Auction Action by Altan Insights: August 24, 2021

PWCC closed their August Premier Auction and struck prices for multiple lots that featured items relevant to alternative asset investors. The auction was highlighted by two Tom Brady Playoff Contender cards selling for over $1 million with a PSA 10 example hammering at $2.88 million. Three of the top six highest sales were Patrick Mahomes cards with an RPA /5 selling for $630,000. 

Baseball

Asset: 2009 Bowman Chrome Refractor Mike Trout Rookie Card /500 (BGS 10)

PWCC: $72,000

Otis (BGS 9.5): $36,640

Review: In July, PWCC sold a PSA 10 for $58,100. At that time, the Otis example was trading for $34,350. Today, the market cap for the Otis card is $36,640 as the Trout refractor has climbed 6.67% over the last month. The Otis card is in a lower grade and we find BGS 9.5’s to sell between 1.5x - 2x lower than BGS 10’s depending on subgrades.

Asset: 2009 Bowman Chrome Xfractor Mike Trout Rookie /225 (BGS 9.5)

PWCC: $36,000

Rally: $56,000

Review: Rally’s example IPO’d in March and has remained at its offering market cap through its first trading session. Both the Rally card and PWCC example carry subgrades of three 9.5’s and one 9. The PWCC card has a 9 for centering while Rally's 9 is for edges. Prices for this /225 Trout peaked above $55,000 in April but the card has stalled in the $35,000-$45,000 range this summer. The superstar outfielder has dealt with injuries over his last two seasons and investors should monitor sales as he works towards a return later this year. 

Asset: 1955 Topps Roberto Clemente (PSA 8)

PWCC: $90,000

Collectable: $80,975

Review: PWCC’s card carries an eye appeal grade of PWCC-A which places the card in the top 30% of the overall population. Collectable’s Clemente is up 2.5% overall but has dropped -18% over the last week. 

Football

Asset: 2017 National Treasures Patrick Mahomes RPA /99 (BGS 8.5)

PWCC: $84,000

Collectable: $132,000

Review: The PWCC sale matches the same price the auction house sold another BGS 8.5 for in July. The Mahomes RPA sold at this auction carried worse subgrades though, which represents a positive move for the card overall. Collectable’s card has better subgrades than the PWCC example and also a more appealing patch. PWCC’s RPA has limited yellow threading visible while the Collectable copy has an entire corner of yellow. Collectable’s card has dropped -17.5% overall but is up 37.5% over the last month. 

Asset: 2000 SP Authentic Tom Brady Rookie Card (PSA 10)

PWCC: $240,000

Collectable (PSA 10): $146,900

Otis (PSA 10): $68,900

Review: PWCC sold a PSA 10 example of this Tom Brady rookie for $96,000 at their July event. The SP Authentic has been trending positively on both Collectable and Otis as the 2021 NFL season draws closer. Collectable’s card is up 160% overall and has climbed 62.5% over the last month. The Otis example has added 73.9% to its market cap since IPO and is up 33.77% over the last 30 days. 

Asset: 2000 Playoff Contenders Hobby Box (Sealed)

PWCC: $36,000

Collectable: $21,041

Review: PWCC sold a 2000 Playoff Contenders Hobby Box for $24,000 in July, representing a significant discount to their most recent result. Collectable’s sealed wax has followed the upward trend as the box is up 39% over the last month and 42.5% overall. The box gains the majority of its value from a potential Tom Brady Playoff Contender. PWCC sold two Playoff Contenders at this event for over $1 million each.

Basketball

Asset: 1986 Fleer Michael Jordan Rookie Card (PSA 10)

PWCC: $408,000

Collectable: $390,000

Rally (Exit): $72,000

Review: Sales for the acclaimed MJ rookie have rebounded this summer after numerous results fell under $350,000. The Collectable card is up 290% overall and has added 9.9% to its market cap over the last week. Both the Collectable card and PWCC example have strong eye appeal and compared to some PSA 10’s, have much better centering and edges.

