Goldin opportunity in collectibles
Mets owner Steve Cohen’s high-end collectibles auction house Goldin is looking to go mainstream by opening its own online marketplace to compete with the likes of eBay.
The new platform combines an e-commerce site with authentication and grading services, along with a physical vault to store the items, in an effort to streamline the selling process.
The collectibles boom has attracted all kinds of investors in recent years, with the growing interest in alternative assets like trading cards and sneakers luring funds from companies including Amazon and Fanatics.
Goldin was acquired by an investment group led by hedge fund billionaire Cohen in 2021, adding to his growing collectibles empire that includes Collectors Holdings and Professional Sports Authenticator, a leading card-grading service. Also among the family of companies is Genamint, a Stony Brook-based startup acquired in 2021. Genamint uses artificial intelligence to grade the quality of trading cards.
Goldin is best known for its curated auctions of rare collectibles, such as a $3.6 million Kobe Bryant rookie jersey. As part of the push for more customers, it will start offering weekly auctions for more accessible products, starting at $5.
“There’s a big opportunity when you’ve got such organic growth and a lot of people who should be collecting who don’t,” Goldin chief executive Ross Hoffman said. “It’s a hobby for some. It’s a profession for others.”