Pokémon heists point to high demand for collectible cards
Thieves carrying out high-stakes heists have recently targeted a highly valued item that's not cash or jewelry: Pokémon cards, highlighting what appears to be an ever-growing demand for merchandise from the popular childhood card game.
On Monday, April 20, Elite Sports Cards in Chicago was broken into in a smash-and-grab heist resulting in the loss of $100,000 of merchandise, Ronnie Holloway, the owner of the sports card shop told ABC Chicago station WLS-TV.
The Chicago incident is just the latest in a string of heists resulting in the theft of the popular playing cards, which hit the market for the first time in 1999 followed by decades of fanfare.
Just three weeks ago, Vancouver Police reported five incidents involving a man allegedly robbing people after arranging to meet with him, to sell the suspect Pokémon cards. Authorities said they have arrested a suspect in the case.
In Anaheim, California, three suspects are accused of stealing tens of thousands of dollars worth of Pokémon cards from a collectibles store in February, according to Los Angeles ABC station KABC-TV.
A popular Pokémon card shop in New York City reported an armed robbery, sharing details on social media earlier this year.
"We had a trio of armed robbers lock 40+ people in the store, point guns in faces, and smash and grab merchandise," wrote the shop on Instagram, along with videos of the incident.
A spokesperson for the New York Police Department confirmed the incident to ABC News, and noted the thieves took merchandise and cash.
According to the New York Times, items totaling over $110,000 were taken in the January incident. ABC News has reached out to the store for additional details.
Jared Mast, president of Mast Wealth Management Group, which deals in alternative investments including collectibles like Pokémon cards, told ABC News the value of Pokémon cards has risen sharply over the past year.
"I would say, collectively, over the last 12 months, things have gone up anywhere from two to 300%," Mast said of the sharp spike in value.
Mast explained that Pokémon card value has risen in three different waves over the last decade. First, in 2016 with the arrival of Pokémon Go, the popular mobile game based on the playing cards, then again in 2019 and 2020, as a generation of celebrities like Logan Paul invested in the collectibles.
Mast says the third bump, happening now, is indicative of a new economic reality driven, in part, by new technology.
"More people are starting to realize that they need to find their own source of income," Mast said, citing the loss of jobs due to artificial intelligence (AI).
He also said that as people feel uncertain about the economy, they tend to gravitate towards "hard assets," such as Pokémon cards, that they can hold onto for value and resale.
Mast pointed to the trend of "debasement of currency" adding that "people are flocking towards hard assets."
Regarding Pokémon's specific appeal he said, "The fact that it's the biggest IP on earth. Like, it's kind of hard to fight it."
Mast also noted there are inherent qualities to Pokémon cards which can make them vulnerable to theft. Unlike a valuable gem like a diamond, which may have well-documented imperfection marks, mass-printed cards don't share the same identifying quality.
"Technically, there's no imperfections or anything on there, and there's nothing that makes it stand out any differently than any other one," Mast said. "So if you took it from me, you could argue that it's not even the same one."
Mast said once stolen, cards will often appear on online marketplaces, or be resubmitted for grading, creating an entirely new identity for the card to then be resold.
At least one police station has offered guidance for safe ways to buy and sell collectibles.
Vancouver Police offers a safe location outside their headquarters where buyers and sellers can meet, according to a police report posted on social media.
