Morning, Collectors.

Our Tuesday newsletter, Mail Day, does a nice job of toeing the line between being useful and ‘for entertainment purposes only’. I don’t always know which category the email will fall into, and I’ll admit to sometimes being surprised by the reader reaction.

This week’s falls into that camp. J.R. Fickle wrote about collecting inexpensive dinosaur bones and meteorite fragments, not a topic I thought many would care about. But the reaction blew me away- if you haven’t read the piece yet, check it out here. And then do like Fickle and buy a bunch of $7 Mosasaur teeth, which should display nicely on the mantel next to your baseball cards and comic books.

A series of arbitration complaints have been filed against Whatnot, alleging its live “breaks” and repack products function as an unregulated gambling system. The filing cites lack of safeguards, potential fraud, and weak seller oversight, including claims of shill bidding and insider knowledge. Whatnot denies the allegations, stating breaks are a longstanding hobby format and that it enforces strict rules on its platform. Will similar cases be brought against other breaking and repack companies? And will the sports card space ever be regulated?

If you read this newsletter the week Bam Adebayo scored 83 points, you would have seen me speculate that the high prices for Bam cards would come crashing down once NBA fans remembered that he’s not a superstar, nor a scorer. This piece from Ben Burrows confirms that speculation, as the scoring performance sparked a rapid spike in his card market, with 5,000+ eBay sales in one day and 33 sales over $1,000 in the following week. Activity then quickly cooled, with prices and volume dropping back toward normal levels within days after the initial surge. As Ben wrote, if you want in on the Bam market, maybe wait a few more days.

Just like the Bam market mentioned above, the discovery of a 2013 Bowman Chrome Aaron Judge Superfractor Auto 1/1 highlights how high-end cards move through the hobby. From price discovery on marketplaces and data platforms, to dealer networks, live-stream exposure, grading, and finally major auctions, rare cards follow a defined path. This example ultimately sold for over $5M, reflecting the market-driven process behind elite collectibles. A good piece from Sam Goodman’s Cardboard & Capital series.

Magnus Walker is known as much for his hair and beard as he is for being a Porsche supercollector. And now he’s selling some of those cars but presumably keeping the locks, a risky move! Walker is auctioning 18 Porsches and ~140 memorabilia lots via RM Sotheby’s (with no reserve) as he looks to downsize ahead of turning 60. Highlights span early short-wheelbase 911s through a rare 996 GT2, with estimates from ~$10K to ~$250K. If we had the funds (and better mastery of a manual gearshift), we’d toss in a bid for his British Racing Green 1966 911. Chef’s kiss!

The global art market grew 4% to $59.6B in 2025, signaling a return to growth, but underlying conditions remain uneven. Dealers reported fewer buyers (avg. 57, lowest since 2021) and rising costs, with 38% seeing lower profits. Growth skewed toward the low and high ends, while the mid-market stagnated, which, FWIW, seems to be happening elsewhere in the collectibles industry, including sports cards.

This one blew me away. The Cyberpunk Trading Card Game launched on Kickstarter and quickly set records, reaching $5M faster than any campaign in platform history after crashing the site and surpassing its funding goal in minutes (it’s now nearing $9M). Built around the Cyberpunk 2077 universe, the game features a 7-tier rarity system and targets the growing anime-style TCG market with a more mature audience focus. Given how many backers this project has, we’re interested to see what the team does with all of the cash. Has a new TCG mega-franchise emerged?