Tiger Woods "Masterpiece" SI Sets New Record — But Why? | Market Report 4.29.26

Plus: Shohei Ohtani double feature nets more than $7K on Japanese auction site

Apr 29, 2026

It’s one of the most iconic photos in sports history: Hundreds of ~~fans~~ patrons surrounding the 18th tee at Augusta National, eyes locked on the red-shirt supernova two swings and a tap away from his fourth straight major championship, the greatest achievement in modern golf. Photographer Fred Vuich clicked at the exact right moment — the driver in perfect position at the top of his swing, Tiger Woods at the top of his game.

The “Masterpiece” Sports Illustrated from April 16, 2001 perfectly captures why we love collecting sports magazines. Everyone who watched that day 25 years ago can take one look at this cover and remember not only the moment, but the months-long lead-up to that Masters and the frenzied discussion about whether Tiger’s four straight would be regarded as an authentic Grand Slam. All that history bursts from one image and one word.

Instantly collectible when it hit newsstands, this issue is the second-most frequently graded of Tiger’s SI covers, behind only his 1996 debut. CGC shows 133 newsstands in their census, PSA already has 26. While it is a highly desirable magazine, among slabbed modern Sports Illustrateds, it’s not exactly rare. Which is why last week’s $4,741 sale price for a PSA 9.4 copy on Goldin stopped me in my tracks.

Billed as the top pop at the time, PSA has since updated their population report to include four 9.6s, one 9.8, and four more 9.4s. Even without those additions, there are still 81 copies graded 9.4 or higher by CGC. No bidder could have reasonably expected the PSA 9.4 to be the finest copy in existence.

High-grade copies of this issue have transacted dozens of times over the years. From what I can tell, none have cracked even $1,000 — including another PSA 9.4 that sold on Goldin for $933 just two weeks prior:

Highest sales of Tiger Woods’ “Masterpiece” *Sports Illustrated* cover.

The highest sale price for a CGC 9.4 is $250, which was purchased on eBay the same night as the Goldin sale. The average price of CGC 9.4 sales is just $154.

View all "Masterpiece" sales

Tiger isn’t exactly hot right now — DUIs and rehab stints don’t typically boost the value of one’s collectibles. So why would two (or more) bidders treat this relatively common issue as if it’s the last one on Earth? I have some theories, most of which are probably bunk:

Many new collectors have entered the market, in part due to the attention PSA and Goldin have brought to graded magazines, driving demand for key modern issues to new heights. Likelihood: Low
CGC’s pop report problems — which somehow lasted more than a week — caused bidders to believe this PSA 9.4 was the true top pop of all graded copies. Likelihood: Low
The perception of a “PSA Premium” is reached a fever pitch, causing buyers to invest even more in high-grade PSA slabs with the expectation that CGC will go the way of BGS in the sports card world. Likelihood: Medium
Nefarious actors have colluded to inflate the value of this issue, with the intention of selling their own holdings into the rise. Likelihood: Medium
Someone just really wanted it. Likelihood: 🤷

My gut tells me something is afoot, but I hope the simplest explanation is the correct one: A Tiger fan with money to spend (and loyalty to PSA) decided to invest heavily in the (then-) top pop of the most iconic Masters magazine cover of all time.

Top Sales

$18,910 Sports Illustrated Nov. 28, 1983 Michael Jordan and Sam Perkins 1st cover w/ signatures (Heritage)

$7,397 Hochi High School Baseball Mar. 2012 and Nov. 2012 Shohei Ohtani 1st and 2nd covers (JDirectItems Auction)

The trickle of early Ohtani covers has not yet turned into a full-fledged stream, so I think we’ll continue seeing ungraded Hochi copies sell for thousands on Japanese auction sites. The guy currently has the lowest ERA in the majors!
Two other Nov. 2012 Hochi sales ($3,012 and $2,789) are listed below.

$5,850† CGC 8.5 Sports Illustrated Oct. 12, 1964 Dick Butkus 1st cover (eBay) (*sold April 17)

$5,490 CGC 9.6 Sports Illustrated Feb. 18, 1991 “Dream Team” (Heritage)

$4,900† PSA 9.2 Sports Illustrated Aug. 5, 1991 “The Black Athlete” Michael Jordan inset (eBay)

$4,741 PSA 9.4 Sports Illustrated Apr. 16, 2001 Tiger Woods “Masterpiece” *Top Pop* (Goldin)

See intro for flabbergastation.

$3,098 PSA 6.5 The Ring Oct. 1962 Cassius Clay (Muhammad Ali) 1st cover *Top Pop* (Goldin)

A CGC 6.5 sold for $2,769 in January on Goldin. I mentioned this last week, but it seems unlikely we ever see a high-grade copy of this magazine. They’re just too brittle.

