10K for a Young portrait in a 5

[Peter_Spaeth]

OK.
https://www.ebay.com/itm/1909-11-T20...p2047675.l2557

[SetBuilder]

Originally Posted by Peter_Spaeth

OK.
https://www.ebay.com/itm/1909-11-T20...p2047675.l2557

No way that's a 5. Seriously under graded.

Buy the card, not the holder.

[trdcrdkid]

Hey, it’s Certified Premium Quality! You can’t beat that!

[Throttlesteer]

Its PWCC. People throw their wallets at their auctions, even without the stickers. This one is definitely surprising though.

[MichelaiTorres83]

It looks like a 6 easily.

[swarmee]

Bottom right corner looks rounded like a Beta Magic card to me. But rest of card looks really nice. Maybe a 5.5, but not a 6.

Edit: Beta reference is for Bobby.

[Aquarian Sports Cards]

look at the bid history. doubt it gets paid for, but it will look nice on VCP

[Rhotchkiss]

The Matty and Wajo portraits also went for crazy prices.

[ullmandds]

All these ridiculous run ups on prices of some very common cards are starting to feel like the run up of the stock market in recent times...and we're all seeing how thats turning out?

[Republicaninmass]

I have to laugh. All these guys with under 100 feedback are jumping feet first into the mid grade t206 market!

[darwinbulldog]

High bidder: "Woops. Thought that was Cobb. Isn't that what Cobb looked like?"

[Touch'EmAll]

I suppose you can call them common. But the top tier HOF'ers in EX5 and higher are seeing the market less often these days. 5-10 years ago eBay seemed to semi regularly have them available, through several basic Joe sellers like us. Honestly, they are now surfacing with not as much regularity. I bet the quantity of people in the demand department is also up significantly compared to 5-10 years ago. This grouping of major T206 HOF'ers was strong on condition for the grade - more so than other pwcc similar groups. I drooled, then checked my budget, then sat back and sighed - out of my price range anymore. Glad I picked up these puppies years ago and stashed them. I showed my wife some prices last night - she wants to sell a couple for new carpet, hmm, don't know about that.

[ullmandds]

I suppose only the future knows if these prices are for real or not...its certainly easy to justify them...or NOT!

[Republicaninmass]

Originally Posted by ullmandds

I suppose only the future knows if these prices are for real or not...its certainly easy to justify them...or NOT!

Well when they come down to half....it might LOOK like a steal!

[ullmandds]

Originally Posted by Republicaninmass

Well when they come down to half....it might LOOK like a steal!

I think thats the "strategy" at work here to be honest with you!!

[The Nasty Nati]

There are 81 PSA 5s, 34 PSA 6s, 19 PSA 7s, 14 PSA 8s, and 1 PSA 9—For a total of 149 Cy Young Portraits graded 5 or higher. I can’t get the SGC pop report to work right now, but let’s say its roughy the same, and we throw in some raw examples that haven't been graded for good measure, that brings the total pop of Cy Young Portraits graded EX or better to nearly 300.

It’s a great card and one of my favorite portraits in the set, but when there are nearly 300 others out there with identical if not better appearance, I just don’t see how you can justify paying $10k…but what do I know.

[Touch'EmAll]

In supply & demand theory, the quantity supplied refers to the amount of a certain good that people are willing to supply when receiving a certain price. Yes, there may be quite a few (relatively) out there - but that does not mean they are out there willing to be supplied - aka "available". These cards are tucked away and stashed in collections and can be considered not even available. I have several, but I am not going to sell them, or even try to sell them. So basically, may cards are not in the supply quantity, I am not willing to supply them to the market. Probably same goes for a lot of collectors holding nice T206's - happy to just keep them and won't be seeing the market anytime soon. Therefore, the true market supply is lower than we may think.

[Aquarian Sports Cards]

Well I would argue somewhat that not many 5's are going to look as nice as that one, but I don't disagree with your larger point.

[griffon512]

Originally Posted by The Nasty Nati

There are 81 PSA 5s, 34 PSA 6s, 19 PSA 7s, 14 PSA 8s, and 1 PSA 9—For a total of 149 Cy Young Portraits graded 5 or higher. I can’t get the SGC pop report to work right now, but let’s say its roughy the same, and we throw in some raw examples that haven't been graded for good measure, that brings the total pop of Cy Young Portraits graded EX or better to nearly 300.

It’s a great card and one of my favorite portraits in the set, but when there are nearly 300 others out there with identical if not better appearance, I just don’t see how you can justify paying $10k…but what do I know.

