Quote:
Originally Posted by barrysloate
If the hobby is going to accept that a great percentage of all high grade cards are altered and not what they appear to be, then these cards should start selling at a deep discount. You can argue that a card altered to look like an 8 is still a beautiful card and worth buying for one's collection, but it would make no sense to pay top dollar for it..
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That's what I've said. Even if altered 'high grade' cards are valued (and restored cards already have value), I find it hard to believe even a billionaire will place the same price difference between a 9 and a 10 knowing it's due to alteration in someone's basement.
At the least I expect a price correction. This will also be due to some, many, collectors leaving the hobby (for such card, at least) or paying less.
Someone argued that some will still value cards the same so things won't change. But that doesn't matter if a percentage don't. Prices across the board are a group thing, not a handful of people who don't care thing. If 20% don't care and 20% do, the 20% who do and no longer pay the $$ will help lower the prices.
I remember Julie Vognar saying years back she didn't deserve getting an auction house's catalog because she bid without winning. The auction house president corrected her, saying she deserved the catalogs because her bids helped realize the winning prices. Remove some bricks from the wall, even lower ones, and the wall is shorter.
Further, the prevailing hobby opinion about valuations will affect prices. Why does some billionaire newbie buy a 1952 Topps Mantle? Because hobbiests tell him it's the card to get. If prevailing opinion is "Fine, buy the card, but only an idiot $100,000 premium for a spooned out wrinkle and removed spot, the billionaire will hear that too." He may buy the card, but he's not going to pay the current $100,000 extra.