Comparing a cards scarcity/rarity to a T206 Wagner

[EddieP]

Originally Posted by BobC

Rarity has to do with the how many there actually is of an item. Scarcity has to do with how many of an item there is versus how many people want one (ie: demand). .

A memory technique to remember Rare vs Scarce.

Scarce = Demand / Supply and is directly proportional to $.
“ Rare” is a low pop report. Something Scarce doesn’t necessarily have to be rare and vice versa.

I’m sure there must be an economist on this Board that has a formula that takes into the account of Demand because they study scarcity all the time.