The coronavirus pandemic has kicked the trading card market into “overdrive,” according to Upper Deck President Jason Masherah. The lockdown has collectors from years past rummaging through their closets and reconnecting with the joy collections often bring, and they're coming back to the hobby in droves. On the latest episode of “SBJ Unpacks: The Road Ahead,” our Andrew Levin sits with Masherah to discuss not only the pandemic’s impact on the industry, but also Upper Deck’s exclusive deal with Alexis Lafreniere, the top pick in the 2020 NHL Draft.
On how Upper Deck’s deal with No. 1 overall NHL Draft pick Lafreniere came together:
Masherah: Like we do with all of our sports, we check out the young talent that’s out there and really pay attention to what’s going on. We became familiar with Alexis at a very young age going into Rimouski (a Quebec Major Junior Hockey League team) and with Team Canada. We reach out typically to their agent and see if there’s a fit there. A lot of times for us, it’s really important to have spokesmen for the company who are aligned with us as far as values and what they stand for, as well as to see if we can have a long-term relationship and really understand that when everybody does the job together it’s a long-term deal. In most cases, it’s just like family, like our relationships with Michael (Jordan), LeBron (James), Tiger (Woods) and Gretzky.
On negotiating with top players who are in their teens:
Masherah: Every athlete, every agent is a little bit different. What we have seen with our younger players when we have done this deal, whether it’s Ben Simmons or Connor McDavid or now Alexis, is these are our long-term views. It’s about partnering up with these guys when they’re young, they’re getting into the leagues, in this case in the CHL, and making sure that we’re aligned long term. It’s about building that brand and doing the right things from the very beginning, making sure that when their autographs hit the market customers know where to get them, that they’re authentic, that, in most cases, if they see something that’s not Upper Deck or Upper Deck authenticated branded that they’re not real, those are the things that affect the conversations.
On how the pandemic impacted the trading card market:
Masherah: The trading card market was pretty hot coming into the pandemic, and once everyone got stuck in their houses for a period of time people started going through their closets, their garages, digging through their collections and really embracing and reflecting back to the joy it gave them as kids. … A lot of people have come back, and it’s been really refreshing to see. That trend started about five years ago, but it’s really gone into overdrive in the last six months or so during the pandemic. As you’ve had more demand come into the market, the valuations on cards have definitely been driven up dramatically as people get back into the market and start to invest and collect the way they used to.
