The year in collectibles: Are high-end cards propping up market?

As we flip the calendar to 2026, cllct is assessing the current state of the hobby.

We've assembled a panel of the top experts in the industry to recap some of the biggest trends of the past 12 months — both the good and the troubling.

Plus, we've looked into our crystal ball to try to forecast what lies ahead in 2026.

In the ninth installment of our two-week series, we look at the impact high-end sales are having on the card market.

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(Answers have been lightly edited for brevity and clarity. Questions were distributed before Collectors' acquisition of Beckett on Dec. 15.)

Is the card market being propped up by the high-end?

Rob Bigler, CEO, TCGplayer:

At TCGplayer, our focus is on the fans playing trading card games and the local game stores that are the heart of the hobby’s success. Players are going to local game stores for their weekly Commander night and Pokémon league nights. They are opening packs and building decks while engaging with a majority of the cards that are printed, and playing with each other. The community is passionate and powers the hobby.

Brian Dwyer, president, REA:

Just like in an auction, you need the underbidders as much as you need the winning bidders. It’s the same when looking at the card market.

Obviously, the high-end results are making the news and playing a key part in getting bigger investors and collectors involved, but the rest of the market is equally important and where a great number of collectors are comfortable and having a great time collecting.

Elizabeth Gruene, GM of pop culture, PSA:

There are tons of new collectors coming in who are collecting lower-end items and the items they love.

David Hunt, president, Hunt Auctions:

I do not believe this is the case. I have actually been really encouraged to see so many young people enjoy collecting. Yes, some are only doing so to chase the valuable cards and make money. But to some degree, that occurred in the 1980s as well — the pursuit of Don Mattingly rookie cards was similar to today's chase for valuable insert cards.

I do believe card companies, dealers, and auction houses all have a responsibility to offer lower- and middle-tier items to ensure overall hobby presence continues rather than only focusing on the high-end materials.

Adam Ireland, VP and general manager of global collectibles, eBay:

High-end cards attract attention, but they don’t define the entire market. The strength of the hobby comes from participation across price points, with everyday collectors driving consistent activity alongside high-end transactions. That balance is what keeps the market resilient as trends shift.

Chris Ivy, director of sports auctions, Heritage Auctions:

High-end collectibles are certainly a driver of the market because the prices they generate can grab the headlines and the attention of the masses, potentially leading to new buyers.

While that's true, I have never seen a time in our hobby when there has been more depth in the lower- to mid-range of the vintage market. It is most evident in the lower grade vintage cards, where the number of buyers can appear virtually limitless at times. Why? Because that is the level where most collectors can play.

That is also why this segment of the market is less volatile. In my opinion, the market was far more dominated by the high-end material 20-25 years ago. The interest in top-grade cards was very strong at that time, but there wasn’t nearly as much interest in cards that fell into the bottom half of the grading scale. Today, for classic cards, the entire range of grades receives plenty of action.

Ultra-modern is a different story, largely because of the attention being paid to the type of “lottery ticket” hunting noted. There is so much love being paid to the limited-production products that the base cards often get tossed aside. The limited cards are where nearly all the perceived value lies. The irony is that the base cards are what can be collected in a traditional sense since they exist in meaningful quantities.

Conversely, even if you have the financial wherewithal to do it, it can be hard to build a collection of 1-of-1s. It’s not about right and wrong, but this area of the market is more aptly described as trophy hunting than typical collecting.

Susan Lulgjuraj, senior marketing manager, CGC Cards:

Much of the marketing we see features high-end because it is what gets people talking, even those outside of the collectible space.

Any time something captures attention, others will try to replicate that, which always leads back to big dollar signs. The dream of an attic find or pulling a big card pushes people to think maybe they could be next.

Jason Masherah, president, Upper Deck:

I don’t necessarily think it’s being propped up by the high-end. I believe we're seeing more and more mid-tier or lower-end products being positioned or perceived at higher levels than they probably should be.

The current aggressive speculation in the hobby is driving prices up for everyone, which isn’t a bad thing until loyal collectors can no longer afford it.

Speculation is always fun, even necessary, but when the hobby is consumed by potential monetary value rather than the fun and love of collecting, it can create instability that eventually hurts the everyday collector.

Evan Parker, founder, Mantel:

The overall market isn't as tied to the high-end as some people believe. An Ohtani card selling for six or seven figures has no impact on the value of the average Ohtani floating around the hobby, and little impact on enticing people to start collecting.

There are cards in the high-end that are propping up the rest of the high-end market, but I don't think it impacts 99% of people who buy cards.

Matt Quinn, vice president, CGC Cards:

Generally, in any collectible space, the high-end cards set the market trends. With such a big focus on modern TCG collecting, that trend is slightly disrupted as the sheer volume of transactions for modern cards occurs far more frequently than the occasional sale of a grail.

Claire Shelton, head of video games, PSA:

There’s a perception that’s the case, but if you dive deeper, there’s a very healthy volume of graded games being sold in the $100-$500 range on a daily basis across auction sites and selling platforms. These examples are the bedrock of the hobby as they represent the accessible options for collectors

Nat Turner, CEO, Collectors:

Absolutely not. It doesn’t hurt, but that’s wrong to suggest.

The year in collectibles: Are high-end cards propping up market?

Million-dollar cards get all the headlines, but how are they driving the market?

Is the card market being propped up by the high-end?