New Record Set For Most Expensive Sports Card: Steph Curry Rookie Sells For $5.9 Million - Forbes

Topline

Alt Fund II, an investment fund managed by alternative asset platform Alt, announced Tuesday it purchased a 51% stake in a 2009 Stephen Curry National Treasures Rookie Logoman Autograph at a valuation price of $5.9 million, setting a record for the highest price ever paid for a trading card.

Key Facts

The Curry card is stamped as a 1/1 by Panini America Inc, meaning there is only one in existence.

It has been graded Mint 8, on a scale of 1 to 10, by Professional Sports Authenticators.

The autograph on the Curry card is rated as a Gem Mint 10, the highest grade possible, by the PSA grading service.

The previous record-holder was a 2003 Exquisite Lebron James Rookie, which sold for $5.2 million in April.

Crucial Quote:

"Our data shows that Steph's cards have increased 35% in value YTD — compare that to the S&P and you can see the outsized return potential." Leore Avidar, Alt's founder, said in a press release. "We're anchoring Alt Fund II to this purchase and have built a thesis with this asset at its core."

Key Background:

Alt, which launched last year, allows collectors to manage a portfolio of sports trading cards, as well as buy and trade them on their platform. The company reportedly secured $31 million in funding from investors such as Reddit co-founder Alexis Ohanian, NBA stars Kevin Durant and Tobias Harris, and legendary NFL wide receiver Larry Fitzgerald. In July of 2020, Alt purchased a 2003 Exquisite Lebron James Rookie Patch Auto BGS 9.5 in its entirety for $1.8 million. That James card serves as the anchor of the company's first fund, Alt Fund I, which is up 71% since its inception in the fourth quarter of 2020. The funds are open to accredited investors only, allowing Alt to determine who is permitted to invest. The company has not divulged the size of the fund, nor have they disclosed who owns the remaining 49% of the Curry card, or from whom they purchased it. The card will be stored in the Alt Vault.

Big Number:

10,000: That's the number of professionally graded cards Alt has in its vault, summing to a total worth north of $50 million, according to the company.