New here? Read up on our past Sports Memorabilia issues to get the most from this post.
June 30, 2022 | ± 4 minutes
HIGHLIGHTS:
- Sports memorabilia was up last week
- A classic jersey from the Miracle on Ice (sort of)
- We’ve updated the valuation of Andre the Giant’s jock strap
Let’s go!
Sports Memorabilia this year
It’s been a tough 2022 for sports memorabilia, but at least it’s outperforming crypto.
Last week
Fractional secondary markets
It was another big week for golf memorabilia and a solid week for the two largest asset classes – baseball and basketball.
Buyout offer
The Rally Michael Jordan 1992 signed game-worn Air Jordan 7 shoes shareholders rejected the updated buyout offer for $36,000 ($5.14/share). Maintaining inferred value of $35,000 ($5.00/share).
Valuation updates
At times, I’d like to go up into the Alts.co attic and dust off some assets that have been trading for a while and revisit their valuations. Has anything changed since we last looked at them?
Magic Johnson 1987 Converse Game Worn Signed Sneakers
- IPO market cap = $22,000 (3/24//2021)
- Current market cap = $23,100
- Previous inferred value = $20,400
Updated inferred value = $18,360 (one of the Otis assets that will be sold at Goldin as part of the Public transition; no recent close comps; a pair of 1987 game-issued (not game-worn) and signed sneakers sold at auction in May 2022 for $5,640; a pair of photo-matched sneakers that Magic wore on the 1992 Dream Team sold for $26,870 in May 2020; Otis bought their sneakers in January 2021 for $20,400 so the 10% fractional buyer discount is applied).
Andre the Giant Game Used Jockstrap
- IPO market cap = $29,000 (3/26/2021)
- Current market cap = $14,500
- Previous inferred value = $29,500
Updated inferred value = $35,000 (such a unique asset – maybe that’s good? – that direct comps will always be next to impossible to come by; using the CardLadder Andre the Giant index, which tracks his more collectible cards, Andre is up 20% from the March 2021 IPO date to June 2022; using this 20% gain applied to the Collectable asset, the inferred value is updated to $35,000)
This week & next week
Fractional market IPOs
Mike Eruzione 1980 Team USA Hockey Gold Medal Game Jersey
- Market Cap: Not announced at time of writing
- Retained Equity: 89%
- Inferred Value: $698k
- Drop: 6/30/2022 on Collectable
- Our View: [Insiders Only]
Auctions
Fanatics seems to have their hands in just about everything related to sports: not only do they sell team apparel and have made major in-roads into the trading card market, they also do memorabilia auctions. Their offerings are generally lower priced than Goldin or Heritage, appealing to the collector on a budget.
Their latest auction has some game-worn NFL jerseys from second or third tier stars, mostly focused on the defensive side of the ball. The Joey Bosa jersey, with a current bid of $1,000, jumps out as the most attractive of the lot. Game-worn jerseys are also available from Jadeveon Clowney ($1,000) and from Utah Jazz center and COVID spreader Rudy Gobert ($800).
The Gotta Have Rock and Roll Sports 2022 Summer Auction starts on June 29 and runs through July 15. Items of note:
- Babe Ruth Home Run Baseball #189 Hit Against Walter Johnson (8/29/1922) – estimate of $30,000 – $50,000; not signed, but the history of the ball touches two of baseball’s all-time greats; first time at auction as it has been a family heirloom.
- 1961 Willie Mays SF Giants Game-used and Signed Cap – estimate of $40,000 – $50,000; worn by Mays on 4/30/1961, a day on which he hit four home runs.
- 1976-77 Bill Belichick Signed Detroit Lions Playbook – estimate of $10,000 – $15,000; earliest Belichick playbook to ever surface, this was from Bill’s two-year stint with the Lions in the late 70’s and the same time Brady debuted in the league (I kid, I kid).
- LeBron James High School Game Worn Jersey and Shorts – estimate of $5,000 – $8,000; this uniform was worn by LeBron on non-televised games during his junior year (televised games utilised an Adidas uniform) which reduces the chances of a potential photo-match, but the uniform was worn in more games than the Adidas uniforms that occasionally surface at auctions.
Last but not least, out podcast
In this episode, Horacio spoke with Leore Avidar, the founder and CEO at Alt – one of the leading platforms in the Sports Cards space. Leore is looking to build beyond sports cards by moving into other collectibles and by embracing Web3. He talks about using sports cards as collateral for a loan, lending against a portfolio of an asset class, investing during a downturn, and more
That wraps up our Sports Memorabilia coverage for this issue.
As always, if you have any questions or requests, please feel free to respond directly to any. We read everything we receive.
Cheers,
Wyatt
