Baseball card collecting during pandemic hits prices out of the park
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If you are of a certain age, you might remember the joy of buying, collecting and trading sports cards. It used to be a popular hobby, then fell out of favor. But now, apparently, it’s back.
It turns out this is yet another unexpected side effect of the pandemic, and as more people are collecting, the value of certain cards is skyrocketing.
Ken Goldin, a collectible card auctioneer, remembers auctioning off a 2009 autographed Mike Trout baseball card in May. In case you don’t know, Trout is a center fielder for the Los Angeles Angels, three-time American League most valuable player and a seven-time winner of the Silver Slugger Award.
“Prior to the pandemic, I would’ve expected the card to go for about $500,000. The card went for $922,000!” Goldin said.
At the time it was a record for the highest-priced modern trading card. Goldin said he’s since broken that record seven times.
“The sports card market is doing very well right now, I believe, because it’s part nostalgic, part art and part investment potential,” said professor John List at the University of Chicago, who studies behavioral economics through the baseball card market.
If you factor in “that everyone has been cooped up back home and longing for the good old days, and you make for a very special market moment,” List added.
But can it last? Card collecting was popular in the ’80s and ’90s. What happened then is a case study in supply and demand.
“the manufacturers back then really overproduced the product, which basically devalued it,” explained Jason Howarth, the vice president of marketing of Panini America, the world’s largest sports and collectibles company. “You know, trading cards are built on scarcity. The value is in the scarcity.”
He said that since then manufacturers have learned their lesson, so maybe this is a winning streak that will continue even after the pandemic.
COVID-19 Economy FAQs
Are states ready to roll out COVID-19 vaccines?
Claire Hannan, executive director of the nonprofit Association of Immunization Managers, which represents state health officials, said states have been making good progress in their preparations. And we could have several vaccines pretty soon. But states still need more funding, she said. Hannan doesn’t think a lack of additional funding would hold up distribution initially, but it could cause problems down the road. “It’s really worrisome that Congress may not pass funding or that there’s information circulating saying that states don’t need additional funding,” she said.
How is the service industry dealing with the return of coronavirus restrictions?
Without another round of something like the Paycheck Protection Program, which kept a lot of businesses afloat during the pandemic’s early stages, the outlook is bleak for places like restaurants. Some in the San Francisco Bay Area, for example, only got one week of indoor dining back before cases rose and restrictions went back into effect. Restaurant owners are revamping their business models in an effort to survive while waiting to see if they’ll be able to get more aid.
How are hospitals handling the nationwide surge in COVID-19 cases?
As the pandemic surges and more medical professionals themselves are coming down with COVID, nearly 1 in 5 hospitals in the country report having a critical shortage of staff, according to data from the Department of Health and Human Services. One of the knock-on effects of staff shortages is that people who have other medical needs are being asked to wait.
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