Auction Action by Altan Insights: May 24, 2021

This week on Auction Action, the Altan Insights team virtually visits Goldin Auctions to review the results of their Goldin Elite Auction. Note that all Goldin Auction prices include 20% buyers premium. 

Basketball


Asset: 1972 Topps Julius Erving Rookie (PSA 9)

Goldin: $24,000

Otis: $28,440

Review: The 1972 Erving rookie has firmly established itself above the $20K threshold although the overall trend of sales has not been positive. The Otis card was initially offered on February 26th at a $15,800 market cap and has since increased 80% to its current valuation. Erving may have peaked earlier this year however, as a PSA 9’s sold for $57,600 at Heritage in February and then for the same price at Goldin in March. 

 

Asset: 2003-04 Topps LeBron James Chrome Refractor (BGS 10)

Goldin: $135,300

Otis (PSA 10): $110,323.50

Rally (BGS 10): $150,000

Review: The Otis card (PSA 10) was initially offered on October 13th at a $73,500 market cap and has since increased its valuation by 50.10%. The rookie King James has dipped 24.95% over the past month and now sits well under the Goldin sale price. Rally has a BGS 10 that IPO’d at a $100,000 market cap and gained 50% during its trading session on March 18th.


Asset: 2007-08 Topps Chrome Refractor Kevin Durant Rookie Card /1499 (PSA 10)

Goldin: $40,590

Collectable: $36,250

Otis: $30,790

Review: As the NBA playoffs tipped-off this weekend, Goldin sold a Durant rookie at a premium compared to similar offerings at both Collectable and Otis. The result could reverse the trading trend on both platforms. Collectable’s card has gained 190% overall but slipped -3% since April while the Otis example is up 21% overall but has dipped -16.21% in 30 days. 




Asset: 1986-87 Fleer Basketball Unopened Wax Box

Goldin: $196,800

Collectable: $198,450

Rally: $214,500

Review: The Collectable box is still trading positively, up 8% since IPO. 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. The Rally box is expected to return to their trading floor on June 15th. 



Asset: 2003-04 Topps Chrome Sealed Wax Box

Goldin: $31,980

Otis: $54,000

Review: The Otis box IPO’d on April 5th and is 61% funded. Goldin’s sale is a positive trend compared to an auction earlier this month at Heritage. The Heritage box sold for $26,400 May 8th for $26,400. The overall trend this year is negative though, as the auction house sold two boxes in February for $48,000. 



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

Goldin: $344,400

Collectable: $330,000

Rally (Exit): $72,000

Review: The 1986 Fleer Michael Jordan Rookie Card returned to the auction block this week at Goldin and sold for a slight premium compared to a sale at Heritage earlier this month. Heritage sold their card for $336,000 while the Goldin card eclipsed $340K. The Collectable card is up 230% overall but is down -13.2% over the last thirty days and -8.3% over the last week. 


Asset: 1986-87 Fleer Basketball Complete Set (All PSA 10s)

Goldin: $461,250

Otis: $550,160

Review: Comps for complete Fleer sets consisting of all PSA 10’s are rare and this sale should give investors a new benchmark. The Otis set IPO’d in December at a $230,000 market cap and has gained 139.2% on their secondary market. Even though the Goldin sale represents a discount to their current valuation, it is a significant premium to the Otis IPO valuation. 


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

Goldin: $18,450

Rally: $28,000

Review: Goldin sold a PSA 10 for $28,800 on March 20th which was in-line with other recent comps. This sale is a discount and potential outlier as it is the first PSA 10 to sell for under $20,000 this year.


Asset: 1980-81 Topps Scoring Leader (PSA 10)

Goldin: $533,500

Collectable (Exit): $720,000*

Review: Collectable investors accepted a buyout for a PSA 10 of their Scoring Leader card for $720,000 on January 27th. The buyout resulted in a 101% ROI and represents a significant premium to the sale of this PSA 10 example. 


