A reality show star now owns the most expensive sports card in history.
Kevin O’Leary, an investor on “Shark Tank,” revealed to CNBC he was part of a group including Matt Allen and Paul Warshaw that bought the 2007-08 Upper Deck Exquisite Collection Dual Logoman Autograph 1/1 card of Michael Jordan and Kobe Bryant for $12.932 million from Heritage Auctions.
The purchase broke the all-time record previously set by a 1952 Topps Mickey Mantle, graded SGC 9.5, that sold for $12.6 million in a 2022 Heritage auction.
“It’s going to be a part of an index that I’m going to continue to grow along with my partners,” O’Leary told CNBC’s “Squawk Box.” “We look at it no different than our bitcoin holdings, our ethereum holdings, our gold holdings.”
The 71-year-old O’Leary added that he doesn’t expect the card to be sold again during his lifetime.
“It’s no different than collectible watches, in some way,” he explained. “It’s so rare that the prices continue to appreciate, and they seem to defy recessions.”
O’Leary’s partner, Matt Allen, is a well-known collector who goes by “Shyne150” on social media. According to The Athletic, Allen displayed a portion of his card collection during last year’s Fanatics Fest that was valued around $70 million.
“Normally, I would win a card like this on auction and keep it hidden until the new year at minimum yet this is an entirely different situation,” Allen posted on Instagram.
“We purchased this card together on [Heritage Auctions] which is abnormal for me being I prefer to own cards outright and control their destiny. In this instance, I view this as a strategic partnership, one that perfectly complements our long term vision.”
The Jordan-Bryant Logoman dual autograph demolished the previous record for highest-selling basketball card. A 2009-10 Panini National Treasures Rookie Patch Autograph 1/1 of Stephen Curry sold for $5.9 million.
