In the unusual world of a billionaire investment, not everything is an investment in stocks, real estate, or the sort. Some of the wealthiest individuals on the planet are investing in the sentimental and expanding world of sports memorabilia—items that contain emotion, rarity, and cultural significance. The purchasing of items like game-worn jerseys to larger pieces like record-setting baseball cards ranks among the most extravagant purchases a billionaire can make. Here are some of the most extravagant purchases of sports collectibles, and why they are valuable.
1. Michael Jordan’s 1998 NBA Finals Jersey – $10.1 Million
- The jersey that Michael Jordan wore in Game 1 of the 1998 NBA Finals, widely remembered for appearing prominently in The Last Dance, sold in 2022 and is the single most expensive game-worn item of sports memorabilia ever sold.
- Buyer: Unknown, speculation suggests it is from a tech billionaire.
- Why it’s important: The value is created from Michael Jordan’s status and appeal as a global icon, along with the significant cultural relevance of the 1998 season.
2. Mickey Mantle, 1952 Topps Baseball Card — $12.6 Million
- In 2022, a Topps card featuring New York Yankees baseball legend Mickey Mantle in near-mint condition sold for an incredible $12.6 million at auction. This would prove to be the all-time record price paid for any sports card.
- Purchaser: A successful entrepreneur worth billion and a prolific collector of cards, with rumors of a former career in hedge funds.
- Why It Matters: The card has long been considered the “holy grail” of baseball cards as far as being rare and culturally significant.
3. Diego Maradona, “Hand of God Jersey” — $9.3 Million
- Iconic jersey worn by Maradona during the disputed quarter-final match of the 1986 FIFA World Cup against England at the Sotheby’s auction in 2022.
- Purchaser: Anonymous Middle Eastern bidder and most likely a billionaire.
- Why It Matters: One ambition (and scandal) from the past that is associated with the greatness of a player.
Also read: Jeff Bezos’ Secret Luxury Watches—Prepare to Be Shocked!
4. LeBron James Rookie Card – $5.2 Million
- In 2021, a rare (Exquisite Collection, signed, limited edition) 2003 LeBron James rookie card sold privately in a transaction that was completed via PWCC Marketplace.
- Buyer: Sold privately to a high-net-worth sports investor via PWCC Marketplace
- Why It Matters: LeBron is well on his way to becoming the NBA’s all-time leading scorer, so its future worth is substantial.
5. Muhammad Ali “Fight of the Century” Gloves – $1.1 Million
- These iconic gloves were donned by Ali during his 1971 blockbuster bout against Joe Frazier.
- Purchaser: Billionaire owner of sports teams (unknown)
- Why It Matters: Embodies a halcyon period of boxing and a turning point in Ali’s legendary career.
Why Billionaires are Buying Sports Memorabilia
- Sentimental value: Billionaires are often lifelong fans so they are getting a piece of history with sentimental attachment.
- Scarcity & exclusivity: Unique items, especially game-used memorabilia, tend to grow in value over time.
- Portfolio diversification: Physical collectibles help to hedge against inflation as well as economic downturns.
- Cultural Capital: Iconic items can help build one’s brand as a collector or even a fan of institutional value (i.e. Crowning achievement for fans and finances).
The Future of Collecting Sports Memorabilia as Investments
The emergence of fractional ownership platforms and the authenticity of blockchain (by way of NFTs), presents the opportunity to see the marketplace for sports memorabilia become more transparent and accessible; however, trophy assets (like the aforementioned) will continuously sit in the hands of billionaires who have truly entered the highest level of the highest level of wealth. As I have said, these purchases are not purely about fandom; it really is a mix of legacy, fandom and long-term value. For some, these storied items are reminders that a game’s worth isn’t just by the emotional attachment a person has invested, but rather it’s multimillion-dollar historical finance.
Written by Pranjal Data
