My total SWAG theory is that people who have a few examples of rare cards are sitting on them waiting to see where values go, especially on the ones that haven't run up in recent years. I know quite a few people, myself included, who regret selling some issues or players too early and won't make that error again.
Could also be the AH effect: so many houses, so many auctions, all needing consignments. We may perceive it as 'seeing' fewer of these cards than in past years because relatively fewer of them are being FSBO'd on eBay where we search for them.
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