Ken Goldin, founder and CEO of Goldin Auctions, has enjoyed what has been the busiest and most lucrative stretch in his four decades in the sports collectibles industry.
“There’s never been a time like this in the history of the business,” Goldin said in an interview with CNN Business. “This is now part of our culture.”
Goldin Auctions set a new record when it racked up $33 million in sales in a single auction in January. As card prices have risen, CNN Business points out that Wall Street investors and small traders are “transforming card collecting from a fusty hobby into a major investment market.”
CNN Business cites stimulus measures and “rock-bottom” interest rates as catalysts in the push to find creative investment alternatives.
The question that frequently follows any discussion around the sports card boom is, “Will this last value hold? Is this a bubble?”
“I wouldn’t go anywhere near the word bubble,” Ken Goldin said.
Famous collector Gary Vaynerchuk shared a similar sentiment on his website last March.
“This is a market that’s growing in demand but doesn’t have more supply,” he said. “That’s a recipe for opportunity.”