Asset: 1980-81 Topps Scoring Leader (PSA 8)

Goldin: $7,380

Collectable (2 cards): $27,500

Review: Topps basketball cards did not have their best auction this weekend at Goldin so future auctions should be tracked by investors to determine if the results are outliers or an overall trend. Collectable has a basket that includes two PSA 8’s from the Scoring Leaders set that was filled by 190 investors and is scheduled to trade on May 27th. 


Asset: 1969-70 Topps Lew Alcindor/ Kareem Abdul-Jabbar Rookie Card (PSA 9)

Goldin: $233,700

Rally (PSA 8): $50,000

Review: The results from this sale were disappointing compared to the $344,400 price hit at Goldin on April 7th. Investors should continue to monitor future sales to see if this was an outlier. The valuation difference between the Goldin card and the Rally example is between 5.5x - 6.6x. 

Asset: 1996 Michael Jordan Game-Worn Air Jordan 11’s “Concord”

Goldin: $93,480

Rally: $30,000

Review: The sneaker market shined at Goldin over the weekend as these Jordan’s sold for a 3x premium to the Rally market cap. The Rally 11’s were offered in January at a $48,000 market cap but fell during their first trading session, dropping -37.5%. Both the Rally sneakers and Goldin examples are dual signed by MJ and were used during 1996 regular-season games. Heritage Auctions sold a dual-signed pair on May 9th for $38,400. 



Boxing


Asset: 1960 Hemmets Journal Cassius Clay (Muhammad Ali) Rookie (PSA 8)

Goldin: $55,350

Rally (PSA 9): $235,000

Review: Heritage sold a PSA 8 for $49,200 on May 6th which demonstrates a positive trend for the Hemmets journal set. Rally’s card is currently 79% funded with 1,320 investors. The Rally card is a PSA 9 which usually sell for a 2.5x - 3x premium versus PSA 8 versions.



Baseball


Asset: 1933 Goudey Babe Ruth (SGC 8)

Goldin: $148,830

Collectable: $136,000

Review: Goldin returned an impressive return for this Ruth card, selling it for $148,830- the second highest price for any Goudey Ruth at the acclaimed auction house. The Collectable card has 663 investors at a $136,000 market cap with $20,000 retained by the previous owner. 


Asset: 1955 Topps Roberto Clemente (PSA 8)

Goldin: $59,040

Collectable: $79,000

Rally (SGC 8): $39,000

Review: The Goldin sale fell short of the $66,000 price realized at Heritage on May 8. Collectable’s card IPO’d last week while the Rally version, graded SGC 8, IPO’d for $38,000. We find 1950-60 baseball card vintages graded by SGC carry a 25-30% discount to PSA versions on the open market. The Rally example is scheduled to return to their secondary market on May 26th. 




Asset: 2009 Bowman Draft Picks Chrome Prospect Refractors Mike Trout Signed Rookie Card (BGS 9.5/Auto 10)

Goldin: $36,900

Otis: $40,120.80

Review: While the overall make-up of the subgrades differed, the two Trout’s at Goldin and the Otis offering all contained a 10, two 9.5’s and a 9. The two Goldin cards both ultimately sold for $36,900. 


Otis: 

Centering- 9.5

Corners- 9

Edges- 10

Surface- 9.5


Goldin Lot #364:

Centering- 9.5

Corners- 9.5

Edges- 10

Surface- 9


Goldin Lot #365:

Centering- 9

Corners- 9.5

Edges- 9.5

Surface- 10


Asset: 2009 Bowman Chrome Draft Prospects Mike Trout X-Fractors Signed Rookie Card (BGS 9.5/Auto 9)

Goldin: $44,280

Rally (Auto 10): $56,000

Review: The Trout result is a promising sign for Rally investors considering the differences between the two cards. The Rally version has a better auto grade- earning a 10 from BGS. The autograph on the card sold by Goldin contained a streak near the ‘M’ that impacted the grade and will likely the final realized price. 


Asset: 1952 Topps Mickey Mantle (PSA 8)

Goldin: $861,000

Collectable: $812,375

Review: Collectable offered their PSA 8 version of this card at a $485,000 market cap and it has since appreciated 71% to a current price of $829,350. The card has experienced a drop in valuation from its peak, when Goldin sold PSA 8’s for $1.6 million in January and $1.3 million in March. On a positive note though, the result is a premium compared to the last Goldin sale, $840,000, which occurred in April.


