SV03: Obsidian Flames Houndour 204/197: PSA 9 vs PSA 10
The PSA 10 to PSA 9 spread on SV03: Obsidian Flames Houndour 204/197 is an unusually wide gem-mint premium: $109, with PSA 10 copies trading at 5.9x a PSA 9. Based on the most recent PSA 10 sale of $110.14 on May 25, 2026, the math leans toward holding the 9: expected value turns negative at conservative upgrade probabilities once the resub fee is in.
PSA 10
$130.86
Last sale $110.14 on
PSA 9
$22.25
Last sale $18.95 on
PSA 8
$14.90
Last sale $17.99 on
The Spread
The PSA 9 to PSA 10 spread on Houndour 204/197 (SV03: Obsidian Flames).
$109
Dollar gap, PSA 9 to PSA 10
5.9x
PSA 10 sells for 5.9x a PSA 9
Three-Outcome EV Calculator
15%
70%
15%
Defaults are conservative starting points. Adjust based on the specific slab. A borderline 9 with strong centering plays differently than a 9 with edge wear.
PSA 10 outcome (sale price minus resub minus acquisition)
$0
PSA 9 outcome (regrade, no upgrade)
$0
PSA 8 outcome (downgrade, slower sell, tied capital)
$0
Expected Value
$0
Math favors holding the 9
SV03: Obsidian Flames 204/197 Houndour is a modern-era release from 2023. The gap between its PSA 9 and PSA 10 prices is $109.
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