Insurance costs and risks associated with keeping a multiple-owner collection have caused CardTarget.com to begin liquidating its holdings of vintage sports cards.
It was a unique concept.
Fans of high grade vintage baseball cards gathering on a website to buy ‘shares’ of cards they wouldn’t likely be able to afford themselves. The idea attracted enough interest to spawn the purchase over 50 cards in two years with CardTarget’s partial shares market members buying and selling their shares online. None of the members ever got to see the cards in which they were investing, but that didn’t those who embraced the concept.
However, the idea was also stymied by unforeseen issues and last week, the site posted a notice announcing the market would be closing.
Properly insuring the collection became an issue, with costs becoming prohibitive. There were risks as well with physically maintaining a collection of high value sports cards.
In a post on the company’s site, it was announced that the 30+ lots in the group’s portfolio, including a T206 Nap Lajoie PSA 9 and a T206 Iron Man McGinnity (SGC 96) valued at over $28,000 combined, would be opened to purchase offers. After that, it’s likely the remaining cards will be liquidated in a major auction.
CardTarget began in 2003 as an eTopps market and continues to offer buying, selling and trading of the brand.