Kevin O'Leary's involvement in the record-breaking $12.9 million card purchase signifies that institutional-level investors view sports cards as a serious asset class. It highlights the massive capital influx currently fueling the hobby's top tier.
The buyers of the most expensive sports card in the world revealed themselves Monday morning. Kevin O'Leary, known as "Mr. Wonderful" on "Shark Tank" told CNBC he and two other partners bought the 2007-08 MJ-Kobe Logoman card at Heritage Auctions early Sunday morning for a record $12.932 million. O'Leary appeared on "Squawk Box" saying he, Matt Allen, known in the industry as Shyne, and Paul Warshaw bought 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." Before the appearance, O'Leary quoted tweeted a column by cllct's Ben Burrows saying, "I remember an original oil Warhol painting described in the same way." Hobby history! MJ-Kobe Logoman sells for $12.932 million, now most expensive card ever 'People want the best:' Why Kobe-MJ logoman represents true scarcity Worth it or not? Hobby experts react to record $12.932 million sale The 10 most expensive basketball cards ever: A new No. 1 tops the list Michael Jordan rookie from secret signing sells for record $2.5 million
Kevin O'Leary's involvement in the record-breaking $12.9 million card purchase signifies that institutional-level investors view sports cards as a serious asset class. It highlights the massive capital influx currently fueling the hobby's top tier.
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