Back to the OP, which is whether the recent surge in Wagner prices is sustainable, as it could impact one’s decision whether to sell an M116 Blue Wagner….
Personally, I think Wagner cards, along with numerous other pre war players, have been very undervalued for a long time, and I think the recent surge is a reflection of that. Additionally, I think Wagner, for the reasons stated earlier, is in a unique group of transcendent players, who will remain desirable to future generations (Ruth, Cobb, Jackson, Gehrig, Mantle, Mays, Robinson, Aaron). Add the relative rarity of Wagner cards (100+ years old, played a bulk of his career in the early 1900s before the rise of most T, D, and E cards, and very few tobacco issues), and I think you have a nice recipe for stability and perhaps additional appreciation. One last factor is that, I bet, most people buying Wagners at these prices can afford to hold them, which means there is unlikely to be a dumping of Wagner cards that leads to a value spiral.
Now, the question of whether now is the time to sell…? That is personal question that I think depends principally on whether you have a better use for the after-tax proceeds.
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