It is clear that sports are big business in America. Just look at the salaries of the top players and the attendance at major sporting events and you will see the wealth.
The annual revenues of the NFL, NBA and NHL are approximately $11 billion. This includes expenses such as paying average players anywhere from $1.25m (low end in the National Football League) up to almost $5 million for average players in the National Basketball Association.
Add to this the $52 billion in U.S. sports equipment annually and the $57 trillion on sports apparel, shoes and footwear and you can see how the money keeps on piling up. The numbers are staggering, regardless of what resource is used to define the sports market. The annual amount of money that sports brings to the U.S. economy can be estimated at $425 billion.
It should come as no surprise that there is money to be made in sports memorabilia. Every day, sports collectibles are making money for people all over the world.
Sports collectibles are very popular because they can be used for amateur, collegiate and professional sports. Miniature Oklahoma www.sunday999 Sooners football helmets are available for sale, as well as autographed hockey pucks signed by professional stars. Tiger Woods is an individual pro athlete who does not have a team. However, you can find more than 3000 items related to him on eBay every day. His personal line of golf apparel, The Tiger Woods Collection, sells hundreds of millions of dollars each year.
There are no hard numbers for sports collectibles. Therefore, it is safe to assume that all parties involved in the business of sports memorabilia are making money. It is also possible to assume that the numbers will continue growing.
The value of collectibles is affected by the popularity of an athlete or the rise or fall of a team’s success.
His merchandise was a hot commodity when Lance Armstrong was still racing in the Tour de France. Lance’s merchandise may still be popular in the cycling community today, but it isn’t moving as fast as it used to. This is also true for fallen stars such as Michael Vick, the Atlanta Falcon’s former star. His merchandise was taken off of store shelves. It is now available on eBay for pennies per dollar.
What are the latest trends in collectibles for sports? And how can collectors make money from collecting them? Experts say that trends change constantly. According to the National Basketball Association, sales of NBA Hardwood Classics jerseys has tripled over the past three years. NASCAR is one of the most popular sports in the country, with its popularity growing all over the country.
Online retail stores offer the unique advantage of being able move quickly to capitalize on the popularity and wins of sporting teams. The sale of collectibles and merchandise that a team has won, such as the Super Bowl or the NBA World Championship, skyrockets. Online retailers are often able to move faster than bricks-and-mortar counterparts. They can quickly post hot merchandise online and take advantage of the opportunity to strike while it’s hot.
A near immediate posting of Favre merchandise online was possible due to Green Bay’s recent trade of Brett Favre to New York Jets. Sales were quick for all kinds of New York Jets merchandise, including NFL coins and 24 karat-gold New York Jets.
The breadth and depth in the field is what fuels the memorabilia and sports collectibles industry. Street & Smith Sports Business Journal recently found that NFL licensed products are as popular with fans as college products. Both bring in over $2.5 billion annually.
Collectors of sports collectibles have a special meaning to the person who purchases them. Fans will pay $20 to get a ball cap from their favorite MLB team, or $100 for an authentic helmet featuring the logo of their favorite NFL team. They love their team and want a piece of it.
Collecting memorabilia from sports is like collecting art. It is more about the love of what you are buying than it is about how it will grow in value. Even collectibles and sports items, even those that aren’t considered collectibles at the time, can appreciate.
When a Montreal nine-man hockey team won the first Stanley Cup in 1893, nobody thought of saving a jersey. Although photos from that era show the jerseys in action, one of them has never been seen. Experts in sports say that if one of these jerseys turns up, it could fetch as high as $400,000 from the Hockey Hall of Fame in Toronto.
With appreciation dreams and a love for sport working in their favor, sports collectibles are sure to continue to be a big business just like the sports they represent. Officially licensed merchandise from college and professional sports teams in the United States will sell for more than $10 billion this fiscal year, according to those leagues and retailers who are lucky enough to be in this hot field.