The sports collectible market has taken a hit in 2023, according to a report by Altan Insights. The company, which monitors sales across various collectible markets, analyzed data from Card Ladder and observed a downward trend that started around 18 months ago and continued throughout the year.
The report revealed that sales for ultra-modern cards, which are cards issued from 2009 to the present, plummeted by 34.8% compared to the previous year. Modern cards, ranging from 1984 to 2008, also saw a decline in sales, dropping by 30.8%. In contrast, vintage cards experienced a decline in overall sales but fared comparatively better than their modern and ultra-modern counterparts.
In the fourth quarter of 2023, vintage and pre-war cards outperformed modern and ultra-modern cards, widening their advantage in the collectible market for the year, as highlighted in Altan’s report.
The report specifically pointed out significant price declines in the segments of football, soccer, racing, and basketball cards. Football cards, particularly high-end cards featuring quarterbacks both young and veteran, failed to regain their value. The situation was further exacerbated by injuries to popular quarterbacks in the latter half of the season.
Altan’s report also highlighted a considerable decrease 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, indicating slightly stronger demand in the mid-range market segment.
Key findings from the comprehensive 41-page report on the fourth quarter and the year 2023 are as follows:
– A 40% year-over-year and 27% quarter-over-quarter drop in the number of six-figure auction sales in the fourth quarter, marking the lowest total in the past three years.
– In 2023, there were eleven recorded sales of baseball items exceeding $1 million, with eight of them involving cards or memorabilia of baseball legends Babe Ruth and Mickey Mantle, spread across five different auction houses.
– In contrast to 2022, where there were twelve seven-figure basketball card sales, there were none in 2023. Altan noted a disappearance in the demand for modern patch cards at high price points, which persisted 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, while Michael Jordan and Kobe Bryant cards remained relatively stable.
– Notably, Jordan cards from the late 1990s accounted for five of the top ten Jordan card sales in the fourth quarter, including three of the top five.
Although the market for game-worn and game-used memorabilia showed only 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 analysis of the changing dynamics in the sports collectible market. It sheds light on the fluctuations in different segments and highlights the evolving interests of collectors and investors in this domain.
