Posted By:
Marc S.I do not think we will ever see an auction again with three Magie errors in it...
The Magie error is rare -- in any condition. Yes, it has been omnipresent in auctions in the last few years -- but the prices (demand) is holding pretty steady, and I imagine that we will not continue to see such a large volume of this card. I think it is generally agreed that it is the "easiest" of the Big 4 cards from the T-206 set.
Your scarcity/rarity argument makes sense in certain contexts. #1 and Last cards in sets, for example, are rare only in top condition. The 1933 Goudey Bengough and 1952 Topps Pafko are both very easy to find -- but exceptionally rare to find in better than EX/MT condition.
Magie is exceptionally tough to find in top grade -- but pretty rare in general. There are less than 40 examples of this card graded by major grading companies. For a $1,000+ card in even PSA 1, that is rare. Compare to either Magee's regular cards or to a T-206 Ty Cobb.