Asset: 1960 Topps Carl Yastrzemski (PSA 9)

Goldin: $27,060

Collectable (2 Cards): $39,500

Review: Collectable IPO’d a Carl Yastrzemski basket that featured two cards both graded PSA 9 at a market cap of $39,500. Collectable investors had rejected a $55,000 buyout offer in April which is in line with the Goldin result. The last sale for this card at a major auction house was at Heritage on May 8th, when a single card sold for $38,400. 


Asset: 1957 Topps Frank Robinson (PSA 9)

Goldin: $40,590

Collectable (2 Cards): $76,000

Rally (1 Card): $53,000*

Review: The market for vintage baseball cards stayed relatively strong as the Frank Robinson rookie made another positive appearance at Goldin. The sale is a significant discount compared to a sale for $69,000 at Heritage Auction in May. Even with the shortcoming this weekend, the single PSA 9 still sold for a premium versus the Collectable basket. The Rally offering has not gone public yet and is subject to change. 


Asset: 1993 SP Foil #279 Derek Jeter Rookie Card (BGS 9.5)

Goldin: $17,220

Collectable (2 Cards): $99,750

Rally: (1 card): $33,000*

Review: Goldin Auction featured two ‘93 Foil Derek Jeter rookie cards both graded BGS 9.5 but in our preview we covered the card in lot #187 due to subgrades. The Goldin card has the same exact subgrades as the Collectable example which is scheduled to begin trading on June 11th. Rally is scheduled to offer a single BGS 9.5 for $33,000 although the actual market cap is subject to change. 


Asset: 1951 Bowman Mickey Mantle (PSA 8)

Goldin: $399,750

Collectable: $647,000*

Review: Collectable IPO’d a PSA 8 Mantle rookie card last week but pulled the card after the Goldin sale closed. The Goldin result was a steep discount compared to the $600,000 sale that occurred in March for another PSA 8. 


Asset: 1948 Leaf Jackie Robinson Rookie Card (PSA 7)

Goldin: $136,530

Collectable: $377,000

Rally (PSA 8): $375,000

Review: Collectable was scheduled to IPO their card on 5/20 but pulled the offering from the platform prior to the Goldin result. While still an incredible piece of baseball history, the Goldin card is poorly centered, likely impacting the final auction price. Rally IPO’d a PSA 8 graded example of much better visual quality in February. 


Asset: 1968 Topps Nolan Ryan Rookie Card (PSA 9)

Goldin: $62,730

Rally: $70,000

Review: Goldin’s sale over the weekend for the flame-throwing Ryan is a slight discount to the results of a sale earlier this year. The last PSA 9 sold at Goldin struck a final price of $73,000 during their Elite auction in January. 


Football

Asset: 1981 Topps Joe Montana Rookie (PSA 10)

Goldin: $52,890

Collectable: $74,685

Otis: $53,250

Rally: $70,000

Review: The Otis example is currently trading at a $53,520 market cap, representing a 77.5% gain from its IPO. The Rally version IPO’d at a $70,000 market cap which was filled by 1,115 investors and is expected to begin trading this summer. Collectable’s card opened for trading on May 20th at a $65,000 market cap and gained 14.9% in its first week. Investors should monitor future sales of this card to ensure it is not an outlier. Heritage sold a PSA 10 version of this card for $69,000 on May 8th. 




Asset: 2000 Playoff Contenders Football Unopened Hobby Box

Goldin: $34,440

Collectable: $28,481

Review: Although the sale represents a downward trend for hobby boxes on Goldin, the result is a step in the right direction. Goldin sold a sealed box in March for $62,730 and then another in April for $40,590. Heritage then sold two boxes at Heritage on May 8th for $28,400, representing a discount to this Goldin auction. 


