(Video being referenced: Pokemon Card Auctions Of The Week! Overwhelming Amount Of Black Label Cards! - YouTube)
Ok I know what everyone is going to say "Just because there is an increase in demand, doesn’t mean there is a “bubble” going on.
Yes I agree, but it does kind of feel off that a card that would sell normally on eBay for $5 in its raw version and $40 with a PSA 10, is selling for over $400 with a black colored BGS label… (2:49 in video link above)
Same thing with a $600 card as a PSA 10 is selling as a BGS 10 Black label for over $4,600… (3:52)
Seems a little too silly to me…
Hey I could just be a “hater” and don’t understand the coveted perfect grade from BGS.
If that is the case, then I am staying as far away from BGS as possible since I don’t understand the “why” behind it all.
Now this could have been always the case with Black Labels and I hadn’t jumped on the honey pot sooner
But If people are willing to pay 10x the price for modern card in Japanese, then hell, I need to send all my Japanese Vstar Universe into get graded with BGS and flip on ebay. I would do that 100 times over, make a couple 100K, and retire happily.
Saying all this, it seems too slimy and unrealistic that there are collector’s out there forking over their hard earned cash for modern high-pop garbage for a label on it.
What I mean to say is that it seems unsustainable. I would predict that there will be a time, as more and more Black Labels sell for ridiculous prices, where everyone and their mother are submitting anything and everything into BGS to get as many Black Labels as possible and fire selling them into the market. I mean why not? It’s potentially free money.
Hell I could see a bunch of people cracking PSA slabs (if they haven’t started already) and submitting directly to BGS to play that game.
Obviously a Black Label is still a hard grade to get, but with the 100’s of cards possibly being submitted, there has been a moderate success rate with BL’s in recent times. Some pope are saying it now is easier to get a BL. That could be the case or just “Survivorship Bias”.
We all know Japanese quality is above all things and there could be a very high success rate for just Japanese. Where people just focus on submitting Japanese and nothing else to BGS.
Either way, I see this as an unsustainable path the Black label is going down and will see what happens to all this supply of BL’s in the near future…
Also Thank you @smpratt for the personal video: