Topline
An extremely rare 1979 O-Pee-Chee Wayne Gretzky rookie has sold for $3.75 million in a private transaction, setting an all-time record for the highest price ever paid for a hockey card, but it's only the most recent item to sell for multi-millions in the still prosperous sports card and memorabilia market.
Wayne Gretzky skates during the 2016 Tim Hortons NHL Heritage Classic alumni game at Investors Group ... [+]
Key Facts
The Gretzky card is rated as a Gem Mint 10, the highest grade possible, by the Professional Sports Authenticator grading service, making it extraordinarily scarce and dramatically boosting its value.
PSA has examined nearly 6,000 O-Pee-Chee Gretzky rookies, and only two in existence have received a grade of 10.
The sale, first reported by ESPN, was brokered by Heritage Auctions.
Crucial Quote:
"Throughout many years of collecting, this card has always been our 'white whale,'" the buyer of the Gretzky card, who chose to remain anonymous, told ESPN. "Our family is thrilled to become the new guardians of this world-class hobby treasure."
Key Background:
In many respects, the astronomical rise in the value of the 1979 OPC Gretzky rookie reflects the unprecedented boom in the sports card and memorabilia market since the start of the pandemic. The card was first sold in August of 2016 for a then-record $465,000. Four years later, in December of 2020, the card was purchased at auction for $1.29 million, setting a new record. Five months later, the Gretzky rookie fetched a whopping $3.75 million. There have been other records shattered recently as well. At a Goldin Auction that closed last weekend, Kobe Bryant's earliest known game-worn rookie jersey sold for $3.7 million, a record for any basketball jersey, and an autographed Michael Jordan NBA All-Star Game Used Patch Card was purchased for $2.1 million, the highest amount ever paid for a Jordan item. In addition, a T206 Honus Wagner, graded a "2" by PSA, sold for $3.8 million, making it the fifth most expensive card of all time.
Big Number:
$1 billion. That's the total amount of revenue generated from the sale of trading cards on the eBay marketplace over the first three months of 2021, according to the company. An average of over 130 cards were sold per minute on the site during the first quarter, eBay announced last week, with sales of basketball cards increasing by nearly 300%.
Contra:
Some pundits have expressed concerns that the sports card market is due for a downward correction, citing the depreciating value of particular, iconic cards. For instance, a Gem Mint 10 Michael Jordan 1986 Fleer rookie sold for a record high of $738,000 in late January. By early March, the same card was purchased for $588,000 at auction. Earlier this month, the 1986 Fleer Jordan, in Gem Mint 10, sold for just $300,000.
Further Reading:
Mickey Mantle Rookie Card Sells For $5.2 Million, Setting Record For Largest Card Transaction (Forbes)
Mike Trout Rookie Card Sells For $3.93 Million, Breaking The All-Time Record (Forbes)
