Auction Action by Altan Insights: May 22nd, 2021

Today on Auction Action, the Altan Insights team dives into the results of the recent PWCC Premier Auction, which closed on May 20th. The auction was replete with assets relevant to the fractional alternative investment space, and we've got you covered with the breakdown. The results here, in tandem with results from Goldin this evening (expertly previewed by Bradley Calleja), should give fractional investors considerable food for thought as they evaluate their current and prospective holdings.

Basketball

Photo: PWCC

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

PWCC: $456,000

Collectable: $330,000

One of the stronger results in recent months for the card, this example from PWCC was marketed as being in the top 30% of PSA 10s based on eye appeal. As we know, not all 10s are created equal, and superior examples draw superior prices. Case in point, on the very same night, Heritage sold a Fleer Jordan for $300,000, a new low auction price for the year. Collectable’s card is down 13.2% in the last month, but remains up 230% since launch. This card also appears in Goldin Elite.

Photo: PWCC

Asset: 2003 Ultimate Collection Lebron James Rookie (BGS 9.5/Auto 10)

PWCC: $132,000

Collectable (IPO): $181,000

PWCC’s card scores lower in centering and edge subgrades than Collectable’s, which grades at a 10 and 9.5 respectively, though it does feature a lower surface grade. The PWCC price is just above the Spring 2020 sale of a slightly superior example, which sold for $115,200 with Goldin. Collectable’s card launched in late April of this year and begins trading July 8th.

 

Photo: PWCC

Asset: 2009 National Treasures Stephen Curry Rookie Patch Auto (BGS 9.5/Auto 10)

PWCC: $432,000

Collectable (IPO): $497,000

Rally (IPO): $525,000 (70% funded)

PWCC’s card shares the exact same subgrades as the Collectable example, while the Rally example has a 9 surface grade. An example with the same subgrades as Rally’s card sold for $451,200 in January with Goldin, while a PSA 9 sold for $420,000 in March. Collectable’s card IPO’d in late April and begins trading July 1st.

 

Photo: PWCC

Asset: 2003 Topps Chrome Refractor Lebron James Rookie (PSA 10)

PWCC: $120,000

Rally (Pristine BGS 10): $150,000

Collectable (Pristine BGS 10): Coming Soon

Otis (PSA 10): $110,250

The PSA 10 from Otis had an IPO market cap of $73,500 in October, but has since traded up to $110,250, despite being down 25% in the last month. Goldin sold three PSA 10s in April for $135,300, $156,000, and $158,400, while a Pristine 10 went for $216,000. Rally’s example launched in November for $100,000 and traded up 50% in March to its current $150,000 value. This will also be one to watch in Goldin Elite tonight in a BGS Pristine 10.

 

Photo: PWCC

Asset: 2003 SP Authentic Lebron James Rookie Auto (PSA 10)

PWCC: $96,000

Collectable (BGS 9.5/Auto 10): $95,000

Rally (Pristine 10/Auto 10): $230,000 (fully funded)

The most recent sale for a BGS 9.5/Auto 10 came in March with PWCC, at $85,100. Collectable’s example, which launched at $50,000 in September, has traded up 90% since launch but is down 20.8% in the last month. A PSA 10 last sold with Goldin in September for $67,200. This PWCC sale represents a 42% increase on that level.

 

Photo: PWCC

Asset: 2009 Exquisite Collection Stephen Curry Rookie (PSA 10)

PWCC: $39,000

Rally (BGS 9.5/Auto 10): $24,750

The PWCC sale represents a scarce data point for PSA 10s. Rally’s example launched in January of this year at $25,000, but has since traded down slightly to $24,750, which lingers above the April sale of an example with superior centering but lesser corners for $21,600.

 

Photo: PWCC

Asset: 1985 Nike Promo Michael Jordan Rookie (PSA 10)

PWC: $21,000

Rally: $28,000 (fully funded)

Rally’s card launched in early March and was fully funded, with trading yet to begin. Though the Nike Promo card was on fire to start the year, in some cases approaching and breaching $50k, it’s more commonly sold in the mid to low $20s this spring. We'll get another comp via Goldin Elite this weekend.

 

Photo: PWCC

Asset: 1996 Finest Gold Refractor w/ Coating Kobe Bryant Rookie (PSA 10)

PWC: $90,000

Rally (BGS 9.5): $77,000 (IPO Fully Funded)

PWCC’s $90k sale represents a 13% dip from April’s $103,200sale with Golden, but is still a significant improvement on late 2020 prices in the in $65-75k range. A BGS 9.5 example from Goldin sold for $67,200 in late January of this year. Rally’s card IPO’d in late March.

 

Photo: PWCC

Asset: 1996 Topps Chrome Refractor Allen Iverson Rookie (PSA 10)

PWCC: $51,000

Otis: $45,710

Otis launched their card at a $26,120 market cap in February of this year. Since then, it has traded up 75%, including a 34.62% in the last month. Still, it sits below the more recently graded example from PWCC, which is a bit less than 10% below recent results.

