Yeah, the higher end is “different” because card grading is a gatekeeper into the market. There are a lot more PSA 10 quality cards sitting in collections ungr

Yeah, the higher end is “different” because card grading is a gatekeeper into the market. There are a lot more PSA 10 quality cards sitting in collections ungraded than have been graded and are “in circulation”. But now that those top cards are 6-figures and higher, nobody in their right mind is going to put one of those things in the mail and not get it back for 12-18 months (the grading firms aren’t even accepting cards now anyway). Something worth $1 million once graded is worth $1000 ungraded. You can’t insure it for $1 million until it’s graded. Chicken v. Egg.