Originally Posted by eldavojohn
These are all fair points and likely true. But I think using phrases like "bubble bursts" and "canary in the coalmine" is alarmism. Market adjustments are natural, a "bubble bursting" is when people are forced to close up shop completely because some part of the equation was largely falsified.
The fact is people are still buying sketch cards -- merely at lower prices. As someone who bids on a lot of sketches on ebay and wins relatively few, I can say that demand still largely exists but, yeah, $400+ for a sketch card is just incredibly unrealistic to me (as a newcomer). That does not equate to a bubble bursting.
I disagree. Bubble bursting means a rapid decline in value. It doesn't mean the value goes to nothing. I think that's an accurate description of sketch card values over the past few years.
Here's one example: I bought a Glebe in November for $275 which several people told me was a "good" price. I sold it in February for $150. Given recent sales, it's probably a $80-100 card at this point. That's a pretty steep decline over a relatively short period.