Quote:
Originally Posted by Eric72
I respectfully contend that "usefulness" has absolutely nothing to do with "value." To wit, consider the paradox of value (diamond-water paradox) posited by Adam Smith.
Much like diamonds - or gold, since that topic has entered the conversation - baseball cards are not even remotely as useful as water. However, again much like diamonds, a single baseball card can command a price that exceeds thousands of gallons of water.
Solely within the framework of the American economy, I believe that the concept of diminishing marginal utility can be applied to water...and, within the hobby, collectors tend to chase cardboard "gems" or "gold" with the same mindset that others may consider when purchasing jewelry.
So, at the end of the day, what does all this mean? In my opinion, it means that diamonds, gold, and cardboard have varying levels of "usefulness," which has zero correlation to their "value."
Best Regards,
Eric
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I think already touched on all those issues....can always talk about one exception..i was talking in general...plus this thread was about a 30 dollar offer on a card...not a t206 wagner.....usefulness does correlate to value on at least a basic level...I don't have use for a baseball card in most areas of the world
Currency has been in gold or gold backed for a reason...never seen currency with sports cards..... I think that would explain the better value in gold...but again I guess I wrong considering all the uses with baseball cards in the world sorry