I don't think you can really look at the Jordan RC PSA 10s of the world to determine the direction of the overall market. For the majority who play in the mere mortal world of cards costing anywhere from $5 to $5000 (and I do understand many people on net54 go above this threshold) I would say prices are certainly down from the peak, which to me was the insane PWCC auction that closed on Valentine's day.
Without hard data, but nonetheless being a math guy and and analyst who focuses on certain mid grade cards, I think the vintage baseball market had a long run-up from late '19 up until early '21 and then when Hank Aaron passed away on January 22nd (RIP great man) the market went into complete insane overdrive for 3-4 weeks and you saw prices in some cases double. For the other sports, particularly basketball, this explosion happened earlier.
Anyway, since February 14th things began to decline subtly at first and I think that decline has accelerated some lately as many predicted would happen when the vaccines started to work and people began planning to spend money on other stuff this summer. That all said, the market is still above mid January 2021 levels by my count. There are fewer deals happening as people who overspent hold out and you can see more buyers getting shy on the trigger. So if you ask me there's probably some additional decline coming, but the real test won't happen until winter when it gets freezing again in the north and people have less to do.
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