Podcast Summary: The 'Veblen Effect': Why Collectibles Get MORE Desired As Prices Skyrocket (An Economic Secret)
Podcast: Trading Cards & Collectibles Podcast
Host: Ryan Alford (The Radcast Network)
Guest: Dan Jameson (CEO & Co-owner, Icons.com)
Date: November 18, 2025
Episode Overview
This episode dives deep into the fascinating world of sports memorabilia and collectibles, focusing on what makes certain items skyrocket in value and desirability as prices rise—a phenomenon known as "The Veblen Effect." Host Ryan Alford interviews Dan Jameson, CEO and co-owner of Icons.com, the world leader in signed soccer memorabilia, especially Lionel Messi items. Together, they discuss the psychological and economic underpinnings of collecting, behind-the-scenes stories from the memorabilia business, and what creates genuine scarcity and value in the industry.
Key Discussion Points & Insights
1. The Global Passion for Collecting
- Universal Nature
- Collecting "is totally universal," with Icons selling to 120 countries and 98% of sales outside the UK. (Dan Jameson, 04:16)
- Personal Stories
- Both guests share how childhood collecting—panini stickers for Dan, trading cards for Ryan—sparked lifelong interests and careers.
2. The Icons.com Journey
- Company Origins
- Icons.com began in 1999, just after Google, with 26 years in the business and a shift to a memorabilia focus under Dan's leadership. (02:16)
- Pivot to Ownership
- Dan started in marketing with major UK brands; acquired Icons with Edward Freeman after shifting focus from athlete websites to physical memorabilia. (08:36 – 11:38)
- Business Philosophy
- Dan emphasizes, "authenticity is everything," not just in products but in long-term relationships and business ethics. (29:10)
3. Sports & Culture: Why Football (Soccer)?
- Cultural Differences
- Soccer’s dominance globally vs. its complex relationship with US sports fans. Dan anticipates a tipping point in the US, helped by Messi’s presence and upcoming tournaments. (05:22)
4. Licensing, Partnerships & Product Range
- Official Partnerships
- "In 2010, we became FIFA's first ever licensee for the World Cup... we've really learned how to do it now." (12:11)
- Partnerships include Champions League, top clubs (Liverpool, PSG, Man City, Barcelona, etc.), and expanding into tennis with Carlos Alcaraz. (13:32)
- Product Lineup
- Primarily jerseys ("People want them, they stick them on the wall and they love them" – 14:54)
- Innovative items: signed LEGO stadium bricks, cards, special memorabilia. (15:41)
- Experimented with Messi card sets sold in Japan, which have become sought-after in the secondary market. (16:35 – 18:24)
5. Scarcity, Value & The Veblen Effect
- Messi Memorabilia Scarcity
- Icons has sold "about 50,000 [Messi jerseys] in total over two decades." Scarcity is intentional—contracts ensure Messi only signs a limited amount annually. (22:28)
- Comparison to Pele: "I think the ratio is probably about 8 to 1 in terms of value..." because Pele signed 2 million shirts, reducing scarcity. (23:01)
- Economic Principle
- Dan introduces "Veblen goods," where higher prices increase desirability: "The more expensive it gets, the more demand goes up, the more you want it." (25:24)
- Applied to collectibles: "You got to create that value with sort of scarcity marketing and... the skill of what we do." (26:15)
6. Insider Stories: Messi & Maradona
- Early Messi Partnership
- Started working with Messi at age 17: "You can already tell that this guy was going to be amazing." (19:53)
- Dan attended World Cup final in Qatar, witnessing Messi's win as the culmination of two decades’ work: "It seems like you're an overnight success, but that is like two decades of graft to get to that moment." (21:07)
- Maradona Anecdotes
- First major signing: drunken late-night trip to Maradona’s mother’s house. (27:36)
- Maradona’s ex-wife owned his name and managed his contracts. (29:06)
- During COVID, Maradona signed merchandise between surgery and passing away, with dramatic logistics in getting memorabilia safely to the UK. (29:10 – 32:47)
7. Business Expansion
- US Entry
- Icons.com now operates a US-based arm: "We sorted out a legal company in 48 hours, hired someone, got a distribution warehouse... we got a base in Illinois." (34:04)
- US-specific website and logistics for next-day shipping to American collectors.
Notable Quotes & Memorable Moments
- On Childhood Collecting:
- "As a kid, I collected panini stickers and now I collect footballers. I mean, it literally is what I did as a kid."
(Dan Jameson, 02:48)
- "As a kid, I collected panini stickers and now I collect footballers. I mean, it literally is what I did as a kid."
- On Messi's Scarcity:
- "Leo signs a contracted small amount every year, and supply and demand means the price goes up, but I prefer it that way... you can't make more money just by doing more of it."
(Dan Jameson, 23:01)
- "Leo signs a contracted small amount every year, and supply and demand means the price goes up, but I prefer it that way... you can't make more money just by doing more of it."
- On The Veblen Effect:
- "It's got an inverse demand curve. The more expensive it gets, the more demand goes up, the more you want it... and you got to create that value with sort of scarcity marketing and the skill of what we do."
(Dan Jameson, 25:24 – 26:15)
- "It's got an inverse demand curve. The more expensive it gets, the more demand goes up, the more you want it... and you got to create that value with sort of scarcity marketing and the skill of what we do."
- On Authenticity:
- "We always say authenticity is everything... but actually we're authentic as people. The people that work in Icons are straight, honest, work hard, do what they say."
(Dan Jameson, 29:10)
- "We always say authenticity is everything... but actually we're authentic as people. The people that work in Icons are straight, honest, work hard, do what they say."
- On The Drama of Collecting:
- (Regarding the Maradona shipment saga): "We eventually got it out of Argentina, arrived in the UK and then we got an email saying British Airways had lost it... It’s like Raiders of the Lost Ark... this is the greatest collection... Nearly killed me. But that’s the kind of lengths we go to..."
(Dan Jameson, 32:17 – 32:47)
- (Regarding the Maradona shipment saga): "We eventually got it out of Argentina, arrived in the UK and then we got an email saying British Airways had lost it... It’s like Raiders of the Lost Ark... this is the greatest collection... Nearly killed me. But that’s the kind of lengths we go to..."
Timestamps for Key Segments
| Timestamp | Segment | |-----------|----------------------------------------------------------------------------------| | 02:16 | Origins of Icons.com & Dan’s personal collecting story | | 05:22 | Soccer’s international popularity and US potential | | 12:11 | Licensing, partnerships, and club relationships | | 14:54 | Product lineup innovations: jerseys, LEGO, forays into cards | | 19:42 | 20-year relationship with Messi | | 22:28 | Numbers: How many Messi jerseys have been sold & scarcity discussion | | 25:24 | The Veblen Effect explained & its role in collectibles | | 27:36 | Maradona signing story and business relationship nuances | | 29:10 | Story of Maradona’s final signings and the critical importance of authenticity | | 34:04 | US business expansion and localized collectibles |
Final Thoughts & Further Info
Icons.com is expanding to the US, making their signed memorabilia even more accessible for American collectors. Fans can find out more at icons.com, which will automatically direct US visitors to the American site.
Dan’s philosophy: True scarcity, long-term relationships, and authenticity are the core drivers of the collectibles market’s value evolution.
Ryan's takeaway: Collecting is about stories, nostalgia, and connecting fans with tangible pieces of culture—and, as the Veblen Effect shows, sometimes the higher the price, the hotter the demand.