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Headlines and Highlights: Week of October 13th

Headlines and Highlights: Week of October 13th
October 13, 2023
Keenan Flack

Altan Insights Releases Q3 Sports Collectibles Market Report

Altan Insights Q3 Sports Report

News: We have just released a 30+ page report detailing this last quarter’s sports collectible market performance. The report covers everything from sport specific performance, to category records, and broader market trends.

Broad Strokes: Six-figure and seven-figure auction sales have declined by 30% and 36% year-over-year, but six-figure sales witnessed a 15% growth from Q2 to Q3. Baseball collectibles saw a substantial increase in its share of the top 100 sales, jumping from 9% to 27%. However, while vintage volumes increased, their values were pressured, with indices falling; concurrently, grading performance was mixed with some companies seeing volume growth and others witnessing a decline.

Check out the full report now! ALTAN INSIGHTS

Rally Acquires Mickey Mantle’s Childhood Home

Rally Road

News: Fractional ownership platform, Rally Road, has announced their acquisition of Mickey Mantle’s childhood home. They purchased the home in Commerce, Oklahoma for $175,000 in June of 2022; the asset will IPO on the platform at some point in the coming months for $329,000. 

Valuation: Rally attributes the valuation premium relative purchase price to a combination of factors including $60k sitting in the asset’s bank account for ongoing expenses, other investments into the property, a premium ascribed to the recently hot market for Mantle memorabilia, and due to “The American Heartland Resort” being developed nearby. If you're in the market for a new home and interested in moving to the sleepy town of Commerce, Oklahoma but don't want to pay Mickey Mantle multiples, there is another 2Bds/1Ba up for sale on Zillow across town listed at $45k; priced at about $46 per square foot, a little less than 10% the Mantle home IPO price of…$489 per square foot. RALLY

Collectible Happenings

Sports Card Investor is building a 14,000 square foot card shop in Atlanta, just outside of the Braves stadium. They hope to raise the bar for collector experience at card shops and will open in early 2024 SPORTSCARDINVESTOR

Panini files a 94 page amended complaint in the Panini vs. Fanatics antitrust action. Paul Lesko breaks it down for us. TWITTER

Roman Abramovich and his ex-wife Dasha Zhukova amassed a $963 million art collection, considered one of the most significant private modern art collections. Information has come to light from a leak at MeritServus, a Cyprus-based offshore financial services provider. THEGUARDIAN

The earliest known edition of Christopher Columbus's letter, announcing his alleged discovery of America and sent to King Ferdinand and Queen Isabella in 1493, is anticipated to sell for $1.5 million at a Christie’s auction. The letter contains numerous inaccuracies and fantasies, with Christie's providing clarification on many of the false claims Columbus made. ARTNET

The Art Institute of Chicago has deaccessioned the 1948 painting "Solitaire" by Balthasar Klossowski de Rola, known as Balthus, which is expected to auction for up to $18 million at Sotheby's in New York. The painting, which had been in the museum's collection for nearly six decades, was sold to acquire new works, marking a significant moment for art collectors due to its long-standing history with the museum. ARTNET

MLB Debut patches to begin appearing in 2023 Topps Chrome Updates set. SPORTSCOLLECTORSDAILY

eBay is updating its listing process for trading cards by eliminating the "new/used" label and introducing specific details about whether a card is graded or ungraded, with additional information requirements for both. This revamp aims to provide buyers with comprehensive information on card conditions, and these changes are already being implemented for current and new listings. SPORTSCOLLECTORSDAILY

Scientists have used X-rays to examine a tiny speck from the Mona Lisa, revealing a unique chemical composition in the oil paint, distinct from Leonardo da Vinci's other works and those of his contemporaries. The discovery of the rare compound, plumbonacrite, suggests Leonardo utilized lead oxide powder in the Mona Lisa, supporting theories that he experimented with techniques while creating the masterpiece. ARTNEWS

Yuga Labs, the company behind Bored Ape Yacht Club and CryptoPunks, is laying off U.S. employees amid a shift to focus more on its Otherside gaming metaverse, citing the need to streamline its projects. This decision comes during a downturn for crypto and Web3 companies, with Yuga Labs witnessing a significant drop in royalty revenue and potentially more layoffs on the horizon. ARTNET

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