Logan Paul’s 1998 PSA 10 Pikachu Illustrator card sold for $16,492,000 at Goldin Auctions on February 16, 2026, shattering every previous record for a trading card sold at auction. The sale, which drew 97 bids during a livestreamed event, netted Paul an estimated $8 million profit after fees. He originally acquired the card in 2021 through a private trade valued at $5.275 million, making this one of the most lucrative flips in the history of collectibles. A Guinness World Records adjudicator confirmed on-site that it is now the most expensive trading card ever sold at auction, across any category.
The buyer was A.J. Scaramucci, son of venture capitalist and former White House communications director Anthony Scaramucci. In a moment that capped the livestream, Paul removed the card from the diamond-encrusted necklace he had worn to WWE events and public appearances for years, and placed it around Scaramucci’s neck. The sale underscores a broader trend in the Pokémon card market, which has posted the largest long-term increase of any trading card category, rising over 3,200% in the past two decades according to Card Ladder. This article breaks down the card itself, the auction dynamics, what it means for the Pokémon market, and whether cards at this level represent a viable alternative asset class.
Table of Contents
- How Did Logan Paul Turn a $5.275 Million Pokémon Card Into a $16.5 Million Sale?
- What Makes the Pikachu Illustrator the Most Valuable Pokémon Card in Existence?
- Inside the Goldin Auction and the Record-Breaking Bidding War
- Is the Pokémon Card Market a Legitimate Alternative Investment?
- The Risks and Limitations of Chasing Trophy Cards
- How A.J. Scaramucci Became the New Owner of the World’s Most Expensive Card
- Where Does the Pokémon Card Market Go From Here?
- Conclusion
- Frequently Asked Questions
How Did Logan Paul Turn a $5.275 Million Pokémon Card Into a $16.5 Million Sale?
The math on this deal is straightforward, even if the numbers are absurd. In 2021, paul acquired the Pikachu Illustrator through a private transaction structured as $4 million in cash plus a PSA 9 Illustrator card to cover the remaining $1.275 million. At the time, that deal represented the most expensive private pokémon card sale ever recorded. Fast forward to February 2026, and the card fetched $16,492,000 at auction. After Goldin’s buyer and seller premiums, Paul walked away with roughly $8 million in profit on a hold of about four and a half years. For context, that return works out to roughly a 3x multiple on his initial outlay.
Compare that to the S&P 500 over the same period, which returned somewhere in the range of 50-70% depending on exact timing. Or compare it to Bitcoin, which saw dramatic swings but roughly tripled over parts of that window as well. The difference is that Paul held a single physical object, one he wore around his neck at public events, generating constant media exposure that arguably helped sustain and build the card’s cultural relevance. Whether that qualifies as savvy investment or spectacle-driven speculation depends on your perspective, but the return speaks for itself. It is worth noting that the title circulating in some headlines references a 2022 purchase date, but Paul actually acquired the card in 2021. The distinction matters when calculating hold period and annualized returns, though either way the profit margin is extraordinary.
What Makes the Pikachu Illustrator the Most Valuable Pokémon Card in Existence?
The 1998 Pikachu Illustrator card was never sold in packs. Only 39 copies were produced as prizes for winners of a Pokémon illustration contest held in Japan in the late 1990s, distributed through CoroCoro Comic magazine. The card features artwork by Atsuko Nishida, the original designer of Pikachu, and carries the unique label “Illustrator” rather than the standard “Trainer” designation. That limited production run and unusual provenance set it apart from every other card in the hobby. What elevates Paul’s specific copy above the other surviving Illustrators is its grade. It is the only Pikachu Illustrator ever graded PSA 10, meaning Professional Sports Authenticator deemed it gem mint condition, free of any detectable flaws under magnification.
Most surviving Illustrators grade significantly lower, with several sitting at PSA 7 or below due to decades of handling or storage damage. The gap between a PSA 9 and a PSA 10 in the high-end card market is not incremental; it is exponential. Paul’s original trade included a PSA 9 Illustrator valued at roughly $1.275 million as partial payment. The PSA 10 just sold for over twelve times that implied value. However, collectors should understand that this kind of premium is specific to cards where a single copy occupies the top of the population report. If PSA were to grade another Illustrator as a 10 tomorrow, which is theoretically possible if an undiscovered copy surfaced, the value dynamics would shift meaningfully. Scarcity at the top grade is the primary engine driving this price, and that scarcity is never fully guaranteed.
