(NEXSTAR) — During the pandemic, many seemingly found themselves picking up new — or old — hobbies. For some, that meant collectible cards.
Collectors were frequently seen waiting to buy armfuls of card packs at a time. Professional grading companies, important to those looking to make a profit on their cards, reported backlogs as millions of submissions filed in. During the first half of 2021 alone, eBay reported $2 billion in trading card transactions on its site, averaging one sports trading card purchase per second.
“In the last three years, our industry has really exploded,” Mike Provenzale, a production manager with Heritage Auctions, told Nexstar in 2022. While other hobbies have been cast aside (when was the last time you made sourdough?), the same can’t be said for collectibles.
Collectors are ‘sticking with it’
Joe Orlando, executive vice president of sports at Heritage Auctions, told Nexstar that the collectibles market is still thriving.
“A good portion of the people who entered the hobby at that time are sticking with it, and that is an excellent sign for the long-term health of the industry,” he said.
eBay’s success has also continued. Its trading cards volume saw double-digit growth to end 2024, Adam Ireland, eBay’s vice president and general manager of global collectibles, shared with Nexstar.
“The pandemic reignited a passion for collecting that continues to thrive today, and we’re seeing generational talents – like Caitlin Clark and Shohei Ohtani – inspire excitement and bring new people into the trading card hobby,” he added.
A more accessible community and reachable data have helped, Ireland explained, pointing to eBay Live, the live shopping format that gives fans the chance to tune into “breaks” — collectors open packs of cards which viewers can buy into — and interact with others.
The sports, athletes seeing high demand
You may hear a lot about baseball when it comes to collectibles, but there are far more segments to the market — some of which are growing in popularity.
Take the WNBA for example. Goldin, the online marketplace focused on rare and high-value collectibles acquired by eBay last year, set the record for the highest WNBA card sale ever in December when a Clark card sold for $234,850, Ireland said.
Other young players — San Antonio Spurs’ Victor Wembanyama, Washington Commanders quarterback Jayden Daniels, and Pittsburgh Pirates pitcher Paul Skenes — have also “driven high demand.” Skenes’ highly-coveted MLB debut rookie card recently sold for $1.11 million (thanks to a winning bid by Dick’s Sporting Goods) following a two-week auction — that’s far more than the $875,000 Skenes is set to make this year.
Wrestling and Formula 1 trading cards have gained momentum. According to Ireland, Formula 1 trading cards saw a 60% increase in global searches in January compared to the same time last year.
But, as Ireland and Orlando noted, there remains a premium on nostalgia in the collecting community.
Orlando highlighted “a hyper-focus on the iconic players and moments in sports history” over the last five years. He pointed to Babe Ruth, Mickey Mantle, Jackie Robinson, Muhammad Ali, Michael Jordan, and Tom Brady — all athletes who transcended the sports world to become icons with long-desirable collectibles. Only now, they’re receiving even greater attention.
“Some things change, but the GOATs never go out of style,” Ireland said.
Orlando argued an active player, Ohtani, has earned his spot on that list. In October, the ball that made Ohtani the first MLB player to record 50 home runs and 50 stolen bases in a single season sold for nearly $4.4 million at auction. That price not only surpassed Ohtani’s estimated paycheck for the 2024 season but shattered the record paid for any sports ball.
Collectors aren’t limited to cards
While cards are simple, accessible, and easy to track, “nearly every sports collectibles category has enjoyed some degree of heightened success” in recent years, according to Orlando. Specifically, it’s game-worn and game-used equipment that “appears to have a bright future.”
“The appeal is clear. These are the tools of the trade that were used or worn to make history on the field,” Orlando added. “They are not manufactured collectibles in the same way a trading card is. As buyer confidence grows, so does the category.”
Several have sold for eye-popping prices. The New York Yankees jersey Ruth wore while calling his shot during the 1932 World Series sold at auction for more than $24 million in August. Last month, a uniform worn by fellow Yankee Roger Maris during his 61-home run season in 1961 went for over $1.58 million at Heritage Auctions.
While you may recognize one name over the other, Orlando said it was the exceptional quality of both items that pushed them over the top.
The collectibles cycle
Though some categories continue to see success, others are experiencing a notable decline. That includes modern-era trading cards, according to Orlando.
“What’s essential is that collectors approach this hobby with a long-term view. All markets, not just the one in collectibles, go through up and down periods,” he said. “Just as a financial advisor would implore you not to stare at your 401(k) each day, the same is true here. Over time, the highest quality collectibles have a track record of success, so short-term market swings are expected from time to time.”
There’s also a natural cycle with collecting. Players popular with one group of collectors may not carry over to the next. A player who was fantastic on the field doesn’t always correlate to a high-value target for collectors. An item that may look unique, like error cards, may not draw much financial intrigue.
Undeterred and ready to get into collecting? Orlando has some tips.
“My advice to new participants in the collectibles market is the same advice I was given as a much younger person. Buy the best quality you can afford. Not only do these types of items often perform the best from a monetary perspective over the long haul, but even more importantly, they are the types of items that provide the collector with the highest degree of personal satisfaction. If you can look at a collectible every day and love it, you’ve made the right choice.”
