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Fred CDo most "large" private transactions involving vintage cards include some of the tougher material to obtain? I like the idea of tracking auction items because you have a better chance of seeing an actual realized price generated by true demand. Sure, there will be times when you just happen to have a couple of people kicking each other over a card and then the price settles after each of those people gets that card but at least it reflects a "demand" of more than just one collector.
I'd probably record the private sales in a data base but I wouldn't use that particular "sale" in the weighted average of a price index.