Popular Michael Jordan card pauses bidding war at Iowa auction

There’s luck, and then there’s this. On Thursday, the Iowa state treasurer halted an auction after discovering a Michael Jordan card in the lot that could be worth hundreds of thousands of dollars.

Michael Jordan memorabilia is always a hot commodity. Nonetheless, the desirable artifacts only grew in value after “The Last Dance” released in 2020. One collectible that particularly benefitted was the Fleer Michael Jordan rookie card.

Fleer released this ultra-rare card in 1986 following Jordan’s outstanding debut campaign that earned Jordan Rookie of the Year honors. In May 2020, one of these cards sold for nearly $100,000. Only a few months later, the card’s price skyrocketed, selling for $420,000.

The card’s price reached its peak in late 2021 when it sold for a whopping $720,000. Since then, the card’s price has deflated back to a natural resting point. However, this Iowa auction’s wild discovery may balloon the piece’s value once again.

The 1986 Fleer Michael Jordan #57 PSA 10 rookie card has publicly sold 109 times in the last 3 years. pic.twitter.com/sQrKr0jISE

— The Collectibles Guru 🧠 (@ericwhiteback) March 4, 2023

The state was auctioning off lots from abandoned safe deposit boxes to free up space in the property vault. One of these boxes was full of sports trading cards. Upon publishing a picture of the contents in this box, bids flooded in to the site.

After discovering the reason behind the chaos, the Iowa state treasurer pulled the card and restarted the auction. Often, these cards are counterfeit due to their desirability. Thus, the state is sending the card to be examined by an expert. They claim the process could take up to six months.

With hopes to still find a treasure in the lot, the current highest bid for the bundle of trading cards sits at $600. Bidding ends on June 14. However, if the Jordan card is verified and put back into the auction, collectors can expect to be emptying their pockets of far more change.