Asset: 1984 Topps John Elway Rookie Card (PSA 10)

Goldin: $4,612

Collectable (2 cards): $29,750

Review: Elway rookies at Goldin have struggled in recent auctions. After two PSA 10’s sold for over $10,000 in March, sales have fallen with an April auction ending at $8,400 and this sale nearly half that. Less than 1% of the 21,000+ copies graded from this set have achieved a PSA 10 rating. The Collectable card is currently scheduled to begin trading July 12th. 


Golf

Asset: 2001 SP Authentic Tiger Woods Signed Rookie Card /900 (BGS 9.5/BGS 10)

Goldin: $31,980

Collectable: $36,000

Rally: $25,530

Review: The Goldin and Collectable card are nearly identical- both contain three 9.5’s and a 10. Collectable’s card has a 10 for centering while the Goldin card is for surface. Collectable’s example is scheduled to begin trading on June 18th while the Rally card which carries all 9.5 subgrades except for a 9 on its edges, gained 38% in its first trading session. 


Hockey


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

Goldin: $211,560

Collectable: $221,033

Review: The 1979 O-Pee-Chee Wayne Gretzky (PSA 9) fell short of the last two Goldin sales but still safely established itself above the $200K threshold. On April 3rd, Goldin set a new record for PSA 9 Gretzky’s with a $263,000 sale, followed by a $248,000 purchase on April 24th. Collectable’s card IPO’d at a $100,000 market cap and has gained 229.9% to its current valuation of $221,033. 


Asset: 1979-80 O-Pee-Chee Hockey Unopened Wax Box (48 Packs)

Goldin: $111,930

Rally: $300,000

Review: Unlike the Rally box which features a visible Wayne Gretzky rookie card, the Goldin sealed wax holds more speculation. The sale still demonstrates a positive trend as Goldin sold a sealed wax box for $104,400 in October.


Asset: 1985-86 O-Pee-Chee Mario Lemieux Rookie Card (PSA 10)

Goldin: $55,350

Rally: $87,500

Review: The Goldin result fell short of recent PWCC and Heritage results but is the highest sale recorded for the card at Goldin. 



Soccer



Asset: 2004 Panini Sports Mega Cracks Barca Campeon Lionel Messi Rookie Card (PSA 10)

Goldin: $17,220

Otis: $27,090

Review: Although the Goldin card fell short of the Otis market cap, the sale is a positive result for the set. On April 24th Goldin sold a PSA 10 for $15,600. The Otis card opened for trading on April 26th at a $25,200 market cap and has gained 7.5% in its first month on the secondary market.


Asset: 2004-05 Panini Megacracks Lionel Messi Rookie Card (BGS 9.5)

Goldin: $75,030

Otis: $58,975

Rally: $54,000

Review: The Goldin card had four 9.5 subgrades which would lead to a slightly higher valuation but the sale is still a strong signal for investors regarding the strength of the Messi market. The Otis card was offered at a $33,700 market cap and has gained 80% while trading. Rally’s card IPO’d at a $45,000 market cap and gained 20% in its first trading session. Both the Otis and Rally example carry three 9.5’s and one 9. Rally’s 9 is for edges while the Otis 9 is for corners. 


Asset: 2002-03 Panini Sports Mega Craques Cristiano Ronaldo Rookie Card (PSA 10)

Goldin: $196,800

Otis (BGS 9.5): $56,662

Review: The Otis card has slipped in recent weeks, falling -34% over the last thirty days. We find PSA 10s sell at valuations 1.3 - 2x higher than BGS 9.5’s depending on subgrades. With the Otis example not earning any 10s, we would expect to value their card at a difference of 1.7-2x. This sale is the lowest for a PSA 10 at Goldin this year and is the first to fall under $200,000.


Asset: 1979-80 Panini Calciatori Stickers #312 Diego Maradona Rookie Card (BVG 9.5)

Goldin: $22,140

Rally (PSA 9): $14,000

Review: Based on the subgrades of this BVG 9.5 and previous sales data, we unofficially appraised the Goldin card at a 1.2x-1.5x multiple over a PSA 9. The sale exceeds that comparable and also exceeds the last sale of this exact card. PWCC sold this card for $17,000 on March 27th.


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