Kevin O’Leary has his eyes on a new alternative market: collectibles.
Parading a Louis Vuitton Labubu he acquired on the set of Shark Tank, the investor told CNBC the collectibles asset class may have some staying power.
“It’s not flash in the pan,” O’Leary said.
Apart from Labubus, O’Leary also mentioned collectible sports cards could possibly be the next big alternative investment. After studying the past eight years of the market, O’Leary found that between $380 million and $400 million worth of the cards are trading monthly.
“These are baseball cards, or F1 cards, or basketball cards; they’re trading for a million, $2 million, $3 million, $4 million, and it reminds me so much of what was happening in modern art and contemporary art 20 years ago,” he said.
O’Leary noted that while fathers and sons have been collecting sports cards for 50 years in the U.S., someone’s dusty baseball card collection could now be a prized set of collectibles potentially worth millions.
“That market really intrigues me,” said O’Leary. “It sort of captures what this Labubu vibe is all about, except you can see—there’s a platform called Card Ladder—you’re going to find cards on there for millions of dollars that are appreciating, in some cases, better than the S&P 500.”
