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In the spring of 2003, Heritage Auctions laid the groundwork for its inaugural "Signature Sports Auction," venturing into the realm of sports memorabilia with a modest team and little experience. The venture proved to be a significant turning point for the company, which was already established in other collectible sectors. Mike Provenzale, the Production Manager, reminisced about the early days when the sports collectibles team operated out of a cramped office space.

The maiden auction, held at the Long Beach Expo in September 2004, was a resounding success, amassing nearly $2 million. A standout sale from this event was a 1963 Mickey Mantle game jersey, fetching $143,400. Fast forward to the present, and it's not uncommon for individual items at Heritage's Platinum Night sales to command prices upwards of $2 million.

Recently, Heritage announced a milestone achievement: over $1 billion in sports auction sales, with a record-breaking $26 million Winter auction propelling the company into the billion-dollar league. This auction was highlighted by the $3.72 million sale of a rare 1979-80 O-Pee-Chee hockey case, marking a significant moment in the company's history.

Heritage's journey into sports memorabilia began under the guidance of Chris Ivy, son of founder Steve Ivy, in 2003. The company's first major sports auction in the fall of 2004 included not only the Mantle jersey but also an uncut sheet of 1933 Goudey baseball cards featuring Babe Ruth, which sold for $131,450. This auction set a precedent, described by Co-Founder Jim Halperin as "the highest grossing first-time sports auction ever by a company entering the venue."

Following its initial success, Heritage continued to grow, hosting its second major sports auction in May 2005 with 602 lots that brought in just over $2 million. The company has since shattered records, including the sale of an SGC 9.5 copy of Mantle’s 1952 Topps card for $12.6 million in 2022—the highest price ever for a sports collectible.

From its humble beginnings to achieving $1.76 billion in total sales across all categories last year, Heritage Auctions has firmly established itself as a leader in the sports memorabilia market. This success story is punctuated by remarkable sales, including a 1958 Mantle jersey that sold for $4.68 million, underscoring the enduring appeal and value of sports collectibles.