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While "Traded" or "Update" sets were originally conceived to deal with players who changed teams, they became increasingly important for a reason. In order to fill out a 132-card set (the number of cards that fit on a single sheet of the uncut cardboard used in the production process), it would contain a number of rookie players who had just reached the major leagues and not previously appeared on a card. They also included a few single cards of players who previously appeared in the regular set on a multi-player "prospects" card; one notable example is the 1982 Topps Traded Cal Ripken, Jr.. Since a "rookie card" is typically the most valuable for any given player, the companies now competed to be the first to produce a card of players who might be future stars. Increasingly, they also included highly touted minor league players who had yet to play in the major leagues.
For example, Topps obtained a license to produce cards featuring the U.S. Olympic baseball team and thus produced the first card of Mark McGwire prior to his promotion to the major league level, and one that would become quite valuable to collectors for a time. This card from the 1984 squad appeared in Topps's regular 1985 set, but by the next Olympic cycle the team's cards had been migrated to the "Traded" set. As a further step in this race, Topps resurrected its former competitor Bowman as a subsidiary brand in 1989, with Bowman sets similarly chosen to include a lot of young players with bright prospects.
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Also beginning in 1989 with the entry of Upper Deck into the market, card companies began to develop higher-end cards using improved technology. Following Topps's example, other manufacturers now began to diversify their product lines into different sets, each catering to a different niche of the market. The initial Topps effort at producing a premium line of cards, in 1991, was called Stadium Club. Topps continued adding more sets and trying to distinguish them from each other, as did its competitors. The resulting glut of different baseball sets caused the MLBPA to take drastic measures as the market for them deteriorated. The union announced that for 2006, licenses would only be granted to Topps and Upper Deck, the number of different products would be limited, and players would not appear on cards before reaching the major leagues.
Although most of its products were distributed through retail stores and hobby shops, Topps also attempted to establish itself online, where a significant secondary market for sports cards was developing. Working in partnership with eBay, Topps launched a new brand of sports cards called etopps in December 2000. These cards are sold exclusively online through individual "IPOs" (or, "Initial Player Offering") in which the card is offered for usually a week at the IPO price. The quantity sold depends on how many people offer to buy, but is limited to a certain maximum. After a sale, the cards are held in a climate-controlled warehouse unless the buyer requests delivery, and the cards can be traded online without changing hands except in the virtual sense.
Topps also acquired ThePit.com, a startup company that earlier in 2000 had launched a site for online stock-market style card trading. The purchase was for .7 million cash in August 2001 after Topps had earlier committed to invest in a round of venture capital financing for the company. This undertaking was not very successful, however, and Topps unloaded the site on Naxcom in January 2006. The amount of the transaction was not disclosed, but Topps charged a .7 million after-tax loss on its books in connection with the sale.
Topps grabbed national attention early in 2007 when the new card of Yankees' shortstop Derek Jeter was found to have been altered to include an image of Mickey Mantle standing in the dugout and President George W. Bush walking through the stands.
Topps in the Modern Baseball Card Industry
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