LeBron James' record-breaking $1M rookie card could fetch $2M at end of auction

In June, Goldin Auctions announced that they would be auctioning off a rare LeBron James rookie card. Before the auction even began, there were reports about the rare No. 14 card fetching over $1 million. Now, the bid for the card has reportedly crossed the $1 million mark and could increase more till the auction officially ends on Saturday, 10 PM EST (Sunday, 7:30 AM IST). 

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LeBron James rookie card could be sold for $2 million?

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In a recent episode of the Beckett Live Presents, Ken Goldin, Founder and CEO of Goldin Auctions, spoke about the Upper Deck "Exquisite Collection" card, which is currently listed on their website. As per Goldin, the have many interested bidders for the card, and could have 'a lot of room to move". As per TMZ Sports, the card could be sold for around $2 million. 

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JUST IN: We have a new record for a modern day card. This LeBron card is currently at $960,000, including buyer’s premium, in @GoldinAuctions sale.

There are 23 days left.

Previous record was Mike Trout card, which sold in @GoldinAuctions sale last month for $922,500. pic.twitter.com/5gOzn0h46r

— Darren Rovell (@darrenrovell) June 26, 2020

Action Network's Darren Rovell had previously reported that the rookie card had set a new record for a modern-day in June itself with a bid of $960,000. Mike Trout's card held the previous record for $922,500. Rovell as well as TMZ Sports, had reported that the item will easily cross the $1 million mark. As the card is one of only 23 cards and has a 9.5 out of 10 mint rating, the price for the card was always supposed to be high. Goldin Auctions site lists the card as 'arguably the most desirable and valuable card in the world'.

The card was released over a decade ago and originally retailed at $125. The Upper Deck Exquisite released the card after the three-time NBA champion was drafted by the Cleveland Cavaliers in 2003. The auction site had stated that as prices for basketball memorabilia were soaring, they knew this would be a record-breaking sale. A minimum of $25,000 bid could have been placed on the card. 

Goldin Auctions further described the card by adding 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'.

LeBron James, who was the No. 1 overall pick during the 2003 NBA Draft, is still considered one of the most highly-anticipated rookies of all time. That year, James won the Rookie of the Year award while averaging 20.9 points, 5.5 rebounds and 5.9 assists per game. The Lakers star is currently at the NBA bubble at Walt Disney World in Orlando, Florida, preparing for the NBA restart on July 30. James and the Lakers will be facing the LA Clippers for their first seeding game on July 30 at 9:00 PM EST (July 31, 6:30 AM IST). 

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(Image source: NBA stats official Twitter, Goldin Auctions official site)