Trades and Trends by Altan Insights: May 8, 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 the final week of their two-day trading structure, 13 different assets traded on the Rally secondary market. The 1958 Alifabolaget Pelé Rookie Card (PSA 9) was the top performer, gaining 13.5% and pushing its market cap to $357,525. On Thursday, two days after the card was traded on Rally, a PSA 8.5 example sold at Heritage Auction for $372,000 (w/ Buyer’s Premium). The other top performing asset was the Domino's Pizza Rolex. The Air-King wristwatch gained 10.91% in its first trading session.
Michael Jordan memorabilia struggled this week on Rally. The two worst performing assets were both related to the G.O.A.T, with the 1988 Game-Worn ‘Air Jordan III’s’ dropping 51.29%. His 1984 Signing Day Jersey also fell, cutting its market cap by 46%. Video games lagged this week on Rally with both the 1998 Playstation GTA and 1998 Game Boy Pokémon Blue falling at least 30%.
Sports cards returned the best week on average, led by the Pelé rookie and a 1933 Goudey Babe Ruth. Assets on Rally lost an average of -14.41%, with the losses driven heavily by sports memorabilia and video games.
Trading Update: Trading will occur daily on Rally starting Monday, May 10th. Initially, between 2-4 assets are scheduled to trade each day (Monday-Friday) with the standard 9:30-4 PM ET trading hours remaining the same.
The trading floor at Collectable continues to expand with six new assets added this week, pushing the total to thirty-six on the platform. The 1996 Tiger Woods SI for Kids card was the best performing asset of the week, gaining 49%. The Playoff Contenders Hobby Box, which is known for featuring cards from Tom Brady’s rookie year, jumped 37.5%. Basketball assets performed well this week as five of the top ten gaining assets all came from hardwood-related offerings.
The worst performing asset was the 2015 Bowman Gleyber Torres card which dropped -40% in its first week of trading. The player considered a potential heir-apparent to Derek Jeter has struggled this season with no home-runs and a .234 batting average through the first 30 games of 2021. The heralded MJ Fleer card also dropped this week, dipping -9.10%. Friday was the worst day for the Jordan-rookie as the card lost -7.89% during the session. The sell-off was possibly driven by Thursday’s auction results at Heritage Auctions, when a PSA 10 Fleer sold for $336,000, the lowest public auction sale for the card this year.
Sports cards led on Collectable, gaining 5.3% on average. Sports memorabilia also turned-in a positive week, increasing 3.36%. The average weekly return was 4.76% and the total return for assets currently trading on the Collectable secondary market since inception is 39.69% (does not include buyouts).
Note: Otis weekly data is calculated from Saturday-Friday.
The 1996 Topps Allen Iverson Rookie Card was the best performing asset on Otis this week, gaining 30.62%. Sneakers showed-out on the Otis trading floor, with 4 of the top 6 best performing assets coming from the wearable asset class. Three other assets that are technically sneakers (MJ AJ1’s, Magic’s Sneakers, Shattered Backboard AJ1’s) but fall under the Sports Memorabilia asset class also finished the week with gains of at least 10%. The artwork ‘Grey Selenite Newspaper Machine’ by Daniel Arsham was the biggest loser on Otis, dropping 25%. The video game Super Mario Bros.3 fell -20% and the 2009 Topps Steph Curry rookie card dipped 19.44%.
Art and video games were the only two asset classes to finish the week with negative average returns while sneakers, card games, and sports memorabilia all gained at least 3% on average. The average weekly return on Otis was 1.04% and the total return since inception for all assets currently trading on Otis is 29.64%
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