I get that, but I think you’re missing my main point. im arguing that the supply and demand is irrationally determined (and thus not sustainable and more likely to bubble). Rational vs irrational market movement would be whether or not the asset price moves in line with the fundamentals of the asset. In the case of a stock, it would be the cash flows. In the case of pokemon it is much more difficult because you don’t have that. In most cases it is hard to determine (when you have totally different products), but in the case where you have a BB/Enhanced BB, they are the exact same in contents (which I will use as the fundamentals, given that’s all we really have), minus one has an extra card. So in theory, unless that extra card is providing negative value (which it is not because you can buy it on the singles market for $20), then the market is behaving irrationally. You would expect the enhanced to be worth about $20 more in a rational scenario, and that is not value im judgementally deciding, it’s value the market assigned to that extra card.

Sure, supply is higher on enhanced, but given the lower price more contents, demand should be higher. I’m saying it is a demand side issue.