That T206 Life: "Does the Huge Price Tag for the T206 Magie Error Make Sense?"

[HobokenJon]

Excellent analysis by Luke Lyon, flagging the huge valuation gap between the Piedmont 150 Magie portrait error card (pop 180) and Magee portrait rare backs. For example, the pop reports show 11 EPDG Magee portraits and just 4 Old Mill Magee portraits.

Does the Huge Price Tag for the T206 Magie Error Make Sense?
http://www.thatt206life.com/2017/04/...or-make-sense/

Excerpt:"The Old Mill above is so rare that it’s almost non-existent, and yet it sold for just 13% of the $15,340 that the PSA 3 Magie pictured at the top of this article went for. We know that there is more to value than the supply side of the equation, but I can’t help but come to the conclusion that the Magie Error is over-valued. As long as collectors continue to covet the Magie Error to the extent they have historically, prices will remain high. With more information available to us via the Pop Reports, it’s possible that prices will adjust over time to be more in line with actual scarcity (or the lack thereof)."

[bn2cardz]

Backs only matter to back subset collectors and master set collectors.

The fronts are wanted by everyone that collects the full set. This is where the Demand in "supply and demand" come in. There are very few Magge player runs, master sets, and old mill collectors in comparison to the number of people trying to complete a full "front" set. This also explains the price of they Doyle error in comparison to a rare front/back combo.

[drcy]

Not ever variation is equal. A misspelling of the player's name on the front of the card is a big error.

As collectors, we all think certain items get too much attention and too little demand. I cataloged a big photo auction and, following the sales (but not participating), I was surprised that some photos went for so much while my personal favorite went for the minimum bid.

Though it is worth pointing out great rarities, as Luke has done. Some items are so rare it hurts their value, because they are so rare few collectors are rare of them. I know a collector who had the only tintype on cloth I had ever seen (I knew they existed, but had never in my years seen one). He had trouble selling it for a decent price, because no one had ever heard of one. I suggested he donate it to a museum.

[T206Collector]

A couple of other things to remember about relying on population reports of grading companies --

1. People will have every single "Magie" in existence graded, often more than once, which causes a perception of abundance.

2. Not everyone will have a Magee portrait EPDG graded, regardless of condition.

[steve B]

Originally Posted by T206Collector

A couple of other things to remember about relying on population reports of grading companies --

1. People will have every single "Magie" in existence graded, often more than once, which causes a perception of abundance.

2. Not everyone will have a Magee portrait EPDG graded, regardless of condition.

That's a big part of it.

There was a stretch where I was looking at pop reports (And yes, they're flawed so can only give a general idea of what's common and uncommon)
What I saw in T206s was that the HOF players were generally twice as common as a similar common. The only reason that makes much sense is that people grade them more often.

There are some really tough cards, even in some of the common backs.

Steve B

[JustinD]

My personal opinion:

I refuse to put credence in pop reports ever and the 52 Mantle in my mind will always crush the scarcity equals value argument as there are no less than 25 for sale any day of the week.

Value is in demand and collectors minds.