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Originally Posted by barrysloate
Thanks David, and I understand that you collect the way that makes you happy. I think the registry has caused prices on high end cards to increase so drastically that there are only a small number of people who can even compete for them. I collect VG-Ex to Ex not because I like to see flaws on cards, but because high grade cards are out of my range.
When I saw the 1932 U.S. Caramel Hornsby sell for $52,000, I was astounded. I understand chasing after a Wagner or a Plank or a 52 Mantle, because those are iconic cards and there are countless collectors who would like to own them. But in my 37 years in the hobby, nearly 30 of them as a full time dealer, I never once had a collector come to me looking for a U.S. Caramel Hornsby. That's an esoteric set, and while Hornsby was a great player, his cards are not as popular as Cobb or Matty or Wajo. That price was almost surely a product of two registry collectors going head to head until one of them blinked.
So yes, as you said the hobby has changed and many of us are scratching our heads and watching prices reach levels that we could never have imagined.
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I just looked at the Pop report and there is one with none higher. I use term the best and someone will say it is not the best but only PSA says it is the best but regardless the new owner can say they own the best example that exists. The price reflects that.
One of the comparisons I have drawn in the past is cards can be viewed as art. In a case like this while $52,800 may seem like a ton of money for a single card there are pieces of art that go into the hundreds of millions. Many pieces that are not exactly ones that most even find appealing looking.
Trading cards are relics of history and so in reality as you are aware all it takes is two people with a lot of dough that want to own something and the sky is the limit.
Quite frankly when I see what some modern cards sell for it is easier for me to understand this price than some of those. I think a huge percentage of card prices are bragging rights. Getting to say you own something very few can. There really is no utility that cards provide and they are simply objects to admire. With there being small differences in cards that grade in this range the one thing you can revert back to is the idea that it is the finest known copy and so to someone that is worth a lot. It is a balancing act for me at times paying high prices just for condition rarity and in reality it comes back to the ability to replace it in that grade and the fact that I want to have the #1 set. Only one person from each set can say they do and this does fuel prices no doubt.
When I used to show people my wrestling cards they would laugh. I would say laugh all you want this is the only PSA 10 so far that exists. Are you serious??? Yeah. OMG that is really cool. This is just how humans are.