Jason Masherah, President of Upper Deck, and moves from hobby momentum into the business mechanics behind what collectors are feeling right now.
We start with a straight question: how real is the US hockey card market, and where is the growth coming from? Jason explains why Upper Deck is focused on expanding hockey’s footprint in the United States, how the Certified Diamond Dealer ecosystem helps them measure shop health, and what changed since 2017 with programs designed to help stores upgrade, expand to multiple locations, and build stronger communities.
From there, we hit a fun CDD storyline: the player appearance giveaway, why those events matter for collectors and kids, and why Jason still gets anxiety about players flaking because it reflects on the brand and the shop hosting.
Then we get into the Olympics angle, including an update on an Olympic licensed Team Canada Tim Hortons product and a massive chase concept tied to a golden goal moment that hockey fans still remember vividly.
Next comes a topic everybody argues about: unopened wax pricing. Jason breaks down what’s actually driving higher prices, including labor and material costs, inflation, and how pricing behavior differs across sports. He also draws a hard line on something he believes in: collectors should still be able to buy and rip a real hobby box without being forced into breaks as the only realistic option.
We also dig into the current hobby upcycle. Jason shares why he thinks this era is different from the early 90s, why Gen X returning matters, and how serial numbering changed the psychology of collecting. Then a great sidebar: should everything be serial numbered, or does mystery help certain chase cards become lore?
We close with a clear discussion about consolidation and “monopolies” in the hobby. Jason compares grading dominance versus exclusive league licenses, explains why those are not the same problem, and talks about what would actually need to happen for competition to return in certain sports.
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