10K for a Young portrait in a 5

[Aquarian Sports Cards]

Originally Posted by ullmandds

It is also interesting to note that numerous opinions on here come from people who own/are affiliated with AH’s or who derive income from the hobby think this is all normal and natural.

I am one of the former who is not one of the latter.

[ullmandds]

Originally Posted by Aquarian Sports Cards

I am one of the former who is not one of the latter.

Haha...I tell you...it's a conundrum. I DO believe there may be a few wealthy collectors who don't care what they spend on some high quality old cardboard...they just pay whatever it takes to get what they want...it's possible. But on Cy young/Walter Johnson portrait t206's...it just seems a little too convenient for me as a way to rationalize the running up of certain cards just as was done a few years ago with high grade 50's rookie cards by a "group" of people in the hobby.

[AddieJoss]

These T206 HOFs are not “rare” in the sense there are very few that exist. What is happening though is that they are showing up for sale much less frequently. That is driving up prices as many are buying and stashing in Thier collections. So when a card that one wants does show up in the grade desired, folks are paying up instead of waiting a long time for another to appear.
Cory Weiser

[3-2-count]

Another big price last night in Memory Lane for a superior looking mid grade Matty portrait. $6,290.00 after the juice.

This same card sold in April of this year for $3,295.00.

[Throttlesteer]

Originally Posted by 3-2-count

Another big price last night in Memory Lane for a superior looking mid grade Matty portrait. $6,290.00 after the juice.

This same card sold in April of this year for $3,295.00.

It's a nice card, but not THAT amazing for the grade. At some point, things are going to have to settle down a bit. This isnt sustainable

[Peter_Spaeth]

Come on now, everybody panic like it's 2016.

[Touch'EmAll]

Hard to believe the 4.5 grade, looks a solid 5 at least. Chance of a surface imperfection, wrinkle, or other.

[Aquarian Sports Cards]

Originally Posted by Peter_Spaeth

Come on now, everybody panic like it's 2016.

That's the problem, nobody panicked until it was too late in 2016. Glad people are questioning things this time!

[ashes13]

time will tell if these prices are sustainable, but when you put the prices in perspective to what modern autographed rookie cards sell for (thousands of dollars), HOF mid grade t206 cards still look moderately priced. I think there are a number of collectors moving into the t206 market from other areas such as post war and modern and that is helping with demand. While these arent rare, supply is fairly limited in eye appealing grades 5 and above and there is enough money out there to push prices up. I think the prices have been too low for too long on a lot of the marquee HOF from the t206 set.

[Rhotchkiss]

Last night a number of T206's again went for crazy numbers - the Matty Portrait, a few Cobbs, the HR Baker and the Waddell Portrait, etc.

The fact that these cards -- week after week, auction after auction -- keep going for crazy prices, and its not just limited to Cobb, Young, Wajo, Matty, leads me to conclude that these prices are becoming the new normal for good looking T206s. In my opinion, what is happening is too wide/broad for it to be a few people manipulating a few cards. It seems that T206 has caught fire and people are willing to pay whatever it takes to get the cards they want.

I do not understand who/why someone would pay 2-3 times what a relatively-common example previously sold for publicly, but people are doing it. They are spending that money with PWCC, Heritage, REA, and yes, Memory Lane, who I thought had a great auction last night and obtained some pretty crazy prices.

And its not just limited to T206s. I am guilty myself of paying (way) up for non-T206 Cobb, Wagner, Plank and Jackson items, and I recently paid 3x more for a 1916 Zeenut Claxton than what it last sold for in 2012. Note, however, that these tended to be rare(er) cards that do not come up often at all, not the more common T206s that are going for crazy prices.

Seems that the market for the high-end and/or rare versions of blue chip HOF cards is being reset. Seems this is the new normal, not just for T206. Seems card collecting is moving evermore into the realm of investment and away from being a hobby.