Logan Paul sells 'holy grail' Pokemon card for $16.5M
What's the story
Professional wrestler and influencer Logan Paul has auctioned his rare Pikachu Illustrator Pokemon card for a staggering $16.492 million. The auction was held by Goldin Auctions and lasted 42 days, culminating in a flurry of last-minute bids that pushed the price up from an initial $6.882 million to its final value. The sale also included a diamond-encrusted necklace worn by Paul at WrestleMania 38 and his promise to personally deliver the card to the winning bidder.
Record-breaking sale
'Holy grail of all Pokemon cards'
The Pikachu Illustrator card is one of only 39 such cards made for a Pokemon illustration contest in the late 1990s. It is regarded as "the holy grail of all Pokemon cards" and is virtually flawless, being the only Illustrator card to receive a Grade 10 from authentication agency PSA. The sale has earned Paul over $8 million in profit after auction fees, making it a lucrative investment considering he bought it for $5.275 million five years ago.
Investment
'Most coveted trading card in the world'
Goldin Founder and CEO Ken Goldin previously told CNN that Pokemon cards have skyrocketed in value, outpacing sports cards and beating the S&P stock market by 3,000% over the past two decades. He called Paul's card "the most coveted trading card in the world." The auction attracted 97 total bids before closing with a final price of $16.492 million.
History
Paul acquired the card in 2021
Paul had acquired this ultra-rare Grade 10 card by trading a PSA Grade 9 Pikachu Illustrator card he owned along with $4 million in cash back in July 2021. Only eight Pikachu Illustrator cards have been given a PSA Grade 9, making Paul's sale unique as the only PSA Grade 10. He bid farewell to this prized possession on Instagram, calling it "the greatest collectible in the world."