The Boom of Collectibles

In recent years, the market for collectibles has experienced tremendous growth, driven by an increasing number of collectors and a growing interest in unique and rare items. Collectibles have become more than just a hobby, with some items fetching millions of dollars at auctions. Here are some key statistics that highlight the booming market for collectibles.

According to a report by Art Basel and UBS, the global art market reached $64.1 billion in 2019, up 6% from the previous year. The report also revealed that the number of high-net-worth collectors (individuals with more than $1 million in investable assets) increased by 6% in 2019, indicating a growing appetite for collectibles among the wealthy.

The collectible market is not limited to just art, but also encompasses a wide range of categories such as rare coins, cards, stamps, sports memorabilia, vintage cars, and even sneakers. In fact, the global sneaker market is estimated to be worth $80 billion by 2025, with rare and limited edition sneakers selling for tens of thousands of dollars.

The rise of online marketplaces such as BiDR TV, eBay and StockX has also made it easier for collectors to buy and sell collectibles. The global online marketplace for art and antiques is expected to reach $13.3 billion by 2022, according to a report by The Art Market.

Moreover, the COVID-19 pandemic has further fueled the demand for collectibles as people spend more time at home and seek out new hobbies. The online marketplace for sports memorabilia and trading cards grew by 142% in 2020, according to a report by eBay.

In conclusion, the market for collectibles is growing at an unprecedented rate, with increasing numbers of collectors and high-net-worth individuals driving demand for rare and unique items. With the rise of online marketplaces and the impact of the pandemic, the collectibles market is likely to continue to grow in the coming years, offering new opportunities for investors and collectors alike.