Quote:
Originally Posted by calvindog
Ethan, with all respect, and I'm not trying to harsh your buzz, but the card went for under 21K because that's what it's worth.
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That may be what people here are saying. In this hobby, cards often don't sell, or "sell", for what they are worth.
I haven't trusted, or at least take with a large grain of salt, hobby "final prices realized at auction" for a long, long time. Beyond artificially raised prices due to shilling and valuations based on these artificially high or false prices, we all know that VCP and other 'price realized' lists include "sales" where there was no sale. And, with the current scandal, the hobby is realizing that, even if there was a sale, they can't even be sure what was sold-- though they sometimes find out the next week on BO.
Fake cards, or fake grade cards as in the case of the current scandal, can affect the market values of the cards that are known and proven to be real. Fro Joy Ruths are perhaps the best example. We know which Fro Joy Ruths are genuine, but all the past confusion has been "institutionalized" into the book and market prices. When sellers have to give each every potential bidder a history lesson, two-page essay and links to further reading to explain that "this PSA 9 is considered genuine but those others we don't know about and some are probably false and, to be candid, there are serious and widespread questions in the hobby as to whether PSA can even identify if a card is altered or not," the market value for PSA 9s across the board will be affected.