I think the February to April 2021 period was a peak speculative run in many parts of the market. Prices corrected in the next few months and to me appear to be steady to strong still since then. One reason is that many interesting cards in PSA 8-10s (thinking 80’s hockey and basketball) never gave people reason to grade them and they weren’t readily available before the price runup, so they hit a frenzy but then supply eventually (and PSA backup loosening) caught up and prices took a decent hit.
Of course the more rare and vintage, the less available and its hard to see too much evidence of the correction. Lower grade Ruths are still strong, but some of the prices in that period were a bit high perhaps. Something like a Gehrig is 3(mk) might have been a fever pitch auction, but excepting that, the Gehrig card remains strong. It probably has more volatility than others because it was so neglected for so long and has had a huge run.
That said, it’s hard to see that the general harsh repricing of equities and bonds and many assets will not spillover to take some of the fluff out of cards here. Thus far it still seems generally strong.
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