BOSTON — While many businesses have struggled during the pandemic, the trading cards industry has seen tremendous growth and those who have invested in it have thrived.
“Last March, we were evaluating whether we were going to be able to continue. Here we are today putting up our best numbers and exceeding what our expectations were,” said David Ferrante, owner of Hall of Fame Collectibles in Leominster.
The same sentiment was expressed by Phil Castinetti of Sports World in Saugus.
“Business right now is probably better than in all the 35 years I’ve been doing this,” said Castinetti.
What caused the boom in the industry? Forced quarantines keeping people in their houses, extra time to go through some of their old belongings, and people seeking other ways to make money.
“I think we saw it in a bunch of different avenues throughout Covid whether it was toilet paper, hand sanitizer, people saw a market to make money,” said Sean Riley of South Coast Cards and Collectibles in Fall River.
The sports card industry isn’t just for kids and people reliving the glory years of their childhood anymore. It’s become a real investment opportunity with people purchasing cards for millions of dollars. A Tom Brady rookie card recently sold for $1.3 million to Harvard graduate and CEO of Fitbit James Park.
“These cards are really strongly a piece of history,” said Park. “I think it’s now people are realizing, Oh My God, these are investable classes of assets. Look at things like art. No one really questions whether a Picasso or a Van Gogh is worth 50 or $100 million.”
Will the bubble of the card industry pop as restrictions are lifted and people assimilate back into their normal lives?
Ace Gershfield of Boston Bids thinks they are here to stay.
“I always say markets will dictate and prove themselves out over time,” said Gershfield. “There will be continued interest in this market, especially when you keep seeing these big-ticket items hit the headlines.”
Download the free Boston 25 News app for up-to-the-minute push alerts
>> Complete Covid-19 vaccine coverage
RESOURCES:
- Complete local and national coronavirus coverage here
- Follow us on Facebook and Twitter | Watch Boston 25 NOW
