Mickey Mantle baseball card sells for a record-breaking $12.6 million
NEW YORK — A mint-condition Mickey Mantle baseball card sold for $12.6 million on Sunday, the most money ever paid for a piece of sports memorabilia in a market that has grown exponentially more lucrative in recent years.
The rare Mantle card eclipsed the record just posted a few months ago — $9.3 million for the jersey worn by Diego Maradona when he scored the contentious “Hand of God” goal in soccer’s 1986 World Cup.
The Mantle card sale also easily surpassed the $7.25 million paid for a century-old Honus Wagner baseball card, which was sold recently in a private transaction.
And just last month, the heavyweight boxing belt reclaimed by Muhammad Ali during 1974’s “Rumble in the Jungle” sold for nearly $6.2 million.
All are part of a booming market for sports collectibles.
Prices have risen not just for the rarest items, but also for pieces that might have been collecting dust in garages and attics. Many of those items make it onto consumer auction sites like eBay, while others are put up for bidding by auction houses.
A look at what happened in sports history on May 14, including Mickey Mantle’s 500th career home run at Yankee Stadium.
Because of its near-perfect condition and its legendary subject, the Mantle card was destined to be a top seller, said Chris Ivy, the director of sports auctions at Heritage Auctions, which ran the bidding.
Before the pandemic, the sports memorabilia market was estimated at more than $5.4 billion, according to a 2018 Forbes interview with David Yoken, the founder of Collectable.com.
By 2021, that market had grown to $26 billion, according to the research firm Market Decipher, which predicts that the market will grow astronomically to $227 billion within a decade — partly fueled by the rise of so-called NFTs, or non-fungible tokens, which are digital collectibles with unique data-encrypted fingerprints.
Sports cards have been especially in demand, as people spent more time at home and an opportunity arose to rummage through potential treasure-troves of childhood memories, unearthing items such as old comic books and small stacks of bubblegum cards featuring marquee sports stars.
Non-fungible tokens, or NFTs, took off within sports during the spring. The market has since calmed down, but investors still see a future within sports.
The Mantle baseball card dates from 1952 and is widely regarded as one of just a handful of the baseball legend in near-perfect condition.
The auction netted a handsome profit for Anthony Giordano, a New Jersey waste management entrepreneur who bought it for $50,000 at a New York City show in 1991.
“As soon as it hit 10 million [dollars] I just turned in. I couldn’t keep my eyes open anymore,” Giordano, 75, said Sunday morning. His sons monitored the auction for him. “They stayed up and called me this morning bright and early to tell me that it reached where it reached.”
The switch-hitting Mantle was a Triple Crown winner in 1956, a three-time American League MVP and a seven-time World Series champion. The Hall of Famer died in 1995.
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