Inside the Goldin Auction and the Record-Breaking Bidding War
The auction took place on February 16, 2026, through Goldin, one of the dominant platforms in the collectibles auction space. It was livestreamed, turning what would traditionally be a quiet phone-bid affair into a public event. Bidding opened strong but stalled for a time at $6.882 million, which already would have represented a significant return on Paul’s investment. Then, during an extended bidding period triggered by last-minute activity, a flurry of bids pushed the final price to $16,492,000. Extended bidding periods are common at major auction houses and function similarly to anti-sniping rules on platforms like eBay: if a bid comes in during the final minutes, the clock resets to allow competitors to respond.
In this case, that mechanism added millions to the final hammer price. The 97 total bids suggest sustained interest from multiple serious parties, not just two billionaires in a grudge match. Sarah Casson, a Guinness World Records adjudicator, was present at the event and officially certified the sale as the most expensive trading card ever sold at auction, surpassing previous records held by sports cards including the 2022 Mickey Mantle 1952 Topps card that sold for $12.6 million. The livestream format also served as marketing for the broader hobby. Thousands of viewers watched the final minutes in real time, generating social media engagement that rippled across communities far beyond the core Pokémon collecting base.
Is the Pokémon Card Market a Legitimate Alternative Investment?
The numbers suggest the market deserves serious attention, even from skeptics. According to Card Ladder, Pokémon cards have posted a cumulative increase of over 3,200% across the past two decades, outpacing most traditional asset classes over the same period. In just the three months leading up to this auction, Pokémon card values rose approximately 25%, a clip that outpaced high-flying equities like Nvidia stock during the same window. But there are critical differences between Pokémon cards and traditional investments that collectors need to weigh honestly. Liquidity is limited; selling a high-value card can take weeks or months, and auction fees typically consume 15-20% of the transaction between buyer and seller premiums.
There is no dividend, no yield, and no cash flow. Storage and insurance costs are non-trivial for six- and seven-figure cards. And the market is heavily sentiment-driven, meaning a broader cultural shift away from Pokémon nostalgia, or a wave of regrade scandals, could deflate values faster than any stock market correction. The tradeoff is real: collectors who bought first-edition base set cards or Illustrators at pre-2020 prices have seen generational returns. Those buying at current market highs are essentially betting that demand will continue to outpace a fixed supply. That bet has paid off so far, but past performance in collectibles markets has never been a reliable predictor of future results.
The Risks and Limitations of Chasing Trophy Cards
The Paul sale will inevitably drive a wave of new money into the Pokémon card market, and that is where the danger lies. Trophy cards like the PSA 10 Illustrator are genuinely one-of-one assets with deep provenance and cultural significance. The vast majority of cards that new collectors will buy are not. A PSA 10 base set Charizard, while valuable, exists in quantities that number in the thousands. A modern card pulled from a current set may look pristine but carries almost no scarcity premium. The grading system itself introduces risk. PSA, BGS, and CGC each have their own standards, and crossover grades between services are not guaranteed.
A card graded PSA 9 might come back as a BGS 8.5 on resubmission, immediately losing value in the eyes of collectors who follow one grading house over another. Counterfeit grading slabs have also become a growing concern, with fake PSA cases appearing on secondary markets at increasing rates. Any collector spending significant money should verify slab authenticity through PSA’s cert verification tool before completing a purchase. There is also a concentration risk specific to the high end. The Pokémon collectibles market is disproportionately influenced by a small number of high-profile buyers and sellers. When Logan Paul buys a card, the media coverage alone can move market sentiment. When he sells, it signals a potential top to some observers. Collectors relying on celebrity-driven momentum for their investment thesis should consider what happens when that attention moves elsewhere.
