Posted By:
JimCrandellBarry,
I sense it is a combination.
1)First, I think these are very competitive people. They are very successful businessmen who probably got where they are in part by being so competitive. Its hard to turn it on and off. I( by no means am I putting myself in the category of collectors who will spend $10K for a T206 PSA 8 common but from time to time I find myself straying from my basic goal of completing sets in PSA 8 and better to getting ahead of a certain collector. The Set Registry will do that to you.
2)These people do love the sport and have a real passion for collecting. They are big baseball fans--I know of one guy who just did a fantasy camp that is one of the leading vintage collectors.
3)As you know, the trend in America has been the creation of a significant group of people who are extremely wealthy. Whether it is from stock options, Wall Street, the tech boom or just being a successful entrepreneur, there is a pretty good size group of people to whom $10,000 is like $10 to you and me. Some people you just cannot outbid on ebay.
4)Lastly, the whole concept of grading cards has validated cards as an investment.10-15 years ago high-end vintage cards were going for a song as collectors had completely lost confidence in whether the cards were altered in some way. While some would argue that altered cards still get through, grading has given wealthy collectors the confidence to step up and put millions into the hobby.
Jim