The sports collectible market took a hit in 2023, as reported by Altan Insights, a company that closely monitors sales across various collectible markets. Drawing data from Card Ladder, Altan Insights observed a downward trend that began approximately 18 months ago and continued through the entirety of 2023.
According to Altan’s analysis, ultra-modern cards, which include those issued from 2009 to the present, experienced a significant decrease in sales by 34.8% compared to the previous year. Modern cards, spanning from 1984 to 2008, also saw a decline in sales, dropping by 30.8%. Vintage cards, although affected by the overall market slump, performed somewhat better than their modern and ultra-modern counterparts.
The fourth quarter of 2023 witnessed vintage and pre-war cards outperforming modern and ultra-modern cards, further solidifying their advantage in the sports collectible market for the entire year, as highlighted in Altan’s report.
Among the specific segments affected, football, soccer, racing, and basketball cards experienced the most substantial price declines. Altan noted that football, particularly high-end cards of quarterbacks, both young and seasoned, failed to regain their value. The situation was exacerbated by injuries to popular quarterbacks during the latter half of the season.
Furthermore, Altan’s report pointed out a notable dip in the top 50 sales at most auction houses from 2022 to 2023. However, the decline was comparatively less pronounced in the next tier of sales, suggesting a slightly stronger demand in the mid-range market segment.
Key findings from Altan’s comprehensive 41-page report on the fourth quarter and the year 2023 include:
1. A 40% year-over-year and 27% quarter-over-quarter drop in the number of six-figure auction sales in Q4, 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 legendary players such as Babe Ruth and Mickey Mantle. These sales were spread across five different auction houses.
3. In a stark contrast to 2022, where there were twelve sales of basketball cards exceeding one million dollars, the year 2023 saw none. Altan noted a disappearance in the demand for modern patch cards at high price points, which persisted 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 significant drop of over 40% in 2023. However, cards of Michael Jordan and Kobe Bryant 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. 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.
The comprehensive report by Altan Insights paints a detailed picture of the shifting dynamics in the sports collectible market, highlighting the fluctuations in different segments and the evolving interests of collectors and investors within this domain. As the market continues to evolve, collectors and investors will need to adapt to these changing trends and maximize their investments accordingly.
