Anecdotal...nonetheless...
We saw a huge bump in everything, especially modern and ultra-modern, from the investor class more associated with sneaker collectors and adjacent non-traditional investors (digital coins, etc).
A lot of those those people are holding or exiting, or have already exited.
We also saw a lot of people returning to the hobby of their childhood during the COVID shutdown times. Junk wax suddenly became relatively valuable (especially well graded stuff) as they recreated what they once had or never could get when they were younger.
A lot of these guys are sticking around and gravitating toward vintage and pre-war. They realized they could finally get a T206 and caught the bug. Some started learning about other releases outside of the T206s. Many are still learning. They want a Cracker Jack card. They want a T205. They're trying to figure out caramel, bakery, etc cards (which require a bit more of a deep dive).
I don't know how long they'll stick around, but guys I saw chasing 1989 "F-Face" Billy Ripken cards and Griffey Jr rookies are totally getting into that pre-1980s stuff.
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