"The basketball card industry has never had a product experience a jump in value of this magnitude in such a short period of time," said Keith Hower, Beckett Basketball Price Guide Editor. "As this card continues to dry up on the secondary market, expect to see even higher prices than this, as collectors who are building complete sets battle it out over the few offered for sale."
New York City-based hobbyist Reed Elson confirmed the sale with Beckett Media and was looking toward more success from this LeBron offering.
"I've sold two other LeBron cards this year," Elson said. "They went for $2,700 and $3,800. I do this mainly as a hobby. I started collecting about 15 or 20 years ago. I collect all four sports. Lately, I have been able to focus on the higher end cards like the Exquisites and the Ultimates from Upper Deck. I expect the value of these cards to go even higher as LeBron experiences more success."
This was the single most expensive basketball card product ever produced with an SRP of $500 per pack and $1,500 per case upon release a little more than a year ago. Full case sales have since easily topped the $4,000 mark. Seven of these LeBron cards have sold for more than $2,600 apiece since February 21, 2005. Since the first recorded public sale in June of 2004, the secondary market revenue from all copies sold of this card has exceeded $100,000.
Source:
Beckett Media
