I think it is
very undervalued, with respect to Cards. We have not seen the huge and continuous spikes that Cards have realized... nothing like the crazy exponential price increases the Aaron Rookie, Clemente Rookie or '52 Mantle have experienced over past years.
The irony is that so much of the memorabilia is rarer than the vast majority of these "rare" cards. Many are one of a kind pieces, or items that exist in numbers less than the fingers on one hand. I could list infinite examples of this, but will spare you the "novel".
That said, it still floors me that a mass-produced Hank Aaron rookie card can sell for 10 times the amount of one of his Game-used Bats. I cannot rationalize how a relatively common piece of cardboard (seen multiple times in every major Catalog Auction) is worth so much more than an actual piece of lumber he used to accomplish what he did.
I keep thinking it's just a matter of time before collectors catch on to this... but it still hasn't happened.
