There’s been a lot to consider with all that the coronavirus has brought to the world. Many cases and a number of deaths. School shutdowns. No sports. Negative effects on the stock market. Though not nearly as important as the lives impacted, many are asking the question, “What will happen to the sports card market?”
Number of transactions will decrease
As a result of the coronavirus, the number of transactions will decrease. There are a few reasons why this will happen, but the largest is due to the fact that sports action has been suspended. For basketball cards, it’s as if the offseason just interrupted the prime time for selling cards that you may have been stockpiling. When players’ names aren’t continually showing up in the box scores or news, there won’t be as much demand for their products. This leads to the second thought…
Prices are likely to drop
Due to the decreased demand due to the season being suspended, there will be less buyers in the marketplace at this time. As basic economics reminds us, with a constant supply and decreased demand, it’s likely that prices will drop in the coming days and weeks. This is really unfortunate as the market was hitting another level in recent weeks, but it shouldn’t come crashing down. This may be a good time to keep an eye out for items that you missed the ball on the first time around.
The market will bounce back
Assuming that the coronavirus doesn’t completely destroy the economic state, the sports card market will bounce back. This may be an immediate recovery when play resumes or it could take awhile if the coronavirus brings more repercussions than anticipated at this point. In looking at history, sports cards haven’t always followed the trends of the stock market which offers hope that they will be a strong alternative whenever games pick back up.
What should you do?
Some may need to sell due to the effects of the coronavirus. Whether this is due to medical bills, layoffs, or some other circumstance, try to get as much value as you can out of your cards in the timeframe that you have. If selling on eBay, you may try to sell at a fixed price and leave option for offers to try and get as much value as possible.
If you don’t need to sell, hold onto your cards. As was discussed, the card market was in a great spot and trending positively up until the NBA suspended their season. If you’re able to wait, we strongly suggest waiting for play to resume and maybe even a little longer to see how the market could continue to grow.
If you’re in a position to buy, wait until prices dip and invest. Unfortunately, some will find themselves needing to sell amidst this time of crisis. Be mindful when negotiating with those needing to sell, but also know that this might be a time to snag a few deals. If you’re in a position to do so, we encourage you to keep an eye out on eBay auctions or other listings and compare them to prices before the coronavirus hit. This is a prime time to play the game of supply and demand and see some potentially quick and strong returns.
In our weekly Cards to Consider articles, we’ll offer our speculation of the card market by looking into various factors surrounding players from each sport. If you’d like to follow on Facebook or get these weekly articles to your inbox, we’d be happy to have you sign up and follow along!