As to the Conlon Ty Cobb example, it would be more like having a 1911 copy done from the original negative BY Charles Conlon being worth significantly less than the 1909 version of the photo. Same Paper/Same Photographer/Same Studio/Same Image, Two prices.
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So what you are saying is they would both be type 1's with sig diff prices? You are leaving it up to the buyers to completely know the difference AND/OR the auction house noting as such(not a bad thing but not everyone will do the research/be willing and I have seen auction houses less than upfront).
In many ways I am not a fan of 3rd party grading but there are definitely positives associated with it....growth of the hobby in other genres(cards and sigs) are testament to that.
I really do see what your saying but my point is that the Types bring a standard and security(through psa) that will grow photos and take to another level if utilized. Again, just my opinion...100 percent would disagree but I like listening to myself type