The King is the perfect moniker for Los Angeles Lakers’ player, LeBron James. Another record-breaking feat is attached to his name once again as his rookie basketball card sold for an astounding $5.2 million.

According to an Instagram post by PWCC Marketplace, the @kingjames card sets the record for the highest price for a basketball card. Ever.

At the heart of every collector in 2003, was the hope of pulling the ultra-rare LeBron James Rookie Patch Auto Parallel numbered to 23 copies. With so few ever becoming available and demand increasing by the day, this card is quickly becoming the crown jewel of all sports card investing.

“We’re pleased to have privately brokered the deal for the most valuable basketball card ever sold.”

According to ESPN, a 2003-04 Upper Deck Exquisite Collection RPA (rookie patch autograph) parallel LeBron James card was sold privately for $5.2 million with PWCC Marketplace.

“Exquisite was a revolutionary product when it came out in 2003,” said Jesse Craig, PWCC’s director of business development. “It was the most expensive retail product that had ever been released, at $500 a box, and they were only made from 2003 to 2009; the rarity of those assets carries a lot of weight for collectors and investors today. The majority don’t want to sell. There are a select few that want to capitalize on the rise of the market, but it has to be kind of the perfect storm for someone to release a card of this magnitude.”

Craig also stated that there are more valuable LeBron James basketball cards in circulation.

“There are LeBron cards [still] out there, I would say, worth over $10 million,” Craig said. “And let’s be clear: There are three Mantle PSA 10s that, whenever they transact, will break every record there is. But as a market, there are so many desirable cards that haven’t sold yet publicly. It really helps when sales like these happen. It just instills confidence that there are really high-end buyers out there. And these cards are starting to get recognition as the pieces of fine art that they [are].”

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By AZ news

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