Join Altan Insights as we highlight trading activity across the various alternative marketplaces with a combination of charts and penned analysis to help investors track trends and price movements that impact their portfolio.
The average return on Rally improved week over week and closed in the green as the platform finished with a 0.49% weekly ROI across 312 traded assets. For the fifth straight week, the median return was unchanged.
Setting the pace this week was the 1988 BMW M3 which climbed 109.75% while the 1985 Ferrari Testarossa gained 64.2% to close in second. There were actually four cars that finished this week among the top six best-performing assets on Rally and three were Ferrari's. The reason for the inflow into the Italian supercars is likely correlated with the buyout offer delivered to investors this week. On Thursday, Rally announced that a $330,000 buyout offer had been made for the 1989 Ferrari Testarossa. The offer represents an 83% return over the IPO price and a 195% return from the last traded value. The other Testarossa trading on Rally is now up 7.58% since IPO after its gains this week and the car carries a $177,500 market cap.
Assets from 1997 did not have their best week as three of the five worst-performing offerings were from that year. The 1997 Playstation Final Fantasy VII dropped -46.55% while the 197 Panini "The Rock" Rookie Card slipped -36.76%. Additionally, the 1997 Skybox Kobe Bryant Jambalaya Rookie Card fell -32.63%.
Cars were one of the worst-performing asset classes last week but the best-performing this week. The sector dropped -2.87% on average last week but rebounded for a 7.37% return this week. Memorabilia moved 5.19% higher on average while sports memorabilia gained 4.07%. NFTs fell -7.19% this week while luxury lost -3.12% and bounced bounced -2.21% lower.
After six consecutive weeks of positive weekly average returns, performance turned negative this week on Collectable as both sports memorabilia and cards experienced price drops. Last week, the average return on the platform was 2.27% and performance was guided by sports memorabilia which climbed 4.42%. This week, game worn and game used fell -4.95% while sports cards crumbled -3.28% on average. Sports memorabilia returns had outpaced cards for three straight weeks but this week, it was cardboard that beat out memorabilia albeit the fact that both asset classes delivered negative averages.
For the second straight week, performance on Collectable was led by a high school basketball jersey. Last week, the 2005-06 Kevin Durant High School Jersey climbed 107.55% to close as the best-performing offering and this week, it was Wilt Chamberlain's 1956 High School Jersey that set the pace. Wilt's high school jersey gained 33.6% this week and the offering is now up 167.2% on Collectable's secondary market since IPO. Last May, investors declined a $632,000 buyout offer for the jersey and today, the asset is trading at an $844,352 market cap. Two baseball cards rounded-out the top performers this week as the 1956 Topps Roberto Clemente Basket gained 24.86% and the 1960 Topps Willie Mays Card climbed 16.95%. Last week, ten different assets gained at least 16.4% on Collectable's secondary market but this week, only three offerings gained that amount or more.
Sports memorabilia and sneakers struggled this week as the LeBron James AZG Rookie Game Worn Sneakers fell -41.4% and the Chris Bosh Air Force 25's tumbled -36.96%. Last week, no offering fell more than -16.38% but this week, twelve different assets dropped by that amount or more. In total, 180 different assets traded the entire week on Collectable with an average return of -3.67% and a median ROI of -1.30%. Tennis was the worst-performing sport with a -13.38% while boxing fell -6.69% and basketball bounced -5.95%. Wrestling was the only sport to close the week positively as WWE/WWF-related assets gained 0.57% on average.
For the second straight week, the average return on Otis was positive as the platform returned 2.14% across 116 traded offerings. Last week, the platform closed with a 2.05% ROI and for the fifth straight week, the median return was 0%. Liquidity has continued to be an issue as performance on the platform is still driven by limited transactions and single shares impacting valuations.
Leading this week was the Kawhi Leonard RPA which gained 99.75% as a single share traded on April 18th. In 2022, only three total shares have traded for this offering and the total return since IPO for the 2012 National Treasures card is -20.18%. Closing in second was the First Edition Raichu Holo Card which gained 94.12%. The Raichu is still down -44.82% since IPO although liquidity for the card has increased relative to the rest of the Otis platform. In April, there have been 91 shares transacted which while still a lower than expected number, is significantly higher that assets such as the Kawhi RPA. Closing in third was the NES Metroid which gained 36.36% and in fourth was the 1985 Air Jordan 1 Collection II which climbed 30%.
While the First Edition Raichu gained 94.12%, the First Edition Mewtwo fell -48.72% to close as the worst-performing offering this week. The second worst-performing offering was the the sealed Contra video game which dropped -28.57% while the 1985 Air Jordan Red Metallic Sneakers rounded-out the bottom three with a -23.47% return. Card games gained 7.12% on average to lead all sectors while sports cards climbed 5.21% to close in second. Sports memorabilia moved 5.01% higher in in total, seven of the eleven asset classes trading on Otis return positive averages. Books, NFTs, and memorabilia were the only sectors to close in the red and only books, which is represented by a single offering, dropped more than -2%.
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