Saturation Point

[veloce]

Originally Posted by Peter_Spaeth

I hear you and of course it could happen. But don't you think the Wagner already should have resulted in a major loss of faith? I think what you may be missing are first, ego and wishful thinking outweighing common sense. As a major card doctor was overheard saying, I give these guys what they want (referring to high end cards that otherwise don't really exist). I believe large numbers of people are buying/investing in flips not really caring about the integrity of the card. Second, the ability of PSA to limit pop growth.

I think that the Wagner could have caused a major loss of faith if it had been more publicized outside the hobby and invited more criticism into the hobby. As it stands, I think the Wagner may be contributing to the impression that the market will tolerate any and all fraud. I think collectors are reasonable to believe that the supply of Wagners is limited and that notoriety can offset grading errors when valuing Wagners. I think collectors will eventually realize this isn't true for the endless supply of postwar RCs mentioned by OP.

I understand that this hobby is surprisingly tolerant. You've pointed out shilling and photoshopping by major ebay stores and they still do great business. You have noted fraud at Legendary and collectors kept bidding in their auction long after the fraud was substantiated. I still think it is reasonable to believe there is a tipping point and it should be repeated that the market for postwar cards is fundamentally different from the fine art and waterfront real estate examples mentioned earlier in the thread.