Yeah Panini has dropped the ball.
I saw this guy on Youtube who charges outrageous monthly subs to get into his group breaks on the what not app. He bought like a 3K hobby box and only made about $300 back, he looked like he wanted to cry. But that's the new card hustle, charge crazy prices for group breaks because a lot of newbies think they can get rich quick.
Cards should should be a side hustle thing but you got dudes taking their mortgage payments, taking out payday loans, maxing out their credit cards just to try to break even hoping they can sell their cards to make their money back. Some people made a lot of money in '20 when things exploded but the other side of the game is dirty..
It's most likely some shill bidding going on with that.
I never did breaks but it USED to be a good way for people to buy into high end products (like National Treasures when it was $500/box or Flawless at $1,000) or 8-16 box case breaks of Prizm, etc. Now, it's $1,000 for one box of Prizm and $5,000+ for NT/Flawless.
It's one thing to throw a few hundred bucks at a 16 box break of Select. It's another to do it for a single box.
Panini cut out all the small card shops too (Fanatics is doing the same) so it made boxes almost impossible for regular collectors to get. I used to get a box of Hobby Prizm at a shop out here. Once the boom happened, his allocation went down to next to nothing. Meanwhile, Blowout, DA, Steel City, Burbank and the other massive retailers were getting 95% of the product and jacking up prices 3-10x MSRP.