I pulled out my albums of sports trading cards the other day when I heard about what's happening on Wall Street.
There's a big trend in sports collectibles that's grabbed the attention of sophisticated investors as well as smart traders, transforming card collecting from a fusty hobby into a major investment market.
According to CNN Business industry insiders know their business is benefiting from a broader market euphoria. But they don't think the boom in demand is generating a price bubble.
Instead the experts are saying the cards are now part of our culture.
But what made the difference? Why now after decades of sports collectibles piling up in collectors homes?
The short answer is the trading card renaissance was spurred by the pandemic. Stuck at home without live sports games, people began raiding their attics and basements and digging up old cards.
Overnight, trading cards were everywhere, boosted by celebrity endorsers ranging from Mark Wahlberg to Steve Aokio and Rersy co-founder Gary Vaynerchuk.
Investment professionals, flush with cash following unprecedented stimulus measures from governments and central banks has caused prices to spike.
Funds are being created. Investors are pooling their resources, causing the cards to become a viable asset.
The bottom line is everyday buyers can purchase a small stake in a LeBron James or Michael Jordan.
The big difference between cards and stock is nobody loves stock. I'm not ready to sell my top cards because I simply don't want to part with them.
It's amazing watching the cards go up in value like never before. If you're a sports collector willing to part with top cards, now is the time to do it.
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