Asset: 2003 Topps Chrome Refractor LeBron James Rookie (BGS 10) 

PWCC: $180,000

Rally: $105,000

Review: There are 31 BGS 10 examples of this LeBron rookie refractor and PWCC sold an example for $180,000 while Rally carries another copy at a $105,000 market cap. Sales for BGS 10 cards have seemingly rebounded over the last few months. Goldin sold a BGS 10 in May for $135,300 and PWCC has eclipsed that amount with their last two results. The Rally card has the same subgrades as the PWCC sale and has gained 5% overall since IPO. Rally’s card is scheduled to trade this week on August 26.

Asset: 2003 Topps Chrome Black Refractor LeBron James Rookie (BGS 10) 

PWCC: $96,000

Collectable: $129,350

Review: Collectable’s card carries better subgrades than the PWCC example as the fractional copy has all 9.5’s. PWCC’s card has a 9 for centering which is usually the most impactful subgrade category to a card's value. The Collectable LeBron has been trending positively as of late with a one-month return of 4.7% and a one-week return of 20.5%. The overall return of the card since IPO is -0.5%. 

Asset: 1987 Fleer Michael Jordan (PSA 10)

PWCC: $22,322

Rally: 50,000

Otis: $39,400

Review: PWCC sold a PSA 10 example for $22,322 in July so this sale represents a slight appreciation from the previous result. The Jordan at Otis started trading on August 17th and is currently priced at its IPO market cap. Rally’s second-year MJ example sold out to 885 investors and is expected to begin trading on their platform within the coming months. 

Asset: 2013 Immaculate Premium Gold Giannis RPA (BGS 9)

PWCC: $60,000

Collectable: $48,263

Review: One of the first sales of a BGS 9 example for this RPA since Giannis won the 2021 NBA Finals and was subsequently named MVP. The ‘Greek Freak’ has slipped on Collectable, dropping -2.5% overall but the Collectable card carries the same subgrades to this PWCC sale which sold for an $11,737 premium.

Asset: https://premierauction.pwccmarketplace.com/premier-auction/2902007 Topps Chrome Refractor Kevin Durant Rookie Card (PSA 10)

PWCC: $24,000

Collectable: $21,875

Otis: $25,300

Review: Both the Collectable and Otis Durant cards have dropped over the last month. The Otis example is down -9.09% while Collectable’s has fallen -16.7%. The Collectable example is up 75% since IPO and the Otis copy is unchanged. PWCC’s sale is a premium to both fractional market caps and represents a strong sale for a card that has settled in the low $20,000 range in recent weeks.

Hockey

Asset: 1979 O-Pee-Chee Wayne Gretzky Rookie Card (PSA 9)

PWCC: $204,000

Collectable: $127,300

Review: Although the two Gretzky’s are graded the same, to comp Collectable’s copy exactly to PWCC’s fails to do either card justice. The 1979 O-Pee-Chee is known for extremes in its grading as the saws used in Canada to cut the cards from their sheets were infamously dull and created poor edges and damaged corners. The PWCC card received a PWCC-E eye appeal grade which places it in the top 15% of the overall graded population per the auction house. Collectable’s card is one of the best examples we’ve seen as well, with relatively clean edges and complete corners. The Collectable card does have some flaws in centering and coloration which leads to a lower valuation multiple. The Oilers logo is poorly centered and there is some bleeding with the image into the background of the card. Collectable’s Gretzky has gained 90% overall since IPO but has slipped -25.5% over the last month.

Pokémon

Asset: 1995 Pokémon Japanese Topsun Factory Sealed Box

PWCC: $16,200

Rally: $43,000

Review: This sealed Topsun box was an outlier at the PWCC Premium Auction which featured primarily sports cards. It’s the first sale to slip under $20,000 this year and investors should monitor upcoming results to see if the result is the start of a trend or just poor timing at an event not meant for pocket monsters. The Rally example IPO’d for $60,000 and has dropped -28% on their secondary market overall. 

Additional Sales to Follow:

2005-06 SP Authentic Michael Jordan/LeBron James Sign of the Times Dual Auto (BGS 9): $58,800

2017 National Treasures Patrick Mahomes Black /5 RPA (BGS 9): $630,000

2003 Exquisite Collection Patches Kobe Bryant Patch Auto /100 (BGS 8.5): $27,600

Note that all auction prices include 20% buyer’s premium.

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