And once again, all roads lead to Mr. Wonderful. But wait, this wasn’t Shark Tank. The 2007-08 Upper Deck Exquisite Collection Dual Logoman Autographs Jordan & Bryant card numbered 1-of-1 (that’s a mouthful!) just made sports collectible history. It surpassed a $12.6 million worth Mickey Mantle card sold in 2022 as the most expensive card ever, with a $12.932 million final sale price on Saturday night, that is, Kobe Bryant’s birthday. Once we were over the eye-popping price, we had to find out who the new owner/s were. It was surprising enough to find out there was more than one owner. It was a whole other shocker when one of the headliners of this sale was the Kevin O’Leary.

Like a nine-figure Shark Tank deal, Kevin O’Leary accomplished this feat by putting together an investor group. Hobby mega-collector Matt Allen (better known as Shyne150 on social media) and entrepreneur Paul Warshaw partnered with him for the purchase from Heritage Auctions.

Now, if you know Mr. Wonderful, you know he’s no collector except for the tears and crushed dreams of entrepreneurs he gives a reality check to. Nor is it conventional to have an ownership group for a single collectible like it’s a sports team. But to O’Leary’s sharp mind, anything can be an investment.

This singular card is the latest ‘investment’ in his portfolio that boasts Wicked Good Cupcakes and BasePaws. “It’s going to be a part of an index that I’m going to continue to grow along with my partners,” he said. “We look at it no different than our bitcoin holdings, our ethereum holdings, our gold holdings.”

No royalties at play here. O’Leary founded this collective, where they mutually decided to not outbid each other. It’s just surprising that Mr. Wonderful jumped into a business he formerly hated. He admitted that he still didn’t understand the hype. “Why would anyone spend a million dollars on cardboard?” he asked. But the trading card business has come a long way since the junk wax era.

Kobe Bryant’s memorabilia is expensive enough, and Michael Jordan’s name dominates the search for collectibles even today. After studying the market, the notorious art collector realized it’s no different from the fine art business, only not limited to the 1% populace with unlimited bank accounts.

While he sees this with dollar signs in his eyes, the card has some sentiment. Not all that good, either. So, fans had mixed feelings finding out a shark is wading the trading card waters.

Fans mourn the sports card hobby after Michael Jordan-Kobe Bryant incident

This card also surpassed Stephen Curry’s logoman, which was previously the most expensive NBA card ever sold at $5.9 million. Fans were already displeased by then, as it spurred another debate on exploiting the late Kobe Bryant’s legacy. When Kevin O’Leary phrased it as an investment, fans were quick to say, “Dude is not worthy of owning that card.”

It would’ve been a different case if it were Mark Cuban, the former Mavs owner, who collected sports cards when he was young. Fans feel Matt Allen will give this card its due respect, but O’Leary’s involvement seemingly sours a beloved hobby. From declaring, “He is Not in it for the hobby just for the money 😮” to mourning, “Chat, the hobby is cooked 😢” most aren’t reacting to the news well.

Others are skeptical. Across 16 seasons of Shark Tank, O’Leary, who’s known to display his rare watch collection on both wrists, has rarely plunged into uncharted territory without proof of concept. There is some proof in the trading card business, though. While Michael Jordan’s PSA 10 cards can sell for anything in the three-to-six-figure range, it’s considered much lower for the space. Because there are too many Michael Jordan cards in existence. They’d have to feature his autograph or be 1-of-1 to fetch a higher price, and even then, it doesn’t surpass some of the MLB greats.

O’Leary, though, has steadily built a collection of basketball cards. Fans believe that by buying this particular Logoman, Mr Wonderful is pushing his agenda. “Of course he says that, drives the hype up even more. It’s a shame that big business has entered the chat, just another thing they can control the market on now.” 

The $400 million worth investor claimed he won’t be selling the card in his lifetime. Even without that, his big arrival in the card trade will change the game. Fans are reminded of the bitcoin and NFT businesses before celebrities dove in and ruined it. At most, they think O’Leary can cash in on the current hype by suggesting, “He will ask for 100$ royalty every time this is reposted 😂”

It’s his sudden about-turn that gives everyone whiplash. Although he’s the kind of guy to call a bootstrap beverage company “cockroaches,” then turns around and invests in Zen Water and Zipz Wine. He was never an investor in the sports business, nor is he getting into it through a televised pitch. This is an opportunity he discovered for himself, and now more hobbies are in jeopardy. So this one comment –  “Wait till he hears about Pokemon.” – might as well be a warning for his next deal. Or the user might have just given Mr. Wonderful his next ‘wonderful’ investment idea.