Here are the top reasons for the boom in the sports card collection industry according to experts
In the last couple of years, the sports card collection industry has seen an enormous increase in popularity. Many sports card collectors found it extremely difficult to believe that such a day could be here where sports cards would be selling for millions of dollars. Read on below and find out the reasons for this historic boom in the sports card collection industry.
Revival Of Sports Cards
- As a result of the covid19 pandemic, countries around the world including the United States implemented a number of measures to curb the spread of covid19. One of these measures was imposing curfews and total lockdowns. As a result of these lockdowns, in-person and live sports events were banned.
Many sports enthusiasts began to go through their attics and basements and came across their old collections of sports cards. Sportscard collection used to be a national hobby in America, and people of all ages used to invest their time and money in sports cards. After posting the sports cards on social media, many more people felt nostalgic and began looking for their own collections of sports cards.
- From there a trade started, where people started exchanging sports cards to complete their collections. Soon online platforms such as eBay started getting listings for sports cards sales and thus the sports cards hobby was revived.
Sports Cards Collector’s Profiles
- It was reported by Yahoo! that the ten biggest sports cards deals were made in the last eight months, worth over 15 million US$. The 1952 Topps Micky Mantle card holds the record of being the most expensive card sold this year, with a price tag of over $5.2 million.
News articles and the internet have caused a spike in sports card’s values as well as interest. This has prompted many people to get back to their sportscard collecting hobby, whereas it has also attracted many new people to this industry.
- People who want to make money fast, known as quick flippers, buy lots of sports cards and then wait for their value to increase. They then sell on a profit. Some people view sports cards to be similar to stocks. They invest inexpensive ones and wait for their values to spike so they can sell them off. Lastly, the hobbyists, who collected sports cards as kids are back into sports card collection. Their main motivation is nostalgia.
Sports Cards As NFTs
- Sports cards are now available as NFTs and are being bought and sold for millions of dollars. An NFT or nonfungible token is a collectible digital object with its unique identifier and code. This is similar to cryptocurrencies.
In addition to the sports cards, short video clips of the player’s key moments during games, and their rare pictures are also being sold as NFTs. The sports cards collection industry is definitely evolving, as NFTs are breaking all sale and popularity forecasts.
Bubble Or Boom
- Many people are worried that the sudden spike in sports cards’ popularity and value could actually be a bubble. As from previous experiences, many major corporations and people have lost a lot of money because they invested in bubbles. Experts however have a different thing to say.
Experts say that sports card collection is not a bubble because it has always existed as a hobby. Before this recent boom, sports card collection was limited to a very niche audience and their graded sports cards were still valued at higher prices. Now because of being in the spotlight, their values have increased exponentially. Experts believe that it is in essence a boom and not a bubble.
We, at Golden Cards Breaks, are the largest distributor and seller of sports cards. Call us today and get to be a part of the sports card collector family.