The Buyback Discount
Atlanta clinches, the labor clock keeps running, and two MVP races the card market still does not fully believe
Allen Hamric
September 26, 2026
Inside the Vault The sports card newsletter for collectors who want real intel, not hype. | Issue #24 September 26, 2026 newsletter.dugoutvault.app |
The Braves clinched the NL East last Sunday in Houston, their seventh division title in nine years, and the Wild Card Series starts Tuesday. On Thursday, Pete Crow-Armstrong stole his 40th base at Wrigley, the seventh 40-40 season in MLB history, and the Cubs clinched a playoff spot the same afternoon. So October is here. The labor fight has been quiet in public this week, but quiet is not the same as progress, and the calendar keeps running toward December 2 whether anybody talks or not.
That calendar is what Market Pulse is about this week: every date between now and Opening Day that matters for your cards, in one table. Then the fun part. Topps will hand out store credit for PCA and Yordan Alvarez Chrome cards if they win MVP, the sportsbooks say they will, and eBay is still pricing those cards like there is a real chance they won't. If you need the labor background, our MLB labor primer has it.
Quick labor check-in first. The last new proposal I can find came in late August, when the league added weekly roster locks, a 14-pitcher limit and two free agency "quiet periods" to its proposal, all contingent on the players taking a cap. Bruce Meyer called the quiet periods "a game of musical chairs pitting player vs. player" (CBS Sports). An ESPN survey of players found 16 firmly against a cap and 5 willing to talk. Sportsbooks have a lockout at -1100, about a 92% implied chance (Oddspedia, Sept. 16).
So plan around the lockout. Here is the offseason on one page.
| Date | What happens | Why a collector cares |
|---|---|---|
| Sun., Sept. 27 | Regular season ends | MVP ballots are due before the postseason starts |
| Sept. 29 – Oct. 31 | Postseason, World Series Oct. 23–31 | Last live baseball catalyst until spring |
| Oct. 14 | 2026 Topps Update ships | Last flagship product before the CBA expires |
| November | MVPs announced, Topps buyback opens | See The Card Worth Knowing below |
| Dec. 1, 11:59 p.m. ET | CBA expires | Signings and trades freeze if owners lock out |
| Jan. 31, 2027 | MVP buyback window closes | Falls in the middle of any lockout |
| Mar. 24, 2027 | Scheduled Opening Day | Earliest full Opening Day in league history |
Sources: MLB.com postseason schedule; Forbes, Sept. 21, 2026; BBWAA voting FAQ; topps.com; Topps MVP Buyback rules; CBS Sports, July 16, 2026. The 2026 award announcement dates have not been set.
Mike Yastrzemski hit a three-run homer in the sixth, Martin Pérez, a non-roster guy who got designated for assignment in April, started the clincher, and Atlanta beat Houston 4-2 on September 20 to lock up the division (MLB.com). Walt Weiss did that in his first year as manager, with four starting pitchers hurt before Opening Day.
Atlanta was 93-65 entering Thursday, six up on Philadelphia (CBS Sports, Sept. 24). Milwaukee and Los Angeles have the byes, so the Braves are the three seed and host the third wild card in a best-of-three at Truist starting Tuesday. The Cubs clinched Thursday with a 2-1 win over Miami, and they entered the day tied with Philadelphia, one game behind San Diego, for the wild card spots. Chicago holds the tiebreaker over both and finishes with three games in Boston, including a Friday doubleheader. Finish first and they host at Wrigley. Finish third and they are coming to Atlanta (Chicago Sun-Times, Sept. 24).
This one is two players and one program. Topps is running its Chrome MVP Buyback again: once the 2026 MVPs are named in November, you can trade your 2026 Topps Chrome cards of either winner for store credit at a fixed price, at a participating hobby shop or by mail through partners like Dave & Adam's. Base cards get $20. Refractors get $40. Numbered parallels get $100, or $200 if the print run is under 100. The window closes January 31, 2027 (Topps).
45 / 40 HR / SB, 40-40 on Sept. 24 | 9.9 bWAR | .949 OPS, 157 OPS+ |
Stats: Baseball-Reference, accessed Sept. 25, 2026 (.280/.373/.575, 119 runs in 159 games). He stole No. 40 in the first inning Thursday against Miami, joining Canseco, Bonds, A-Rod, Soriano, Acuña and Ohtani, and the Cubs clinched a playoff spot the same afternoon (Chicago Sun-Times, Sept. 24). He got all 38 first-place votes in MLB.com's final MVP poll.
.313 Batting average | 1.027 OPS | 179 wRC+, 27 better than anyone |
Alvarez stats and poll: MLB.com final MVP poll, Sept. 22, 2026 (Alvarez got 29 of 38 first-place votes). Odds: FOX Sports / FanDuel, Sept. 19, 2026.
