The sports collectible market saw a significant downturn in 2023, according to a report by Altan Insights, a company that monitors sales across various collectible markets. Using data from Card Ladder, Altan Insights observed a downward trend that began about 18 months ago and continued throughout the year.
One of the key findings of the report was the decline in sales for ultra-modern cards, those issued from 2009 to the present, which dropped by 34.8% from the previous year. Modern cards, defined as those from 1984 to 2008, also saw a decrease in sales, with a drop of 30.8%. Vintage cards, however, fared somewhat better than their modern and ultra-modern counterparts, experiencing a decline in sales but not as steep.
In the fourth quarter of 2023, vintage and pre-war cards outperformed modern and ultra-modern ones, widening their advantage in the collectible market for the year, as noted in Altan’s report.
The report also highlighted specific segments that witnessed the most substantial price declines, including football, soccer, racing, and basketball cards. Football, especially high-end cards of quarterbacks, both young and veteran, failed to recover their value, with injuries to popular quarterbacks in the latter half of the season exacerbating the situation.
Altan Insights also brought attention to a considerable dip 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.
Some key findings from the comprehensive 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 of 2023, marking the lowest total in the past three years. The report also noted that in 2023, there were eleven recorded sales of baseball items exceeding $1 million, with eight involving cards or memorabilia of Babe Ruth and Mickey Mantle, spread across five different auction houses.
Another notable contrast was the disappearance of seven-figure basketball card sales in 2023, which were prevalent in 2022. Altan Insights pointed out a disappearance in the demand for modern patch cards at high price points, which did not return 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, whereas 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 from 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 picture of the shifting dynamics in the sports collectible market. It highlights the fluctuations in different segments, such as the decline in sales for ultra-modern and modern cards, and the evolving interests of collectors and investors in this domain.