10K for a Young portrait in a 5

[ullmandds]

It is also interesting to note that numerous opinions on here come from people who own/are affiliated with AH’s or who derive income from the hobby think this is all normal and natural.

Originally Posted by Rhotchkiss

Michael, let me give you some context....

The other night, four (4) very nice looking, mid-grade, common-back, T206 HOF portraits sold for relatively massive amounts. Listed below is the card, its grade, what it sold for, and -- according to VCP -- what the highest that card in that grade has every sold for, at auction (I dont trust all "BIN"s), prior to the other night's auction:

Frank Chance Red, PSA 6, sold for: $1,851- Prior Highest PSA 6 Sale: $1,365 (Memory Lane, 5/6/17)** (a 35.6% increase)
Christy Mathewson, PSA 5, sold for: $6,200- Prior Highest PSA 5 Sale: $3,600 (REA, 5/6/18) (a 72.2% increase)
Walter Johnson, PSA 5, sold for: $7,713- Prior Highest PSA 5 Sale: $3,608 (PWCC, 6/8/16) (a 113% increase)
Cy Young, PSA 5, sold for: $10,010- Prior Highest PSA 5 Sale: $4,000 (PWCC 9/8/15) (a 150% increase)

** Note that the same exact Chance card, in an SGC 6 flip, was sold at a PWCC auction 11/12/17 for $1,007 (an 83.8% increase in 1 year and a cross from SGC to PSA)

I dont know why these four cards, and specifically the Wajo and Young, both of which sold for double their prior record high, went for so much. But these results are not normal. These are not uncommon cards, even with great eye appeal. Perhaps Mr. Deep Pockets did show up to this auction and didn't mind spending $10k for a previously $3500 card. But remember it took at least two bidders to get these cards to where they sold. Also, you would expect that someone (Mr. Deep Pockets), who was in a position to (over)spend $10k on a card, would be wise enough to know that $10k was a wee-bit steep compared to all prior sales going back to 2008 (and even if they don't have VCP, they can go on ebay, or PSA, or google it -- the info is out there).

Look, maybe there are plausible, innocent, or market-based explanations for this. Indeed, I sure hope so. Or maybe there was foul play. All i can tell you is keep your eyes wide open because it is VERY noteworthy when relatively common cards sell for 100%+ all prior sales.

[Throttlesteer]

It's possible someone purposely ran it up. But, someone still has to put the final bid in, right? If it's not worth the $10k, then don't put in the bid. We've seen some blatant cases of shilling over the years, but I'm not convinced that all of these record prices are the work of a nefarious person shilling.

[Leon]

You must derive income from the hobby to have that point of view?

Originally Posted by Throttlesteer

It's possible someone purposely ran it up. But, someone still has to put the final bid in, right? If it's not worth the $10k, then don't put in the bid. We've seen some blatant cases of shilling over the years, but I'm not convinced that all of these record prices are the work of a nefarious person shilling.

[boneheadandrube]

Maybe someone is buying X-mas gifts.

[ullmandds]

Originally Posted by Leon

You must derive income from the hobby to have that point of view?

Truth hurts sometimes.

[Leon]

Originally Posted by ullmandds

Truth hurts sometimes.

Pete...nm

[Throttlesteer]

Originally Posted by Leon

You must derive income from the hobby to have that point of view?

I wish this was even a possibility. Sadly, I just miss out on a lot of great cards because others have deep pockets. I just focus on other things that don't get the attention.

Most of the mayhem seems to be around portraits. I'm guessing these high bidders are trying to anticipate the next green Cobb or something.

[Aquarian Sports Cards]

Originally Posted by ullmandds

It is also interesting to note that numerous opinions on here come from people who own/are affiliated with AH’s or who derive income from the hobby think this is all normal and natural.

I am one of the former who is not one of the latter.

[ullmandds]

Originally Posted by Aquarian Sports Cards

I am one of the former who is not one of the latter.

Haha...I tell you...it's a conundrum. I DO believe there may be a few wealthy collectors who don't care what they spend on some high quality old cardboard...they just pay whatever it takes to get what they want...it's possible. But on Cy young/Walter Johnson portrait t206's...it just seems a little too convenient for me as a way to rationalize the running up of certain cards just as was done a few years ago with high grade 50's rookie cards by a "group" of people in the hobby.

[AddieJoss]

These T206 HOFs are not “rare” in the sense there are very few that exist. What is happening though is that they are showing up for sale much less frequently. That is driving up prices as many are buying and stashing in Thier collections. So when a card that one wants does show up in the grade desired, folks are paying up instead of waiting a long time for another to appear.
Cory Weiser

[3-2-count]

Another big price last night in Memory Lane for a superior looking mid grade Matty portrait. $6,290.00 after the juice.

This same card sold in April of this year for $3,295.00.

[Throttlesteer]

Originally Posted by 3-2-count

Another big price last night in Memory Lane for a superior looking mid grade Matty portrait. $6,290.00 after the juice.

This same card sold in April of this year for $3,295.00.

It's a nice card, but not THAT amazing for the grade. At some point, things are going to have to settle down a bit. This isnt sustainable

[Peter_Spaeth]

Come on now, everybody panic like it's 2016.

[Touch'EmAll]

Hard to believe the 4.5 grade, looks a solid 5 at least. Chance of a surface imperfection, wrinkle, or other.

[Aquarian Sports Cards]

Originally Posted by Peter_Spaeth

Come on now, everybody panic like it's 2016.

That's the problem, nobody panicked until it was too late in 2016. Glad people are questioning things this time!