Who are the most "over-valued" players

[rats60]

Originally Posted by raulus

I don’t think anyone is actually criticizing Mantle as a player. At least I don’t think so.

I think the whole premise of the thread is whether the premium for his cards, particularly the 52 Topps, is warranted based solely on his play, while ignoring all other elements.

And clearly there is a serious premium that exists due to circumstances that are unconnected to his on-field performance.

So it’s really not intended to be a knock on the player. Or even an attempt to suggest that his cards should be worth less. But rather that the prices for his cards are based on other factors that go well beyond his performance on the field.

As a Mays guy, the big premium that Mantle has always received relative to Mays always irked me. With the recent big jumps in prices for Mays stuff, some of that premium has shrunk. But now that it has shrunk, it pisses me off even more, because I have to pay so much more now. So if I could have it my way, I’d much rather prefer to go back to Mantle having his massive premium, and the market undervaluing my man, so that I can buy more great stuff.

Not always. In the early days of the hobby, they were equal. Even in the 80s, there was a small, ~10%, premium for Mantle. In some years, for example 1953 Topps, Mays was more. The premium started in the mid-eighties when New York dealers bought up Mantle cards and drove the prices up. Until the recent spike in Mays cards with the death of Aaron, the gap just kept expanding for ~35 years.

If stories are to be believed, a lot of the value of the 1952 Topps Mantle was due to Woody Gelman hoarding them. So, saying Mickey Mantle is "over-valued" really doesn't have anything to do with his ability, but due to dealers driving prices up to escalated levels.

[Peter_Spaeth]

Originally Posted by rats60

Not always. In the early days of the hobby, they were equal. Even in the 80s, there was a small, ~10%, premium for Mantle. In some years, for example 1953 Topps, Mays was more. The premium started in the mid-eighties when New York dealers bought up Mantle cards and drove the prices up. Until the recent spike in Mays cards with the death of Aaron, the gap just kept expanding for ~35 years.

If stories are to be believed, a lot of the value of the 1952 Topps Mantle was due to Woody Gelman hoarding them. So, saying Mickey Mantle is "over-valued" really doesn't have anything to do with his ability, but due to dealers driving prices up to escalated levels.

Why in your view did the gap keep expanding? There are too many Mantle cards, I would think, for anyone to buy up enough cards to meaningfully influence prices long term.

[rats60]

Originally Posted by Peter_Spaeth

Why in your view did the gap keep expanding? There are too many Mantle cards, I would think, for anyone to buy up enough cards to meaningfully influence prices long term.

Fear of missing out. New collectors look at the price guide and they see Mantle priced higher than others, so they want his cards. When prices are low, it is easy to buy something up, then demand takes over.

[Peter_Spaeth]

Originally Posted by rats60

Fear of missing out. New collectors look at the price guide and they see Mantle priced higher than others, so they want his cards. When prices are low, it is easy to buy something up, then demand takes over.

Interesting theory. For most goods and services I would think supply and demand dictate price, not that the price itself influences demand, but with baseball cards, who knows.

[Balticfox]

Originally Posted by Peter_Spaeth

For most goods and services I would think supply and demand dictate price, not that the price itself influences demand, but with baseball cards, who knows.

Yes, that's what you'd expect for goods and services alright. It's textbook economics.

But there's an investor/speculator crowd which believes that "the trend is your friend" and accordingly extrapolates past price changes on into the future. So increases in price can actually spur demand which is how price bubbles are created. Price bubbles like any other do of course eventually burst.