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Why I Think SPs are a Better Value than Mangas - One Piece TCG — Transcript

by One Piece of Insight · 4,021 words · 578 segments · language en · Watch on YouTube

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  1. 0:00Hello and welcome to OnePiece of
  2. 0:02Insight. In today's video, we will be
  3. 0:04having a conversation that I have been
  4. 0:05looking forward to for the last four
  5. 0:07videos, which is now that we've seen all
  6. 0:09the data on the mangas and the SPs, we
  7. 0:12can have a structured conversation about
  8. 0:14whether or not mangas are overrated as a
  9. 0:16class, SPs are underrated as a class,
  10. 0:19what does the data tell us about how
  11. 0:21these cards are valued relative to one
  12. 0:23another, and what can we learn from that
  13. 0:25in understanding whether something is
  14. 0:26undervalued or overvalued. As always,
  15. 0:29this is intended to be interesting and
  16. 0:31informative, but not financial advice.
  17. 0:33So, with that, let's jump right in.
  18. 0:35Let's start by looking at some of the
  19. 0:36basics. So, the average manga has a
  20. 0:38population of 5,600 and a price of
  21. 0:40$2,900.
  22. 0:42The average SP has a population of 8,000
  23. 0:45and a price of $285. So, that means that
  24. 0:48on average, mangas equal 70% of the
  25. 0:53population of the SPs, and they are 10
  26. 0:56times the price of the average SP. But
  27. 0:59wait, you say, we shouldn't be counting
  28. 1:01the special mangas. Obviously, the red
  29. 1:03manga and like the Gold Roger, they're
  30. 1:05going to massively pull up the value of
  31. 1:06the manga. Shouldn't you take that into
  32. 1:07account? You're right, I should take
  33. 1:09that into account.
  34. 1:10So, I removed all of those and just
  35. 1:13looked at the normal mangas to do a
  36. 1:14comparison. And so now, we have a
  37. 1:16population of 6,650,
  38. 1:19which has gone up because we've removed
  39. 1:21the rarest mangas from the equation, and
  40. 1:23we have an average price of $1,850.
  41. 1:26So, this now translates into mangas
  42. 1:29being a little over 80% of the
  43. 1:31population of SPs, but being six and a
  44. 1:34half times the price. So, that's
  45. 1:35obviously not as bad as 10x, but it is
  46. 1:37still a lot, and I think it is worth
  47. 1:40asking the question of whether the
  48. 1:42mangas,
  49. 1:43uh, given that their population is not
  50. 1:45significantly different from the SPs,
  51. 1:48should command such a premium. So, we're
  52. 1:50going to talk through some specific
  53. 1:51examples. And I'll be honest, I'm not
  54. 1:53going into this conversation with an
  55. 1:54agenda.
  56. 1:55I genuinely don't know what the answer
  57. 1:57is, right? I have my opinion having
  58. 1:59looked at the data, but like I don't
  59. 2:01know what the market is going to decide.
  60. 2:04And so, please hit me up in the comments
  61. 2:05and tell me what you think. I think this
  62. 2:07is something that we should all be
  63. 2:08asking, and I don't think any individual
  64. 2:10person has the answer, but I did want
  65. 2:12y'all to be aware of what the
  66. 2:14information underlying this is, and
  67. 2:15that's why I wanted to have this
  68. 2:16conversation. So, let's talk some
  69. 2:18specifics. So, let's pit the Manga Boa
  70. 2:22versus the SP Boa. Now, the reason I
  71. 2:23wanted to talk about this one first is
  72. 2:26number one, they have the same exact
  73. 2:28supply. So, it's comparing apples to
  74. 2:30apples here. Number two, popular
  75. 2:32character, the Boa Hancock obviously is
  76. 2:34a very iconic SP. So, while, you know,
  77. 2:37the average value of SPs may be held
  78. 2:39down by some of the less desirable ones,
  79. 2:41like here I think we're really comparing
  80. 2:43apples to apples. And so, what we see
  81. 2:45here is that the Manga is 1.8 times as
  82. 2:49expensive as the Boa SP. Now, if you ask
  83. 2:53me which I would rather have, I would
  84. 2:55rather have the Boa Hancock all day long
  85. 2:56compared to the Manga. I do think that
  86. 2:59objectively speaking, the Mangas are
  87. 3:02really cool, like the backgrounds are
  88. 3:03really cool, but I think if you compare
  89. 3:05it against like the iconic nature of the
  90. 3:07art in the SP, for me there's no
  91. 3:09comparison. I just think that the front
  92. 3:11art in a lot of these Mangas is just
  93. 3:13really, really lackluster. So, for me,
  94. 3:15the fact that the Manga is double the
  95. 3:17price of the SP
  96. 3:18is pretty surprising. You know, I had
  97. 3:20assumed that a lot of the rationale for
  98. 3:23the Mangas being more expensive is that
  99. 3:24they have lower population. And in this
  100. 3:26case, they don't, and yet they're still
  101. 3:27more expensive. So, let's look at
  102. 3:29another example.
