The redemption market has always been an oligopsony, as far as I can remember.
When I sold my collection many years ago, the top bid was like $300 or something. I ended up piecing it out individually for like $2K instead. Not 100% accurate numbers, I don’t remember the real ones - but you get the idea.
The reason is the redemption demographic isn’t wealthy. It’s children, young adults, and church pastors. Those demographics can drop $20 here or there, but not $1500 at once. Those that can afford large purchases are few and far in between, and have always been.
I’m at a place professionally where I could drop $10K on a collection on a whim and not notice the financial impact, but I’m also at a place where I’m not interested in Redemption. And I’m guessing that’s a theme -too - as people get older, they have more disposable income, and less time/interest for a card game.
In real estate, it’s not uncommon for luxury mansions to be on the market for over a year, even in tight markets. Not because they’re priced wrong, but because the buying population is so small.
