The sports collectible market took a hit in 2023, according to a report by Altan Insights, a company specializing in monitoring sales across various collectible markets. Using data from Card Ladder, Altan Insights identified a downward trend that began about 18 months ago and continued through the year.
One significant finding of the report was the decline in sales for ultra-modern cards, which are those issued from 2009 to the present. Sales for ultra-modern cards dropped by 34.8% compared to the previous year. Modern cards, defined as those from 1984 to 2008, also experienced a decrease in sales, with a drop of 30.8%. Vintage cards, on the other hand, saw a decline in sales but fared relatively better than their modern and ultra-modern counterparts.
In the fourth quarter of 2023, vintage and pre-war cards performed better than modern and ultra-modern ones, widening their advantage in the collectible market for the year.
The report highlighted specific segments that saw significant price declines, including football, soccer, racing, and basketball cards. Football cards, particularly high-end cards of quarterbacks, both young and veteran, failed to regain their value. Injuries to popular quarterbacks in the latter half of the season further exacerbated the situation.
Altan Insights also noted a significant dip in the top 50 sales at most auction houses from 2022 to 2023. Interestingly, the decline was less pronounced in the next tier of sales, suggesting a slightly stronger demand in the mid-range market segment.
Here are some key findings from Altan Insights’ in-depth report on the fourth quarter and the year 2023 as a whole:
– The fourth quarter of 2023 witnessed a 40% year-over-year and 27% quarter-over-quarter drop in the number of six-figure auction sales, marking the lowest total in the past three years.
– In 2023, there were eleven recorded sales of baseball items exceeding $1 million, with eight involving cards or memorabilia of Babe Ruth and Mickey Mantle, spread across five different auction houses.
– Unlike 2022, where there were twelve seven-figure basketball card sales, in 2023, there were none. Altan noted a disappearance in the demand for modern patch cards at high price points, which did not return throughout the year.
– The top-selling cards of currently active basketball players on eBay in the last four months of 2023 included LeBron James, Victor Wembanyama, Steph Curry, Luka Doncic, and Giannis Antetokounmpo.
– The market for LeBron James and Steph Curry cards across all platforms dipped by over 40% last year, whereas Michael Jordan and Kobe Bryant cards remained relatively stable.
– Notably, Jordan cards from the late 1990s constituted five out of the top ten Jordan card sales in the fourth quarter, including three out of the top five.
– While the market for game-worn and game-used memorabilia showed modest growth compared to the previous year, the top 25 and top 50 sales in this category in 2023 were more than double the levels achieved in 2021.
Altan Insights’ report provides a comprehensive overview of the shifting dynamics in the sports collectible market. It highlights the fluctuations in different segments and sheds light on the evolving interests of collectors and investors in this domain.