Collector Nation Podcast Summary

Episode: Understanding Card Value: Grades, Data, and Demand with Mike Baker and Brian Lutden
Date: February 20, 2026

Episode Overview

In this episode, host Ryan Alford sits down with Mike Baker (founder of NBA Authentic, a grading company, and former lead PSA grader) and Brian Lutden (Ludex app, hobby veteran) to dive deep into the ever-evolving world of trading card value. They discuss the current state of grading, the impact of secondary markets, the pros and cons of consolidation among grading companies, the role of AI in the future of grading, and the effects of headline auction sales on collectors. The conversation blends industry insight, anecdotes from the field, and plenty of candid hobby talk.

Key Discussion Points and Insights

1. Industry Relationships & Trust

• The hosts and guests reflect on their longstanding relationships and mutual respect within the hobby.
• Mike Baker’s influence and mentorship in the space are praised.
  • [01:51] Brian Lutden: “Mike was the first person I met in this industry...He would answer my questions, and we’ve had a friendship ever since. So he has a — I’m a big fan of Mike, and Ludex is a big fan of NBA Authentic.”

2. NBA Authentic Update

• Mike shares NBA Authentic's rapid growth since its “tipping point” at the 2025 National in Chicago.
• Recent milestones: new office, operational NBA vault, and expansion to onsite encapsulation at four shows this year.
• Commitment to practical innovation and increased transparency in grading.
  • [03:24] Mike Baker: “After the National in ‘25… We kind of kept the momentum going... started our own vault... testing and just keeping momentum going is the key.”

3. Transparency in Grading & the Value of Choice

• Ryan and Mike stress the importance of consumers understanding how their cards are graded.
• Baker emphasizes the significance of transparency and greater notes (even for lower-value cards).
  • [06:11] Mike Baker: “If you’re more knowledgeable about how we do things and what to expect, you’re going to feel more comfortable spending more money with us.”
• Discussion on the value of competition among grading companies, not just for differentiation but for keeping standards high.

4. Industry Consolidation & Its Impact

• Concerns and hopes about PSA’s acquisition of SGC and the acquisition of Beckett.
• Fear that consolidation limits choices for collectors, though Mike notes it could benefit strong independents like NBA.
  • [08:53] Mike Baker: "Competition is good for everybody... If you’re likable and you’re doing good things, people vibe with that."

5. AI in Grading: Potential & Limitations

• All agree that human review is still essential. AI is an efficient tool, but not yet a complete replacement for expert eyes.
  • [09:31] Mike Baker: “I’m more like AI-assisted than I am AI doing it all on its own. Someday I’m sure it'll get there, but having a human touch the card is important.”
• AI seen as a way to augment efficiency and accuracy but not as a magic bullet.

Memorable Moment

• [10:28] Ryan Alford: “I'm an AI-assisted husband… got it written on my T-shirts and everything. My wife, you know, knows it.”

6. Effects of Big Auction Headlines

• Recent headline: Pikachu card sells for $16.5 million (Logan Paul).
• These sales are viewed as a double-edged sword: they bring attention but can mislead casual collectors about typical card values.
  • [12:16] Brian Lutden: “Yes, I think they are [misleading]... But all headline news is good news for the industry.”
  • [12:49] Mike Baker: “Big boy money brings big boy adjectives... more awareness and it doesn’t hurt at all.”

7. Market Accessibility and the Future of Vintage

• Are vintage cards becoming inaccessible? The answer depends on perspective—and market cycles.
• The influx of young collectors and “big boy money” changes what’s “normal.”
  • [14:14] Mike Baker: “There was a time when $10,000 is a lot of money, you know, and now... you’ll see a young 20-something kid, 8-year-olds carrying around 10k cases.”

8. Resilience and Innovation in the Hobby

• Brian Lutden points out the entrepreneurial and innovative spirit of the collectibles industry.
  • [15:19] Brian Lutden: “Warren Buffett said you'll never know who's skinny dipping until the tide goes out... There's the entrepreneurial ship and the way people think is like no other industry… there are these little micro-niches that are all really powerful.”

9. What Drives Success for NBA Authentic

• Mike enjoys the daily growth, engagement with collectors, and seeing the brand approach “that glass ceiling.”
  • [16:21] Mike Baker: “It would be a real grind if... I was coming in every day and thinking... this is one of those days. I'm not having Mondays on a Monday, you know.”

10. The Nature of Grading Decisions

• When to grade: It depends on value, motivation (personal collection, resale), and trends.

• New generation is savvy: even young kids at shows debate which grader to use.

  • [19:33] Mike Baker: “There was a time where $10 is a lot of money to grade a card... Now it's like if a cheeseburger is $20… 7 or 8-year-old kids know the nuances and collector clubs… crazy.”

• For raw cards, standardized grading provides confidence for buyers/sellers, but nothing beats in-person, expert inspection.

  • [21:17] Mike Baker: “It would be challenging for me if I was at a card show… to just buy a raw card… You have to get in the right environment, use the right tools graders use…”

Notable Quotes & Memorable Moments

• [06:11] Mike Baker: “It’s not that much to add a grader note… and go to the Heat Map and look… on the upper left corner, there’s the hit. This is why I graded the way it graded… gives you insight into what the grader’s thinking.”
• [08:53] Mike Baker: “Competition is good for everybody… If you're likable and you're doing good things, people vibe with that.”
• [12:49] Mike Baker: “Big boy money brings big boy adjectives which brings big boy advertising and more awareness, and it doesn’t hurt at all.”
• [15:19] Brian Lutden: “Warren Buffett said you'll never know who's skinny dipping until the tide goes out… There’s entrepreneurialship like no other industry.”
• [19:33] Mike Baker: “7 or 8-year-old kids now, it’s like the next generation already knows about grading… what cards should go in for grading.”
• [21:17] Mike Baker: “I always tell people… use what the graders have. Use the ruler, grab a loop, inspect those cards. Don’t use show light as your determining factor.”

Timestamps of Important Segments

• [01:51] — How Mike influenced Brian and the importance of community
• [03:24] — NBA Authentic recent growth and industry momentum
• [06:11] — The push for transparency and practical grading notes
• [08:20] — Thoughts on grading company consolidation
• [09:31] — Perspectives on AI in card grading
• [12:16] — The impact of headline auction results on collector perceptions
• [14:14] — Is vintage still accessible? How the market has shifted
• [15:19] — Hobby innovation, micro-niches, and entrepreneurial energy
• [16:21] — What motivates Mike Baker and NBA Authentic’s growth
• [19:33] — Kids and grading: new generation of collectors
• [21:17] — Practical tips for evaluating cards at shows

Closing Thoughts

Mike Baker will return as a recurring expert guest, promising regular updates and industry insights. The hosts and their guest cap the episode with laughter, plans for future hobby domination, and emphasis on continued innovation, transparency, and education in card collecting.

Social Handles:

• NBADiamond.com
• Instagram: @NBADiamonds
• Ludex App: App Store
• Collector Nation: Collectornation.com, Collector Nation App