A groundbreaking transaction involving a Pokémon card setting a new record by selling for $16.5 million US has a connection to Whitbourne, N.L. Peter Petipas, an Avalon Peninsula resident and an auctioneer at Goldin auctions, expressed his astonishment at being part of the deal. Initially expecting to break the trading card record at $13 million, Petipas was surprised when the final bid surpassed $15 million, as he shared with CBC Radio’s The St. John’s Morning Show on Wednesday.
The card in question, the rare Pikachu Illustrator card featuring the beloved Pikachu character, was previously owned by American social media influencer Logan Paul. After a period on the auction block, it fetched approximately $22 million CAD on Monday. Petipas disclosed that the CEO of Goldin auctions, Ken Goldin, had a friendship with Paul and had been persuading him to sell this specific card for some time before Paul finally consigned it to the company.
Petipas, a seasoned auctioneer, noted that the auction of the Pikachu card, alongside a box of first edition base-set Pokémon cards, was a spectacle with the winning bidders present in the room. Each bid was announced with a gong strike by the head of sales, creating an electrifying atmosphere.
Regarding the high selling price, Petipas emphasized the uniqueness of the Pikachu card, with only a few dozen ever produced and Paul’s card being the sole one highly graded by the German authentication company PSA. Paul, present at the auction, expressed both excitement and shock at the impressive outcome, having originally purchased the card in 2021 for $5.275 million US.
The Pokémon franchise, established 30 years ago, has generated over $100 billion US in revenue, with substantial profits reported in 2024. Petipas highlighted Pokémon surpassing Disney’s extensive range of properties as the highest-grossing media franchise, attributing the high auction prices to the brand’s immense popularity and longevity.
He further noted the franchise’s continuous growth through reinvention with new generations, video games, merchandise, and regular releases of trading cards, attracting new fans and customers. As fans mature, they develop the financial capacity to indulge in nostalgic purchases, fueling the ongoing success of the Pokémon brand.
Overall, the Pokémon phenomenon continues to captivate audiences and expand its market reach, promising sustained success and future growth opportunities.