Authority CEO Jeff Mullen Comments On Logan Paul’s Pokemon Card Auction, What It Means For The Card Industry

In February, Logan Paul sold a rare Pikachu Illustrator Pokémon card for $16.5 million.

Authority CEO Jeff Mullen answered a variety of questions pertaining to the sale and what it means for the card industry:

What does this huge auction number mean over all for the trading card industry? OR is this a one off stunt/fluke? Does Logan Paul’s WWE stardom, and the fact that he wore the card in the ring, add to its value?

There’s a perfect storm happening here, extreme rarity plus cultural relevance. That Pikachu Illustrator card is one of the rarest Pokémon cards ever made, and Logan didn’t just buy it… he turned it into a narrative. He wore it on a diamond chain at WrestleMania, blasted it across social platforms, and basically made it symbolic. That kind of storytelling inflates demand beyond the traditional collectibles market…. it becomes pop-culture lore. In collectibles, authenticity and story usually drive value, but celebrity drives attention, and attention turns into bids and broadens the buyer pool. A.J. Scaramucci, founder of Solari Capital and son of Anthony Scaramucci, didn’t just buy the card – the bought the provenance of the card and its publicly. A collectible is typically worth more if it can be tied to a famous owner. When Loan Paul put the card – and the included custom Wrestlemania Poke Ball chain – over A.J Scaramucci’s neck, A.J. also received valuable awareness and relevancy for his new business venture that involves the illustrator card.

Pokemon and trading cards have been increasing in popularity since they were introduced. Today, collectibles can touch even more people and be transacted in more trusted ways. First, nostalgia…millennials and Gen Z grew up with these cards and now have spending power. Second, authentication systems have matured, which gives buyers confidence to invest. Third, access to trading and sales platforms have turned what were quiet collector markets into spectator events. And finally, cards like this setting records.. they prove there’s demand at these levels.

Is this good or bad for regular investors and collectors overall? Do any changes effect sports cards as well as Pokemon cards?

Collectibles are a mainstream asset class and continue to set records. A few months ago, a Jordan/Kobe card sold for $13 million. Today, a Pokémon card sold for $16 million. Records are not just being set in trading cards. They are being set in many collectible categories. An Action Comics #1 sold last month for a record $15M. Over the last few years we’ve seen the most expensive car, watch, coin, movie prop – you name it – sell at auction. Art prices have increased for hundreds of years. Top-tier collectibles are no different. These are tangible assets that are, in and upon themselves forms of pop-culture art.

Do you think more star athletes will get involved in these kinds of things with trading cards?

Almost every professional athlete today and many minor league athletes have trading cards. Many athletes grew up collecting trading cards and still collect today in the locker room and in their home.

What’s new in wrestling trading cards — would love to hear about what’s hot, how values are doing, what’s are a few “grail” like cards everyone wishes they could get?

Wrestling cards are growing materially with the introduction of the All Elite Wrestling (AEW). Collectors can now collect wrestling cards from both AEW and WWE.

What’s the most valuable card in wrestling?
The current benchmark sale that gets referenced most often is the 1982 Wrestling All-Stars Hulk Hogan, which has sold for $132,000 in a PSA 9 and is widely cited as the record for a wrestling card sale.

Does this Logan Paul moment change anything for the Authority specifically?

Anytime a record is set, collectors want to identify, authenticate, and grade their collectibles. The Authority is the only platform that provides authentication, grading, vaulting, and marketplace services for comics, figurines, trading cards, and trading card games all in one place.