The collectible card phenomenon has hit Sioux Falls as collectors and money changers try to catch them all, leaving many store shelves empty today.
Scalping, or the practice of buying cards with retail value and then selling them in stores or online for a much higher price, has grown a lot in recent years.
Trading card returns are better than S&P 500 stocks today, according to a survey by the PWCC Market Index. It is now a breaking point.
A fight broke out at a Milwaukee Target store about letters, And it only ended after a person drew his gun. On May 14, Target suspended sales at stores across the country, including Sioux Falls.
“The safety of our guests and our team is our top priority. As a precaution, we decided to temporarily suspend the sale of collectible MLB, NFL, NBA and Pokémon cards, ”Target said in a statement to the Leader Argus.
In Sioux Falls, and across the country, the collectible card phenomenon has left many Dollar Tree, Family Dollar, Target and Walmart stores regularly empty in recent months. Many stores now keep cards behind their counters due to theft or fights. And even the Sioux Falls collectible stores have seen the impact.
“The cards we stocked today will have run out this weekend,” said John Nordstrom, manager of comics at Rainbow Comics, Cards & Collectibles at 3310 S. Minnesota Ave.
Rainbow receives and sells new and used cards in good condition. They often sell them above the retail price, at market value. One official mentions that they take out about 10 binders full of sports cards a week from someone looking to sell them and that by far Pokémon is the most popular collectible card that flies off the shelves.
“Ebay changed the game,” said Nordstrom. “These guys arrive and know that they can sell the cards they get online immediately at a profit. This is taking the kids out of the game.”
Rainbow says he needs to make his own mixed packs just so that the kids can try their first packs. Other cards, like the rarest Kobe Bryant, cost $ 200 or more.
“We grew up in 2017, 18, 19. In 2020, Covid crashed and just exploded,” said Dennis Worden, owner of Triple Play Sports Cards in the city, at 3816 Western Ave.
Worden says his sales have increased by about 150% since last year and that Triple Play has trouble keeping the rarest NBA cards on the shelves. The store is selling Pokémon due to popular demand.
In fact, sports card auctions have been growing very recently. An NBA Luka Dončić card was sold for $ 4.6 million this year. And a Mickey Mantle card was also sold for more than $ 5 million. Eight of the ten most expensive commercial letters in history were all sold in 2021.
“It all started with the rookie card Patrick Mahomes before … it went on until COVID, when everyone got bored or nostalgic and went back to it,” said Worden, who is also a collector and has kept the store running for 20 years, many of them reducing Business.
This phenomenon has remained strong amid other speculative markets, such as cryptocurrency or floating stocks.
Goldin Auctions, one of the leaders in this space, raised $ 40 million earlier this year. And the card classification process, or special companies that help determine whether a card is folded or in perfect condition, helped to certify the market. But if the market goes out of control or stores have to stop selling for a long time, prices may also fall.
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