  103. 3:31So, let's compare the Manga Luffy from
  104. 3:33the OP11 to the SP Luffy from PRB02.
  105. 3:39So, this is an instance where the Manga
  106. 3:41has a significantly larger population
  107. 3:43than the SP, right? So, there's about
  108. 3:461.8 times as many of the Manga Luffy's
  109. 3:50as there are the SP Luffy's, and yet the
  110. 3:53Manga is still 2.4 times the price of
  111. 3:56the SP.
  112. 3:58This does not make sense to me. I will
  113. 4:00be honest, like the Boa, I prefer the SP
  114. 4:02over the Manga. Maybe this is just me,
  115. 4:04and I'm I'm genuinely curious, right? If
  116. 4:06you prefer the Mangas over the SP, like
  117. 4:09if price was no object, tell me which
  118. 4:11one you would rather have. I think that
  119. 4:12would be really really interesting to
  120. 4:13know. But, you know, the fact that this
  121. 4:15is more than twice as expensive, despite
  122. 4:18having twice the population of the SP,
  123. 4:22to me is shocking, and I can't come up
  124. 4:24with a single justification why this
  125. 4:26difference exists. So, let's look at
  126. 4:27another example. So, we have the Manga
  127. 4:29Nami uh versus the SP Nami from EB03.
  128. 4:33So, the Manga has a population of 7,400
  129. 4:36and a price of $2,000. The Nami SP has a
  130. 4:39population of around 4,000 and a price
  131. 4:42of $1,300. Now, like this is a wildly
  132. 4:45popular SP that has been very hyped
  133. 4:47lately and has gone up a ton and is one
  134. 4:49of the most expensive SPs out there, and
  135. 4:51it is still $700 cheaper than the Nami
  136. 4:55Manga, even though the Nami Manga has
  137. 4:57almost twice the population of this SP,
  138. 5:00right? And so, like when I really
  139. 5:02started to dig into this,
  140. 5:04like it it wasn't just that the average
  141. 5:07Manga was more expensive than the
  142. 5:08average SP, right? It was like you're
  143. 5:11pitting the best and the rarest SPs
  144. 5:14against like,
  145. 5:16you know, medium to high population
  146. 5:19Mangas that are just like middle of the
  147. 5:21road desirability, and those are still
  148. 5:24more expensive.
  149. 5:26And I just I don't know how to justify
  150. 5:28it. I'm not saying it can't be
  151. 5:29justified, but I don't know how to do
  152. 5:31it. I also wanted to look at the Zoro,
  153. 5:34right? Cuz I really like this Zoro
  154. 5:35Manga. I also really like this Zoro SP.
  155. 5:38Uh you know, again, there's more of the
  156. 5:41Zoro Mangas than there likely are of the
  157. 5:44Zoro SP, right? So, you know, not a ton
  158. 5:47more, but you know, 20% more. And yet
  159. 5:49the Zoro manga is 3.2 times as expensive
  160. 5:53as the Zoro SP. Again, I don't know what
  161. 5:56to make of that. And then finally, I
  162. 5:57wanted to look at a cheaper comparison,
  163. 5:59and I wanted to look at something that
  164. 6:00came from the same set. Right? So, even
  165. 6:02if I'm off about the print run, the
  166. 6:04ratio should still be the same.
