COVID-19’s Lasting Impact on the Sports Card Industry
In 2020, the world came to a sudden halt as COVID-19 spread across the globe, bringing life as we knew it to a standstill. Professional sports leagues paused their seasons, businesses closed their doors, and people were stuck at home under quarantine. But amid this chaos, an unexpected trend began to emerge, a massive resurgence in the sports card collectible market. What started as a niche hobby quickly evolved into a booming industry, fueled by a mix of nostalgia, new interest, and an unexpected economic shift. So how did COVID-19 breathe new life into the sports card market?
Nostalgia Meets Free Time
As lockdowns confined people to their homes, many turned to nostalgic hobbies like collecting sports cards, a pastime that defined childhood for those who grew up in the ’80s and ’90s. With more free time and fewer distractions, many revisited old collections stashed away in attics and basements, rediscovering not just the joy of the hobby but its potential as an investment. What were once forgotten boxes of cards quickly became sought-after commodities, driven by both nostalgia and the opportunity for profit.
A Surge in Digital and Online Sales
As brick-and-mortar stores closed, e-commerce platforms became essential, especially for sports cards, which had already gained traction online before COVID-19. Websites like eBay and COMC saw massive growth as collectors and sellers flocked to virtual marketplaces. The rise of social media platforms like Instagram, YouTube, and Twitter also played a crucial role, helping build a vibrant online community where collectors live-streamed “box breaks” (opening newly released packs for viewers). This interaction created excitement and urgency around rare pulls and limited-edition cards, further driving up demand. The digital shift also welcomed younger generations who weren’t exposed to traditional card trading, making it easier for them to learn about the hobby, network, and buy cards through online platforms.
Sports Card Prices Skyrocket
A major reason sports cards became so valuable during the pandemic was the surge in demand, driven not only by collectors revisiting childhood nostalgia but also by the growing interest in cards as an investment asset. With sports leagues paused and athletes facing uncertainty, investors sought tangible assets that could appreciate in value over time. This trend was especially evident in the skyrocketing prices of rookie cards from basketball stars like LeBron James and Michael Jordan, and football legends like Tom Brady. For instance, the 2003 LeBron James Upper Deck rookie card sold for over $1.8 million in 2021. The price surge wasn’t limited to big names; mid-tier players, vintage cards, and even lesser-known sports saw significant increases in value as more collectors entered the market. COVID-19 created a sense of urgency, where acting quickly meant not missing out on the next big opportunity.
The Rise of Modern Cards and Grading Services
The pandemic also sparked a rise in modern sports cards, as collectors grew fascinated with the new, high-quality releases from companies like Panini and Topps. These cards featured unique designs, autographs, and limited edition prints, making them highly desirable. Alongside this, grading services like PSA, Beckett, and SGC saw explosive growth, with professional grading becoming essential to ensure a card’s value. This surge in interest led to significant backlogs at grading services, underscoring the high demand for authenticated, premium cards. Graded cards often sold for multiples of their ungraded counterparts, and collectors were eager to pay top dollar to have their cards graded and resold for a premium.
The Intersection of Investment and Collecting
One of the most fascinating aspects of the sports card boom during COVID-19 was how it blurred the line between hobby collecting and financial investment. Before the pandemic, sports cards were mainly a passion for collectors, but as more people entered the market, it became clear that cards could also serve as an alternative investment. This shift was especially prominent as the stock market experienced unprecedented volatility in the early months of the pandemic. In uncertain times, people often seek tangible or nostalgic investments with intrinsic value, and sports cards, rich in rarity, history, and pop culture appeal, emerged as a viable option. As a result, many investors began viewing sports cards not only as a hobby but as a legitimate way to diversify their portfolios.
The Influence of Celebrity Endorsements
A key factor in the rise of the sports card market during the pandemic was the involvement of celebrities. While stars like Michael Jordan, Tom Brady, and LeBron James saw their cards sell for millions, influencers like Gary Vaynerchuk also played a significant role by endorsing sports cards as an investment. Gary Vee, in particular, openly shared his passion for sports cards on social media, drawing significant attention to the market. He frequently discussed the potential for long-term value in sports card investing, and his influence helped attract new people to the space. His endorsement reinforced the idea that sports cards weren’t just for collectors, but a serious investment opportunity.
Beyond Nostalgia:The New Era of Sports Cards
While fluctuations in the market are inevitable, the long-term impact of the pandemic on sports card collecting is undeniable. COVID-19 didn’t just revive the industry, it revolutionized it. What was once a pastime has now become a legacy, deeply embedded in both the hearts of collectors and the portfolios of investors. As the world continues to adapt and evolve, the place of sports cards in popular culture and the investment landscape seems secure for the foreseeable future.