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COLLECTIBLES

How Nostalgia and Innovation Have Made Topps Unbeatable

Now, more than ever, people have the opportunity to collect in ways previously never imaginable.

BY EMILY CEGIELSKI

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COLLECTIBLES

BBack in July, before trading card giant Topps lost

exclusivity with the MLB and mutually ended its

SPAC with Mudrick Capital, the company took over Citi Field for an entire evening, its logo displayed on the Mets’ jumbotron and plastered around the stadium. The air was full of excitement as 30 or so baseball card collectors filed past security and up to the VIP area for cocktails, nibbles and networking, ahead of a much-anticipated dinner. Despite the intricately designed baseball card centerpieces and the decadent food—a gorgeously fresh Caesar salad, the option of equally mouthwatering chicken or short rib and a rich chocolatey dessert—the main stars of this meal were MLB Hall of Famers Randy Johnson and Mike Piazza, who joined halfway through for an intimate Q&A session.

The event was part of Topps TranscendentCollection, one of the mostexclusive baseball card collections everproduced. Priced at $25,000 and limitedto 50 cases per year, each collectioncomes with a coveted invitation to wineand dine with baseball greats—an ideathat came about as the Topps teampondered what an “ultimate product”would look like without having to takeprice points into consideration.

“We started talking about what theultimate product would look like…if Iopened up a box of trading cards, andmy favorite player was in the box ofcards,” Clay Luraschi, vice presidentof product development at Topps, toldWorth. “We can’t do that. But how aboutwe put an invite in there where you canmeet the player. And then, this kindof like fantasy product came about…How do you get the player even closer?You bring the player to the fan. That’swhere the concept is kind of crucial.”

Launched in 2016, Topps’ first TranscendentCollection event, which tookplace the next year, featured formerCubs player Kris Bryant straight off theteam’s first World Series win after 108years—and just like that, the event becamea must-attend affair for baseballcard collectors and fans worldwide. Itwas at this first Transcendent gatheringthat baseball card collector andCEO of Brand Vending Products ScottJochim met his best friend.

“It was an amazing feeling—we’reseated at the same table, we’re sharingthis experience together,” Jochimexplained. “Kris Bryant walks throughthe door, and we’re just awestruck.We’re business owners. We’re leadersof industry, and we’re awestruck. Oneof the World Series winners walksthrough the door and we’re like, ‘Oh,wow!’ And he sits down at our table,and that bonded us. It was the mostamazing thing. So, that group of peopleat the table, I’m still friends with,and we travel every year to events likethese.”

The feelings of community, nostalgiaand togetherness were runningdeep at this most recent Topps Transcendentevent in July. After having

One of the nation’s most extensive collections of historic baseball cards was sold at auction for $21.5 million, and a frenzy of high-tech, next-gen traders seemingly turned the collectibles into commodities overnight.

been delayed due to the pandemic, attendees seemed overjoyed to be back with their buddies, sorting through packs of baseball cards and reminiscing over past sports moments. However, despite the negative impact COVID had on in-person events, the pandemic has actually been credited with creating a boom in the trading card market. This summer, one of the nation’s most extensive collections of historic baseball cards was sold at auction for $21.5 million, and a frenzy of high-tech, next-gen traders seemingly turned the collectibles into commodities overnight.

Although many recent headlines around post-pandemic baseball card trading have indicated otherwise, correlation does not imply causation. In fact, Topps had seen an uptick well before COVID hit, according to Luraschi. “The pandemic obviously added a different layer,” the Topps VP explained. “A lot of people went up into their parents’ attics and down into their basements to look for their old cards. Also, a lot of parents were looking for parent-child activities. And with the tie into sports, it made for nice entertainment while you were at home.”

“People were sports starved,” he continued. “And when you don’t have sports, you start thinking about, ‘OK. Well, when we watched sports, who were our heroes? Who did we follow? What were the moments that we appreciated, enjoyed?’ And Topps has been all about that. That’s what we’re doing, we capture those moments. Topps is a great tool to reconnect with your favorite moments in the past.”

And while baseball cards might be riding a bull market at the moment, they shouldn’t be considered an alternative asset, like jewelry or artwork, that will necessarily appreciate in value over time. As Investopedia puts it: “A collectible is an illiquid, taxed investment that produces no income and can lose its value if you drop it. If you are going to buy one, make sure it is one you will be happy to own forever, rather than counting on some big money sale in the future.”

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“It’s also different because, depending on how the player performs, the perceived value of that trading card changes,” Luraschi said. “So, for example, if player X hits a home run, you see activity around it. And just going back to the whole [idea of] like ‘value for dollar saved’ or ‘value for just because you appreciate it.’ We don’t push anything because we encourage people to collect how they want to collect. If you just make great products that are collectable, people have a choice on how they want to collect. Like I said earlier, whether it’s a parent-child activity, just trying to collect the set, if you have your favorite card and you want to encase it and keep it in a drawer, so have you. But we want to encourage all types of collecting.”

Now, more than ever, people have the opportunity to collect in ways previously never imaginable. From collaborations with street artists to experimenting with cards that include pieces of jerseys in them, Topps has been continually innovating and stepping up its game for the past 70 years—while continuing to capture moments and connect collectors with some of their favorite memories.

“Topps allowed me to, in a sense, enjoy being an adult,” Jochim explained. “You reflect on what it was like to be a kid again. It allows me to empower, I guess, even in my toy factory, knowing that I’m making a difference. That’s exciting for me, this is fun. This is what I get to do as an adult. I get to be a kid again, and Topps allows me to do that.”

“People were sports starved. And when you don’t have sports, you start thinking about, ‘OK. Well, when we watched sports, who were our heroes? Who did we follow? What were the moments that we appreciated? And Topps has bee all about

that.” —CLAY LURASCHI

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