  167. 6:07Uh and you know, it's coming from the
  168. 6:08same set, it's the same character. So, I
  169. 6:10really think that this is like the
  170. 6:11ultimate apples-to-apples comparison.
  171. 6:14And yet, we have the Mihawk manga, which
  172. 6:17has a population of around 10,000,
  173. 6:19having, you know, 50% more supply than
  174. 6:24the Mihawk SP. And yet the Mihawk manga
  175. 6:27is 4.3 times the price of the Mihawk SP.
  176. 6:31Now, I will admit, I like the Mihawk
  177. 6:33manga here better than the SP. I do
  178. 6:35think aesthetically it's a more pleasing
  179. 6:37and interesting card. But like, is it
  180. 6:394.3 times more pleasing? And actually,
  181. 6:42it should be a lot more than that,
  182. 6:44right? Because it's a higher population
  183. 6:45card. Typically, lower population cards
  184. 6:48have a parabolic relationship with price
  185. 6:50because the smaller amount of cards
  186. 6:53are then pushed up because there's more
  187. 6:55demand fighting over a smaller subset of
  188. 6:57cards. Okay. So, all of this lends
  189. 7:00itself to the big question. Is this
  190. 7:02premium justified?
  191. 7:04So, I'm going to start by giving it the
  192. 7:06benefit of the doubt. The first is that
  193. 7:07like, it could be the result of
  194. 7:09aesthetic preference, right? It could be
  195. 7:11the people genuinely prefer the look of
  196. 7:13the mangas and think that they're just
  197. 7:16like the coolest things and that the SPs
  198. 7:19are pretty meh in comparison. And to be
  199. 7:21honest, this strikes me as plausible.
  200. 7:24And the reason I say this is for me,
  201. 7:26there's like a disconnect between like
  202. 7:27how I think about the mangas in the
  203. 7:29abstract and how I think about the
  204. 7:30mangas when I actually look at them,
  205. 7:32right? Like, if you were pitching a card
  206. 7:33game to me and you were pitching One
  207. 7:35Piece, and you were like, "And our
  208. 7:37ultimate chase cards are going to use
  209. 7:39the most iconic panels from the manga
  210. 7:42to make the cards. I'd be like, yeah,
  211. 7:44that's the sickest thing ever. Of
  212. 7:46course, those are going to be the best.
  213. 7:47Of course, those are going to be the
  214. 7:48most iconic chase cards, right?
  215. 7:50That super makes sense to me.
  216. 7:53But then when I look at them, the front
  217. 7:55art of the cards are just like not that
  218. 7:57compelling. And I feel like the SPs in a
  219. 7:59lot of way do a better job of capturing
  220. 8:01the richness that is the One Piece world
  221. 8:03and the characters than the mangas
  222. 8:05actually do.
  223. 8:07And then so this brings me to my second
  224. 8:09question and thought, which is that
  225. 8:10maybe the manga panels just capture the
  226. 8:13essence of One Piece better, right?
  227. 8:15Maybe seeing the actual panels
  228. 8:18brings back the nostalgia of, you know,
  229. 8:20reading the manga and capturing what
  230. 8:23it's all about, whereas seeing these SPs
  231. 8:25is just like, well, anybody could make
  232. 8:27art, right? Yeah, I mean, they're cool,
  233. 8:29but like anybody could make that. Like,
  234. 8:31this is what Oda drew. This is what I
  235. 8:33read, right? Maybe the mangas do a
  236. 8:35better job of capturing that and better
  237. 8:38reflecting like what One Piece really
  238. 8:40means to people. I super believe that
  239. 8:42that's possible. Um that as an
  240. 8:44articulation makes a ton of sense to me.
