A pandemic-driven boom in online sales of collectibles sent the global collectibles market to a record high in 2020. The global collectibles market was estimated to be worth $372 billion in 2020, and it is poised to grow at a 7 percent compound annual growth rate between 2021 and 2028 to reach $522 billion, according to data compiled by Market Decipher.
Alternative assets, such as collectibles, are hot commodities and are expected to remain so in the foreseeable future. Analysts project that the industry’s overall value will be a stunning $14 trillion by 2023. Compared with its valuation in 2021, that will translate to a 59 percent increase.
Private collectors’ holdings rose to $1.2t during the pandemic
One of the factors driving the collectibles market’s growth in recent years is the shift to online sales and the emergence of ecommerce sites. According to ArtsEconom