Mark Cuban, sports greats Kevin Durant, Dwyane Wade, and Deshaun Watson, Bill Simmons and others have invested about $40 million of growth financing in Goldin Auctions, the latest rush of money into a memorabilia industry that has grown rapidly during the pandemic. Other investors in the round include actor Mark Wahlberg and music producer Timothy “Timbaland” Mosley.
Investor and Shark Tank celeb Cuban owns the NBA’s Dallas Mavericks. Simmons is the CEO of sports and culture website The Ringer. Anthony Pompliano, founder of hedge fund Morgan Creek Digital, is also an investor.
Founded by Ken Goldin in 2012, Goldin Auctions has become one of the largest auction houses for sports collectibles, trading cards and memorabilia. The company grossed $800,000 in its first year, and more than $100 million in 2020. To date, it has overseen more than $300 million in sales. Goldin Auctions said it will use the funding to invest in technology, operations and audience development and to enhance the experience for buyers and sellers on its platform. The investment comes amid record growth for the company and the collectibles industry, a market it said is valued at more than $10 billion in annual transactions.