  241. 8:47So like, in my opinion, both of these
  242. 8:49things are plausible. And if either of
  243. 8:50them are true, if it's either the
  244. 8:51aesthetics or it's that the manga better
  245. 8:53captures the spirit of One Piece or some
  246. 8:55combination of both, like I could see
  247. 8:57this gap persisting long term. But the
  248. 8:58reason I wanted to have this
  249. 9:00conversation is I also think that there
  250. 9:01are some explanations that could result
  251. 9:04in the gap narrowing or disappearing
  252. 9:07over time.
  253. 9:08And the first is that, you know, mangas
  254. 9:10could simply have a market advantage in
  255. 9:12the way that PSA has a market advantage.
  256. 9:14And what I mean by that is that like the
  257. 9:16PSA product is not inherently better
  258. 9:18than any other grading company's
  259. 9:20product, but because they're the most
  260. 9:23well-known and because they're the most
  261. 9:25collected, collectors pay higher premium
  262. 9:28for them than they do for equivalent
  263. 9:29products, right? The same thing could be
  264. 9:32true here of mangas in that the mangas
  265. 9:35were known to be the chase cards in the
  266. 9:37very very beginning. That made them
  267. 9:39iconic. Everybody clung to them as the
  268. 9:41most expensive cards. And now we just
  269. 9:43have an expectation that they should be
  270. 9:46more expensive, even though the
  271. 9:47underlying data doesn't actually support
  272. 9:49it, right? And so like markets are
  273. 9:51ultimately propped up by people's
  274. 9:53expectations and agreement of what
  275. 9:54things should cost. And sometimes the
  276. 9:56momentum of just doing what we've always
  277. 9:59done can carry a lot. But at the same
  278. 10:01time, things do happen to break that
  279. 10:03momentum. And so we have to understand
  280. 10:06if we are paying a premium that is
  281. 10:07essentially a current market advantage,
  282. 10:10because then that's sort of like buying
  283. 10:11high, right? If that market advantage
  284. 10:13ever erodes, you're going to see those
  285. 10:15prices slip. And I think it's important
  286. 10:16to be aware of that. And I think the
  287. 10:18possibility, to me is the easiest one to
  288. 10:20try to root out, is could this be
  289. 10:22misinformation about rarity? Like most
  290. 10:25of the people that I talk to that don't
  291. 10:26spend all this time in the data that I
  292. 10:28do, think that mangas are the rarest
  293. 10:29cards. That makes sense. They're sold as
  294. 10:32the top chase cards. They're the most
  295. 10:33expensive cards. It would make sense
  296. 10:35that they're the rarest. But amazingly,
  297. 10:37a lot of the time, they're not. And so
  298. 10:39like I'm doing what I can to try to put
  299. 10:41that information out there to see if
  300. 10:44this is just an information asymmetry
  301. 10:46issue, right? I honestly don't know.
  302. 10:49We'll find out, maybe.
  303. 10:52So, I think this is another plausible
  304. 10:54explanation of why these might be
  305. 10:55overvalued. And if this is the reason,
  306. 10:58then this is very dangerous for their
  307. 10:59prices long-term, right? As the
  308. 11:02information disseminates into the
  309. 11:04market, you would expect the gap to
  310. 11:06shrink over time. And the reason I say
  311. 11:08this is because we have seen this happen
  312. 11:09before in other card games. So, I'm
  313. 11:11going to give you two quick examples. Uh
  314. 11:13the first is the Shinji Kanjira Magikarp
  315. 11:16from Paldea Evolved. So, when Paldea
  316. 11:19Evolved came out, the previous sets had
  317. 11:21had illustration rares, special
  318. 11:23illustration rares. And the special
  319. 11:24illustration rares had lower pull rates
  320. 11:26than the illustration rares.
