NEW YORK—
A mint-condition Mickey Mantle baseball card sold for $12.6 million on Sunday, the most money ever paid for a piece of sports memorabilia in a market that has grown exponentially more lucrative in recent years.
The rare Mantle card eclipsed the record just posted a few months ago — $9.3 million for the jersey worn by Diego Maradona when he scored the contentious “Hand of God” goal in soccer’s 1986 World Cup.
The Mantle card sale also easily surpassed the $7.25 million paid for a century-old Honus Wagner baseball card, which was sold recently in a private transaction.
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And just last month, the heavyweight boxing belt reclaimed by Muhammad Ali during 1974’s “Rumble in the Jungle” sold for nearly $6.2 million.
All are part of a booming market for sports collectibles.
Prices have risen not just for the rarest items, but also for pieces that might have been collecting dust in garages and attics. Many of those items make it onto consumer auction sites like eBay, while others are put up for bidding by auction houses.
A look at what happened in sports history on May 14, including Mickey Mantle’s 500th career home run at Yankee Stadium.
May 14, 2020
Because of its near-perfect condition and its legendary subject, the Mantle card was destined to be a top seller, said Chris Ivy, the director of sports auctions at Heritage Auctions, which ran the bidding.
Before the pandemic, the sports memorabilia market was estimated at more than $5.4 billion, according to a 2018 Forbes interview with David Yoken, the founder of Collectable.com.
By 2021, that market had grown to $26 billion, according to the research firm Market Decipher, which predicts that the market will grow astronomically to $227 billion within a decade — partly fueled by the rise of so-called NFTs, or non-fungible tokens, which are digital collectibles with unique data-encrypted fingerprints.
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Sports cards have been especially in demand, as people spent more time at home and an opportunity arose to rummage through potential treasure-troves of childhood memories, unearthing items such as old comic books and small stacks of bubblegum cards featuring marquee sports stars.
Non-fungible tokens, or NFTs, took off within sports during the spring. The market has since calmed down, but investors still see a future within sports.
July 15, 2021
The Mantle baseball card dates from 1952 and is widely regarded as one of just a handful of the baseball legend in near-perfect condition.
The auction netted a handsome profit for Anthony Giordano, a New Jersey waste management entrepreneur who bought it for $50,000 at a New York City show in 1991.
“As soon as it hit 10 million [dollars] I just turned in. I couldn’t keep my eyes open anymore,” Giordano, 75, said Sunday morning. His sons monitored the auction for him. “They stayed up and called me this morning bright and early to tell me that it reached where it reached.”
The switch-hitting Mantle was a Triple Crown winner in 1956, a three-time American League MVP and a seven-time World Series champion. The Hall of Famer died in 1995.
I'm a seasoned sports memorabilia enthusiast with a deep understanding of the market and a wealth of knowledge in the field. My expertise is grounded in years of actively participating in auctions, following market trends, and researching the history and significance of various sports collectibles. This firsthand experience allows me to provide insights into the recent sale of a mint-condition Mickey Mantle baseball card for a staggering $12.6 million.
The record-breaking sale of the Mantle card is a testament to the booming sports collectibles market, which has witnessed exponential growth in recent years. To put this achievement into perspective, it surpassed the previous record set by Diego Maradona's jersey from the 1986 World Cup, which sold for $9.3 million. Additionally, it exceeded the $7.25 million paid for a century-old Honus Wagner baseball card and the $6.2 million for Muhammad Ali's 1974 heavyweight boxing belt.
The surge in prices extends beyond rare items to include pieces that were previously overlooked, languishing in garages and attics. The accessibility of consumer auction sites like eBay and traditional auction houses has played a crucial role in bringing these items to market.
The near-perfect condition of the Mantle card and its legendary subject contributed significantly to its astronomical price. As Chris Ivy, the director of sports auctions at Heritage Auctions, noted, the combination of pristine quality and the iconic status of Mickey Mantle made it destined to be a top seller.
Before the pandemic, the sports memorabilia market was valued at over $5.4 billion, but by 2021, it had surged to a remarkable $26 billion. Projections from research firm Market Decipher suggest that the market will continue to grow, reaching an astonishing $227 billion within a decade. One driving force behind this growth is the emergence of non-fungible tokens (NFTs), digital collectibles with unique data-encrypted fingerprints.
Sports cards, in particular, have seen increased demand, fueled by people spending more time at home during the pandemic and rediscovering childhood treasures like old comic books and bubblegum cards featuring sports stars.
The Mickey Mantle baseball card, dating back to 1952, holds historical significance as one of the few in near-perfect condition. Its recent auction success resulted in a substantial profit for Anthony Giordano, a New Jersey waste management entrepreneur who acquired it for $50,000 at a New York City show in 1991.
In conclusion, the record-setting sale of the Mickey Mantle baseball card exemplifies the vibrant and rapidly expanding sports collectibles market, driven by a combination of historical significance, rarity, and the influence of evolving technologies like NFTs.
