Panini Blockchain's week 3 release featured a Mickey Mantle Cut Auto, an Overpriced Zion Williamson One-of-One, and More Unique Gems.
by R.A. Rowell
Before we begin to analyze the auction results of the Panini Blockchain Week 3 cards, I have to address the obvious issue with these weeks auctions. Why, oh why, Panini, did you start the Zion Williamson card at $250,000? Don’t you realize now that $100,000 was an absurd starting point and that you just got lucky with that Kobe Bryant selling for $60,000 plus? Well, in Week 3, we will see yet another $60,000-plus sale. Beyond that, not so much.
Anyway, these 2019 Panini National Treasures Blockchain auctions haven’t been all that fun to cover as they are 5-day Dutch auctions that last from Monday to Friday starting an absurd high point. It’s actually a fair point to say that letting them drag out so long has actually HURT the sales of these cards. After all, these are one-of-ones of a brand new product and as we’ve seen already, some of these cards went significantly lower than they should have for the physical “gift” copy alone.
The good news is that the market seems pretty much set now, with all the action happening on the last day of the auctions. It doesn’t make for very exciting coverage as all the action pretty much happens all at once. At least with an eBay auction, you can see how many people are watching and how many bids are in - of course, with a Dutch auction you go backwards and the first bid wins, but still… this is boring as all fudge cakes.
After all, when you look at Week 3’s lineup of Panini National Treasures Blockchain cards, you’ll realize, if these were just ordinary one-of-one cards - without the blockchain - the hype would be REAL on these. But, because of how poorly Panini has handled these auctions - and the strange lack of marketing them much at all - you simply aren’t hearing much at all. That’s both good and bad; we’re seeing the first adopters of these cards get some major bargains with some of these cards.
I’m not saying that the Dutch auction format is a bad idea. It’s just that Panini set their expectations FAR too high, and they’ll be drawing out this painful process for the next couple of months. The format itself isn’t the problem. Also, they are doing NOTHING to hype the product outside of a blog post and a couple of tweets - far as I’ve seen. Also, people are bashing the whole Blockchain aspect, for reasons we covered in our first in-depth analysis of the Panini Blockchain cards from Weeks 1 and 2. The concept is very good, the execution has very much been.... not so good.
Anyway, we still have ten pretty interesting cards to look at here. I mean, look at this lineup:
You’re telling me that there’s a Mickey Mantle cut autograph in this week’s lineup and we haven’t heard any hype around it? Plus, even though the Packers were dismantled in the 2020 NFC Championship game, you have a dual patch auto of two Packers legends, and we haven’t heard about that, either?
Yes, this week’s focus is on Zion Williamson. As sick as tired as I’m sure many of us sports fans are hearing about Zion, he was a really impressive player before and I think he’ll have a pretty good NBA career. His brief first NBA game was fire, but it was in very limited minutes. This card is fine and should be valuable, but come on, Panini - a starting bid of $250,000? You have the GALL to set THAT high a price on these cards that besides the one outlier haven’t sold for over $5k? Sheesh.
Also, Neymar’s patch is just not all that interesting. The soccer cards have been sort of bland in general so far. The Maradona one was OK, but the other one was lacking. Come on, Panini, you can do better, and you HAVE done better! Not to mention, SOCCER IS THE NUMBER ONE SPORT IN THE WORLD!
Anyway, Eloy Jimenez has a silly button auto, which I suppose we could loosely call a “rookie card.” I’m not a fan of buttons as a patch, but apparently some people like them. Barry Sanders is an NFL legend. Paul George is going to be an NBA Hall of Famer.
OK, Wentz is overrated and Jones hasn’t impressed me yet. But the rest of that lineup is pretty solid. So, overall, this isn’t a bad week worth of cards.
But, seriously, how can this week 3 lineup NOT be getting attention? It should be all over the sports card news. Anyway, for the handful of people actually watching these Blockchain auctions, let’s see how they turned out.
Panini Blockchain Cards Week 3 Dutch Auction Results
Well, then, we did have our second five-figure sale in Week 3. No surprise our $60,816.33 man is Zion Williamson. Let’s look at all ten sales in order:
Zion Williamson: $60,816.33
Anthony Davis: $9,061.23
Brett Favre/Aaron Rodgers: $3,102.05
Daniel Jones: $3,102.05
Mickey Mantle: $3,102.05
Barry Sanders: $2,775.52
Paul George: $2,612.25
Carson Wentz: $2,367.36
Eloy Jimenez: $897.97
I’m not going to break them down quite to the same level as Weeks 1 and 2 because the market appears to be stabilizing on these cards to the point where people are clearly paying for the physical one-of-one. Until there’s some added benefit to the Blockchain digital copies, there simply won’t be that much extra paid for the right to that second non-tangible asset.
The Zion is by far the highest sale more based on the starting bid than I think it’s true value. However, the hype around his debut and subsequent immediate success was fuel for the fire here. Panini truly took advantage of the timing here. That being said, the market for Zion one-of-one cards has been quite nuts. So, the five-figure sale of this card is more reflective of the current melt-up of the market for Zion cards than a FOMO (Fear of Missing Out) moment.
Anthony Davis has been extremely successful for the Los Angeles Lakers. So, it’s probably no surprise that his card was the second-highest seller, a whopping $9,061. Of all 10 of the cards in Week 3, this is probably the highest overpay for the physical copy alone. The other eight I feel were fair prices, although a couple may have been on the low side - especially Eloy.
At the end of each week, we’ll continue to report on the Panini Blockchain card sales. After Week 10, once all 100 initial one-of-one Panin Blockchain National Treasures cards are sold, we’ll have more of a full breakdown of all the sales.
What do you think of how the market for these Panini Blockchain cards is developing? Do you see any bargains in the Week 3 card sales?
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R.A. Rowell is a collectibles enthusiast who comes from a long history of collecting trading cards in both sports and in Trading Card Games. He is passionate about educating the world about the future promise and benefits of digital collectibles, both on the blockchain and off.