  321. 11:28But then this set came out, and the pull
  322. 11:31rates were such that because there were
  323. 11:33more illustration rares than special
  324. 11:35illustration rares, the total population
  325. 11:38of cards ended up being the same. And so
  326. 11:41when the set came out, people were like,
  327. 11:43"Well, this is just an illustration
  328. 11:44rare. It's pretty common. It shouldn't
  329. 11:45be worth very much." And so it wasn't a
  330. 11:47very expensive card. And then when
  331. 11:49people realized that this actually was
  332. 11:52just as rare as any other card in the
  333. 11:53set,
  334. 11:54then the price jumped, right? Because
  335. 11:57they understood that even though it
  336. 11:58wasn't characterized as the super rare
  337. 12:01card that you should be trying to pull,
  338. 12:03in reality, it was just as hard to pull
  339. 12:06as any of those cards. And therefore,
  340. 12:07the preference for the art ended up
  341. 12:09carrying the day in a way that it hadn't
  342. 12:10previously. So, I think that is an
  343. 12:13example of something that could happen
  344. 12:14here if it is an information asymmetry
  345. 12:16issue.
  346. 12:18>> [snorts]
  347. 12:18>> And then the last example from Pokémon
  348. 12:20has to do with the Mega Charizard EXs,
  349. 12:22right? So, you have two different cards
  350. 12:25that came out in Phantasmal Flames. You
  351. 12:27have the Mega Hyper Rare, which has a
  352. 12:29pull rate of 1 in 1,260
  353. 12:32packs, and you have the special
  354. 12:34illustration rare Mega Charizard X
  355. 12:37that has a pull rate of 1 in 400 packs.
  356. 12:40So, the gold Mega Charizard X is way,
  357. 12:44way, way rarer than the special
  358. 12:46illustration rare, right? Like three
  359. 12:49times rarer. And yet, if you look at the
  360. 12:51price, the gold one is $320
  361. 12:54and the special illustration rare is
  362. 12:55$825.
  363. 12:57And so, even though it's rarer and even
  364. 12:59though Pokémon put it out to be like the
  365. 13:02most rare chase in the set,
  366. 13:05people like the art of the special
  367. 13:07illustration rare better. And so, they
  368. 13:10prioritize that and they spend more
  369. 13:12money on that. And so, like to parallel
  370. 13:15this to the mangas, like
  371. 13:17I don't know how much people genuinely
  372. 13:19love the mangas versus they just like
  373. 13:22think that they're the best chase card.
  374. 13:24And so, if a lot of their value is
  375. 13:26people thinking they're the best chase
  376. 13:27card,
  377. 13:29then someday the art may carry the day,
  378. 13:31right? Like when the demand exceeds
  379. 13:34supply, particularly as the game
  380. 13:36continues to grow, we could see the
  381. 13:38better art cards commanding more value
  382. 13:41because more new people coming in look
  383. 13:43at them and think, "Yeah, no, that's
  384. 13:45actually what I want. I don't care about
  385. 13:46the gold card. I want the one that has
  386. 13:48the really awesome art of my favorite
  387. 13:50characters on it, right?" And so, like,
  388. 13:53especially if the people who are coming
  389. 13:54into the game aren't as nostalgic for
  390. 13:58the actual manga uh as the people who
  391. 14:00started in the game, right? Maybe
  392. 14:02they're coming in through the anime or
  393. 14:03the live action. So, they may not care
  394. 14:04as much about the manga. So, for me, all
  395. 14:07of these are reasons why I could see the
  396. 14:09price eroding over time. And so, this is
  397. 14:11not to hate on mangas. I do think
  398. 14:13they're cool, but I just wanted to share
  399. 14:15this information because if you were
  400. 14:16spending a lot of money to buy a manga,
  401. 14:18I do think it's important to understand
  402. 14:20that it's not a given that these are
  403. 14:22going to remain the most expensive cards
  404. 14:24uh throughout the history of the game.
  405. 14:26One other possible explanation here that
  406. 14:28I really think we have to mention is
  407. 14:30that SPs could just be underrated. It
  408. 14:32could be that mangas aren't overrated
  409. 14:35compared to SPs. It could be that SPs
  410. 14:37are underrated compared to mangas and
  411. 14:39compared to other cards.
  412. 14:40Now, how would we prove this? I'll be
  413. 14:42honest, I haven't been able to come up
  414. 14:43with like an ironclad way to show
  415. 14:45whether SPs are undervalued
  416. 14:48uh or whether the mangas are overvalued.
