How Sports Memorabilia Exploded Into a Booming Billion-Dollar Business

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The evolution of sports memorabilia is going for gold, with million-dollar prices ruling the field.

, have both upped their participation in the category as demand has grown, selling items such as the Michael Jordan “Last Dance” jersey, but the field has traditionally been dominated by specialist auction houses run by people who have helped create the market and that cater to newcomers and young collectors by auctioning inexpensive items as well as great white whales. , which sold the $12.6 million Mickey Mantle card for Giordano.

“People felt that traditional investments like Wall Street were pretty maxed out, so they started looking at alternative assets,” Ivy says. “I love bats that have a ton of pine tar on them and are totally beat-up. I love jerseys if they have a dirt stain on them.” He owns bats used by Willie Mays and Mickey Mantle, but a favorite is from George Brett, who was once famously called out for using an “illegal” amount of pine tar to create friction on his bat.

If there’s anything scarce in today’s sports-memorabilia market, it’s women—both athletes and collectors. Matt Powers, owner ofin Lee’s Summit, Mo., recently aired a podcast lamenting that the upcoming National Sports Collectors Convention has not enlisted a single female athlete to sign memorabilia amid 91 stars, among them Walt Frazier, Bill Walton, and Johnny Bench.

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