 

Photo: PWCC

Asset: 1969 Topps Basketball Lew Alcindor Rookie (PSA 8)

PWCC: $48,000

Rally: $50,000

Rally’s card IPO’d in November 2020 at an initial market cap of $27,500, increasing 82% since to $50k, including a 25% increase in the last trading session in early May. PWCC also had two recent April sales with PWCC-designated above average eye appeal for $80,100 (April 18th) and $61,211 (April 29th), while Goldin had a $54,000 April sale.

 

Photo: PWCC

Asset: 2007 Topps Chrome Refractor Kevin Durant Rookie (PSA 10)

PWCC: $36,000

Otis: $30,739.50

Collectable: $36,250

Otis launched their card in February of this year at a market cap of $25,300, and it has traded up 21.5% since, despite a 19% decline over the last month. Collectable’s card was offered in December at a $12,500 cap, increasing 190%, with a more modest 3% decline in the last month. This card seems to have found a peak this winter and early spring, when sales from $45,000-$55,000 were more common. A pristine 10 sold for $78,000 in this auction with PWCC. Another data point becomes available with Goldin Elite this weekend.

Photo: PWCC

Asset: 2009 Topps Chrome Stephen Curry Rookie (PSA 10)

PWCC: $45,000

Otis: $46,593

Otis initially offered their card in January at a market cap of $31,000. It has since gained 50.3%, though it is down 16.5% over the last month. Stop me if you’ve hard this before, but the card peaked at $85,000 in late February with PWCC and has steadily declined since.

 

Photo: PWCC

Asset: 2003 Topps Chrome Lebron James Rookie (BGS Pristine 10)

PWCC: $30,000

Collectable: Coming Soon

The PWCC sale represents a significant decline from March sales of $73k and $69k from Goldin, as well as a $65k February sale from PWCC.

 

Photo: PWCC

Asset: 1980 Topps Basketball Larry Bird & Magic Johnson Rookie (PSA 9)

PWCC: $33,000

Rally: $40,000 (not yet launched)

Another above-average eye-appeal card from PWCC, this sale continues a downward trend for the trio, which peaked in late January at $67k and has been slowly and steadily sliding since.

Football

Photo: PWCC

Asset: 2003 SP Authentic Tom Brady Rookie (PSA 10)

PWCC: $114,000

Collectable: $149,725

Otis: $131,970

Both SP Authentic Brady cards have served fractional shareholders well, with the Otis card up 149% since launch in January and the Collectable card up 165% since its December IPO. Other recent sales have been stronger than the PWCC result, with Heritage selling a PSA 10 for $144,000 in early May. Rally has a Pristine 10 set to debut in the coming weeks, with a $325,000 market cap. Most recently, Goldin sold one of these in April for $312,000. A BGS 9.5 sold in this auction for $51,000.

 

Photo: PWCC

Asset: 1976 Topps Football Walter Payton Rookie Card (PSA 10)

PWCC: $84,000

Rally: $65,000 (Fully Funded IPO)

PWCC marketed their sale as an above-average eye appeal example, meaning top 30%. While the sale is well below the $124k March sale with Goldin, it lands neatly above two sales, one late January, one early February for $76k and $80k respectively.

 

Photo: PWCC

Asset: 1981 Topps Football Joe Montana Rookie (PSA 10)

PWCC: $60,000

Rally: $70,000 (Fully Funded IPO)

Collectable: $74,685

While Rally’s example just recently launched, Collectable’s just recently began trading, returning 14.9% since IPO. PWCC’s sale was another above-average eye appeal example, but the hammer represents a decline from early 2021 prices breaching $80,000, and more recent sales in the mid to low $70,000s. Heritage sold a PSA 10 in early May for $69,000. Another data point will be notched this weekend with Goldin Elite.

Photo: PWCC

Asset: 2000 Playoff Contenders Tom Brady RC Auto (BGS 9.5/Auto 10)

PWC: $312,000

Rally (BGS 9/Auto 10): $67,312

Collectable (2x – BGS 9/Auto 10): $153,000 ($76,500/card)

Sales of a BGS 9.5 example of this card don’t come along particularly often. The most recent one from PWCC was in January of 2020 for $67,099.99. This sale represents a 365% improvement on that last data point. For reference, around the same time (Dec 2019 to be specific), a BGS 9 sold with PWCC for $24,150.37. It should be noted that the population of the 9.5 is a mere 15, in comparison to 247 for a 9. The frequency with which each comes to auction merits consideration, and certainly the 9 has hit the block far more often over the last two years.

Baseball

Photo: PWCC

Asset: 2009 Bowman Chrome Xfractor Mike Trout Rookie (BGS 9.5/Auto 10)

PWCC: $42,000

Rally: $56,000 (Fully Funded IPO)

This PWCC sale represents a 14% decline from PWCC’s own sale of the same card in January of this year, and it just narrowly bests the $40,100 sale of a slightly superior example in June of last year. Rally’s card launched this spring and should be set to begin trading this summer. This one comes to the auction block with Goldin this weekend, but with a 9 Auto grade.

