I collect pretty pedestrian stuff (low grade t206s...collector grade other stuff) and haven't really seen a huge drop. A low grade t card is still around $10-$20 just like it has been forever. I have been surprised at some to the 30's weaknesses, esp the Diamond Stars which are a classically beautiful set. I actually think the 3s and 4s will have more softness than the 1s and 2s and the 7s +. I have not seen many bargain prices on the top shelf players from most any era...Mantle, Ruth, DiMaggio, Cobb, Gehrig...when it comes to retailing.
I saw a Lipset quote from years ago that I think explains a lot...he was talking about the pre-1900 stuff...he said that the market was strong but thin...meaning that there was big money being thrown at it but only by a few people are playing. I think the combination of the economy and people already obtaining what they were looking for (I no longer need a 1967 Brooks Robinson because I have bought a 1967 Brooks Robinson therefore while I once was a potential buyer, I am no longer one) is the reason for the problems in the market...especially in auctions.
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