Debate began almost immediately following Babe Ruth’s legendary “called shot” during Game 3 of the 1932 World Series in Chicago’s Wrigley Field. 

Did he really point toward the center-field bleachers to predict the trajectory of his go-ahead home run blast, or was he gesturing toward the opposing pitcher as part of an ongoing grudge between the Yankees and the Cubs?

Or, was it an incidental wave while trash-talking the opposing bench and home-field fans, who mercilessly jeered The Babe and (reportedly) pelted him with lemons as he manned left field throughout the game?

Nearly a full century later, unyielding opinions exist on all sides of this argument, yet one thing remains crystal clear: Ruth’s called shot remains one of the most debated, referenced, mimicked, and storied moments in all of sports history.

As if to cement this fact, the grey New York Yankees Jersey worn by Ruth during this game — a historic piece of sports memorabilia that sold for $940,000 in 2005 — was auctioned off in 2024 for a record $24.12 million. This makes it by far the most expensive sports collectible ever sold at auction, nearly doubling the 1952 Topps Mickey Mantle card that sold for $12.6 million in 2022.

These jaw-dropping numbers underscore a growing trend. Sports memorabilia and collectibles are no longer just a way for fans to feel closer to the sports and the players they love. They present serious investment opportunities.

As iconic items like Ruth’s jersey and Mantle’s rookie card shatter records, they’re proving that sports collectibles can yield massive returns that rival traditional investment markets. And, it’s becoming increasingly easier for everyday fans to capitalize. 

A Bullish Market for Sports Memorabilia

To say the popularity of sports memorabilia and trading cards is “growing” may actually be understating the current market. With a projected compound annual growth rate (CAGR) of 22.1%, “bullish” may be a more accurate term.

According to an updated report by Market Decipher, the market — with an estimated value of $33 billion heading into 2025 — is expected to top $271 billion over the next decade.

The report's authors attribute this growth, which surged during the COVID-19 pandemic, to the market’s long-term sustainability. They credit digitalization and the convenience of accessing collectibles through trusted online platforms as key factors driving this trend.

“Sports memorabilia isn’t exclusively to the wealthy,” they wrote. “Modern platforms offer authentic items from recent events, making the hobby accessible to a broader audience.”

Wealthy investors, however, have begun to recognize that sports memorabilia offers a unique opportunity to diversify their portfolios. Much like investments in fine art or antiques, high-value collectibles have the potential to hold or even increase in value over time, providing a stable alternative to more volatile investments.

By putting money into iconic pieces of sports history, investors are not only preserving cultural artifacts but also creating financial safeguards that may outlast economic fluctuations. According to Chris Ivy, director of sports at Heritage Auctions, these pieces also offered investment potential that just wasn’t there during recent times of rising inflation.

“People felt that traditional investments like Wall Street were pretty maxed out, so they started looking at alternative assets,” he said in an interview with the Robb Report.

This blend of passion and profit continues to drive the bullish outlook on the memorabilia market, making it a compelling choice for those looking to balance their portfolios with tangible assets that tell a story.

Sports Memorabilia Offers Hefty Returns on Investment

Take the record-breaking sale of Babe Ruth’s called shot jersey, for example. Originally bought in 2005 for just under $1 million, the investment returned more than 13 times its purchase price in August of 2024.

If an investment of that size had been made in the S&P 500 back in 2005, the investor would have yielded around $6.35 million — about half the $12.6 made on the jersey at auction.

A similar story could be told about Michael Jordan’s famous “Flu Shoes.”

The black and red size 13 Nike Air Jordans worn during Game 5 of the 1997 NBA Finals, during which His Airness famously scored 38 points while battling food poisoning, were auctioned for $104,000 in 2013. Ten years later, they again sold at auction, this time for $1.38 million — nearly triple the S&P growth during the passing decade.

