As the floodgates opened for the 1984 Michael Jordan Star card with an unprecedented run-up in prices and record sales set on a near-daily basis this past month, some predicted disaster on the horizon with a massive injection of supply into the market for high-grade examples.
Surely, this would be the end of the Star Jordan mania, many surmised, assuming the supply would outweigh demand and bring prices right back down.
Yet, as we enter the beginning of the week which will see around a dozen high grade or signed cards, as well as sealed team bags, sell on eBay and at Goldin, the first wave has passed with few casualties.
The week began with the $40,800 sale of a BGS 8 example at Fanatics on Sunday night. Accounting for the wide variance in price for BGS-slabbed Star cards, the drop from the prior comp of $48,000 is not exactly cause for alarm.
Even Monday night’s sale of another BGS 8 for $36,200, when viewed carefully, seems in-line considering its inferior eye appeal and imaging.
Then there was the biggest sale of the night, a PSA 7, which had sold for a record $62,000 at the end of August. This example fetched a respectable $51,800, the third-highest price ever recorded for the grade.
While those results alone can be taken either way, truthfully, a look at the current bids for the PSA 7 and PSA 7/Auto 9 at Goldin present helpful context to buoy the notion the market is appearing to avoid disaster.
Currently, bidding for the PSA 7 copy is at $56,000 with over four days remaining, already more than Monday night’s comp and within striking distance of yet another record for the grade.
The PSA 7/Auto 9 is currently sitting at $140,000, which, considering the record for a signed Star card is $183,610 (notched at Goldin earlier this month for a BGS 7.5/9 Auto), seems to lack any discernible signs for alarm.
This is a small sample size, and BGS slabs have not fared nearly as well, though, as mentioned, there are nuances involved with each Beckett slab, such as subgrades, date of grading and more, which make it difficult to draw conclusions.
It’s not time for a victory lap from Star card fans by any means, as there are certainly plenty more chances for a flooded market to outpace demand and bring prices down in a serious way. But it seems like the high-end Star collectors will live to see another week.
Will Stern is a reporter and editor for cllct.