Thanks for posting this data. I have a very difficult time justifying the price as well, but I think it highlights how important eye appeal is in getting premium pricing. I very much doubt there is anywhere near 300 cards in this pop with the level of eye appeal as that card. I would guess that less than 20% of same or higher graded Cy Young portraits have similar centering and registration as the one sold. Centering and central image quality are more important than corners to many collectors. In addition, I think a lot of intelligent and/or skeptical collectors are focusing on mid-grade cards because it's less likely they were "worked on" than cards graded 8-10.

[mechanicalman]

Originally Posted by 100backstroke

I suppose you can call them common. But the top tier HOF'ers in EX5 and higher are seeing the market less often these days. 5-10 years ago eBay seemed to semi regularly have them available, through several basic Joe sellers like us. Honestly, they are now surfacing with not as much regularity. I bet the quantity of people in the demand department is also up significantly compared to 5-10 years ago. This grouping of major T206 HOF'ers was strong on condition for the grade - more so than other pwcc similar groups. I drooled, then checked my budget, then sat back and sighed - out of my price range anymore. Glad I picked up these puppies years ago and stashed them. I showed my wife some prices last night - she wants to sell a couple for new carpet, hmm, don't know about that.

I think this is the best post in the thread. The fact is a well-centered Cy Young Portrait in a 5 is not common card at all. People seem to pay all sorts of premiums for a common T206 with a rare back because we can seemingly quantify the rarity via pop reports. If only we could quantify the rarity of very strong eye appeal cards, my anecdotal belief is that the premiums paid would not seem that outrageous. I'm sad to admit I check eBay and auctions on a daily basis for cards like Cy Portraits, and cards like that just don't appear that often in my observation. I can understand someone going strong if they're sick of waiting. I didn't buy it, by the way.

[MichelaiTorres83]

Originally Posted by swarmee

Bottom right corner looks rounded like a Beta Magic card to me. But rest of card looks really nice. Maybe a 5.5, but not a 6.

Edit: Beta reference is for Bobby.

I have seen worse 6s that are worse than this 5. Clearly someone thinks it a 6 or better. It has great presentation. I would pay 6 price for it. I believe there was a 6 that last sold for 8000. I don’t think this price is outragous based on that sale.

[swarmee]

It would not receive a 6 from PSA today. They are grading tougher than they were 20 years ago. If someone bought it expecting a bump, I think they'll spend a lot of money to get the card a 5.5, but no higher.

[The Nasty Nati]

This PSA 5 Cy Young sold in Sept for $5k. And this SGC 5 sold on Nov 7 for $3.6k. The one that sold for $10k is nice, but not more than twice as nice, nice.

And yeah I agree that certain well-centered cards with nice registration are hard to come by, but certain cards are easier to find in these conditions than others. If you look at Worthpoint you'll find a lot of nice looking Cy Young Portrait examples.

The other top tier HOFers like Walter Johnson Portrait and Cobb Red Portrait (even though it's a superprint) I think are much tougher to find in great eye appeal condition.

And no I don't own any of these. And yes I'm jealous of those that do.

[bounce]

Oh how quickly we've forgotten 2016. I understand it's not quite apples to apples, but the bigger point still applies. The Koufax example could be replaced by dozens if not hundreds of others.

1955 Topps Sandy Koufax PSA 7
- Prior to 2016, sells consistently under $2000
- Steadily climbs in price to May 2016 - when at least 4 cards sell over $6000, with a peak reported price of $6800
- July-Sept 2016 seems to settle back down in the $4000-4500 range (give or take 10%), with a couple exceptions as high as over $8000
- Steadily declines from there to $2500-ish first half of 2017
- Declines further during 2nd half of 2017 with several below $2000
- Bounced around between $2000-3000 all of 2018

1969 Topps Lew Alcindor PSA 8
- Prior to 2016, sub $2000 card
- Explodes in first half of 2016 to over $10000
- Collapsed back to $5000-ish last half of 2016, with one $14000 PWCC HE outlier
- Declined back to $4000-5000 mostly, with a handful of exceptions in the $8000 range that have literally impeccable centering and probably are bump candidates. A PSA 9 on this card is really tough and really rare.


This thread was about the Young, but there were numerous others from last night that were awfully big changes.

Red Chance 6 that I think had been crossed from SGC to PSA, took it from $1100 previously to $1850

Cobb bat off P5.5 $10200 - REA sold a nice 6! last year for $7800.

SGC 50 Red Cobb with registration that makes it appear he's looking up to the sky - $4100 - REALLY?!?!

