Why Panini's most expensive WNBA release has left long-time collectors feeling disappointed

New York Times

a day ago

Under the harsh glare of breaker streaming cameras, Panini's Rookie Royalty boxes flashed across screens — gleaming promises of a new chapter in WNBA collecting. As rips went live, buyers clicked frantically to secure one of 429 unique break spots, yet when boxes were finally torn open, the spectacle felt hollow. Priced far beyond the means of many collectors who nurtured the league's rise, this supposedly premium release is hyper‑focused on a handful of second‑year players masquerading as rookies. With every breaker's audible groan as a non-Caitlin Clark card is pulled, I can't help but wonder if this is a hobby that's beginning to lose its soul.
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As a business professor, I understand better than most that the sports card hobby is, at its core, a market — and yet the ache I feel runs deeper than balance sheets. Panini launched its Dutch auction at a jaw‑dropping $30,000 per box containing just two cards, yet many boxes sold out around $4,000 — a number that, on paper, looks like a win for WNBA collectors. Each box is guaranteed to contain an on-card autograph of either Clark or Angel Reese and a Downtown or Kaboom insert of one of 12 players (including Clark and Reese).
The inclusion of on‑card autos, rather than the autographed stickers Panini usually affixes to WNBA cards, under premium brand names marks real progress for WNBA cards. And friends responded to my melancholy by pointing out that sales from these product breaks often exceed player salaries, so the real conversation should be about directing some of that revenue back to the athletes. Even if some buyers are merely chasing hype, the fact that we're talking millions of dollars in revenues and total card values ought to compel serious investment and more equitable distribution throughout women's sports.
✍️ Creating Hobby history 👀 Coming soon…#WhoDoYouCollect pic.twitter.com/t2k9sz4PoM
— Panini America (@PaniniAmerica) June 25, 2025
And yet, watching the breaks I just felt sad. It felt like a betrayal of all the progress WNBA collectors have fought to achieve. For years, WNBA devotees have lobbied for true premium offerings — products like National Treasures, an ultra‑premium hobby line featuring on‑card autographs and game‑used memorabilia that produces some of the most sought-after modern sports cards. What landed under the 'Rookie Royalty' banner, however, feels like a tacked‑on afterthought. I watched breakers frantically rush through player names on Downtowns and Kabooms they could barely pronounce or place, a stark reminder of how casually the WNBA's full story has been sidelined. The sadness isn't nostalgia though, it's indignation that an entire league's significance can be treated as collateral damage in the pursuit of short-term profit.
It's baffling, and frankly short‑sighted. As Panini watches other major licenses like the NFL and NBA slip away to rival Topps, the WNBA represented a prime avenue for sustainable growth. Instead of building a comprehensive premium line to deepen engagement and expand the market, they delivered a one‑off drop bearing the generally less valuable print-to-order Panini Instant branding in the cards' fine print. That choice isn't just disappointing for collectors, it's a flawed long‑term strategy that hinders the chance to turn the WNBA into a true cornerstone of their hobby portfolio.
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Panini's stance couldn't be more transparent. It seems to recognize the growing demand and a booming market for WNBA cards, and it's chosen to meet it with a premium‑priced release that highlights only a tiny subset of players, minimizes production costs, and is built for social media hype. Packaged with generic relics that aren't game‑used or player‑associated and sold at a price point that screams luxury, even though customers largely rejected the company's attempt to sell the product for tens of thousands of dollars. By co‑opting venerable product lines to peddle an empty façade of prestige, Rookie Royalty ultimately amounts to an afterthought cash grab.
But the implications run deeper than card values. When a company sidelines a league's history and all but a select few of its current players in favor of a hyper‑focused, profit‑centered release, it sends a message: the WNBA is only as valuable as its most marketable rookies. By contrast, NBA collectors enjoy a full roster of premium offerings — flagship lines like National Treasures, Flawless, and bespoke, curated sets like Topps' Mercury Victor Wembanyama — ensuring their stars are celebrated across multiple configurations, while the WNBA remains sidelined without a true, comprehensive marquee release. While Caitlin Clark did receive her own dedicated product last year, it was relegated to a low-end retail release. Panini's decision to confine its premium focus so tightly gives the impression of just how little faith it places in the league as a whole.
Panini had far better alternatives which would continue to develop the profitability of its WNBA license. It could have launched a fully fleshed‑out premium WNBA product, celebrating every franchise with on‑card autos and relics keyed to career milestones. Or, better yet, introduced a 'WNBA Chronicles' line, a single hobby release that blends parallels, inserts, and checklist designs from multiple flagship Panini brands—like Spectra, Mosaic, Contenders, and Crown Royale, so that these Rookie Royalty cards would become the chase targets within a broader, narrative‑driven set that includes more than just two cards per box. Either approach would have expanded the WNBA hobby market. The fact that Rookie Royalty carries the 'Panini Instant' label only underscores its origins as a quick turnaround, rather than a thoughtful tribute. Picture a Caitlin Clark 1/1 Flawless card, graded and encased by PSA with 'Panini Instant' on the label—a stark reminder that this release is more impulse play than enduring celebration.
Is Rookie Royalty a symptom of how companies view niche corners of the hobby, like the WNBA? Or does it herald a broader trend across the entire sports card market — where every product is engineered purely for viral moments, rather than genuine reverence that fosters collecting? Perhaps both. The result however is a widening chasm between short‑term speculation and long‑term stewardship: a world where prestige is measured in minute sell‑out times rather than the depth of connection collectors have with the game they love.
In either case, Panini's latest offering feels less like a celebration and more like a missed opportunity. Prestige cannot be conjured by scarcity alone, nor can respect be feigned through glittering packaging and screaming frat boys on live-selling platforms. For those of us who have championed women's basketball cards through leaner times, that truth aches more than the sight of an empty box.
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(Top image: Panini America)