2024 Collectibles Demand estimated at $594.2 Billion Revenue: Research by Market Decipher

PUNE, India, March 11, 2024 /PRNewswire/ -- 2024 Updated Report - "Collectibles Market Report, 2024–2034" has been released by market decipher with 50 new product categories. The new version covers 100+ collectible categories/subcategories. This is the most holistic research published on collectibles industry. Market Decipher is a company with a dedicated department engaged in research on rare/ luxury items and memorabilia. We have interviewed CXOs from 80+ collectibles companies during first quarter of 2024 (Jan. – Feb. & ongoing). All our market data and forecast has been revised with major updates in every product segment with cross-sectional country-wise demand.

Get research insights in detail: https://www.marketdecipher.com/report/collectibles-market

"Collectibles Market is estimated to reach $594.2 Billion by 2034. Grading and authentication services and tie-ups between collectible sellers and authenticating companies has witnessed a rise. The business arena of auction houses has proliferated and expanded to new sales channels. Trading and resale of collectibles and trading cards has created a huge secondary market in the U.S."

-  Rajesh Ranjan (Collectibles Research Head at Market Decipher)

Products Researched and Covered in our Report Scope

Recent Happenings:

Action Figurines-

• The collaboration between Moose Toys and MrBeast marks a significant milestone in the realm of action figure collectibles. With Moose Toys' reputation as an innovative force in the toy industry and MrBeast's status as a prominent digital creator and philanthropist, this exclusive partnership heralds the dawn of a new era in collectible toys. The announcement of the co-created brand, set to launch in Fall '24, has sent ripples of anticipation throughout the community of fans and "kidults" alike

Trading Cards

• With Fanatics' bold impact on the market, following its acquisition of Major League Baseball Topps in July 2023, coupled with the introduction of MLB Debut Patches and the emergence of NFT platforms like Candy Digital, the landscape of trading card collecting has undergone a profound transformation.

Vintage Car- 

• Over the past decade, vintage cars have witnessed a remarkable surge in value, outperforming traditional luxury assets such as wine, watches, and art. According to Knight Frank's 2023 wealth report, vintage cars have seen a staggering 185% increase in value, ranking second only to rare whiskies.
• Megadeals, like the $48 million sale of a 1962 Ferrari 250 GTO and the $149 million auction of a 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé, exemplify the escalating investment interest in classic automobiles. This surge in demand has prompted the establishment of specialized investment funds, such as the world's first "evergreen" fund by Italy's Azimut, targeting vintage vehicles valued at over 1 million euros each.

Watches

• The market for watch collectibles is experiencing a notable surge in growth, driven by a convergence of factors that underscore the evolving nature of luxury consumption and investment preferences. With the advent of digital ecosystems like Watches.io, which streamline the tracking and trading processes for luxury timepieces, the accessibility and appeal of watch collectibles have expanded beyond traditional circles.
• The global market for luxury watches has reached a valuation of $75 billion, with second-hand sales accounting for a substantial 30% share. This trend highlights a significant shift in consumer behavior, particularly among Gen Z and millennials, who increasingly view luxury watches not only as fashion statements but also as tangible assets with enduring value.

Sports Jersey

• With the advent of partnerships like the one between the National Basketball Association (NBA) and Sotheby's in October 2023, the landscape for acquiring game-worn jerseys has expanded, offering fans unprecedented access to iconic pieces of sporting history.
• The market's growth is evident in the staggering figures achieved at auctions. For instance, the record-breaking sale of Michael Jordan's Nike Air Jordan XIII sneakers for US$2.2 million and his jersey for US$10.1 million underscores the immense demand for items associated with legendary athletes. These prices reflect not only the financial value but also the emotional connection fans have with the players and their memorable moments on the court.

Toy

• With platforms like Mokeng (MOK) spearheading innovation and accessibility, the market has witnessed a surge in interest and participation. The attraction towards high-end toys and collectible statues has transcended traditional boundaries, captivating audiences across generations and cultures. This expansion is fuelled by the strategic partnerships forged between industry leaders like MOK, Hollywood Entertainment studios such as Stars Collective, and visionary investment firms like Hana Investment in February 2024. By leveraging synergies across entertainment, technology, and consumer engagement, these collaborations have unlocked new avenues for creativity and product development.

"Data on number of transactions for autographed collectibles is available for each category."

Market Data at a Glance (Selected Products)

Other Growing Markets in Collectibles Industry:

Toy Car Market

Luxury Watch Market

Jewellery Collectibles Market

Hollowware and Flatware Collectibles Market

Europe Collectibles Market

Collectibles Trading Resale Market

US Trading Cards Market

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About Market Decipher

Market Decipher is a market research and consultancy wing of Decipher Market Insights, involved in provision of market reports to organisations of varied sizes; small, large and medium. At Market Decipher, we concentrate on articulating relevant business policies conditional to the specific market domain for a sustainable growth. The services provided by us include syndicated research and custom research.

For more information, please visit:  https://www.marketdecipher.com/.

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SOURCE Market Decipher

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