Auction Action by Altan Insights: July 15, 2021

Memory Lane closed a historic auction over the weekend that featured five different lots selling for at least $1 million. The event showcased a collection of cards from the late Dr. Thomas Newman who passed from Covid-19 in January. The 1933 Goudey #53 Babe Ruth set the pace at the event with a record-breaking sale of $4,212,000. The PSA 9 graded pre-war Goudey stands alone as the highest graded example. Vintage cards from both pre and post war eras were included in the auction with multiple cards setting records based on their grade and series. We review the results relevant to alternative investors and compare the prices to current market caps. Note that all auction results include a 20% buyer’s premium. 

Baseball

Asset: 1952 Topps #311 Mickey Mantle (PSA 8)

Memory Lane: $2,112,000

Collectable: $979,700

Review: One of baseball’s most iconic cards experienced a breakout sale as Memory Lane sold a 1952 Topps Mantle for $2.1 million. Collectable IPO’d their PSA 8 example on January 6th for $485,000 and the card has appreciated 44.3% overall. Since the auction result, Collectable’s card has added 43.3% and is nearing a $1 million market cap as of Wednesday. 

Asset: 1952 Bowman #101 Mickey Mantle (PSA 8)

Memory Lane: $46,111.20

Collectable: $29,750

Review: The Bowman version of 1952 Mantle cards sold for a new record with a final hammer price of $46,111.20. The result exceeded the previous record for the card of $34,440. Collectable’s copy is currently trading for $29,750 which is 98.3% above it’s IPO price of $15,000. 

Asset: 1968 Topps #280 Mickey Mantle (PSA 9)

Memory Lane: $17,118

Collectable (2 cards): $36,350

Review: Collectable has a basket of 1968 Topps Mantle’s scheduled to begin trading on July 26th. The basket will open at a $36,350 market cap and will be the fifth Mantle on their secondary market. The Memory Lane sale represents a strong recovery and the second highest sale ever recorded for the card. After Goldin sold one for $18,450 in March, sales slipped, with multiple cards selling in the $9,000-$11,000 range on eBay and at Goldin. 

Asset: 1934 Goudey #61 Lou Gehrig (PSA 8)

Memory Lane: $75,252

Rally: $42,500

Review: Rally’s card IPO’d in December at a $35,000 market cap and even after the offering gained 21.4% on their secondary market, still sits well below the valuation struck at Memory Lane.The auction result marks the highest price ever paid for this Gehrig Goudey- the previous record was $44,126 at SCP Auctions. 

Asset: 1933 Goudey #144 Babe Ruth (PSA 7)

Memory Lane: $161,582.40

Collectable (SGC 8): $136,000

Rally (PSA 8): $140,000

Review: The Memory Lane card sold for a new record for any PSA 7 and even surpassed the value of the two fractional examples which are in a higher grade. Collectable has a SGC 8 while Rally has a PSA 8 and both are well under the hammer price of Memory Lane’s PSA 7. Collectable’s card is scheduled to open for trading on July 21st at a $136,000 market cap while the Rally card gained 2.94% in its last session. 

Asset: 1952 Topps #261 Willie Mays (PSA 8)

Memory Lane: $233,582.40

Collectable: $239,000

Review: The first Topps card to feature May’s has long been considered his most valuable and popular cardboard. Collectable’s offering is scheduled to begin trading on August 16th and will open at a market cap comparable to Memory Lane’s sale. PSA 8’s are trending positively as Goldin Auctions sold one example for $186,960 in May. 

Asset: 1951 Bowman Willie  Mays (PSA 7)

Memory Lane: $43,460.40

Collectable: $99,000

Review: Collectable is scheduled to begin trading their card on July 19th. This is the only official rookie card for the ‘Say Hey Kid’ and while the Memory Lane sale is a steep drop from prices realized in the spring, investors should monitor upcoming sales to see if the card recovers or stabilizes. 

Asset: 1939 Play Ball #92 Ted Williams Rookie (PSA 8)

Memory Lane: $36,196.80

Collectable: $46,048

Rally (SGC 8.5): $35,000

Review: One of the most well-known pre-war gun cards ever produced, Memory Lane’s sale represents a pullback from prices realized in the Spring but is still well above any sales from 2020. Collectable’s card has gained 43.9% since its IPO and is up 10.7% over the last month. Rally’s example is graded SGC 8.5 and has added 25% to its market cap. 

Asset: 1910 E98 Set of 30 Ty Cobb Red (PSA 9)

Memory Lane: $43,460.40

Rally: $58,000

Review: Rally’s Cobb-card fell -17.14% in its last trading session and is still trending slightly above the valuation struck at Memory Lane. The E98 set is an iconic series and featured 30 players- 17 of which would make the Hall of Fame. The Rally card IPO’d in 2019 at a $39,000 market cap and is still up 48.7% overall. 

Asset: 1950 Bowman #22 Jackie Robinson (PSA 8)

Memory Lane: $22,784.40

Rally: $12,329 (net return)

Review: The Memory Lane result is similar to a sale that occurred at Heritage Auction for $24,000 in May. Investors on Rally voted to approve a buyout offer on October 6th for a PSA 8 example. The gross offer was $13,000 with $12,329 as the net payout. Investors approved the sale which resulted in a 23% return.

Basketball

Asset: 1969 Topps #25 Lew Alcindor Rookie (PSA 8)

Memory Lane: $64,102.80

Rally: $50,000

Review: The Rally example IPO’d in November at a $27,500 market cap. The card has since gained 81.8% on their secondary market and is now trading at a $50,000 market cap. 

Asset: 2003 Topps Chrome Refractor #111 LeBron James Rookie Card (PSA 10)

Memory Lane: $83,158.80

Otis: $87,097.50

Rally (BGS 10): $105,000

Review: The Otis card is up 18.5% from its IPO price but has dropped -40.75% over the last three months. Rally’s card opened at a $100,000 market cap and is also up 5% but fell -30% in its last trading session.

All images courtesy of Memory Lane Auctions

Want to get more great insights and access to powerful tools to help guide your investment strategy? Signup for Altan Insights now.‍

Disclaimer: You understand that by reading Altan Insights, you are not receiving financial advice. No content published here constitutes a recommendation that any particular security, transaction, or investment strategy is suitable for any specific person. You further understand that the author(s) are not advising you personally concerning the nature, potential, value or suitability of any particular security, transaction, or investment strategy. You alone are solely responsible for determining whether an investment, security or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal financial situation. Please speak with a financial advisor to understand if the risks inherent in trading are appropriate for you. Trade at your own risk. ‍