Logan Paul paid $5.275 million in 2021. Sold it for $16.49 million. After Goldin’s fees, he cleared roughly $8 million in profit. That’s a ~152% net return in 4.5 years. The S&P 500 returned about 40% over the same window. A Pokémon card beat the index nearly 4x. But follow the money past the headline. The hammer price was $13.3 million. The buyer, A.J. Scaramucci (son of Anthony Scaramucci, founder of Solari Capital), paid a 24% buyer’s premium on top. Goldin Auctions pocketed roughly $3.19 million in fees from a single piece of cardboard printed in 1998 for a Japanese manga contest. Paul owned this card for under 5 years. In that time he wore it at WrestleMania 38, got a Netflix special around the sale, and livestreamed the auction to millions. He extracted more value from the attention than the $8 million profit. Scaramucci did the same thing in reverse. Appeared on the livestream minutes after winning, announced and told the world he’s buying a T-Rex fossil and the Declaration of Independence next. He turned a $16.49 million purchase into a company launch with wall-to-wall media coverage. This tells you everything about where collectibles are headed. The card appreciated because each owner used it as a content engine, not a vault asset. Every transaction generates more attention, which makes the next transaction bigger. Goldin takes 24% every time. They might be running the best business model in the room.