Wajo P5 $7700 - that's DOUBLE several previous sales of $3000-3500 that are nice looking cards

Mathewson P5 $6200 - also nearly DOUBLE several previous sales of $3000-3600 for equally nice looking cards

Ruth 33 Goudey Yellow SGC 5 $15600 - marked high end despite L/R off center and mild tilt - similar cards sold earlier this year in the $10-11k range

38 Goudey Dimaggio 4 $4350 - similar cards were $3500 previously

I have owned 5s or better of all the Cobb, Johnson, Mathewson and Young portraits at one point or other in the past. It is just my opinion, but I don't consider any of those particularly RARE cards. These were very nice looking, but I've seen plenty of others that were also nice looking previously that weren't effectively double the previous selling prices. Yes, many of these sit in collections and somewhat off-limits, but that's not a forever phenomenon on these cards. That's much more applicable with the 7s and 8s - not the really pretty 5s.

I'm sure there are plenty of other examples, those above are just the ones that caught my eye because I was BLOWN OUT bidding on them. Undoubtedly there will be many more coming tonight with the mid-50s RCs.

One that interestingly went the other way was the Magie error. Seems like maybe someone got a heck of a deal on that if that's a card you're into.

Overall I do think these prices have shown the strength in the big name guys and their popular cards. However, what concerns me a bit more is what is really at the core of these prices and is it really a step change in price, or just some new entrants that got far too excited?

I think it's probably prudent to be cautious of drawing too many conclusions from this single auction.

[Peter_Spaeth]

Are we seeing the next generation of so called market pushers? People seemed to fall for it in 2016, so maybe if that's what's happening, they will again. I can still hear people mocking me saying those prices back then that DR references were just competition for nice cards.

[Aquarian Sports Cards]

Pretty much what I was saying in my post Peter. If it walks like a fish, talks like a fish and stinks like a fish...

[Throttlesteer]

Honestly, the same discussion comes up almost every month with PWCC auctions. They do have nice stuff and it does seem quality material comes up less frequently. I was priced out of almost everything last night but felt good not falling for the mayhem. I did get a nicely-centered PSA 5 Eddie Collins M116 for a good deal. But, there just isn't the craziness for M116s..........yet.

[Chuck]

I'm a relative newbie to T206 collecting, but just how accurate are these pop reports from PSA and SGC? I hear you all talk all the time about resubmitting cards for grading, hoping to get a higher grade from the other company. Then the new owner may do the same - then a new owner may do it yet again. How many times has the same card gone through the grading process with these same companies, to be added, yet again, as another entry to the pop report? I'm guessing the numbers are significantly inflated.

And I agree - what percentage of these cards have the degree of centering and registration - that eye-popping presentation to them - that that EX Young portrait has - among those graded in that range? Not that many. I'm a budget collector - usually purchasing cards in the PSA 2-4 range (as my budget allows), but I see 6-8 range cards all the time that I would have no interest adding to my collection, due to odd centering or registration characteristics. I'm not a cardboard collector, so some minor creasing and corner wear (which on a T206 can actually add to the appearance in my opinion) on a card pale in significance to me versus centering, clarity, and overall presentation. Give me a well centered, well registered "3" over an "8 OC" any day!

[Rhotchkiss]

Simply put, the prices that the t206 portraits brought last night are not normal.

[DeanH3]

10K is steep, but I feel like I've been saying that about prices for years. They keep rising. I'm sure we will see a pull back at some point, but examples that are centered with bold color and registration will still command a premium. It took me a long time to find a Young and Red Cobby that had all three qualities.

[Rhotchkiss]

Show off!!

[Peter_Spaeth]

I know it's hard to draw conclusions from bid histories, but there were 5 bidders north of 4K. 4 had 100 percent bidding with PWCC and the 5th had 97 percent. All had under 100 feedbacks.

[DeanH3]

Originally Posted by Rhotchkiss

Show off!!

[bounce]

Originally Posted by Peter_Spaeth

I know it's hard to draw conclusions from bid histories, but there were 5 bidders north of 4K. 4 had 100 percent bidding with PWCC and the 5th had 97 percent. All had under 100 feedbacks.

I noticed similar, particularly what I would consider the low feedback.

Not entirely sure what it means, but for now I think I'm leaning toward it being buyers who just got overly excited overly the quality of those cards and got caught up in a bidding war.

When prices are rising and the quality is there, it's easy to justify overpaying.

Prices only go up...until they don't.

[Throttlesteer]

The one positive thing from all of this is a big supply of slightly off-center, less-than-perfect registered specimens that can be had for a bargain

[Leon]

When I see the cards I want for my collection, next time, then the grades won't matter. I will pay multiples of regular value for the right ones. I suspect many other collectors might do the same thing. Not too, too long ago I remember bidding around 5k on a PSA 1 T205 Cobb.....which is about 4-5x the value of a regular one. It was a great card and I should have gone higher. So 10k for a really great looking 3k-4k card doesn't surprise me that much.

