[Snowman]

Collectors are definitely migrating over to vintage from modern. Almost all of us started in modern at one point in time or another. For me, it started as a kid when I would ride my bike to the local card shop to buy 80s junk wax packs. I would always gawk at the Mantle, Mays, and Hank Aaron cards behind the glass, vowing to one day own some of them. I saved up my money from mowing lawns and picked up a 1960 Topps All-Star Hank Aaron and a 1962 Topps Mickey Mantle as my foray into vintage.

Nowadays, kids like the shiny stuff just like many of us liked opening packs as kids too. But they're all tuning in to social media and listening to influencers these days, and all of those channels are singing the praises of the vintage market. As they watch their NFT digital "cards" and fake jersey patch sticker autos of Gavin Lux (numbered to /99 !!!) plummet in value, they hear about the Wagner, Mantles, Ruths, Cobbs, and Jackies all setting new records on a monthly basis. It piques their interest. I've seen quite a few modern collectors migrating over into vintage, dipping their toes. They're coming. Certainly not all of them, but even if it's just 1 or 2% of them, that's enough to continue to cause upward pressure on pricing.

I don't see high-end vintage prices dropping any time soon.