A sportsbook price of -1500 means roughly a 94% chance. -20000 is about 99.5%. Now look at what eBay is paying for cards that turn into fixed store credit if those two things happen.
| Card (raw) | Median sold | Credit | Market's implied odds |
|---|---|---|---|
| PCA #45 base (n=28) | $14.99 | $20 | 75% |
| PCA #45 Refractor (n=14) | $26.29 | $40 | 66% |
| Alvarez #3 base (n=30) | $13.00 | $20 | 65% |
| Alvarez #3 Refractor (n=15) | $28.00 | $40 | 70% |
Source: SportsCardsPro sold logs for PCA base, PCA Refractor, Alvarez base and Alvarez Refractor, accessed Sept. 24, 2026. Medians calculated from individual sales. PCA sales run Sept. 4–23, all before the 40-40 game. The Alvarez logs only show sales through Aug. 27 (base) and Sept. 2 (Refractor), so treat those as a month old. "Implied odds" is just median divided by credit. Live comps: PCA Refractor · Alvarez Refractor.
Part of that gap is real. It is store credit, not cash, spent at a shop's prices. Shops can cap how many they take. You are waiting until November at the earliest. And on the base card, shipping eats most of the edge: a $15 card plus a few dollars to get it to your door is right at $20. That trade is a wash.
The Refractor is different. Around $26 in, $40 out, on two awards the voters have basically already handed out. If you shop at a hobby store anyway, that is a 40-50% return on money you were going to spend there. The same logic gets louder higher up: the last raw Alvarez Gold X-Fractor /50 sold for $127 on August 3, and it would be worth $200 in credit. That is one sale, so do not build a plan on it. But it tells you where the market is sleepiest.
What to Watch: the Refractor price the week the awards are announced. Ballots are due before the postseason starts Tuesday, and only the regular season counts, so nothing that happens in October changes the vote. The one thing that closes this trade is the market waking up. If the PCA Refractor is still under $30 when the winners are named, the discount was real. If it jumps to $38 the morning after, everybody else figured it out too, and the spread is gone.
One out now, one pre-order, and the October run.
SEP 23 | 2026 Bowman Chrome Mega Box Out now. Six packs, Mojo parallels and mega-only autograph checklists at the cheapest price point into this year's Bowman Chrome. Buy it at list and not from the reseller markups we flagged last week. Bowman Chrome checklist and odds.Sold comps here. Out Now |
OCT 5 | 2026 Topps Cosmic Chrome Pre-orders open on topps.com. Space-themed Chrome with loud parallels, built for people who pick cards on how they look. Box configuration and price are not out yet. Midwest Cards lists the release as October 31, which we have not confirmed with Topps. Pre-Order |
OCT 7 | 2026 Topps Allen & Ginter Hobby box $139.99, two hits per box across autographs, relics, Rip Cards and printing plates. For the set builders and the people who want a Luke Combs framed mini in the same pack as a rookie. Release Day |
OCT 7 | 2026 Topps Museum Collection Same day. $409.99 for one eight-card pack with an on-card auto, an auto relic and a relic. Premium hit chasers only. Premium |
OCT 14 | 2026 Topps Update Series Hobby $109.99, one auto or relic per box, and hobby boxes are already sold out on topps.com. Travis Bazzana, Andrew Painter and Joe Mack flagship rookies plus every deadline trade in its new uniform. Last flagship before the CBA runs out. Check retail here. Rookie Cards |
Sources: topps.com release calendar and Update product page, checked Sept. 24, 2026; Midwest Cards; Checklist Insider for Update, Allen & Ginter and Museum.
Two questions this week.
First: are you doing anything with the buyback? Holding the PCA and Alvarez Chrome you pulled, buying Refractors to trade in, or ignoring it because store credit is not money? If you did the buyback last year with Judge or Ohtani, I especially want to hear how it went at your shop.
Second: who are you collecting this October? Give me the one player whose cards you would buy before the Wild Card Series starts Tuesday, and I will run the most common answers next week.
Hit reply. It comes straight to me and I read every one.
The Angels went 73-89 and Ohtani won the AL MVP anyway. It was his second time doing it on a losing team, after 2021. The Cubs have produced three MVPs on losing teams all by themselves: Ernie Banks in 1958 and 1959, and Andre Dawson in 1987 (Yahoo Sports). Houston was 78-80 entering Thursday and still tied with Texas for the AL West lead, so Alvarez could win the MVP on a losing team that still makes the playoffs.
Sent by Allen Hamric · hello@dugoutvault.app
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