Published 12:11 IST, August 10th 2020
LeBron James rookie card auction winner explains process of acquiring prized possession
The winner of the LeBron James rookie card worth $1.5 million explains the process on the auction site and how he acquired the prized card.
- SportFit
- 4 min read
Last month, LeBron James' rookie card was sold at an auction for a record-breaking $1.5 million. Collector Leore Avidar won the Rookie Patch rare item, which is signed by the Los Angeles Lakers icon himself. During a recent episode of Bleacher Reports' The Lefkoe Show with Adam Lefkoe, Avidar detailed the process behind acquiring the exquisite autographed card.
Leore Avidar auction process for LeBron James rookie card explained by the collector himself
While Leore Avidar spoke about various things including how the sports card market is exploding right now, the conversation was highlighted by his explanation about the final moments before they won the card. Avidar explained that at Goldin Auctions and other auction sites, the tie goes to people who have bid first. Avidar revealed that when the auction was at $1.4 million, they risked bidding $1.5 million hoping that the other bidder was maxed out. Their gamble paid off, as the bid increased to $1.5 million and even gave them an advantage in case of a tie.
Lefkoe asked Avidar to also explain the process during the closing hours, where there is a recurring thirty-minute timer provided if people want to place a higher bid. Avidar added that the atmosphere got "really heated" with two minutes to go, and they counted down the last 20 seconds. Avidar stated that no one expects a bid of such a high stake when only seconds are remaining. He showed off the card on the camera, while also discussing card grading and how it could be more consistent in the future. To anyone looking to buy and trade cards, Avidar highlighted two details one must always know – serial number and scarcity. To conclude, Avidar showed some of his favourite cards of late NBA legend Kobe Bryant.
After the card was sold, Action Network's Darren Rovell spoke about collectors like Avidar viewing the cards as stock. The card was originally a part of a set that retailed for $125 which was released by Upper Deck Exquisite after James was drafted by the Cleveland Cavaliers in 2003. Goldin Auctions described the card by writing that the 'incomparable superstar has penned a vivid blue ink signature on the obverse of this fantastic collectable'. They added that the 'congratulatory statement on the card's back attests to the authenticity of the signature and genuineness of the patch component and serves as Upper Deck’s COA'.
Also read | LeBron James rookie card value could be $1 MILLION at auction: Lakers LeBron James rookie card worth
Leore Avidar net worth: Avidar's SaaS company 'Lob' and card collecting
According to Latka, Avidar and his company were worth around $40 million in 2018. Leore, who co-founded the company with Harry Zhang, previously worked at Amazon as a Technical Business Developer. Leore, who is known to buy and trade cards among other items, has also worked as a trader at Citi Group. In 2017, Leore and Zhang were honoured on Forbes’ annual “30 Under 30” list for "Lob.com", a software company that helps organizations manage and send large volumes of physical mail as easily as emails.
LeBron James stats
James was the No. 1 overall pick by the Cavaliers in 2003 when he won the Rookie of the Year award while averaging 20.9 points, 5.5 rebounds and 5.9 assists per game. James has won three NBA championships over the years and is currently playing for the Los Angeles Lakers. The 35-year-old star is at the NBA bubble at present Walt Disney World in Orlando, Florida. The Lakers will play their penultimate seeding game on Monday, 9:00 PM EST (Tuesday, 6:30 AM IST) against the Denver Nuggets.
DISCLAIMER: The above information is sourced from various websites/ media reports. This website does not guarantee 100% accuracy of the figures.
(Image source: NBA and Goldin Auctions websites)
Updated 12:11 IST, August 10th 2020