News
Goldin Auctions sold to Collectors Holdings amid record sales, red-hot industry
Collectors Holdings, LP announced Thursday that it has acquired Goldin Auctions, one of the leading marketplaces for sports collectibles and trading cards.
Amid a historic boom for the industry, Goldin has enjoyed record sales this year, setting new marks through its monthly auctions and completing more than $200 million in sales.
Collectors Holdings LP, which is owned by a group of investors led by Collectors Universe chairman Nat Turner and New York Mets owner Steve Cohen, is a holding company dedicated to investing in and growing the collectibles industry. It focuses on developing tools and services to better enable seamless participation for hobbyists as well as new enthusiasts and alternative investors.
According to Collectors Holdings, the collectibles market is now valued at more than $400 billion in annual sales. The company is committed to supporting the maturation of the industry by making key investments, including in scalable, modern infrastructure and R&D, Collectors Holdings said in a news release.
Collectors Holdings also owns Collectors Universe, a collectible authentication and grading business taken private earlier this year. Collectors Universe also operates PSA and PCGS, leading trading card and coin authentication and grading companies based in Santa Ana, Calif.
Each of the businesses under Collectors Holdings will continue to operate as independent companies with no changes to their existing operations. The company says PSA and PCGS will continue to work with and support all auction houses, just as Goldin Auctions will continue to work with all trusted services to grade and authenticate rare and valuable cards and collectibles.
The leadership structure of each of the companies will remain the same with trading card pioneer and Goldin Auctions Founder and Executive Chairman Ken Goldin signing a multi-year agreement to remain in his role while also retaining his ownership stake in the business.
Ross Hoffman, who recently joined Goldin as CEO, will also remain in his position. Goldin Auctions will soon announce the first new services resulting from these investments.
“We are incredibly excited to join Ken, Ross and the other amazing team members at Goldin Auctions,” said Turner, executive chairman of Collectors Holdings. “While Goldin Auctions will continue to operate independently, we all share the same vision of using innovative technology to enhance and grow the industry for the benefit of all."
“This is my 40th year collecting and selling cards and I still absolutely love coming to work every day,” Ken Goldin said. “Everyone in the hobby knows about the explosive growth we’re seeing as new collectors have flocked in, including a younger generation and international buyers. There’s no slowing down and we have a lot planned that we know every collector is going to love. Stay tuned!”
