Less than 18 months ago, Mile High Card Company offered a 1952 Topps #311 Mickey Mantle PSA 5 in our 2014 Summer auction. The card brought in just short of $16,000, a respectable price at the time. A few weeks ago, MHCC offered another 1952 Topps Mantle that changed hands for the sum of $21,549.00. While any collector would consider that a tidy windfall, it becomes even more impressive when you consider that the latest offering was not a PSA 5; it was graded PSA 2.5 GOOD+. The last two PSA5s have sold for over $57,000. As incredible as that sounds, it’s become a common event in an industry that is not only experiencing bull market, it’s reaching a level never before imagined!
Is it time to sell?
It would be really easy for us to just say, “YES!” We’re in the auction business, it’s what we do, so we’re definitely biased. But that doesn’t mean we’re wrong, because the results speak for themselves. When a 1955 Topps Roberto Clemente RC graded PSA 8 sells for $12,000 in an April 2014 MHCC auction and over $58,000 just a few weeks ago, or a 1968 Topps Nolan Ryan RC graded PSA 9 jumps from $15,000 a year ago to over $40,000 in the last public auction, you might conclude that there’s a few collectors out there that got a little caught up in the bidding frenzy. But it’s much more than that. When you deal with so many praiseworthy cards on a regular basis as we do, the trend becomes impossible to ignore. Look at the price changes that have taken place in just the course of a year: 1954 Topps Hank Aaron PSA 8 from $11,000 (Mar 2015) to over $28,000 (Jan 2016), 1955 Koufax PSA 8 from $3,400 (Feb 2015) to $8,600 (Feb 2016), even lower priced cards like a 1964 Topps Pete Rose PSA 8, which was selling for under $900 as recently as March and now boasts four sales of $2,200 or more since December. This incredible spike in prices has been across the board from the mid grades on up, doubling, tripling, and in the case of the Clemente RC, more than quadrupling in value, all while the stock market has fallen over the same time span.
Are we still on the way up?
Ha! If I knew the answer to that, I’d be on my own island sipping margaritas. But I do know this … nothing lasts forever. In the last MHCC auction, an incredible 1954 Topps Aaron RC PSA 9 brought in over $190,000, beating the previous high of $62,000 from a public auction in August 2014. Who can really know for sure whether that same card sells for $300,000 two months from now, stays even for the next 5 years or drops in price? Sure, most of you aren’t in the market for MINT Hank Aaron rookie cards, but everyone has an investment in their collection. The best advice we can offer is to take a good, long look at what you have. Is it something you enjoy, regardless of its monetary value? Is it something you can part with, maybe to help complete a different project or invest elsewhere? While we can’t predict the future, we do know that in the present, there’s never been a better time to sell. Whether it’s months from now, years, or even a decade away, eventually the music stops, prices recede, and balance is restored. Whatever you decide, we at Mile High Card Company are dedicated to being at your service.