 

Photo: PWCC

Asset: 1951 Bowman Willie Mays Rookie (PSA 7)

PWCC: $66,000

Collectable: $99,000 (Fully Funded IPO)

Collectable’s example begins trading in early July, and this result comes in well below the 99,000 IPO, which seemed well-validated by a $99,630 March Goldin sale.

 

Photo: PWCC

Asset: 1948 Leaf Jackie Robinson Rookie (PSA 7)

PWCC: $168,000

Collectable: Coming Soon            

Collectable delayed the launch of this card this week, pending results of auctions including this one and an example selling with Goldin. This sale, despite marketed above-average eye appeal,  comes in well below a $392,400 March sale and a $228,000 April sale, both from Goldin. This card has a doubleheader this weekend, as it's another Goldin Elite item.

Photo: PWCC

Asset: 1954 Topps Hank Aaron Rookie Card (PSA 8)

PWCC: $66,000

Collectable (PSA 8.5): $120,000

Rally (PSA 8.5): $240,000 (not yet launched)

While the PWCC card was a PSA 8, and both fractional examples are 8.5s, the result bears highlighting, as it is actually an improvement on a May 6th sale from Heritage at $58,800. That sale was a dip from the March level of $66,000, so to see recovery towards that level is encouraging. Collectable's Aaron card begins trading next week.

Hockey

Photo: PWCC

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

PWCC: $216,000

Collectable: $221,033

Collectable shareholders recently sent a $225,000 buy-out offer packing, though this sale of an above-average eye appeal example does fall short of that offer level. It bears noting that another 9 did sell for $240,000 in early May with Heritage, following two April sales with Goldin of $265k and $248k. Collectable’s card is up 230% since launch. Another 9 comes to the auction block with Goldin, closing tonight.

 

Photo: PWCC

Asset: 1977 O-Pee-Chee Hockey Wax Box

PWCC: $144,000

Rally: $300,000 (Fully Funded IPO)

Both PWCC and Rally’s examples are reviewed and sealed by Baseball Card Exchange, and both are confirmed to have at least one Gretzky rookie at the back of a sealed pack. Prior to Rally’s offering, the highest comp was a $252,000 Heritage sale in December, but the drop-off is fairly sharp to a $104,000 Goldin sale in November and a $114,000 sale with Heritage in December. Neither of those, however, had a confirmed Gretzky. An example without a confirmed Gretzky closes with Goldin tonight.

 

Soccer

Photo: PWCC

Asset: 2004 Panini Sports Mega Cracks La Liga Lionel Messi Rookie (BGS 9.5)

PWCC: $84,000

Rally: $54,000

Otis: $58,975

Both the Otis (corners) and Rally (edges) have 9 subgrades, in comparison to 9.5s across the board for the PWCC asset. The Rally card launched at $45,000 in November, trading up 20% in its late April debut. Otis’s card has gained 75% since its February IPO at $33,700, but lost 37.5% over the last month. Collectable also has this card in a PSA 9, fully funded at $86,000. Another card with consistent 9.5 subgrades closes at Goldin this evening.

 

Golf

Photo: PWCC

Asset: 2001 SP Authentic Golf Tiger Woods Rookie Auto /900 (PSA 10)

PWCC: $48,000

Rally (BGS 9.5/Auto 10): $25,530

Collectable (BGS 9.5/Auto 10): $36,000 (fully funded IPO)

There’s no direct read-through here to the Rally and Collectable examples, as the PWCC example lacks an auto grade. However, just for context, this sale is down substantially from a March sale of the same card and same grade from Goldin for $67,200, as well as an April PWCC sale of $65,100. A direct comp in BGS 9.5/10 condition closes with Goldin this weekend.

 

Pokémon

Photo: PWCC

Asset: 1999 Pokémon Base Set Shadowless 1st Edition Charizard (PSA 10)

PWCC: $240,000

Rally: $350,000 (Fully Funded IPO)

Like many sports cards, the grail Pokémon card saw a peak in the middle of this winter before beginning a decline towards its present levels. A $250,000 eBay sale closed on April 26th, but was immediately followed by the sale of a more recently graded card at just under $350k on April 27th.

Want to get more great insights and access to powerful tools to help guide your investment strategy? Signup for Altan Insights now.

Disclaimer: You understand that by reading Altan Insights, you are not receiving financial advice. No content published here constitutes a recommendation that any particular security, transaction, or investment strategy is suitable for any specific person. You further understand that the author(s) are not advising you personally concerning the nature, potential, value or suitability of any particular security, transaction, or investment strategy. You alone are solely responsible for determining whether an investment, security or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal financial situation. Please speak with a financial advisor to understand if the risks inherent in trading are appropriate for you. Trade at your own risk.