Thieves are increasingly targeting Pokémon cards, with a recent smash-and-grab in Chicago resulting in a staggering $100,000 loss for a collectibles shop.
Why it matters: The rise in thefts of Pokémon cards reflects their growing value and demand, driven by cultural phenomena and economic factors.
On April 20, Elite Sports Cards in Chicago was broken into, with thieves stealing around $100,000 worth of Pokémon and sports cards, according to owner Ronnie Holiday.
This incident is part of a larger trend of high-stakes heists targeting Pokémon cards, which first entered the market in 1999.
The value of Pokémon cards has surged 200-300% over the past year, influenced by celebrity endorsements and economic shifts.
Driving the news: Surveillance footage captured at least two individuals smashing a window at Elite Sports Cards around 1:54 a.m. on April 20.
The thieves bypassed the cash register, heading straight for the high-end cards before fleeing the scene.
No injuries were reported, but Holiday expressed concern about the security of his store and plans to invest in costly upgrades.
Chicago police are investigating the incident, but no arrests have been made yet.
State of play: This burglary is not an isolated case; similar incidents have occurred across North America.
Three weeks prior, Vancouver Police reported five robberies involving a suspect who allegedly robbed individuals after arranging to sell Pokémon cards.
In February, three suspects stole tens of thousands of dollars worth of Pokémon cards from a collectibles store in Anaheim, California.
A New York City Pokémon card shop experienced an armed robbery earlier this year, resulting in over $110,000 in stolen merchandise and cash.
The big picture: The increasing value of Pokémon cards is reshaping the collectibles market.
Jared Mast, president of Mast Wealth Management Group, noted that the value of Pokémon cards has risen in three waves over the last decade.
The first wave was sparked by the release of the mobile game Pokémon Go in 2016, followed by a second surge in 2019 and 2020 due to celebrity interest.
The current spike is attributed to economic uncertainty and a shift toward investing in tangible assets.
What they're saying: Industry experts highlight the vulnerabilities of Pokémon cards as collectibles.
Mast explained that unlike unique items like diamonds, mass-produced Pokémon cards lack distinctive identifiers, making them easier to steal and resell.
"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.
He added that stolen cards often appear on online marketplaces or are regraded to create new identities for resale.
By the numbers: The monetary stakes involved in these heists are substantial.
Collectively, over $110,000 worth of merchandise was stolen during the New York City shop's armed robbery.
In the Chicago incident, the thieves escaped with approximately $100,000 in high-end cards.
Reports indicate that Pokémon card values have increased by up to 300% in just one year.
Between the lines: The surge in Pokémon card thefts raises concerns about safety in the collectibles market.
Local police departments, like Vancouver's, have begun offering safe meeting locations for buying and selling collectibles to mitigate risks.
Holiday expressed his frustration, stating, "You took away from my family, you took away from what I worked hard for every day."
The situation highlights the need for increased security measures in stores dealing with high-value collectibles.
What's next: As the demand for Pokémon cards continues to grow, so might the risks associated with their sale and storage.
Holiday plans to implement security upgrades, including replacing windows, which he estimates will be a costly endeavor.
Collectors and shop owners are urged to take precautions when conducting transactions, especially in light of recent thefts.
Authorities are working to apprehend suspects involved in these high-profile heists and restore safety in the collectibles market.