The sports collectible market saw a notable decline in 2023, according to a report by Altan Insights, a company specializing in monitoring sales across various collectible markets. Altan Insights utilized data from Card Ladder to analyze the trends in the industry, revealing a downward trajectory that began 18 months ago and continued throughout the year.
The report highlighted a stark decrease in sales for ultra-modern cards, which are typically issued from 2009 to the present. These cards experienced a significant drop of 34.8% compared to the previous year. Additionally, modern cards, spanning from 1984 to 2008, also saw a decline in sales, with a decrease of 30.8%. While vintage cards also experienced a decline, they fared relatively better than their modern and ultra-modern counterparts.
Interestingly, the fourth quarter of 2023 showcased vintage and pre-war cards outperforming modern and ultra-modern ones, further solidifying their dominance in the collectible market for the year, as per Altan’s report.
Among the different segments of sports collectibles, football, soccer, racing, and basketball cards experienced the most significant price declines. Altan’s report specifically pointed out that football cards, especially high-end ones featuring quarterbacks, both young and veteran, failed to recover their value. Injuries to popular quarterbacks in the latter half of the season worsened the situation.
Altan Insights also noted a considerable decrease in the top 50 sales at most auction houses between 2022 and 2023. However, the decline was less pronounced in the next tier of sales, indicating a relatively stronger demand in the mid-range market segment.
Key findings from Altan’s comprehensive 41-page report on the fourth quarter and the year as a whole include:
1. A 40% year-over-year drop in the number of six-figure auction sales in the fourth quarter, marking the lowest total in the past three years.
2. In 2023, there were eleven recorded sales of baseball items exceeding $1 million, with eight involving cards or memorabilia of iconic players Babe Ruth and Mickey Mantle, spread across five different auction houses.
3. The disappearance of seven-figure basketball card sales in 2023, contrasting the twelve such sales in 2022. Altan highlighted a lack of demand for high-priced modern patch cards throughout the year.
4. 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.
5. The market for LeBron James and Steph Curry cards across all platforms experienced a decline of over 40% last year, while Michael Jordan and Kobe Bryant cards remained relatively stable.
6. 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.
7. The market for game-worn and game-used memorabilia showed modest growth compared to the previous year, with the top 25 and top 50 sales in this category more than doubling the levels achieved in 2021.
Altan Insights’ comprehensive report offers a detailed perspective on the shifting dynamics within the sports collectible market, shedding light on the fluctuations in different segments and the evolving interests of collectors and investors in this realm.
