Beginning with a handful of Topps products released in the early 1990's, certain cards have been available which had a step added to the printing process that causes them to reflect light back to the observer and refract it (hence the name) into the various wavelengths of visible light. Think of a prism bending white light into a rainbow of colors.
In my opinion, it is tough to accurately capture the effect with a still photo. Two fairly common things I have seen which come close to replicating it are oil spots on asphalt and dish soap floating on water. Light reflects back to you; however, changes color depending on the angle from which you are viewing it. Diamond rings and crystals will also do similar things...tilt them one way and you eventually see red, tilt them in another direction and you eventually see violet. Along the way, you see all the colors in between. Tilt the “refractors” and you get the same results.
So, anyway...because the refractor cards are different, and produced in relatively smaller quantities; they tend to carry higher values. In a way, the collectors of modern material likely view these variations in a way similar to T206 collectors viewing the various backs available. I am not comparing the cards here...just floating an idea regarding the mindset that goes into paying extra money for the refractors.
Hope the explanation was adequate. Sorry if I wandered into the weeds a bit on the reply.
Best Regards,
Eric
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