Friends giving up collecting in 2023 - Post continuation

[Exhibitman]

Originally Posted by Republicaninmass

A really Nice 1954 aaron psa 8 sold in a major auction for 27k last week. Recent sales are between 40 and 75k. Less than a decade ago, it was a 7k card. Aside from his passing, what constitutes the price increase? Plenty of MOMO and FOMO investors that are going to be hurt if they need to sell. Even at 27k people are thinking twice as the only upside is if someone someday pays 50k for it!

The Aaron RC is an interesting story. It stagnated for well over a decade (from the time I bought one in 1998 until just after I sold it 15 years later), then took off in the mid-teens pump and dump market manipulation and again in the pandemic. I would argue that it was undervalued substantially for years (when I owned one), then it caught up overnight, got overvalued in the pandemic run, and is on the way down towards equilibrium now. I still throw up in my mouth just a little when I see what they go for.