Wagner Auction

[drcy]

Yes. Rarity is a measure of supply. Scarcity is a measure of demand versus supply. Scarcity is fairly represented in price value. The Mickey Mantle 52 Topps isn't rare, but its book values shows that is definitely scarce.

Originally Posted by Huysmans

The distinction between "rare" and "scarce" needs to be stated, as these words are often interchanged, which can be incorrect and misleading.

A card like the T206 Wagner is SOMEWHAT rare - dependent on what you're using as guidelines for "rare"...
while the card can rightfully be called EXPONENTIALLY scarce, as the number of individuals who covet an example - which is forever increasing - far exceed the known existing specimens.

[Tao_Moko]

Here are actual dictionary definitions:

Rare - (of a thing) not found in large numbers and consequently of interest or value.

Scarce - (especially of food, money, or some other resource) insufficient for the demand.

By definition they are not very distinguishable. Easy to say Wagner is both rare and scarce. My use of "rare" is specific to our hobby as I've always understood and best explained in David's explanation below. However, we've never quantified the two as a hobby standard. I would consider the Doyle to be rare and the Wagner as scarce but there is no standard to support my assignment.

Originally Posted by drcy

Yes. Rarity is a measure of supply. Scarcity is a measure of demand versus supply. Scarcity is fairly represented in price value. The Mickey Mantle 52 Topps isn't rare, but its book values shows that is definitely scarce.