If you want to cash in on sports collectibles without the labor of searching for unique mementos, meet Joel Platt.
The 82-year-old’s collection of sports memorabilia items — all locked in a high-security vault in Florida — has gone public.
After opening the Sports Immortals Museum in 1995, Platt is now selling shares of his collection through IPOs for individual items on collectable.com.
“The IPO sold out, but shares have begun trading at prices based on investor demand, via a secondary market [on the site] — similar to that of Wall Street,” said Ezra Levine, CEO of Collectable. “It’s one way for investors to realize profits.”
Platt sourced his collection of more than one million items by creating relationships with sports moguls, traveling the world, and understanding which mementos will carry value.
He started collecting when he was four years old. His parents got him a Babe Ruth baseball card when he was bedridden after suffering injuries from a gasoline explosion.
Platt’s collection includes:
- Michael Jordan’s 1984 game-used rookie jersey, valued at $242,000. The IPO sold out in under 15 minutes.
- Muhammad Ali’s “Rumble in the Jungle” championship belt, valued at $428,000. The IPO sold out in 24 hours.
- A signed Wilt Chamberlain high school jersey from 1954, valued at $316,000. The IPO sold out in 15 minutes.
While Platt’s entire collection is not yet on Collectable, he plans to add new pieces soon.