Rare Michael Jordan Basketball Card Sold on eBay for $350,000 after Bidding War

A rare Michael Jordan basketball card was sold on eBay for a record price earlier this week.

The auction was handled by PWCC Marketplace on behalf of a private owner and a bidding war broke out over the memorabilia, with the selling price surging by almost $150,000 in the final two minutes.

According to the Chicago Tribune, the card is one of the Chicago Bulls' Precious Metal Gems Green cards from the 1997-98 season, but only one of the 10 cards to be produced as insert cards for Skybox's Metal Universe packs .

Jordan's card is number six out of 10 and the only one to have been authenticated and graded by the Professional Sports Authenticator .

This 1997 Michael Jordan basketball card was sold by @PWCCmarketplace on eBay last night for $350,100.

The card, which was limited to 10 and was graded by PSA as "altered," became the highest priced basketball card ever sold on eBay. pic.twitter.com/7MGEiT2GxB

— Darren Rovell (@darrenrovell) February 21, 2019

Furthermore, collectors believe the card might be one of only three Jordan PMG Greens to be in circulation.

It is no wonder that experts described the card as the "holy grail" for collectors.

"We call it a 'holy grail' because it's so scarce and so desired that you just frankly never see it," said Brent Huigens, CEO of PWCC Marketplace , was quoted as saying by the Tribune.

"This is the first one I've ever handled in my life. Most people have never even seen an image of one."

While the final sum might not be as eye-watering as the prices some pieces of Jordan's memorabilia such as game-worn shoes and jerseys have been sold for, it represented a record nevertheless.

"I believe it's the highest-selling Jordan card of all time," Rich Mueller, editor of Sports Collectors Daily, was quoted as saying.

The card, however, is not the highest-selling basketball card ever, an award that belongs to a 1969 Lew Alcindor rookie card by Topps, which was sold for $501,900 through Heritage Auction.

A 1948 George Mikan rookie card sold through SCP Auctions fetched $403,664.

Mueller indicated the card's value had probably been inflated because of the significance the 1997-98 season had for the Bulls and Jordan.

The campaign was Jordan's last of his second spell with the Bulls and was capped by a third consecutive title, as Chicago defeated the Utah Jazz 4-2 in the NBA Finals in a repeat of the 1997 series.

The triumph marked the second time the Bulls won three titles in a row, having first completed a three-peat between 1991 and 1993.

Jordan celebrated his sixth and last appearance in the NBA Finals with a sixth NBA Finals MVP crown, becoming the first and so far only player in NBA history to win the award six times.

By comparison, Tim Duncan, Shaquille O'Neal, Magic Johnson and LeBron James have won the award three times each.

Michael Jordan
Michael Jordan, owner of the Charlotte Hornets, takes part in a ceremony honoring the 2020 NBA All-Star game during a break in play as Team LeBron take on Team Giannis in the fourth quarter during the NBA All-Star game as part of the 2019 NBA All-Star Weekend at Spectrum Center on February 17 in Charlotte, North Carolina. Team LeBron won 178-164. Streeter Lecka/Getty Images