When will the price of hobby boxes come back down?
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I love ripping wax. It’s one of the joys in my life.
That feeling has only gotten stronger as I get to open packs with my family.
However, for the last couple of years it’s been difficult to open wax. Either we couldn’t find it as retail shelves were bare or prices were too inflated.
But with lockdowns over and life returning to a nomalcy that is closer to pre-pandemic, wax is much more available. Shelves at Target and Walmart are filled once again. Hobby stores have product even weeks after release dates.
Where does that leave the wax-ripping collectors?
Still wondering when prices are going to drop.
The problem is that hobby box prices haven’t changed much even though other factors within the hobby have.
The appetite doesn’t seem to be as great for ripping wax at higher prices anymore. The overall market is down. According to Card Ladder, nearly all indexes are down in the last six months with the decline only growing in more recent months.
Since the overall singles market is down, why doesn’t it feel like the price of wax is coming down with it?
Partially because the cost of product from the card companies is too high and margins for dealers are small. Dealers and LSC owners can’t drop prices too much or they will lose money.
Before 2022 Topps Stadium Club Baseball was released, pre-sales from hobby were anywhere from $130-$190 depending on the outlet.
Topps and Fanatics both released Stadium Club on their respective sites for $100, the price it has been the last couple of years, but less than hobby outlets. I don’t know how many units Topps and Fanatics had for sale, but it’s not a great look when the manufacturer is undercutting shops.
But unless you’re quick enough to buy any boxes from Topps, the cost of wax feels too high based on what you get back.
I’m not talking about value either.
I don’t sell cards. I’m not trying to make money off wax.
For me, the cost needs to equate to the experience.
Is this going to stop me from buying wax? Not altogether. But I am a bit more picky with what I buy and it seems other collectors feel the same way as select product begins to gather dust once again.
I spent $200 on Panini World Cup stickers. Guess I didn't help. But at $60 for a box, still a lesser expensive experience for me. The flagship Topps hobby box at $100 I look forward to again next year. Hope it doesn't go up.
Hi Sooz - Great write up and love your thoughts. I do think that wax pricing is correcting itself and the entire supply chain is lowering their prices to meet what the market demands in terms of price. As the manufacturers (like Panini & Topps & Fanatics), and the distributor (like Southern Hobby, Peach & GTS) lower their prices, the consumers will start to see those savings at the LCS. But let's keep in mind that the blame isn't all at the manufacturers or distributor's level - the sport's licensing fees, licensed patches and especially the autographs command a premium directly from the athletes and player's associations. This cost gets passed down the supply chain and ultimately to collectors like you and me.