The two arguments for the high prices are 1 - they were undervalued to begin with or 2- it is a bubble.
I've always thought it was just 2. After a little more time I'm starting to believe it is a mixture of both reasons.
Another reason could be that some collectors may be scared of buying other sets with the 2007 + 2008 price drop in the back of their heads.. t206's are fairly liquid and a safer investment than say a more obscure caramel/bread set. All the money is just being poured into this set where any slightly scarce card is going for crazy prices.
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