$3,012 Hochi High School Baseball Nov. 2012 Shohei Ohtani (JDirectItems Auction)

$2,806 CGC 9.6 Sports Illustrated June 10, 1991 Magic Johnson and Michael Jordan (Heritage)

$2,789 Hochi High School Baseball Nov. 2012 Shohei Ohtani (JDirectItems Auction)

$2,757 PSA 6.5 Weekly Baseball Feb. 8, 2012 Shohei Ohtani (Goldin)

$2,684 PSA 5.5 Sports Illustrated June 18, 1956 Mickey Mantle 1st cover (Goldin)

$2,501 PSA 8.5 Dell Basketball Oct. 1957 Premier Issue Wilt Chamberlain 1st cover *Top Pop* (Goldin)

For those priced out of vintage SI first covers, Dell issues make for great alternatives. This one came out four years before Wilt’s first appearance on the cover of Sports Illustrated — and he’s not sharing it with anyone else.

$2,175† CGC 4.5 Baseball Magazine Aug. 1951 Mickey Mantle 1st cover (eBay)

$2,150† CGC 7.5 Sports Illustrated June 18, 1956 Mickey Mantle 1st cover (Subscription) (eBay)

$2,025 CGC 8.0 Sports Illustrated Nov. 28, 1983 Michael Jordan 1st cover (Subscription) (eBay)

$1,769 CGC 9.6 Sports Illustrated Jan. 23, 1984 Wayne Gretzky “Greater and Greater” *Top Pop* (Goldin)

$1,586 CGC 9.4 Sports Illustrated July 14, 1986 Bo Jackson *Top Pop* (Goldin)

$1,586 PSA 9.2 Sports Illustrated May 26, 1986 Sports Illustrated Hakeem Olajuwon 1st cover (Goldin)

$1,499† PSA 8.0 Sports Illustrated Dec. 10, 1984 Michael Jordan “A Star Is Born” (Subscription) (eBay)

†Price confirmed via 130point.

Other Notable Sales

$998 CGC 9.8 Sports Illustrated Apr. 13, 1998 Tiger Woods *Top Pop* (Goldin)

$976 CGC 9.6 Sports Illustrated May 21, 1990 Michael Jordan “Show Time!” (Heritage)

$921 CGC 8.0 Sports Illustrated Dec. 10, 1984 Michael Jordan “A Star Is Born” (Subscription) (Goldin)

$860 CGC 9.6 Sports Illustrated June 12, 1989 Bo Jackson *Top Pop* (Goldin)

$854 PSA 9.4 Sports Illustrated Jan. 21, 1991 Shaquille O’Neal 1st cover *Top Pop* (Goldin)

$808 CGC 9.4 Sports Illustrated May 22, 1972 Willie Mays *Top Pop* (Goldin)

$750 CGC 9.2 Black Sports April 1971 Lew Alcindor and Oscar Robertson Premier Issue (Heritage)

$732 PSA 9.6 Sports Illustrated June 22, 1998 Michael Jordan “The Man, The Shot” (Goldin)

$732 CGC 9.6 Sports Illustrated Oct. 21, 1996 Derek Jeter 1st cover (Heritage)

$702 PSA 9.8 SLAM Dec.-Jan. 2024 Cooper Flagg 1st cover *Top Pop* (Goldin)

SLAM has incepted graded mag transactions, promoting sales like this one in the pages of their own magazine. That’s certainly one way to convince people it’s worth the trip to Barnes & Noble to pick out a few clean copies.

$700† PSA 8.5 Sports Illustrated Oct. 28, 1996 Tiger Woods 1st cover (eBay)

$619 PSA 9.6 Sports Illustrated Dec. 23, 1991 Michael Jordan “Sportsman of the Year” (Goldin)

$600† PSA 9.2 Sports Illustrated Mar. 13, 2000 Frank Thomas 1st cover w/ PSA 10 auto (eBay)

$559 CGC 6.5 Sports Illustrated Oct. 25, 1965 Bill Russell 1st cover (Goldin)

$535† CGC 8.0 Sports Illustrated Oct. 28, 1996 Tiger Woods 1st cover (eBay)

$512 CGC 5.5 Sports Illustrated June 18, 1956 Mickey Mantle 1st cover (Subscription) (eBay)

$488 CGC 9.6 Sports Illustrated Apr. 4, 1994 Ken Griffey Jr. *Top Pop* (Goldin)

$433 PSA 9.4 Sports Illustrated Mar. 27, 1995 Sports Illustrated Michael Jordan “I’m Back” (Goldin)

$458 CGC 9.6 Sports Illustrated May 15-22, 2017 Aaron Judge 1st cover (Goldin)

$342 CGC 9.6 Sports Illustrated Nov. 18, 1991 Magic Johnson (Heritage)

$270† CGC 5.5 The Ring Oct. 1962 Cassius Clay (Muhammad Ali) 1st cover (eBay)

If a PSA 6.5 commands $3,098, then surely a CGC 5.5 (just graded in February) that presents just as well is worth more than 10% of that price, right? I consider this the Steal of the Week.

