

October 27, 2004


Below is just my opinion and analysis of this week’s IPO. They are offered only as opinion and to encourage discussion. Looking forward to your own opinions and comments.

Al Jefferson (1,000 @ $4.50)Al Jefferson 2004 eTopps

eTopps humbly takes a step back this week and we see a reduction in the maximum print run of a player to 1,000. They are once again implementing the theory that less will mean more. Jefferson, the 15th overall pick, is straight out of high school. In his Senior year he averaged 42.6 points and 18.0 rebounds per game. He will take some time to develop into the NBA playing style and there are some doubts about him controlling his weight, which has neared 300 pounds in the past. Of the 4 rookie basketball cards from the 2003 set with 1,000 print runs, 3 are holding IPO (Collison, Arroyo, Ebi) and 2 are above (Barbosa, Howard). Jefferson should have limited impact in his first year and because of that only has long term potential. So if you buy this card don’t expect any immediate gains, instead plan on holding it for a while. I like this card for set collectors and Celtics fans but suggest that others look elsewhere. I would consider this card a safe buy at IPO.

Emeka Okafor (3,000 @ $5.00)Emeka Okafor 2004 eTopps

Emeka Okafor was the #2 pick of the NBA Draft and helped his team win a National Championship in his final year in college. He averaged 17.6 points, 11.5 rebounds and led the nation with 4.1 blocks per game. He has all the intangibles to become great and should be recognized as the Bobcats’ franchise player for years to come. A maximum of 3,000 for the top 2 picks seems like a steal after Lebron and Carmelo debuted last year at 10,000 and 5,000. And as expected Dwight has increased in value since his IPO last week. I would expect nothing but the same for this card. At $15,000 there is a lot of room for growth. I would consider this card a great buy at IPO.

Josh Childress (2,000 @ $4.25)Josh Childress 2004 eTopps

Childress was the #6 overall pick out of Stanford. He averaged 15.7 points, 7.5 rebounds per game and had a 39.5 three-point percentage. He’s also got a huge wingspan. However, he was never the go to guy in college so it’s difficult to say what kind of impact he’ll have in the NBA. At the same time he will be playing for the Atlanta Hawks. I really don’t think this guy has done anything to deserve a print run of 2,000 or a starting market cap of $8,500. If this sells a good amount it will decrease in value after IPO. I would consider this card a bad buy at IPO.

Lebron James (2,000 @ $5.00)Lebron James 2004 eTopps

Well, if it isn’t the second coming of Lebron James... His rookie card was gold -- will the 2nd year version be silver? I would compare this situation to Vick’s rookie and 2003 card. Vick is the only comparable athlete that benefited from the hype of the media. Before Lebron had even stepped on the court he was being heralded as the next Michael Jordan. The 2003 Vick has a 1,512 print run and at its highest price its market cap was valued at about $22,500. I don’t think Lebron will ever be forced to learn the west coast offense and thus shouldn’t suffer from the depreciation that all Vick cards are now experiencing. Thus I like the $22k target for Lebron and maybe then some. A card five times as rare as his rookie does appear attractive. I would consider this card a definite buy at IPO.

Luke Jackson (2,000 @ $4.25)Luke Jackson 2004 eTopps

Jackson was the 10th overall pick in the draft out of Oregon. He averaged 21.2 points and 7.2 rebounds in his senior year. Scouts are concerned about his defensive ability and his quickness. Once again I don’t like the maximum 2,000 print run on any crapshoot rookies. Wait and see on this one because a large print will decrease the value of this card significantly after IPO. I would consider this card a bad buy at IPO.

Detroit Pistons Team Card (1,000 @ $6.50)Detroit Pistons 2004 eTopps

Target: 10 wins in November, 56 wins in regular season

Last week Miami debuted with a target of 11 wins out of their 16 games in November. This week Detroit is faced with 10 wins out of their 14 games in November. The odds are a bit tougher against the defending national champs. But then again they are the defending national champs. With so many months of basketball and the 1,000 print run I like buying this card at IPO. The Heat is now more expensive in the secondary market and I would expect the same from this card. I would consider this card a good buy at IPO.

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