After major companies reported strong earnings and new economic data points to a rebound in consumer spending, U.S. People walk by the New York Stock Exchange on Apin New York City. Petrozzo suggested part of the allure to collectibles is bragging rights. At any moment, there are more than 100 assets actively trading on Rally. Beyond IPOs, Rally also provides a trading window that lets existing investors sell their positions. Rally says it has more than 250,000 users and completed 230 offerings on its platform last year alone. “They’re putting their money where their mouth is - and they’re not putting it in an index fund.” “You have these young, really knowledgeable, tech-enabled investors who would rather be a little early to the party than late,” said Petrozzo. Rally says its average investor is just 28 years old. Launched in late 2017 and based in New York, Rally has hosted stock-market style IPOs of everything from a Wayne Gretzky rookie card ($800,000) and a signed piece of hardwood flooring from Kobe Bryant’s 2016 farewell game ($800,000) to a dinosaur skull ($285,000).
'There's never been a time like this': Wall Street is piling into trading cards as prices soar (Photo by Adam Glanzman/MLB Photos via Getty Images) Adam Glanzman/MLB Photos/Getty Images MESA, AZ - FEBRUARY 18: A young fan plays with baseball cards of the Chicago Cubs during a workout after Photo Day on Tuesday, Februat Sloan Park in Mesa, Arizona. “The collectibles market blew up during the pandemic,” said Nicholas Colas, co-founder of DataTrek Research. And the explosion of digital certificates for art and collectibles known as non-fungible tokens, or NFTs, has been a major recent trend. A LeBron James rookie card sold for a record $5.2 million earlier this week. The IPO comes during a surge of interest in collectibles, with everything from art to sneakers to sports cards skyrocketing in value. “We set up a marketplace that brings the best and most unique assets to the people who really care about them,” Rob Petrozzo, Rally’s co-founder, said in an interview. Nicholas Colas, co-founder of DataTrek Research If you pick it because it’s cool, you will probably lose money.” If you pick your collectible right, you can make a lot of money. Each share will cost just $25, making it a $2 million initial offering. It was previously displayed at the National Constitution Center in Philadelphia. The item is extremely rare, one of just 20 copies from that period that are in private hands. Rally, a trading app for classic cars, baseball cards and other memorabilia, told CNN Business that next month it will offer 80,000 shares to the public of a copy of the Declaration of Independence printed in July 1776. And unlike other rare items up for sale, you don’t have to be a millionaire to own a piece of it. A copy of the Declaration of Independence is hitting the sizzling collectibles market, just in time for July 4th.
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