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Posted By: Corey R. Shanus

As regard transactions costs, while I do not necessarily disagree that funds could for considerally less than the BP arrange to have private placements to well-heeled collectors, that in and of itself will not suffice. Funds will need to have full access to the entire collectibles marketplace, which vastly exceeds any private collector base. The way to access this market is via the auction route. My guess is that should the day come that a fund has a signficant place in the baseball collectibles market, it will overcome the hurdle of high transactions costs by having a significant ownership interest in a major baseball auction house.