Trades and Trends by Altan Insights: June 26, 2021
Join Altan Insights as we highlight trading activity across the various alternative marketplaces with a combination of charts and penned analysis to help investors track trends and price movements that impact their portfolio.
In a week that featured big winners and big losers, performance on Rally settled flat overall with an average return of 0.11%. Out of the 15 assets that traded during the week, four gained at least 15% while five fell at least 15%. The 1997 N64 GoldenEye 007 jumped 60% in its first trading session to lead on the platform. Vino starred this week on Rally with the 2003 Domaine de la Romanee-Conti La Tache gaining 25%. The 2003 vintage of La Tache has traded well on the wine market since its release- according to Liv-X the ‘03 La Tache index has gained 386% since 2006. The 1990 Mazda Miata added 18.69% to its market cap this week and luxury was paced by the Hermès Crocodile Birkin which achieved a 15% return during its session.
Sealed wax struggled on Rally with the two worst-performing assets both coming in the form of unopened card boxes. The biggest fall this week was the 1979 O-Pee-Chee Box which slashed its market cap by a third, dropping -33.33%. Card games continued to slip on Rally as the 1995 Pokémon Topsun Sealed Box fell -28.33%. Books have traded well on Rally overall but Ian Fleming’s ‘Goldfinger’ lost a quarter of its market cap. The 1998 Lamborghini Jalpa and 2014 Kobe Bryant Game-Worn Jersey were the only other assets to trade negatively on Rally, falling -16.40% and -15.63% respectively.
Cars, luxury, and memorabilia traded positively on average for the second straight week while sports cards stumbled. Over the last two weeks, sports cards have dropped -22.39% and -16.67% on average. Nine different asset classes were represented on Rally with a total of 15 assets trading.
Assets fell slightly overall on Otis this week with an average return of -0.45%. The best-performing asset was the 52nd edition of Fantastic Four which added 36.6% to its market cap. Katherine Bernhardt’s Sneakers, Computers, Capri Sun jumped 31.67% and Michael Jordan AJ1 Player Exclusives climbed 30%. The AJ1 Player Exclusives have performed well over the last two weeks, gaining 47.65% overall.
After the Brooklyn Nets lost in the Eastern Conference Semifinals, the 2007 Topps Kevin Durant Chrome Rookie Card fell -48.09%. Two Nike sneakers were the second and third worst-performing assets on Otis this week as the SB Dunk High ‘Flom’ and the Nike X Artist Collection dropped -32.67% and -23.68% respectively.
Sports memorabilia gained 10.34% on average followed by comic books which jumped 6.22%. Comic book performance has remained steady over the last two weeks as the asset class gained 6.25% last week.
In a trend that mirrors Rally, sports cards and card games were the two worst-performing asset classes. Sports cards fell -3.98% on average while card games slipped -3.77%.
Note: Only assets that traded for the entire week are included in data calculations and graphs.
The struggles surrounding sports cards continued on Collectable, resulting in an average return of -7.39% and a median return of -2.91%. The 1990 Tiger Woods Tournament-Used Putter was the best performing asset this week, gaining 7.14%. This is a strong recovery for the golf club after it fell -17.55% a week prior. The Milwaukee Bucks are seven wins away from their first NBA title in nearly 50 years and the value of their superstar’s card is beginning to reflect the potential catalyst. The two Giannis cards trading at Collectable both added to their market cap this week as the Immaculate Gold card jumped 6.67% and the National Treasures RPA climbed 1.23%.
The Wrestle Mania Basket, which features cards from Hulk Hogan and Andre the Giant, was the worst-performing asset, dropping 37.07%. Hockey cards struggled to gain traction this week as the rookie cards for Sydney Crosby and Alexander Ovechkin fell -30.56% and -25% respectively. The Ovechkin card opened with a $40,500 market cap but currently trades at a $30,375 valuation. PWCC sold an Ovechkin card from the same set as the Collectable example for $44,988 on June 25th, To further emphasize the disconnect between Ovi’s performance on Collectable versus the public market, PWCC’s card is graded lower than the Collectable copy- the card sold at auction is a BGS 8 compared to the BGS 8.5 at Collectable.
Golf went from worst to first this week on Collectable, turning in the only positive week for any sport on the platform. Last week, golf was the worst-performing sport, dropping -8.78%. Hockey cards fell -19.59% on average, with the losses propelled by the Crosby/Ovechkin firesales. Hockey cards are now down 26.26% over the last two weeks. Sports cards slipped -7.70% on average while sports memorabilia performed slightly better, dipping -6.18%.
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