I think it's a bubble, and it's in modern cards moreso than vintage. If the 3 year old Mahomes card is worth 200K, then that Cobb is worth 3K. This is irrational exuberance if I've ever seen it. I read on cnbc today Robinhood-type retail investors are trying to short squeeze hedge funds:
Link. I think some folks are just throwing crazy money at different investment vehicles right now. Is this really the new normal, I don't know.