$262 CGC 9.6 Sports Illustrated Aug. 8, 1994 Ken Griffey Jr., Frank Thomas *Top Pop* (Goldin)

$250 CGC 8.0 Beckett Monthly Nov. 1984 Issue #1 Roberto Clemente/Ryne Sandberg (Goldin)

$129 SPORT April 1953 Mickey Mantle 1st cover (eBay)

$84 PSA PG Sports Illustrated Sept. 24, 1990 Tiger Woods “Faces in the Crowd” 1st SI appearance (Goldin)

$51 PSA PG Sports Illustrated June 24, 1996 Kobe Bryant “Schooling Mr. Bryant” (Goldin)

†Price confirmed via 130point.

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eBay

Wed. 4/29 at 8:43pm ET: CGC 7.0 Sports Illustrated Oct. 13, 1980 Muhammad Ali

Wed. 4/29 at 8:45pm ET: Sports Illustrated Aug. 16, 1954 Premier Issue

Wed. 4/29 at 8:54pm ET: CGC 7.5 Sports Illustrated Jan. 23, 1984 Wayne Gretzky

Thu. 4/30 at 8:10pm ET: PSA 6.5 Sports Illustrated Dec. 10, 1984 Michael Jordan “A Star is Born” (Subscription)

Thu. 4/30 at 10:05pm ET: CGC 7.0 Sports Illustrated Nov. 28, 1983 Michael Jordan 1st cover (Subscription)

Fri. 5/1 at 1:05pm ET: PSA 7.5 Sports Illustrated May 7, 1984 Bernard King

Fri. 5/1 at 1:27pm ET: PSA 9.2 Sports Illustrated Mar. 19, 1984 Patrick Ewing

Fri. 5/1 at 1:34pm ET: PSA 8.5 Sports Illustrated Sept. 19, 1990 Barry Sanders 1st cover

Fri. 5/1 at 1:52pm ET: PSA 7.5 Sports Illustrated Oct. 12, 1981 Wayne Gretzky (Subscription)

Fri. 5/1 at 1:47pm ET: CGC 9.4 Sports Illustrated for Kids Jan. 1989 Michael Jordan Premier Issue

Goldin

There aren’t many blue chip graded magazines in Goldin’s Weekly Auction ending Thursday, April 30 at 10pm ET. Some high-end pieces — including Shohei Ohtani’s first appearance on the cover of Weekly Baseball — close Sunday, May 9 as part of their April Elite Auction.

CGC 8.0 Sports Illustrated Jan. 6, 1986 Mike Tyson 1st cover w/ JSA authenticated auto (Subscription label removed)

PSA 9.2 Sports Illustrated Feb. 18, 1991 “Dream Team”

PSA 9.2 Sports Illustrated Jun. 10, 1991 Magic Johnson, Michael Jordan

PSA 5.5 Sports Illustrated Jul. 23, 1984 Michael Jordan “Up, Up For L.A.”

CGC 9.8 1996-97 The Sporting News Pro Basketball Yearbook Michael Jordan *Top Pop*

PSA 9.2 Sports Illustrated Oct. 29, 2001 Michael Jordan

In a weird way, I think LeBron’s longevity is having a positive effect on Jordan’s late-career accomplishments. At the time, MJ’s Wizards years were ridiculed and eventually discarded from his résumé as unworthy of mention. I think there’s a greater appreciation now for how rare it is for a player to average 20+ points in his late-30s and early-40s.

CGC 9.8 1995-96 Tuff Stuff Presents: Jam Michael Jordan *Top Pop*

CGC 9.6 The Chicago Bulls Three-peat! July 1993 Michael Jordan

CGC 9.4 Inside Sports Oct. 1991 Michael Jordan *Top Pop*

CGC 9.6 1993 Hoop Michael Jordan Cover *Top Pop*

CGC 9.6 Sports Illustrated Feb. 13, 1995 Anfernee “Penny” Hardaway 1st cover *Top Pop*

A dream cover for anyone who spent the ’90s playing NBA Jam and watching Inside Stuff. Much like the Bernard King cover above, the arena light is perfectly placed, giving the cover a heavenly glow.

CGC 8.5 Sports Illustrated Apr. 3, 1967 Kareem Abdul-Jabbar

PSA 7.5 Sports Illustrated Jan. 21, 1991 Shaquille O’Neal 1st cover w/ PSA 10 auto

CGC 9.2 Sports Illustrated Feb. 18, 2002 LeBron James 1st cover

PSA 8.0 Sports Illustrated May 29, 1995 Dennis Rodman 1st cover

Everything you see on this cover actually belonged to Dennis Rodman. The photo was taken by John McDonough in Rodman’s kitchen. The macaw — one of at least a dozen exotic birds Rodman owned at the time — dug its claws into The Worm’s right arm.

PSA 9.4 Sports Illustrated Apr. 21, 1997 Tiger Woods “The New Master”

A CGC 9.8 copy of this issue sold on Goldin for $1,525 in February. If this PSA 9.4 approaches that, we can probably throw out my scandalous theories above and accept the reality that people want (Tiger Woods stuff, at least) in PSA slabs.

CGC 9.2 Sports Illustrated Feb. 15, 1982 Wayne Gretzky