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New investments: why does a collector pay nearly $ 1.5 million for a signed sports photo?

2021-10-15T16:57:57.161Z

The proceeds from sports devotional items are skyrocketing. Millions are being spent on an old baseball picture or trading card from former NBA star Michael Jordan. What's behind it?



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A 1911 black and white photo of baseball player Joe Jackson just sold for $ 1.5 million

Photo:

Christie's and Hunt Auctions / AP

A villa or would you prefer a signed photo of the former American baseball player Joe Jackson?

In any case, the sales value makes no difference.

A buyer in New York last week selected the 1911 black and white photography. He offered $ 1.47 million at auction for the rarity - the highest amount ever paid for a sports photo.

This is not an isolated case.

Next week, the auction house Sotheby's is auctioning shoes that former basketball star Michael Jordan is said to have worn in 1984;

Experts are also expecting record sales in the millions here.

On Monday, a trading card from the two-time Olympic champion already fetched 2.7 million dollars at another auction.

The prices for collectibles from the sports world are rising rapidly.

According to Nicole Sprecher, managing director of the German Internet auction house United Charity, there are two main types of buyers: “Either there are people who have a lot of money and want to own something that others don't have.

Or they are so big fans that they are willing to invest sums that are actually above their budget. "

Snowball effect from the pandemic

The corona pandemic has intensified this development.

"There was a snowball effect," says Jordan Gilroy of the US auction house Lelands.

Because suddenly more people would simply have participated in the auction market than before the pandemic.

"Some sellers offered their collectibles because they needed the money," says Gilroy, "and at the same time there were many potential buyers looking for employment in the pandemic."

The increased demand has driven prices up.

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Former basketball star Michael Jordan 2017

Photo: Streeter Lecka / Getty Images

An example of this: basketball icon Jordan.

In 1999, one of his college jerseys fetched $ 63,500 at auction.

In May of this year, the same jersey was auctioned again - for just under 1.4 million dollars.

An increase in value of 2200 percent in around two decades.

In Germany, too, sales could continue to rise in the future, said the auction house managing director speaker: "The fan culture - especially in football - is getting bigger and bigger." In addition, many collectors now see the sports stars' shoes, jerseys, photos and autographs as an investment.

Source: spiegel

All sports articles on 2021-10-15

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