Kevin O'Leary Among Investors in Record-Breaking Michal Jordan, Kobe Bryant Card: A Rare Gem in the Collectibles Space

Kevin O'Leary, a "Shark Tank" investor, revealed he is a co-owner of the most expensive trading card purchase ever, a $12.932 million UD Exquisite Dual Logoman Autograph featuring Michael Jordan and Kobe Bryant. O'Leary believes the collectibles space is "institutional in nature" and prices are appreciating, comparing it to rare artwork and cryptocurrencies like Bitcoin and Ethereum. He plans to add a 5% weighting to his portfolio in trading cards.

Kevin O'Leary, a renowned investor from the hit reality TV show "Shark Tank," has made a significant investment in the collectibles market. On Sunday, O'Leary, along with co-investors Matt Allen and Paul Warshaw, purchased the most expensive trading card ever sold, a UD Exquisite Dual Logoman Autograph featuring Michael Jordan and Kobe Bryant. The card sold for a record-breaking $12.932 million at Heritage Auctions [1].

The card, graded PSA 6 out of 10, is a 2007-08 Upper Deck Exquisite Collection Dual Logoman Autograph, numbered 1/1. It features autographs from both Jordan and Kobe Bryant and is considered a rare and highly desirable collectible. The previous record for the most expensive sports card was held by a 1952 Topps Mickey Mantle rookie card, which sold for $12.6 million in 2022 [2].

O'Leary, who has been adding to his basketball card collection for a few years, sees the collectibles market as an "institutional in nature" asset class. He believes that prices are continuing to appreciate, similar to rare artwork and collectible watches. The investor has compared trading cards to cryptocurrencies like Bitcoin and Ethereum, indicating that he views them as a valuable addition to his investment portfolio. O'Leary plans to allocate a 5% weighting to trading cards in his overall portfolio [1].

The purchase comes at a time when the sports card market is experiencing significant growth. GameStop Corporation (GME) has been actively pushing into the collectibles market, offering sports trading card packs alongside Pokémon card packs in its stores. The company has also partnered with PSA to allow consumers to grade their cards [3].

The sale of the Jordan-Bryant card highlights the growing interest in high-value collectibles. The card's rarity and the fact that it is the only one of its kind contribute to its high price. The previous owner had kept the card for over a decade and turned down high seven-figure offers in favor of an open auction, where it safely eclipsed the $6 million estimate [2].

O'Leary does not plan to sell the card during his lifetime, indicating that it will be a long-term addition to his investment portfolio. The card joins a collection of basketball cards that O'Leary already owns, further demonstrating his commitment to the collectibles market.

References:
[1] https://www.benzinga.com/news/sports/25/08/47320665/kevin-oleary-among-investors-in-record-breaking-michal-jordan-kobe-bryant-card-why-the-shark-compares-it-to-bitcoin
[2] https://www.espn.com/nba/story/_/id/46061949/holy-grail-jordan-bryant-sports-card-sells-record-129m
[3] https://www.cbsnews.com/texas/news/one-of-a-kind-michael-jordan-kobe-bryant-basketball-card-sells-for-a-record-12-9-million-from-dallas-auction/