Shark Tank's Kevin O'Leary Part of Group That Bought MJ-Kobe Card for Record $12.9M
There was an element of celebrity involved in Sunday's record-breaking $12.9 million sale of a 2007-08 Michael Jordan and Kobe Bryant Logoman card.
As Darren Rovell of CLLCT relayed, Kevin O'Leary of Shark Tank fame told CNBC Monday he partnered with Matt Allen and Paul Warshaw to purchase the card.
"We bought it together," O'Leary said. "Yes, we did, and I'm very proud to own it. I've been looking at this asset class now for three years. It's an extraordinary return."
Ben Burrows of CLLCT noted the 1-of-1 card is now the most expensive sports card to ever be sold at a public auction. It surpassed the $12.6 million sale of a 1952 Topps Mickey Mantle SGC 9.5 in 2022.
The card includes game-used Logoman patches and autographs from both Jordan and Bryant. The Jordan patch includes the gold logo worn during the NBA's 50th anniversary in the 1996-97 campaign.
All Jordan did that season was lead the league in scoring at 29.6 points per game while taking home the fifth of his six NBA championships.
"I've kind of looked at the research back in contemporary art and modern art," O'Leary said. "The majority of the capital gains accrue to the rarest (Jackson) Pollocks or, you know, Warhol pieces that are extraordinarily priced. You think and then you wait a decade and look at them again and see you get extraordinary capital gains. It's a very thin market, but as an alternative asset class, I'm all in."
The card easily set the record for the most expensive basketball card sold. That title previously belonged to a 2003-04 Exquisite Collection LeBron James Gold Rookie Patch Autograph card that sold for $5.2 million in a private sale in 2021.
