Thank you, Federal Reserve.
A signed rookie card of Dallas Mavericks star Luka Doncic sold for $4.6 million on Sunday, according to the Dallas Morning News.
It is reportedly the highest price ever paid for a basketball card.
Prices have been exploding but this one-of-a-kind card takes things to a new level.
A signed Giannis Antetokounmpo rookie card sold for $1.812 million in September, and a LeBron James signed rookie card sold for $1.8 million in July. Tom Brady had a rookie card sold for almost $600,000 in January, and Los Angeles Angels star Mike Trout had one go for almost $4 million. Michael Jordan had a signed card from the 1992 All-Star Game go for $1.4 million earlier this month.
This kind of price strength only occurs when the Fed is printing massive amounts of new money and that is exactly what is going on.
-RW
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