  417. 14:50I do think that if SPs are undervalued,
  418. 14:52we would expect to see sort of like
  419. 14:54a relationship where they're being
  420. 14:56priced lower to other comparable cards
  421. 14:59based on their population. One of the
  422. 15:01things that we consistently see is even
  423. 15:02when mangas have higher populations than
  424. 15:05SPs, they're more expensive. So, if SPs
  425. 15:09don't have those relationships to alt
  426. 15:11arts, that could be an indication that
  427. 15:13they're undervalued. Or if they're
  428. 15:15consistently below those prices for alt
  429. 15:17arts, that could be an indication that
  430. 15:19they're undervalued. So, there's a lot
  431. 15:20of different ways that we could look at
  432. 15:21this, but I did want to compare them
  433. 15:22against alt arts to test this theory.
  434. 15:24So, I started by looking at what I
  435. 15:26thought was like the most
  436. 15:27apples-to-apples comparison I could find
  437. 15:29between SPs and alt arts. We have these
  438. 15:30two event mangas. They look pretty
  439. 15:33similar. They're both Luffy. The biggest
  440. 15:35difference here is that the Gum-Gum
  441. 15:37Giant, coming in PRB-02, for whatever
  442. 15:39reason, has the same pull rate as an SP,
  443. 15:41and the Gear 2 has the same pull rate as
  444. 15:44an alt art. So, what we have here are
  445. 15:46like wildly different populations.
  446. 15:48There's approximately, in my estimation,
  447. 15:50five times as many of the Gear 2s as
  448. 15:53there are of the Gum-Gum Giants. Uh and
  449. 15:55yet the Gum-Gum Giant is only about
  450. 15:57three times as expensive as the alt art.
  451. 16:00So, that shows that in this case the alt
  452. 16:02art actually has a more favorable
  453. 16:04relationship relative to rarity. So,
  454. 16:06relative to its rarity, the alt art is
  455. 16:08more expensive than the SP is. That's
  456. 16:10the type of thing that we would expect
  457. 16:11to see if SPs are undervalued across the
  458. 16:15board. And while I was able to find
  459. 16:18examples where the alt arts,
  460. 16:19particularly the most expensive alt
  461. 16:21arts, were more expensive relative to
  462. 16:23rarity than the SPs, for the most part I
  463. 16:25didn't find that. So, to give you
  464. 16:27another example, I took the most
  465. 16:28expensive Luffy SP, which is the wanted
  466. 16:31poster from OP-09, and I compared it
  467. 16:33against the most expensive of the Luffy
  468. 16:36normal alt arts,
  469. 16:37uh which is the OP-01 Luffy alt art. The
  470. 16:40SP here had a population of around 9,500
  471. 16:43and a price of 625, and then this alt
  472. 16:46art had a population of around 14,700
  473. 16:49and a price of 340. There were around
  474. 16:51two of these Luffy wanted posters for
  475. 16:53every three of the OP-01 Luffy alt art,
  476. 16:56and yet the wanted poster uh is about
  477. 16:591.8 times as expensive as the alt art.
  478. 17:03So, this actually shows a slightly
  479. 17:05favorable ratio for the SPs relative to
  480. 17:07its rarity, but it's pretty balanced.
