The market for this stuff is far bigger than most think. While it doesn't make a lot of sense on the whole, some of the super high grade 1980s 'classic' rookie cards ('76 Walter Payton, '81 Montana, '79-80 Bird/Magic, etc) are where the interest lies for those who remember those players from childhood and the hotshots with a lot of money would rather spend it on something they have an emotional tie to.
The current card 1-1 shiny market is another branch of that. They've totally bought in to the concept and while they may lose big once in awhile, the wins are enough to keep them working it. Those 1-1s have completely changed the rookie card market.
Again, it doesn't make a lot of sense (I keep thinking "Mark Prior") but it's a very active, vibrant part of the hobby. I think the collectors/speculators of that market do appreciate the pre-War stuff very much, but for a variety of reasons (accessibility to product being one), this is what they spend most of their time chasing.
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