Just released: Our latest Sports Collectibles Market Report!
The News: Brent Huigens, co-founder and CEO of PWCC and Fanatics agreed to mutually part ways. The change comes less than three months after Fanatics acquired PWCC after the auction house was reportedly facing increased liability with outstanding sports card loans. Huigens is credited with helping to transform PWCC into a leading marketplace for sports collectibles and pioneered the now ever-common idea of vaulting. His time at PWCC did not come without criticism though, as throughout the 2010s and into 2020, PWCC was accused of selling altered cards and promoting shill bidding. This led to a federal investigation with Huigens and PWCC refuting the claims.
This Wednesday's Alts & Ends, as always, covered three of the biggest stories in collectibles:
In 1996, Tupac designed and commissioned a gold, ruby, and diamond crown ring which would become one of the final pieces of jewelry the rapper ever wore. Sothebys sold the jewel for $1 million after initially estimating the piece for just $300k TWITTER
In a partnership between Octagon & Goldin, Julio Rodriguez & Bobby Witt Jr. will have their game-used memorabilia authenticated, stored, & sold through Goldin.
After a spring that delivered multiple record-breaking iPhone and Apple memorabilia sales, Rally announced a $26,000 buyout offer for their first-edition iPod. The offer would net investors a return of 1.6% vs IPO and 10.4% vs last trade.
Tupac's ring wasn't the only seven-figure sale this week at Sotheby's as flying dinosaurs were also on the auction block. The auction house sold a Pteranodon skeleton sold for $3.9 million as the sale fell below estimates of $4 million - $6 million.
'King of Collectibles: The Goldin Touch' will return to for Season 2 on Netflix. Season 1 followed @KenGoldin & the Goldin team with appearances from legends like Mike Tyson and Joe Montana.
Exclusive items from Jimmy Butler's personal collection will be sold via Top Drwr Auctions, a new marketplace that plans to partner with athletes and celebs to auction their personal fashion items.
Luxury conglomerate LVMH announced they will sponsor the 2024 Olympic games in Paris. Europes most valuable company, with a portfolio that includes Tiffany & Co., Louis Vuitton, and Dom Pérignon, reportedly paid $166 million in the deal TWITTER
The 43rd National Sports Collectors Convention opened in Chicago with thousands of collectors from around the world spending the week in the Windy City. LINK
Feel free to reach out to Keenan@Altaninsights.com for any questions/comments.
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