Rookie cards, Patrick Mahomes and Michael Jordan, sell for all-time highs in record-setting $33 million auction.
The following written content by Tommy Beer
TOPLINE
The booming sports card and memorabilia market soared to new heights this weekend, with Goldin Auctions saying Monday its most recent auction, which featured ultra-rare rookie cards of Patrick Mahomes, Mickey Mantle and Michael Jordan, generated a record-shattering $33 million in total sales.
KEY FACTS
A 2017 Panini National Treasures #161 Patrick Mahomes Signed Patch Rookie Card, of which only five exist, was purchased for $861,000, making it the most expensive football card ever sold.
Two gem mint Michael Jordan 1986 Fleer rookie cards in PSA 10 grade sold for $738,000 each—the highest amount ever paid for a Jordan rookie.
The jersey Jordan wore during his final NBA game (played on April 16th, 2003, in Philadelphia) was also sold this weekend, fetching $584,250.
Two cards cracked the million-dollar plateau: a one-of-one 2012-13 National Treasures #151 Anthony Davis Signed NBA Logoman Patch rookie went for $1,045,500, and a 1952 Topps #311 Mickey Mantle rookie in PSA 8 grade was sold for $1.6 million.
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KEY BACKGROUND:
Despite the detrimental impact the coronavirus pandemic has had on economies worldwide, the sports card and sports memorabilia markets continue to prosper. The skyrocketing cost of the 1986 Fleer Jordan rookie is a case in point. In 2016, a PSA 10 Jordan rookie was sold for under $24,000. As recently as ten months ago, a PSA 10 was typically valued in the neighborhood of $35,000. However, near the start of the pandemic, in early April, ESPN began airing “The Last Dance,” a 10-part documentary series about Jordan and the Chicago Bulls. The show became a phenomenon and, as the most-watched documentary ever on ESPN, averaged 5.6 million same-day viewers. The documentary sparked widespread interest in the sports card market, and especially in Jordan himself. In mid-April, a gem mint 10 Jordan rookie sold for a then-record $51,600. Read more from Forbes.
