Sports memorabilia aren’t your dad’s collectibles anymore

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The collectibles market has grown tremendously since the days of trading cards and sports memorabilia with your friends back home.

Today, with online auction and e-commerce sites, collectibles have become big business as the global market was valued at $412 billion in 2021 and is expected to grow to $692.4 billion. 2032, according to a study by Market Decipher.

Ross Hoffman, CEO of Goldin, a leader in trading cards, collectibles and memorabilia, told FOX Business that more people are recognizing collectibles as a tradable asset.

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“So there might be a guy or a girl who was a [Jacksonville] Jaguar or [Philadelphia] Eagles fan as kids, and now they have disposable income, and they can invest in something they never could afford before,” Hoffman said. “It gives them qualitative value on the nostalgia side, but it’s also a tradable asset and more. and more people who recognize it. So we think it’s still growing.”

Sports mural at Goldin’s office in Runnemede, New Jersey. (Golden)

Hoffman said the industry has grown a lot since people were forced to stay home during the coronavirus pandemic, but they also have data going back to 2010 showing the space has grown tremendously. It also continues to grow.

Hoffman said a younger demographic between the ages of 21 and 35 is getting involved in sports collectibles due to the explosive growth in modern card collecting, as well as NFTs.

“One is the explosive growth of modern card collecting. You have to imagine most of the people buying most cards are younger and some of those prices are huge,” he said. “The second is actually NFT collectors, we consider that widens the opening for people who might want to come in and own a physical asset of something. But a lot of people who start out with NFTs actually come in and say, ‘ OK, I actually want something and I have it in my house now’, and they end up coming to our site.”

Amid a booming collectibles market, Goldin last month announced sales of $330 million for 2021, tripling its total from the previous year. The surge in sales comes as people simply trade baseball cards at home as they can now invest through secure online sites and marketplaces.

“For me, that’s the biggest change is when people suddenly feel like they can do it in a safe way, they’re more comfortable doing it,” Hoffman said, noting that Goldin has a “vault” that will store both physical and digital trading cards. , collectibles and memorabilia.

“Well, when you have an organization that makes hundreds of millions of dollars in sales a year, there’s more trust there,” he added. “Our buyers trust us that the product they are going to buy is genuine, which is a real risk when buying anything online.”

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Ross Hoffman at an event in Dubai, United Arab Emirates on March 6, 2016. (François Nel/Getty Images for Dubai Lynx/Getty Images)

He said the growth in collectibles was also driven by investment passion and nostalgia, as people don’t want to invest in something they can’t smell or touch. He also said people approach collectibles from a financial perspective, believing it to be a rare asset that they can sell more of in the future. The third reason is fantasy sports, which have exploded in popularity.

“These are big, big trends that have grown a lot over the last 15 years and if you ask us, we think they’re going to continue to grow over the next 10 years, and we think that bodes well. for us,” Hoffman mentioned.

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The company, which was acquired by Collectors last year, recently broke auction price records, including $2.46 million for a LeBron James trading card and nearly $500,000 for a jersey worn by Tom Brady.

Last April, a signed Tiger Woods rookie card sold at Goldin Auctions for $369,000. Woods was injured in a car crash in February and returned to the Masters last week for the first time since 2020.

Tiger Woods Goldin card

Last year, a signed Tiger Woods rookie card sold at Goldin Auctions for $369,000. (Golden)

Amid growing interest in collectibles, Goldin has quadrupled its workforce and recruited a number of senior executives from startups and Fortune 500 companies. Goldin has also created a new online marketplace, which is improving the collectors’ experience and ensures that the company does not have to rely on external third-party software.

“Over the past year, the technology we’ve implemented and the hires we’ve made have further solidified Goldin as the most trusted collectibles marketplace,” Hoffman said. “Talented leaders from leading companies have joined Goldin because they see the huge growth potential in this industry. We are committed to continuing to modernize and scale the business by providing next-gen tools and engaging content. that will enhance every collector’s experience.”

Outside of sports, the collectibles market has grown due to the growing popularity of video games and pop culture. Goldin says it recently expanded its auction offerings to include new video games and NFT collectibles categories, while putting more emphasis on pop culture items, like rare comic books.

pokemon goldin superhero comics

A mural depicting superheroes and video games at Goldin’s office in Runnemede, New Jersey. (Golden)

Hoffman said many people who collect sports cards have also played or are passionate about video games.

“It’s just about meeting customers where they are,” he said. “We knew there was more and more excitement around video games.”

Hoffman said he became interested in trading cards and sports memorabilia the same way most kids in the United States do: their mom or dad.

“For some reason people still hang on to this stuff. There are people who moved all over the country…but they kept their cards when they were little and didn’t throw them away,” said Hoffman said. “There’s a reason people didn’t throw this thing away, [and] there’s a reason they hung on to this stuff. It’s a pretty powerful thing and that’s what it was for me.”

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“As a kid who collected, I never threw away anything…that is still with my parents, which I can now share with my son and daughter. Being able to work in this area has been a pleasure”, did he declare. added.

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