Quote:
Originally Posted by RCMcKenzie
Two people wanted a Lute Boon. After the first auction, one guy got one. The underbidder of the first one won the second auction. It's why the market value of an obscure baseball card is the bid of the 2nd underbidder.
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Al Crisafulli said something that made a lot of sense to me, I'm paraphrasing "it only takes 2 or 3 collectors going after the same set/card at the same time to move a market". It's fascinating to see the money move from market to market quickly and subtly at the same time based on collectors whims. I analogize it to the real estate market since that's my business and I've been through a couple of cycles.