Just released: Our latest Sports Collectibles Market Report!
The News: Yesterday, Panini filed a lawsuit against Fanatics on antitrust grounds. The complaint alleges that Fanatics is engaging in anticompetitive conduct in an effort to monopolize the market for major U.S. sports league trading cards.
Antitrust Complaints: Panini argues that the following actions by Fanatics constitute unlawful anticompetitive behavior: Fanatics acquisition of Topps, Fanatics acquiring control of Panini’s manufacturer in order to restrict supply to their competition, raiding Panini employees, and cutting off Panini’s supply of jerseys.
What’s Next: Panini is seeking damages, attorney fees, but also, Fanatics divestiture of GCP and Topps. Altan’s favorite Hobby lawyer, Paul Lesko, expects a Fanatics motion to dismiss in the next few weeks.
Check out Paul Lesko's thread breaking down the specifics here: TWITTER
The News:Post Malone bought 1/1 ‘One Ring’ MTG card for $2mm. The card was unboxed just a few months ago after a bounty was set at $1 million.
Significance: This sale marks the second highest price of a TCG card ever sold. The highest? A 1998 Pikachu-Holo Illustrator sold for $5.2mm to Logan Paul. Sales like these represent a significant trend of young celebrities spending top dollar for collectibles from their childhood. GAMESRADAR
Music royalty investment platform, MasterExchange, raises €2.46M ($2.7mm). Anyone who owns the master of a song can list it for an IMO (initial music offering), allowing investors to buy shares of the royalty stream. SILICONCANALS
Gemrate releases July numbers. Overall grading activity was up 2% over June, and up 1% y/y. GEMRATE
First generation iPod exited at Rally for $29,000 where it had IPOd for $5 per share with 5,000 shares. BARRONS
Beckett opens Las Vegas Office to grade and authenticate cards, tickets, VHS tapes, and memorabilia quicker. TWITTER
Freddie Mercury's Piano, which he used to compose Bohemian Rhapsody, has an estimate of $2-$3mm as part of his Sotheby's sale coming in September. SOTHEBYS
Beeple buys CryptoPunk #7049 for $137,534. It was last sold in 2020 for $378. It is the artist's first PFP NFT purchase. CRYPTO TIMES
Sotheby's will sell a Wilt Chamberlain game-used NBA finals jersey. The jersey is expected to sell somewhere in the low seven figures. SOTHEBYS
Feel free to reach out to Keenan@Altaninsights.com for any questions/comments.
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