[Peter_Spaeth]

Originally Posted by Leon

When I see the cards I want for my collection, next time, then the grades won't matter. I will pay multiples of regular value for the right ones. I suspect many other collectors might do the same thing. Not too, too long ago I remember bidding around 5k on a PSA 1 T205 Cobb.....which is about 4-5x the value of a regular one. It was a great card and I should have gone higher. So 10k for a really great looking 3k-4k card doesn't surprise me that much.

Perhaps, but it's never happened before, apparently. Many of these prices smashed all records. These surely aren't the first examples of very nice for the grade T206s.

[Leon]

Originally Posted by Peter_Spaeth

Perhaps, but it's never happened before, apparently. Many of these prices smashed all records. These surely aren't the first examples of very nice for the grade T206s.

More collectors are coming to their senses and collecting cards and not flips?

[Peter_Spaeth]

Originally Posted by Leon

More collectors are coming to their senses and collecting cards and not flips?

That explanation was given in 2016 too, FWIW.

[Leon]

Originally Posted by Peter_Spaeth

That explanation was given in 2016 too, FWIW.

It was important then and more important now . And I think we have been saying buy the card and not the holder since the Gretzky Wagner was graded.

[bounce]

Originally Posted by Peter_Spaeth

That explanation was given in 2016 too, FWIW.

Originally Posted by Leon

More collectors are coming to their senses and collecting cards and not flips?

Originally Posted by Leon

It was important then and more important now . And I think we have been saying buy the card and not the holder since the Gretzky Wagner was graded.

And this is why it's been called "collecting" and not "investing", up until last few years anyway?

I can't imagine EVER referring to my collection as a "portfolio". Good grief.

Seems to me the "justification machine" is on full tilt right now.

What's next - extensive restoration?!?!

[ullmandds]

Originally Posted by bounce

And this is why it's been called "collecting" and not "investing", up until last few years anyway?

I can't imagine EVER referring to my collection as a "portfolio". Good grief.

Seems to me the "justification machine" is on full tilt right now.

What's next - extensive restoration?!?!

yep!

[Peter_Spaeth]

Originally Posted by Leon

It was important then and more important now . And I think we have been saying buy the card and not the holder since the Gretzky Wagner was graded.

Yes, but pay a sensible price for it, not an off the charts world record.

[barrysloate]

T206 Young portrait is a high demand card, this example was particularly nice, the price was way over the top, and the T206 market continues to be overheated.

A confluence of all those factors at the same time.

[steve B]

Maybe it's just me, but I just can't get past those corners to a 5. Maybe 4.5, a 4 but 5, nope.

[steve B]

Originally Posted by bounce

And this is why it's been called "collecting" and not "investing", up until last few years anyway?

I can't imagine EVER referring to my collection as a "portfolio". Good grief.

Seems to me the "justification machine" is on full tilt right now.

What's next - extensive restoration?!?!

By "last few" do you mean since the 1980's? Because I've heard cards referred to as investments since at least then.

[Throttlesteer]

Originally Posted by steve B

Maybe it's just me, but I just can't get past those corners to a 5. Maybe 4.5, a 4 but 5, nope.

Wow, you're a tough grader. I would put those corners at a solid 5. The lower right is the only one that has me thinking. I've seen a lot worse and few better for the grade (assuming no other significant detractors).

[Yoda]

Originally Posted by 100backstroke

I suppose you can call them common. But the top tier HOF'ers in EX5 and higher are seeing the market less often these days. 5-10 years ago eBay seemed to semi regularly have them available, through several basic Joe sellers like us. Honestly, they are now surfacing with not as much regularity. I bet the quantity of people in the demand department is also up significantly compared to 5-10 years ago. This grouping of major T206 HOF'ers was strong on condition for the grade - more so than other pwcc similar groups. I drooled, then checked my budget, then sat back and sighed - out of my price range anymore. Glad I picked up these puppies years ago and stashed them. I showed my wife some prices last night - she wants to sell a couple for new carpet, hmm, don't know about that.

My God, a new carpet. Next she will wanting new shoes for the kids.

[bounce]

Originally Posted by steve B

By "last few" do you mean since the 1980's? Because I've heard cards referred to as investments since at least then.

And the same thing was at one point or another said about:
Beanie Babies
Hot Wheels / Matchbox cars
Precious Moments figurines
Antique miniature trains
Cabbage Patch kids
All those limited edition plates
Tons of Franklin Mint stuff

Just because someone says it doesn't make it so.

It's impossible to deny that in the past 3-4 years specifically, the talk of "alternative asset class" and "investment portfolio of cards" has reached a whole new crescendo.

[Touch'EmAll]

Ha, good one! She actually has the kids dialed in with shoes. Just stretched a little thin right now with repairs to a couple of houses.