While record-breaking sales like these capture headlines and dazzle investors with their extraordinary returns, they don’t tell the whole story of the sports memorabilia market. These high-profile items may dominate the spotlight, but they’re just the tip of the iceberg in a thriving ecosystem that includes countless opportunities for everyday collectors.

The fact is, you don’t need millions of dollars to benefit from the market’s meteoric rise. There’s plenty of room for collectors with more modest budgets to invest strategically and see meaningful gains. And, there are more places they can go (such as Pristine Auction and other reputable auction sites) to bid on their favorite pieces of sports history.

After all, the beauty of a booming market is that its effects often ripple outward, creating opportunities across all types and levels of collectors. While only select pieces from sports history may fetch millions, their sales elevate interest and demand for related items — from autographs and trading cards to game-used equipment.

“High tide raises all boats,” Ivy said in an ESPN interview following the record-setting “Called Shot” jersey sale. “I think more people are going to be interested in the hobby.”

Get Started Investing in Sports Collectibles

While investing in sports memorabilia can sometimes feel like a game reserved for the ultra-wealthy, the truth is you don’t need deep pockets to get started. With the market continuing to expand and players like Shohei Ohtani and Patrick Mahomes making sports history before our eyes, there’s a place for collectors at all levels — from long-term investors to home team fanatics.

For those looking to enter the investment game more thoughtfully and gradually, a few simple strategies can make all the difference. Here are five tips to help you navigate the market with confidence.

Focus on Authenticity and Quality

With sports memorabilia, authenticity is critical. Always buy items from reputable sellers or through credible platforms that provide certificates of authenticity or use advanced verification technologies.

Don’t be duped. Counterfeit items are common, and even small signs of inauthenticity can drastically reduce an item’s value.

Also, seek out items that are in pristine condition or which have been professionally graded. Whether autographs, player cards, or game-used items, these collectibles are more likely to appreciate in value.

Research the Athlete and Historical Context

Collectibles linked to iconic athletes or significant moments in sports history — finding both in a single item is the Holy Grail — tend to hold greater value. Memorabilia from GOAT (greatest of all time) athletes like Ruth, Jordan, or Serena Williams will likely remain in higher demand due to their lasting legacy.

In addition, always try to fully understand the significance of the items you’re looking to purchase. Does it tell a story or conjure lasting images from history? A jersey worn during a record-breaking game or a trading card from a rookie season, for instance, has more long-term apparel than items with less context.

Start Small and Build Gradually

You don’t need millions to begin investing in sports memorabilia and collectibles, and you certainly don’t need to duke it out with fans in the outfield bleachers for that one-in-a-million home run ball.

If you’re new to the game, start with more accessible items like autographed cards, signed balls, or limited-edition collectibles. These can still yield significant returns as the market grows.

Starting small and building a collection over time enables you to spread out costs and strategically invest profits from smaller sales into higher-value items.

Stay Updated on Market Trends

Like all other markets, the sports memorabilia market is influenced by trends. This may involve changing sports seasons, the fluctuating popularity of certain athletes, and anniversaries of iconic moments.

Staying up to date on these trends can help you make more timely investments and sales. Do this by monitoring auction results, following experts and their analyses, and participating in collector communities to gain insights into where the market is headed.

Diversify Within the Memorabilia Market

We get it — you love the Boston Red Sox and you hope to one day fill your basement man cave with BoSox memorabilia. This is an awesome reason to collect, but your focus may be too narrow as part of a wider investment strategy.

If you truly want these investments to pay off, don’t put all your eggs in one basket. Diversify your investments across different types of memorabilia, such as trading cards, game-used equipment, autographs, and vintage items.

Also, be open to investing in items related to players, teams, and moments that challenge your sensibilities as a fan. This helps reduce risk and increases the likelihood of finding a high-value niche.

Finally, consider items from rising athletes or sports that are gaining in popularity (think Caitlin Clark at the WNBA) as these can provide unexpected growth opportunities.