The sports collectible market took a hit in 2023, experiencing a notable decline, according to a report by Altan Insights. Altan Insights, a company that monitors sales across various collectible markets, analyzed data from Card Ladder to observe a downward trend that began approximately 18 months ago and persisted throughout 2023.
The report revealed a significant decrease in sales for ultra-modern cards, which are cards issued from 2009 to the present. These cards saw a staggering 34.8% drop in sales compared to the previous year. Modern cards, defined as those from 1984 to 2008, also experienced a decline in sales, with a 30.8% decrease. Vintage cards, while still experiencing a decline, fared relatively better than their modern and ultra-modern counterparts.
Interestingly, in the fourth quarter of 2023, vintage and pre-war cards outperformed modern and ultra-modern cards, further widening their advantage in the collectible market for the year.
The report highlighted specific segments, such as football, soccer, racing, and basketball cards, which saw the most substantial price declines. Football, particularly high-end cards of quarterbacks, both young and veteran, failed to retain their value. Injuries to popular quarterbacks in the latter half of the season further exacerbated the situation.
Altan Insights also noted a significant drop in the top 50 sales at most auction houses from 2022 to 2023. However, the decline was less pronounced in the next tier of sales, suggesting slightly stronger demand in the mid-range market segment.
Key findings from the comprehensive report on the fourth quarter and the year 2023 include a 40% year-over-year and 27% quarter-over-quarter decrease in the number of six-figure auction sales in Q4, marking the lowest total in the past three years.
In 2023, there were eleven recorded sales of baseball items exceeding $1 million, with eight involving cards or memorabilia of legendary players Babe Ruth and Mickey Mantle. These sales were spread across five different auction houses.
A stark contrast was observed in the basketball card market. In 2022, there were twelve seven-figure basketball card sales, while in 2023, there were none. Altan Insights noted a disappearance in the demand for modern patch cards at high price points, which did not return throughout the year.
The list of 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.
LeBron James and Steph Curry cards across all platforms experienced a market dip of 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’ comprehensive report provides a detailed overview of the shifting dynamics in the sports collectible market, highlighting fluctuations in different segments and the evolving interests of collectors and investors in this domain.
