Mark, I think this type of increase in card prices is a relatively new trend that has really shown itself in the last 6 years.
I agree with your thoughts on memorabilia. But the question is has memorabilia ever been hotly desired and seen price spikes like today’s cards?
Is it looked at in the same way? Like your example of Aaron, the card is looked at like an “investment” piece that is obviously driving demand.
I can justify having rare memorabilia all day but there is an old saying that bothers me. Scarcity doesn’t necessarily mean higher prices.
I struggled with this every time I owned a 1 of kind piece.
My collector emotion doesn’t give unto this theory....
Quote:
Understanding the Scarcity Principle
In economics, market equilibrium is achieved when supply equals demand. However, the markets are not always in equilibrium due to mismatched levels of supply and demand in the economy. When supply of a good is greater than demand for that good, a surplus ensues, which drives down the price of the good. Disequilibrium also occurs when demand for a commodity is higher than the supply of that commodity, leading to scarcity and, thus, higher prices for that product
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