By Kim J. Harmon

WHITE PLAINS, New York – It wasn’t too long ago (only about 25 years ago) that kids were flipping their bubble gum cards up against the walls of their schools and clothespinning them to the spokes of their bicycle wheels.

Now – in this age of the Internet – bubble gum cards are being traded online thanks to thePit.com, the world’s first real online sports card stock market.

Launched back in October of 2000, thePit.com allows users to invest in professional athletes (almost like they would AT&T or IBM) through their trading cards and watch the value of those cards rise or fall based on the performances of those athletes.

After the Indianapolis Colts fell to the Miami Dolphins in the first round of the National Football League playoffs last weekend, the value of Peyton Manning’s card dropped 20% (to $59).

Right before the Tampa Bay Buccaneers took to the field against the Philadelphia Eagles last Sunday, the value of Tampa quarterback Shaun King’s card jumped 35% (to $39).

And it happens, right in real time.

According to thePit.com, sports cards are the most actively-traded collectible on Internet auctions and that all commodities – like securities, bonds, and sports cards – should be traded in the most efficient forum of exchange.

The stock market.

Founder/CEO Marc Lore, who created thePit.com with friends Vinit Bharara and Lakshman Chandra, said, “thePit.com is where eBay meets E*Trade. It will transform the way investors collect and collectors invest.”

Key features include:

Liquidity and immediacy - thePit.com is a national, professional “market maker,” not an order matching system. Wall Street traders, armed with inventory, will always list a buy and sell price for every card, guaranteeing users the ability to trade immediately and continuously - just like on the New York Stock Exchange of NASDAQ.

Guaranteed reliability - Every trade is executed solely with thePit.com, thus eliminating the distrust and fraud prevalent with many online auctions.

Accurate pricing guide - A properly functioning stock market will always reveal the true market price. If prices are too low, more users will buy. If prices are too high, more users will sell.

Live pricing guide - Like the stock market, thePit.com pricing guide literally fluctuates minute to minute. An athlete’s on-the-field performance, among other factors, will affect prices.

Daily sports content - thePit.com features daily sports news such as scoreboards, statistics and analysis, helping users make investment decisions.

Other stock market features - In addition to the live, minute-by-minute price guide, thePit.com features a real-time ticker, various “Dow Jones” type indices, historical price guides, and more.

And like a broker, thePit.com earns a commission per trade. The standard fee is 1.5% the total dollar value of the trade or $2, whichever is greater. For instance, if you were to trade five 1989 Score Troy Aikman cards at $23 apiece, the commission would be $2 since 1.5% of the value is $1.72.

Since its inception in October of 2000, thePit.com has joined forces with Professional Sports Authenticator (PSA), the largest division of Collectors Universe, Inc., which trades on NASDAQ. As part of the deal, thePit.com agreed it will only market sports cards authenticated and graded by PSA.

“I’m very intrigued by thePit.com trading model,” said David Hall, chairman and CEO of Collectors Universe, back in October. “They definitely have a chance to take the sport card market to a new level. We’re flattered they have chosen our company to be on of their launch partners. And personally, I’m looking forward to opening an account and trading myself.”

Back in November, thePit.com also joined forced with Beckett.com, the leading online destination for sports collectible enthusiasts and the premier publisher of monthly collectible magazines. Through the agreement, each site will promote the other.

Also back in November, thePit.com introduced the first female sports trading cards to its exchange – featuring Women’s National Basketball Association (WNBA) standouts like Cynthia Cooper of the Houston Comets, Chamique Holdsclaw of the Washington Mystics, Lisa Leslie of the Los Angeles Sparks, Sheryl Swoopes of the Houston Comets and Natalie Williams of the Utah Starzz.

That brought the total number of tradable athletes to nearly 100.

To illustrate the volatility of the market, in December the rookie trading card of Golden State Warriors forward Antawn Jamison (a 1998-99 SP Authentic) went from $89 to $172 in one day, a 93.3% increase, which came on the heels of a 51-point game in the Warrior’s 125-122, overtime win over the Lakers. It was Jamison’s second-straight 51-point game.

As of Monday, January 1, the Jamison card was available for $153.

With a credit card in hand, visit thePit.com and see what can be had: a 1989 SP Authentic Vince Carter card is available for $837 while a 1987 Fleer Barry Bonds card is available for $58. Then there is the 1984 Topps John Elway card available for $251 and the 1979 O-Pee-Chee Wayne Gretzky card available for $503.

A 1986 Fleer Michael Jordan card was available early this week for $790, but then a 1995 Select Certified Curtis Martin card (since Martin and the Jets were kept out of playoff competition by a loss to the Baltimore Ravens) was available for just $17.

There are more, many more – like Kobe Bryant, Daunte Culpepper, Marshall Faulk, Nomar Garciapparra, Ken Griffey Jr., Randy Moss, Joe Montana and Tiger Woods. If you are a sports enthusiast and have some market savvy, thePit.com looks like the place for you – for the first time – to merge the two.

Forget flipping ‘em.

Forget the clothes pins.

It’s a whole new world for sports cards.