Quote:
Originally Posted by John1941
If I buy a 1990 Fleer Jose Uribe for $30,000 that doesn't mean it's worth $30,000, and if I buy a 1952 Mantle for 50 cents that doesn't mean it's worth 50 cents. The value of a specific collectible is its market price - the equilibrium price at which buyers are willing to buy it and sellers are willing to sell it in general.
That's a basic explanation which obviously doesn't work well for rare cards - but for cards like a 1952 Mantle, the market is what determines the price of a card - the general trend of sales, not a single sale.
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If you buy a 1990 Jose Uribe for $30,000, then the value of that specific card (the one in your hands) to you is $30,000 because that’s what you paid for it in cash. That doesn’t mean that every 1990 Uribe is worth $30,000…just the one you chose to drop 30K on.