In this new mini-series, the MarketScreener editorial team takes you inside an alternative investment that is as playful as it is unconventional. And to start, it is hard to ignore the enthusiasm around collectible cards, as the Pokémon frenzy has never seemed this strong.
When rarity has always been part of the deal
Magic was the first collectible card series to gain enormous value over time. Amongst the cards from the founding 1993 set, the famous Black Lotus (Black Lotus) has become a symbol, both for seasoned collectors and for the general public. Seen as one of the first cards to have truly appreciated over time, some editions now sell for several million dollars. Then, the collecting fever has pushed up prices across many hobbies, including very old sports cards, already widespread in the US in the 1900s.
In recent years, however, the spotlight has fixed on Pokémon cards. Specialist shops, resale of rare singles, still-sealed vintage products and even some recent releases: around the world, the ecosystem has become more structured. The price of a card depends on many criteria; notably, rarity, the popularity of the featured Pokémon, the design and demand tied to a specific set.
A true card exchange
While the most sought-after cards are now snapped up at specialist auctions, there are also platforms that make it possible to track their prices in real time. The Cardmarket website works like a true card exchange: you can consult a chart of the latest sales, follow price movements, or list your own copies for sale.
In this quest for perfection so dear to collectors, specialist players have established themselves in card authentication and grading. PSACard, a global benchmark in the field, receives the cards, examines them closely, then assigns a grade meant to reflect their condition. A perfect card earns a PSA 10; the presence of a manufacturing defect, an impact mark or a crease gradually lowers that score. Unsurprisingly, this assessment greatly influences a card's value on the secondary market.
Performance that does not come without trade-offs
For the numbers-minded, Pokémon cards have posted a cumulative return of about 3,821% since 2004, according to an index compiled by analytics firm Card Ladder, which tracked collectible-card values through August 2025. That result far exceeds the 483% gain recorded by the S&P 500 over the same period. Meta Platforms, one of the "Magnificent Seven”, has risen by about 1,844% since its stockmarket debut in 2012.
That said, comparing these two worlds requires great caution. Unlike stocks, which represent stakes in companies generating profits and dividends, collectible cards are "sterile” assets, resting on no tangible economic reality other than rarity and nostalgia. What is more, the performance shown by these indices masks a more complex reality: significant illiquidity, potentially high transaction costs and substantial volatility. While the S&P 500 offers standardized ownership, the card market remains a speculative arena where real-world returns are often far harder to capture than the charts suggest.
A booming activity
Buying sealed product, opening it and then reselling the rarest cards individually has become a real business for some, while the growing number of specialist shops reflects the rise of a market that is now firmly established. Somewhere between passion and investment, for more than 20 years card collecting has shown that strong demand endures in this universe.
