I think one factor providing support for F1 prices is the experience folks ran into with UEFA. And this works both ways. On the one hand, many people realize they sold too early, so they’re either (1) holding back product from the market entirely or (2) are willing to let it go only at high BINs. So those behaviors keep supply low. On the other hand, many folks realize that there was a lot of profit to me made from buying UEFA early, so there’s probably a bit of unnatural demand from buyers trying to replicating that dynamic.
In short, we have a situation where — due to recent UEFA experience — there’s less supply and greater demand. So wax prices are being supported. Note that this same dynamic doesn’t exist nearly as much for singles. That explains the disconnect. I think there’s more sealed wax speculation here than normal.
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