Covid-19 side effect: Why have people started spending heavily on sports cards and memorabilia? RT’s Boom Bust finds out
While the world is anxiously watching multi-million sales of pieces of digital art based in the form of Non-Fungible Tokens (NFTs) the realm of physical sports memorabilia and baseball cards is booming, fueled by the pandemic.
Rare cards are being sold for hundreds of thousands of dollars, while new packs are selling out unbelievably quickly.
RT’s Boom Bust has talked to Ken Goldin, Founder and Chairman of Goldin Auctions, which trades in sports cards, autographed memorabilia, game used items and some other collectable stuff, to investigate the phenomenon.
READ MORE: NFT crypto art commerce: Fad, natural evolution, burgeoning bubble or all of the above?
According to Goldin, worldwide lockdowns imposed due to the coronavirus pandemic have triggered a huge resurgence for the market of sports memorabilia and cards.
“People were really searching for sports, and there was nothing on TV obviously, and then they started looking through their attic, and the last dance came out, and it brought back memories of Michael Jordan and the golden era of basketball,” he said, adding that Goldin Auctions is currently seeing purchases at record prices.
“We sold a Mike Trout baseball card for $900,000, then we sold a Lebron James card for $1.8 million,” Goldin said.
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