Auction Action by Altan Insights: October 13, 2021
Memory Lane closed an impressive auction over the weekend that featured sixteen different lots selling for at least $100,000. We review the results relevant to alternative investors and compare the prices to current market caps. Note that all auction results include a 20% buyer’s premium.
Memory Lane: $89,398.80
Review: Collectable’s card is scheduled to begin trading on October 14th at a $98,000 market cap. The Memory Lane sale is the lowest realized price for a PSA 8 since the spring after multiple results surpassed $100,000 over the summer. Investors should continue to follow upcoming sales to see if a rebound in price is in store for this iconic 1950s Mantle.
Review: The Bowman version of 1952 Mantle cards sold for a new record with a final hammer price of $46,111.20. The result exceeded the previous record for the card of $34,440. Collectable’s copy is currently trading 186.7% higher than its IPO price of $15,000.
Memory Lane: $28,029.60
Collectable (2 cards): $36,350
Review: One Mantle that displayed strong appreciation from its June sale was the 1968 Topps. The June result settled at $17,118 and the auction house sold another PSA 9 example for $28,029.60. Collectable has a basket of 1968 Topps Mantle’s that opened for trading on July 26th but as of October 13th has remained unchanged. The price per card for the Collectable basket sits at $18,175, well below the price of the single example sold by Memory Lane.
Memory Lane: $55,374.00
Review: Collectable’s 1960 Mantle has been on fire in recent trading sessions, gaining 34.8% over the last week. The Memory Lane sale is similar to a result at the peak of the Spring card market when a PSA 9 sold for $57,600 in April. There are only 29 PSA 9 examples in circulation and the Collectable card is up 55% overall since IPO.
Memory Lane: $81,949.20
Review: Rally’s card IPO’d in December at a $35,000 market cap and the offering has climbed 114.29% overall. Memory Lanes result established a new record for any PSA 8 example- the previous record was $81,000 sold by REA on August 15th.
Memory Lane: $46,111.20
Review: The Memory Lane sale established a new record for any PSA 8 of this 1950 Bowman Robinson. Previous sale included a range of $26,400-$32,221 but 25 bids pushed this card to a price above $40,000. Collectable’s card IPO’d for $32,000 and is scheduled to begin trading on October 18th.
Asset: 1948 Leaf #79 Jackie Robinson Rookie
Memory Lane (PSA 4.5): $46,111.20
Memory Lane (PSA 3.5): $12,860.40
Collectable (PSA 3.5/PWCC-E): $38,000
Review: This result gives an excellent example of the importance of eye appeal in grading. The Collectable card displays significantly stronger centering and surface traits than both the PSA 4.5 and 3.5’s sold by Memory Lane and received a PWCC-E eye appeal grade. This places the Collectable card in the top 15% of all graded examples and according to PWCC, cards with a PWCC-E designation can sell for 160% more than the average market price.
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.