1933 Goudey Babe Ruth

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​NOTE: Collectable postponed its IPO of the 1916 Babe Ruth card that Wyatt wrote about here. In its place, it will IPO a different Babe Ruth card.​

Today we have a deep dive into the 1933 Goudey Babe Ruth #144 SGC 8 that will IPO at Collectable on April 25th, 2021 at 6:30 PM EST.

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What is the 1933 Goudey Babe Ruth #144 SGC 8?

The 1933 Goudey set is an iconic vintage baseball card set, containing a number of the most well-known cards of legendary players of that era. There were four separate Babe Ruth cards in the set (#53, #144, #149 and #181) with the #144 the only one with a full body picture of Ruth. The card was double printed, and as such, there is a pretty large supply still around today, with a surprising number in good condition.

The SGC pop report shows that of the 559 total cards graded, there are 8 SGC 8s and 5 graded higher:

For good measure, there have been 1,143 cards graded at PSA, with 32 graded as PSA 8 and 4 PSA 9s with none higher.

It IPOs on Collectable at 6:33 PM EST (according to the app) on April 25th for $136,000. The consignor is holding $20,000 in retained equity, leaving $116,000 in shares.

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Cultural Relevance

Wyatt covered this in the previous Babe Ruth writeup. Suffice to say, Ruth was one of the greatest baseball players ever and still retains a high level of name recognition today.

Inferred Value – $100K+

[Detailed Valuation available to Insiders Only]

Category Strength

The Sports Cards category had a 60% ROI in Q1 2021.

Subcategory Strength

[Insiders Only]

Risk Profile

[Insiders Only]

Asset Growth TTM

[Insiders Only]

Growth Outlook and Future Catalysts

Ruth’s cards have been appreciating steadily and given his iconic status I’d expect that to continue. The one drawback of this asset is that it’s not as scarce as you would expect for a card from 1933. The Heritage auction of the 1916 Ruth card that Collectable was originally going to IPO is ongoing. The current price (with buyer’s premium) is $2.25 million and with twelve days left is certainly going to go higher. The publicity from a record-breaking sale could lift interest in Ruth’s other cards.

Asset Liquidity

This will have a roughly 90 day lockup period then will trade daily.

Platform Risk

[Insiders Only]

Intangibles

The retained equity is actually pretty low (14.71%) for the typical Collectable offering.


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Author

Adam Katz

Adam Katz

Adam is a lawyer and real estate investor with a finance background. His diverse job experience includes stints in a MLB front office, a major global law firm and the real estate investment fund he co-founded. He is bringing his well-honed research and valuation skills to the world of fractional investing. Born and raised in San Francisco, he currently lives in Brooklyn with his dog, a pit bull mix named Beaux.

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