The sports collectible market took a hit in 2023, according to a comprehensive report by Altan Insights. The report analyzed sales data from Card Ladder and revealed a downward trend that had been ongoing for the past 18 months.
One of the most significant declines was seen in the sales of ultra-modern cards, which are those issued from 2009 to the present. Sales for these cards dropped by a staggering 34.8% compared to the previous year. Modern cards, which include those from 1984 to 2008, also saw a decrease in sales, dropping by 30.8%. Vintage cards, although experiencing a decline in overall sales, fared slightly better than their modern and ultra-modern counterparts.
The fourth quarter of 2023 saw vintage and pre-war cards outperforming modern and ultra-modern ones, further solidifying their advantage in the collectible market for the year. Altan’s report noted a notable drop in prices for football, soccer, racing, and basketball cards. In particular, high-end football cards, especially those of quarterbacks, failed to recover their value, with injuries to popular quarterbacks exacerbating the situation.
The report also highlighted a significant 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, suggesting a slightly stronger demand in the mid-range market segment.
Key findings from the report include 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 Babe Ruth and Mickey Mantle, spread across five different auction houses.
Another notable contrast from the previous year was the disappearance of seven-figure basketball card sales. In 2022, there were twelve such sales, while in 2023, there were none. Altan attributed this to a lack of demand for modern patch cards at high price points, which remained consistent 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. However, the market for LeBron James and Steph Curry cards across all platforms dipped by over 40% last year, while the values of 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.
While 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 more than doubled the levels achieved in 2021.
Altan Insights’ report provides a comprehensive overview of the shifting dynamics in the sports collectible market. It sheds light on the fluctuating sales in different segments and the changing interests of collectors and investors in this domain. Collectors and enthusiasts now have valuable insights to navigate this evolving market.
