Matt Allen, a collector, spent $474,000 in January for an untested minor leaguer who had yet to play in Double-A. Is this high-priced card prospecting the next frontier in the memorabilia market?
What happened two weeks after New Year in the world of sports?
On New Year’s, a baseball card is the subject of a bidding battle on Goldin’s collectibles marketplace. Bidding began at $30,000 and increased to $101,000 the next day, with 14 bids received before midnight.
Shyne150, a high-end collector, spent $474,000 for a 2020 Bowman Chrome Prospect Autographs, a literal each rookie card of a minor league prospect, which is estimated to be the highest price ever paid a card representing a player who has yet to play in Double-A.
Is Jasson Dominguez a star in a bold new world of sports card prospecting?
The prospect was several years away from The Show. The one-of-one card featured Jasson Dominguez, the New York Yankees‘ then-Low-A switch-hitter who had played 57 games in minor league ball at the sale.
The amount and boldness of Shyne’s prospecting (buying in cards of unproven players before they blossom or burst) astounded the card-collecting world. The approach has grown commonplace, although the investments are often more conservative.
Why did Shyne invest in Dominguez?
Shyne didn’t regard Dominguez as unskilled or his investment as hazardous; he saw an opportunity and a profit margin to be reckoned with. After all, baseball offers a longer runway for success than football or basketball.
Shyne said, “I wouldn’t even contemplate selling the Dominguez to you for $200,000 more than I spent for it,” Shyne, 40, says. Dominguez, like a connection, is not yet mature. You only have to wait.” [1]
Who is Shyne?
Shyne’s actual name is Matt Allen, but you won’t find it on his well-manicured social media. Allen put his private equity money into cards around four years ago. According to his estimate, he invested his riches in his hobby and now has a sports card collection worth more than $100 million.
He sold a Luka Doncic rookie patch signature for $4.6 million, momentarily setting the record for the most costly basketball card of all time.
What cards he has?
In December, he showed off a LeBron James RPA he paid $2.4 million for on Instagram. His one-of-one Justin Herbert rookie card, which he claims he purchased $550,000 for, was sold at a Goldin auction for $1.8 million.
He also has the finest current card, a Triple Logoman featuring James, Michael Jordan, and Kobe Bryant. Allen began collecting at seven and is a pillar of the hobby’s business history.
One that has allowed him to rub shoulders with some of the world’s most renowned individuals. He has broken boxes with Drake, knows where the restroom is in a Kardashian home and is pals with Logan Paul.
Dominguez’s debut performance
Dominguez has been the subject of near-unprecedented expectations. The parallels are plentiful, and the moniker is memorable. The Yankees granted him a franchise-record $5.1 million signing bonus, allocating 95% of their 2019-20 international bonus pool to the 16-year-old free agent.
Dominguez debuted in 2021 because COVID canceled the 2020 minor league season. Dominguez hit.252 with five home runs in 57 games between Rookie-level and Low-A.
He was no longer the top prospect for the Yankees. Dominguez was promoted to High-A before the 2022 MLB Futures Game and emerged as the focal focus of potential deals involving superstar outfielder Soto or ace Luis Castillo.
What is the expected future potential of Dominguez?
The potential of success in his MLB debut in 2024 was evident in his trade value, but Dominguez’s team will not reap the benefits for years, if at all.
Major league teams have traditionally assumed that risk. But, despite the hobby’s surprising volatility and an approaching recession, sports card collectors were investing hundreds of thousands of dollars.
Dominguez, who turns 20 in February, would need to become a multiple-time MLB All-Star for Shyne’s wager to pay off. That’s a big bet.
Everything revolves around timing. Some people gamble for the short term, while others gamble for a long time. And some are convinced that their man will be the next great thing.
Conclusion
Allen claims that one of his friends wants the card, a sign of the market’s ever-changing clientele. He’s a minority owner of a Major League Baseball team, and he texted Allen from his yacht off the Amalfi Coast. Though Allen claims he is unconcerned with the ups and downs of the market, he believes he could receive at least $600,000 for the Dominguez card if he wanted to. But he’s still hoping for more.
References
[New York Yankees prospect Jasson Dominguez…(.n.d) ] 4 Oct 2022 from ESPN link: https://www.espn.in/mlb/story/_/id/34720025/new-york-yankees-prospect-jasson-dominguez-stars-bold-new-world-sports-card-prospecting
