Quote:
Originally Posted by barrysloate
I understand herd mentality, and everyone assumes the card they buy will be just as desirable when it comes time to sell. But I still have trouble with how much faith is put on that label.
If you have 1952 Topps Mantle that grades PSA 8, and you are able to convince the grader that it deserves an extra ".5" on the label- not a full grade, but a half grade- that grader has just created a half a million dollars of wealth out of thin area. How did such a market evolve? Something about this simply escapes me.
And Peter S. is correct that the label, and not the card, is the commodity (and I love Wallace Stevens).
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Hi Barry,
It may have been touched on but I think the people who are buying cards that cost in excess of 100K don't even notice a dip in the account balance after paying for that card and they have a belief that PSA is too big to fail.
Greg