Kumari Shreya
Among those who take an interest in the world of collectibles, Ken Goldin’s name is often spoken with much respect. His eye for valuables, combined with his determination to be the one to allow interested parties to acquire them, has allowed the businessman to forge close bonds with some of the most well-known people from across the world. His work is well documented in Netflix’s ‘King of Collectibles: The Goldin Touch‘ as the reality show sheds light on his method of working as well as on precisely just how lucrative his business is.
How Does Ken Goldin Earn His Money?
From a very young age, Ken has had an interest in the collectibles business and everything related to the same. This led him to join The George Washington University School of Business in 1983, only to enroll at Drexel University in 1985. He graduated from the latter with a Bachelor’s degree in General Business Administration and Management. Though it was before that, while he was still a student, that he kickstarted his career. He and his father established The Score Board Inc., a company specializing in trading cards, in 1986, and he became its CEO.
Ken completed his studies at Drexel University in 1987 and remained an integral part of The Score Board Inc. until 1997. We specify 1997 because that’s when he parted ways with the company owing to some issues, only to launch Goldin Sports Inc. in January 1998 in Florida and again take up the mantle of CEO. As of writing, he continues to be a part of this organization. However, it was not until January 2012 that Ken founded Goldin Auctions in order to truly utilize his expertise when it came to collectibles and business — it includes not just memorabilia from the sports industry but also pop culture and historical artifacts.
As of writing, Goldin Auctions continues to thrive under the leadership of its proud founder, who is a life-long collector himself. It apparently has annual sales of more than $300 million and primarily deals with sports and entertainment collectibles. Thanks to their superb work, the company is the official auction house for organizations like the Naismith Basketball Hall of Fame, the Major League Baseball Players Alumni Association, the Jackie Robinson Foundation, and the Babe Ruth Museum. Additionally, Ken serves as a part of the Philadelphia Museum of Sports’ Board of Directors and is the Chairman of Camcare Charitable Foundation. In fact, per reports, Ken has sold memorabilia worth more than $1.3 billion over the course of his career.
Ken Goldin’s Net Worth
To understand Ken Goldin’s net worth, one must take a look at his company’s business model and earnings. According to the organization itself, they make about $300 million in sales each year. The company’s website further suggests that they take an average commission on items worth $10,000 to $249,999, though a collectible worth more than the latter figure will have a commission that is decided between them and the client. The % of this commission is believed to be around 20%, meaning if an item is sold for 400,000, they make $80,000.
This means that Goldin Auctions makes $60 million in sales each year. Additionally, Ken is the owner of not one but two companies, with an average business owner making about $100,000 each year. However, considering his global success, decades-long career, the fact he has to run a business, his investments, and his being a collector himself, we are inclined to believe his accumulated wealth is quite different from his yearly revenue. Keeping all these factors in mind, we estimate Ken Goldin’s net worth to be at least about $75 million.
Read More: Is Netflix’s King of Collectibles Scripted or Real?
