Auction Action by Altan Insights: April 28, 2021
This week on Auction Action, the Altan Insights team virtually visits Goldin Auctions to review their April Premium Card Auction to find offerings comparable to assets listed on the alternative marketplaces.
Note: Prices include 23% buyers’ premium. All market cap data for the various alternative marketplaces is as of 4/27/2021.
Asset: 2003-04 Topps LeBron James Chrome Refractor
Goldin (PSA 10): $162,360
Rally (BGS 10): $150,000
Review: The Otis card was initially offered on October 13th at a $73,500 market cap and has since increased its valuation by 97.50%. Rally has a BGS 10 that IPO’d at a $100,000 market cap and gained 50% during its trading session on March 18th. The Rally example is now trading at a $150,000 valuation.
Asset:1961 Fleer Wilt Chamberlain (PSA 9)
Collectable (Exit): $350,000
Review: On April 6th, investors at Collectable accepted a buyout offer for $350,000. The card IPO’d at a $200,000 market cap with the original owner retaining $99,900 of equity.
Asset: 1986 Fleer Basketball Unopened Wax Box
Review: The box on Collectable is currently trading at a $185,588 market cap. Rally also has a box that last traded on March 23rd. Rally’s box IPO’d at a $165,000 market cap but gained 30% and now has a valuation of $214,500.
Asset:1986 Fleer Michael Jordan Rookie Card (PSA 10)
Rally (Exit): $72,000
Review: The 1986 Fleer Michael Jordan Rookie Card is back on the auction block this week at Goldin. Collectable currently has a PSA 10 that IPO’d at a $100,000 market cap and is now trading on their secondary market at a $376,000 market cap. The card is up 275% overall but in the last month is down 13.7%.
Asset: 1996 Bowman's Best Rookie Atomic Refractor Kobe Bryant Rookie Card
Goldin (PSA 10): $56,580
Otis (BGS 9.5): $58,300
Review: Otis IPO’d a 1996 Bowman's Best Rookie Atomic Refractor Kobe Bryant Rookie Card (BGS 9.5) on March 22nd at a $58,300 market cap. The card is expected to begin trading in the coming weeks.
Asset: 2007 Topps Chrome Refractor Kevin Durant Rookie Card /1499 (PSA 10)
Review: The Otis card IPO’d on February 12th for $25,300 and has gained 50% overall. The Collectable card is currently trading 167.5% above its IPO market cap. Goldin's sale is their second highest ever for a /1499 PSA 10.
Asset: 1969 Kareem Abdul-Jabbar Rookie Card (PSA 8)
Review: Rally IPO’d a 1969 Kareem Abdul-Jabbar Rookie Card (PSA 8) on November 23rd at a $27,500 market cap. The card has since traded on their secondary market and gained 45.91% during a session on March 9th, increasing its valuation to $40,125.
Asset: 2009 UD Exquisite Collection Auto Stephen Curry Rookie Card /225 (BGS 9.5)
Review: The Rally offering IPO’d on January 25th and is expected to begin trading soon. Both the Goldin and Rally cards are graded BGS 9.5 with no examples graded higher.
Asset: 1997 Brown’s Boxing Floyd Mayweather Rookie Card (PSA 10)
Review: The Otis card IPO’d on March 10th for $38,880 and began trading on April 5th. The card is currently trading at its IPO price.
Asset: 1952 Bowman Mickey Mantle (PSA 8)
Review: The Collectable card IPO’d for $15,000 and is up 131.7% overall but has dropped 36.8% from its highs over the last month.
Asset: 1984 Topps John Elway Rookie Cards (PSA 10)
Goldin (One Card): $8,610
Collectable (Two Cards): $29,750
Collectable is currently scheduled to IPO a John Elway basket on April 29th. The offering features two 1984 Topps John Elway Rookie Cards (PSA 10) and has a market cap of $29,750.
Asset: 2001 SP Authentic Golf Autograph Tiger Woods Signed /900 Rookie Card
Goldin (PSA 10): $105,780
Collectable (BGS 9.5): $36,000
Rally (BGS 9.5): $25,530
Review: The Collectable card IPO’d for $36,000 and the Rally card IPO’d for $18,500. Rally’s Tiger has also appeared on their secondary market- gaining 38% in its first session and now has a $25,530 market cap. Although not a direct comp, we have found PSA 10 examples consistently strike valuations between 2 - 2.2x of BGS 9.5 copies. Based on this valuation a reasonable appraisal for a BGS 9.5 would be around $45,000-$55,000. This Goldin sale is a premium to the results of the April 6th auction, which also featured a PSA 10 and struck a final price of $93,480 (including BP).
Asset: 1979 O-Pee-Chee Wayne Gretzky Rookie Card (PSA 9)
Recap: Collectable investors received a buyout offer of $225,000 that was rejected by 63% of shareholders. The Collectable card IPO’d on December 10th for $67,000 and is currently trading at a $221,100 market cap. Goldin sold a copy of the card with the same grade for $265,000 at their March Premium Auction.
Asset: 2003 Panini Futebol Portugal Cristiano Ronaldo Rookie Card (PSA 10)
Otis (BGS 9.5): $86,080
Review: The Otis version IPO’d on February 5th at a $21,520 cap and has increased 300% since it began trading. This is the third consecutive sale over $200,000 at Goldin for PSA 10 versions of this card. We find BGS 9.5 versions of this card usually trail PSA 10’s by a difference of 25-40%. Based on this valuation and a $209,100 sale its reasonable to appraise a BGS 9.5 at a $145,000 market cap.
Asset: 2004 Panini Sports Mega Cracks Barca Campeon Lionel Messi Rookie Card (PSA 10)
Review: The Otis card opened for trading on April 27th. Golding sold a PSA 10 example for $29,520 on April 3rd so investors should continue to follow upcoming sales to see if this Messi rebounds.
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