Dick's Sporting Goods invests in memorabilia for marketing

Recently, companies have shown a growing interest in buying valuable sports memorabilia. Last week, Dick's Sporting Goods purchased a Paul Skenes baseball card for $1.11 million. This follows a similar purchase made by UC Capital, which bought Shohei Ohtani's 50th home run ball for a record $4.392 million last fall. Both items symbolize historic achievements in baseball. The trend of companies buying memorabilia is not new. It dates back to 1927 when Babe Ruth was chasing his 60th home run. A store owner named Albert Warner paid $100 for that ball, which was later authenticated by Ruth himself. Warner capitalized on the excitement around Ruth's achievement by promoting both the ball and his store, ultimately boosting sales. Today, companies like Dick's Sporting Goods see these purchases as marketing opportunities. They aim to attract attention and foot traffic to their stores through collectible displays. Ed Stack, the executive chairman of Dick's, stated that the Skenes card celebrates talent and inspires future athletes. While some question the investment value of such cards, companies believe the marketing benefits can outweigh potential risks. Similar to comic book mogul Todd McFarlane's purchase of a famous ball in 1999, these sales draw public interest and drive engagement. Dick's plans to showcase the Skenes card in their stores as part of a new experience focused on trading cards and memorabilia.