  481. 17:09So, again, you know, this is another
  482. 17:11data point that I think is kind of
  483. 17:12mixed, but I think you could point to it
  484. 17:14and argue that maybe SPs are a little
  485. 17:16bit undervalued because they're being
  486. 17:18tracked so closely by the alt arts, but
  487. 17:21there are plenty of examples where the
  488. 17:22alt arts, you know, particularly when
  489. 17:24you get out of the top tiers of alt
  490. 17:26arts, are in like a totally different
  491. 17:28realm than the SPs in terms of how we
  492. 17:30price them. So, even going to like the
  493. 17:32second most expensive of the normal
  494. 17:33Luffy alt arts, I'm not going to talk
  495. 17:35about treasure rares here since they're
  496. 17:36a little bit different, but like if we
  497. 17:38look at the same Luffy wanted poster and
  498. 17:40we compare it to the second most
  499. 17:42expensive Luffy alt art, the OPO2 Luffy,
  500. 17:46uh again, you know, we have 9,500
  501. 17:49population for the SP, 14,500 population
  502. 17:52for the alt art. So, again, there's
  503. 17:53about two wanted posters for every three
  504. 17:56of the alt art Luffys, and yet the
  505. 17:57wanted poster is almost seven times as
  506. 18:00expensive as the alt art, right? So,
  507. 18:02that shows a pretty big premium for SPs,
  508. 18:05and while I wasn't able to do this
  509. 18:06analysis for lots of different cards, I
  510. 18:09suspect what we would see is the very
  511. 18:11most expensive alt arts, the very most
  512. 18:13expensive leader cards compare somewhat
  513. 18:16favorably or equally to the SPs, but
  514. 18:19then when we get into the lower
  515. 18:21categories like the floor for an SP
  516. 18:23relative to its rarity is much higher
  517. 18:25than it is for the alt arts. And so, for
  518. 18:28me, this data is a little bit mixed in
  519. 18:31terms of whether SPs are underrated or
  520. 18:33overrated. So, I guess what I would say
  521. 18:35is that there were probably some SPs
  522. 18:36that are underrated, some SPs that are
  523. 18:38pretty fairly rated, and there may even
  524. 18:40be a few SPs that are overvalued. You
  525. 18:42know, I'd make the same argument with
  526. 18:43the alt arts. But, this is different
  527. 18:45from what I'm seeing with the mangas,
  528. 18:47where the mangas, regardless of anything
  529. 18:49else, regardless of population,
  530. 18:52regardless of character, seem to have a
  531. 18:55really, really strong price premium that
  532. 18:57just isn't sensitive to any other data
  533. 18:59point, and that makes me concerned. So,
  534. 19:02whether you think the SPs are underrated
  535. 19:03or whether you think they're fairly
  536. 19:04priced, I do think that the data is
  537. 19:06pointing towards the mangas as a class
  538. 19:09being overrated relative to the SPs and
  539. 19:12probably also the leaders in the alt
  540. 19:14arts. You know, we haven't talked about
  541. 19:15promo cards at all.
  542. 19:17Promo cards I think will probably be a
  543. 19:18mixed bag. Maybe I'll look at that at
  544. 19:19some point in the future. So, for now,
  545. 19:21if you're buying these mangas because
  546. 19:22you absolutely love them and they are
  547. 19:23the pinnacle of One Piece for you, cool.
  548. 19:26No worries, right? Buy what you love.
  549. 19:28But, if you are buying the mangas
  550. 19:30because someone's telling you that this
  551. 19:31is the most iconic thing that you have
  552. 19:32to own, my recommendation is to think
  553. 19:35twice about it because to me these feel
  554. 19:38like they're overrated as a class. And
  555. 19:41if any of those things that we talked
  556. 19:42about do change in the future, we could
  557. 19:44see prices fall, and we could see them
  558. 19:45come more closely in line with the SPs.
  559. 19:48So, that's all I have for today. I hope
  560. 19:50you found this interesting. Uh I'm sure
  561. 19:52many of you disagree with what I have to
  562. 19:55say. Please hit me up in the comments
  563. 19:57and tell me why. I am happy to learn why
  564. 19:59I'm wrong on these subjects, but I
  565. 20:01thought it was a worthwhile discussion
  566. 20:02to have. So, you know, if you found the
  567. 20:04video interesting, please give us a
  568. 20:05like. If you haven't already, please
  569. 20:07subscribe. You know, if you're
  570. 20:08interested in picking up any of these
  571. 20:09cards, we have our TCGPlayer affiliate
  572. 20:11link, as well as our eBay storefront. If
  573. 20:13you do decide to purchase through there,
  574. 20:14we'll get a small commission, which is
  575. 20:16really, really helpful. Obviously, no
  576. 20:18pressure though. Uh and so, with that,
  577. 20:20as always, I appreciate your time, and I
  578. 20:22will see you in the next one.

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