'No different' than gold: Kevin O'Leary just paid $13M for a basketball card — are collectibles the next big thing?

Core Insights - Kevin O'Leary made a record-breaking purchase of a Kobe Bryant and Michael Jordan dual-logoman collectible trading card for $12.9 million, highlighting the financial potential of rare collectibles [3][8][9] - O'Leary views collectibles as alternative investments comparable to gold and bitcoin, emphasizing their rarity and appreciation potential [3][4][10] Investment Perspective - The purchase is part of a broader trend where collectibles are seen as viable investment assets, similar to traditional alternative investments like gold and cryptocurrency [4][10] - O'Leary's interest in collectibles was sparked by his collaboration with Fanatics CEO Michael Rubin, who acquired Topps Trading Cards, leading him to explore high-value trading cards [2][4] Market Dynamics - The collectible card market is gaining traction, with O'Leary noting that the emotional connection and uniqueness of items drive their value, akin to fine art [10][11] - The card purchased is described as the "finest modern basketball card in the world," indicating a growing recognition of the collectible market's value [8][10] Collectibles as an Asset Class - O'Leary's strategy includes forming a "collector advisory board" and potentially launching a fund related to Secure Collectibles, which focuses on lending, sourcing, and private sales of collectibles [1][3] - The emotional and generational appeal of collecting is highlighted as a key factor in the market's growth, with O'Leary suggesting that it fosters entrepreneurial skills [9][10]