Trades and Trends by Altan Insights: May 15, 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.
The Collectable trading floor continued to expand with four new offerings- pushing the total traded assets to forty. The 1954 Wilt Chamberlain Jersey was the top performing item this week, gaining 45.71%. The impressive performance correlates with a recent $632,000 buyout offer that was rejected by 75% of investors (share weighted). Prior to the offer, the jersey was trading for $442,400 but the proposed price became a catalyst for the NBA legends’ high school uniform as buyers streamed into the offering hours after the rejection was announced. The jersey increased in valuation by 28.57% on May 12th and added another 13.33% the following day. The 1939 Play Ball Ted Williams card was the second best performing asset, jumping 40% in its first week trading.
The 2004 LeBron James Emblems of Endorsement card was the worst performing asset on Collectable this week, dropping -37.37%. Modern basketball cards struggled in general as 5 of the 10 worst performing assets were basketball cards featuring active players. Emmitt Smith-related assets also lagged as his 1996 jersey fell -33.33% and the two MVP trophies dropped -23.33%.
Golf was the best performing sport, gaining 6.88%. There are currently two golf offerings, the SI Kids Tiger Woods card and the Tiger Woods putter. Football assets fell 8.25% on average while basketball and baseball assets remained relatively flat, returning -0.85% and 1.08% respectively. Sports cards dropped -1.64 on average overall while sports memorabilia performed slightly better, dipping -1.31%. The average return on Collectable this week was -1.55% while the median return was -0.80%.
In the first week of their new trading structure, assets on Rally turned-in another volatile week. The 1985 NES Super Mario Bros. led all assets on the platform and was the top performing asset in the fractional space, jumping 130%. The WATA 9.8 graded asset increased its market cap from $300,000 to $690,000 and is now up 360% from its IPO price. This was the first trading session for the game since investors rejected a buyout offer of $575,000 ($484,505 net) on May 3rd. The rejection was resounding, with 72.5% of investors voting to decline an offer that is now $115,000 less than the current clearing price. The 1969 Topps Kareem Abdul-Jabaar Rookie Card was the second best performing asset on Rally this week, adding 24.61% to its market cap. The PSA 8 is now clearing at a $50,000 price tag which still sits under a recent sale of $55,350 at Goldin Auctions (w/BP) which was highlighted in Auction Action.
Ian Fleming’s, ‘The Spy Who Loved Me’ dropped -39.17% which was the worst performance of the week. Three assets fell at least 25% with the Hermès Faubourg Birkin dipping -38.51%, the Michael Jordan Concord 11’s slipping -37.5% and the 2013 Domaine spilling -26%.
Sports cards were the most traded asset with 4 examples hitting the market and returned 1.41% on average. Three cars traded during the week and the asset class hit the brakes, falling an average of -6.87%. The average ROI this week on Rally for all assets was -2.67% and the median return was -9.93%.
Note: Otis weekly data is calculated from Saturday-Friday.
Tomb of Dracula rose from the dead this week to gain 73.3% and lead all assets on Otis. The comic book was trading at $30/share from April 29th through May 10th but buyers swooped in on May 11th to push the asset to $52/share. The CGC 9.8 graded example has now increased its market cap by 108% from IPO and is trading at a $24,960 valuation. Super Mario Bros 3 and the fnnch-produced artwork ‘Three Cans of LaCroix, and Sneakers’ were the other top performing assets, both gaining 20% on the week. Soccer cards struggled on Otis as the ‘04 Messi rookie and ‘02 Ronaldo rookie were the two worst performing assets, dropping -27.28% and -25% respectively.
Sports cards are still the most prevalent asset class on the Otis market with 23 different examples trading. Sneakers and art are in second with 16 assets each. Sports cards returned a sluggish week, falling -4.95% on average with the four worst performing assets all coming in the form of sports wax. Video games were the best performing sector, gaining 7.35% on average. The average return this week on Otis was -0.86% with 80 different assets trading.
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