Quote:
Originally Posted by Exhibitman
At what point does 'undersold' become 'market'? Two sales? Three? Five?
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It definitely happens. There are times when a card values drop significantly simply because the most recent buyers failed to understand the nuances that made one copy sell for far less than other copies in the same grade. It's happening right now with Wilt Chamberlain rookies in a PSA 7. They were selling for $20k until one of them that was WAY overgraded sold for ~$13k which had a horrible tilt to it, was way off centered, and had 4 soft corners. It would be a 5 if graded today, but it had an old school serial number of 02xxxxxx from back in the days when PSA overgraded cards. By itself, it might not have done much to the market, as the next one did sell for around $20k again, but the problem is that the next PSA 7 sale was another overgraded old serial starting with 0 PSA slab that again sold for something like $13k. Then the next time a 7 hit the market, buyers got scared because they thought the market had crashed on this card and a really nice copy then goes for $15k or so. Then, another. Now, it's the new baseline (until it isn't again).