A group that includes "Shark Tank" star Kevin O'Leary recently purchased the "holy grail of basketball collectibles," a one-of-one basketball card signed by Michael Jordan and Kobe Bryant, according to ESPN.
The card is formally known as the Upper Deck 2007-08 Upper Deck Exquisite Collection Dual Logoman Autographs Jordan & Bryant card. Its $12.93 million final price broke the previous record of $12.6 million for a 1952 Topps Mickey Mantle card. According to ESPN, the Jordan/Bryant card is not only the most expensive sports card ever sold, but it's also the second most expensive piece of sports memorabilia in history.
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That distinction belongs to the New York Yankees jersey that George "Babe" Ruth wore when he supposedly "called his shot" by pointing to center field before hitting a home run in the 1932 World Series. It reportedly sold for $24.12 million a year ago. The multimillion-dollar hauls for the Bryant/Jordan card and the Ruth jersey exemplify the enduring popularity of sports memorabilia and its potential as an investment opportunity.
The Bryant/Jordan card had a strong appeal for numerous reasons. First, it was a one-off. ESPN reports the card was numbered one of one, meaning there isn't another one in existence. Second, Bryant and Jordan had eerily similar playing styles, and Bryant made no bones about the fact that Jordan was one of his biggest influences in basketball.
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Lastly, this card was signed by both players. “It’s the pinnacle as far as modern card collectors are concerned, and this is the only time there’s been Jordan and Kobe autographed Logomans," Chris Ivy, Heritage's director of sports auctions, told ESPN. "Another one can’t be created. It’s always been looked at by modern basketball collectors as a holy grail.”
ESPN reports that O'Leary's winning auction group includes collector Matt Allen and Greenrush CEO Paul Warshaw. The seller had owned the card for over 10 years before putting it on consignment with Heritage in February. Ivy told ESPN the seller rejected multiple "high-seven-figure" private offers in favor of putting the card up for auction. That turned out to be a very lucrative decision.
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The final price was more than double Heritage's expectations. “The pre-auction estimate was $6 million-plus, so sometimes if a piece is unique like this, it’s really beneficial to let it have its day,” Ivy said. It makes sense that a one-of-one piece of sports memorabilia autographed by Jordan and Bryant would fetch a high auction price.
The timing of the auction may have also played into the seller's favor. Bryant tragically passed away in a helicopter crash in 2020, and the auction opened on Aug. 23, which would have been Bryant's 42nd birthday. There has been no word yet on who will maintain possession of the card between O'Leary, Allen, and Warshaw. Considering the card's high value, it's also possible that they will have it stored in a secure location.
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