PriceSpot
Pokémon cards have kept pace with Nvidia since 2019, says the CL50 index
According to Foro3D, Card Ladder's CL50 index has multiplied roughly 40 times since 2019. The index tracks the average price of a basket of collectable cards. Over the same period, Nvidia shares multiplied by 41. In the last three months the index rose more than 16 per cent, while the S&P 500 managed 3.3 per cent. Then there's the sale everyone keeps quoting: a Pikachu Illustrator graded PSA 10 went for 16.49 million dollars, a record certified by Guinness.
So the comparison is a chip maker at the centre of the AI boom against printed cardboard. We find that funny and a little unsettling.
What the CL50 actually tracks
Card Ladder builds the CL50 from a weighted basket of cards chosen for sales volume and liquidity. That's a sensible way to do it. The index follows cards that really do change hands, so a one-off auction curiosity can't skew it. It also means the index describes the top, liquid end of the hobby. The binder of bulk sitting in your loft isn't part of it.
When people read "40x" and then look at their own collection, they're comparing it with a small group of cards that are graded, in demand and easy to sell. Most collections don't look like that.
Two points on a slab label
Foro3D points out something every seller learns quickly: the grade decides the price. A PSA 10 can be worth ten times the same card at PSA 8. The artwork, the set and the print run are identical. The only difference is a number on the label.
Rarity adds to that. Limited print runs and misprints reduce supply, and at the high end scarce supply is a large part of what the buyer pays for. Fakes go wherever the money goes, so if you're buying anything serious raw, learn how to tell if a Pokémon card is fake first. If you want to see where the very top sits right now, our list of the most expensive cards today shows it.
Meanwhile, on Cardmarket this week
An index is abstract, so here are some real numbers. Based on the prices we track at PriceSpot, our week 44 report has a Rayquaza from EX Emerald jumping from 134.24 € to 466.09 €. Dark Blastoise from Legendary Collection went from 344.72 € to 449.07 €. A Pikachu from EX Holon Phantoms (78/110) currently sits at 408.34 €.
Those are big moves, and moves like that can reverse just as fast. A card that more than triples in a week usually hasn't found its new floor yet. The full list is in our weekly report on Pokémon cards rising and falling.
A safe haven, or stickers in the playground?
The story presents card collecting as a safe-haven asset for young millionaires, and then undercuts the idea itself. If a Pikachu is worth 16 million, the argument goes, your card portfolio can be as solid as an index fund, as long as you find someone willing to pay that much. The value depends on what the boldest buyer will pay. Foro3D says that sounds like financial strategy but looks a lot like swapping stickers in the playground.
We agree, with one caveat. An index fund gives you a price every second and a buyer at that price. A card gives you neither. Selling one means listing it, waiting, posting it and arguing about centring in the messages. Card Ladder builds the CL50 from liquid cards precisely because most cards aren't liquid.
A single record sale tells you about one card and one buyer. It tells you nothing about the holo you pulled in 2003.
How we read the 40x as collectors
We read it as a sign that the top of the hobby has had a remarkable run and that outside money has noticed. It says nothing about what's in your shoebox. A few things we'd keep in mind:
- Price your own card, not the index. Our guide on how much your Pokémon card is worth is a better place to start than any chart.
- Condition matters more than nostalgia. If a PSA 10 can be worth ten times a PSA 8, small flaws cost real money.
- Be wary of momentum. Sharp spikes like that Rayquaza tend to bring sellers out quickly.
- Buy cards you'd keep if the bold buyer never turns up. That's the only test that holds in a falling market.
We collect because we like the cards. If they keep pace with Nvidia, great. If they don't, we still get to look at the Dark Blastoise.
So what are yours worth?
Stories like this always send us back to the binder. If you want to know what you've got, PriceSpot lets you scan your cards for free, one after another, and see what they sell for on Cardmarket in each card's language. Every Monday we also publish the cards rising and falling most, if you like keeping an eye on the market.
News source: Foro3D