How A.J. Scaramucci Became the New Owner of the World’s Most Expensive Card
A.J. Scaramucci is not a typical Pokémon collector, at least not publicly. His father, Anthony Scaramucci, is best known for his brief tenure as White House communications director and his role as founder of SkyBridge Capital. The younger Scaramucci’s entry into the market at this level signals that ultra-high-net-worth individuals and their families increasingly view trophy collectibles as portfolio-worthy assets, a trend that has accelerated since the pandemic-era collectibles boom.
The optics of the handoff were deliberate. Paul physically placed the diamond-encrusted necklace containing the card around Scaramucci’s neck during the livestream, a ceremonial transfer that blurred the line between auction and entertainment. Whether Scaramucci intends to hold the card as a long-term asset, display it publicly, or eventually flip it for a higher price remains to be seen. But his willingness to pay $16.5 million for a Pokémon card at public auction suggests this was not an impulsive purchase.
Where Does the Pokémon Card Market Go From Here?
This sale will likely serve as a new psychological anchor for the entire market. When the most expensive card in a category sells for $16.5 million, it recalibrates what collectors and investors consider possible for cards one or two tiers below. PSA 9 Illustrators, first-edition base set holos in gem mint condition, and other trophy-tier Pokémon cards may see upward price pressure as the new ceiling gets priced into market expectations. The longer-term question is whether Pokémon cards can sustain these valuations as the core nostalgic demographic ages.
The collectors driving today’s prices largely grew up with the original 1999 release. As that generation enters their 40s and 50s with peak earning power, demand could remain robust for another decade or more. But unlike baseball cards, which saw a similar boom in the late 1980s followed by a prolonged crash partly driven by overproduction, Pokémon’s fixed historical supply for vintage cards provides a structural floor that sports cards of that era lacked. The 39 Illustrators that exist today will still be 39 Illustrators in 2036.
Conclusion
Logan Paul’s $16.5 million sale of the PSA 10 Pikachu Illustrator is the kind of event that redefines a market. It confirmed that Pokémon cards can compete with fine art, classic cars, and sports memorabilia as legitimate high-value collectibles. The roughly $8 million profit Paul earned on a four-and-a-half-year hold is remarkable by any investment standard, though it required holding a singular, irreplaceable asset with no guarantee of finding a buyer at that price. For collectors and investors watching from the outside, the takeaway is nuanced.
The Pokémon card market is real, it is growing, and the long-term trend data is compelling. But the Paul sale was the peak of the peak, a one-of-one card sold by a celebrity with massive reach to a buyer from a family with deep financial resources. Most cards will never follow this trajectory. The smart play for anyone entering the market now is to focus on condition, scarcity, and provenance rather than chasing headlines, and to treat any purchase at the high end as a long-term commitment with meaningful downside risk.
Frequently Asked Questions
What is the Pikachu Illustrator card?
It is a promotional card from 1998, created as a prize for winners of a Pokémon illustration contest in Japan. Only 39 copies were ever produced, and they were never available in retail packs. The card features Pikachu artwork by Atsuko Nishida and carries the unique “Illustrator” designation.
How much did Logan Paul originally pay for the card?
Paul acquired it in 2021 through a private trade valued at $5.275 million, structured as $4 million in cash plus a PSA 9 Illustrator card worth approximately $1.275 million. Some headlines cite a 2022 date, but the transaction occurred in 2021.
Who bought the card at auction?
A.J. Scaramucci, son of venture capitalist and former White House communications director Anthony Scaramucci. He purchased it for $16,492,000 at Goldin Auctions on February 16, 2026.
Is this the most expensive Pokémon card ever sold?
Yes, and it goes beyond Pokémon. A Guinness World Records adjudicator confirmed on-site that it is the most expensive trading card of any kind ever sold at auction, surpassing previous records held by sports cards.
How many PSA 10 Pikachu Illustrator cards exist?
Only one. While 39 Illustrator cards were originally produced, Logan Paul’s copy is the only one ever graded PSA 10 by Professional Sports Authenticator, which is a major factor in its extreme valuation.
Are Pokémon cards a good investment?
Pokémon cards have risen over 3,200% across two decades according to Card Ladder, and values climbed roughly 25% in just the three months before this sale. However, the market carries significant risks including limited liquidity, high transaction costs, and sensitivity to cultural trends. Trophy-tier cards with genuine scarcity have performed best, while mass-produced modern cards carry far less upside.
