Pokemon Cards Become Alternative Assets: Higher Returns, But With Higher Risks

Pokemon trading cards are no longer just childhood souvenirs. Some of the rarest copies are now treated as alternative investment assets, and in certain periods they have generated returns that have exceeded the performance of the S&P 500 index, according to an analysis cited by CNBC.

Data provided by Card Ladder shows that: during the pandemic boom, but also in a new wave of growth in 2025, the Pokemon card market recorded significant gains; these performances exceeded the average annual return of 10%-12% of the US stock market over the long term. However, the comparison has important limitations: the stock market has a history of decades; the collectibles market is more recent and much more volatile.

• What determines value: rarity and condition

Prices are mainly influenced by: the extreme rarity of some books; the state of preservation; the demand from very wealthy collectors. The quality assessment is carried out by specialized companies such as Professional Sports Authenticator (PSA), on a scale of 1 to 10. The differences can be huge: a book rated with a score of 10 can be worth $ 100,000; the same book, in poor condition, can reach only 1%-2% of this value.

• Spectacular records and the interest of billionaires

A landmark example is the Pikachu Illustrator book, owned by Logan Paul, which was valued at over $ 16 million, setting a record in the collectibles market. According to Ken Goldin, founder of the Goldin auction house: a small number of collectors try to acquire the rarest copies; these books are then withdrawn from circulation for very long periods;

some may never be resold again during the current generation.

• The pandemic boom and the celebrity effect

Interest in these assets has exploded during the pandemic: spending on non-sports books increased by about 350% between 2020 and 2025, according to Circana; the phenomenon has been amplified by the involvement of celebrities such as Post Malone, Steve Aoki and Kevin O'Leary.

Analysts warn that: prices are strongly influenced by hype; liquidity is low compared to financial markets; the risk of corrections is high.

Unlike stocks, these assets: do not generate cash flows;

do not have a stable long-term history; depend almost exclusively on demand and the perception of value.