Iconic PSA 10 LeBron James Card Sells for Record Price

With LeBron James nearing the end of his career, collectors have been eager to grab some of his most important cards. The latest record sale might surprise some, as it isn’t one of his rarest PSA 10s. A 2016 Panini Studio From Downtown PSA 10 just sold on eBay for $16,000, up almost 40 percent from $11,520 just 11 days ago, despite having a PSA 10 population of 85.

There are several factors that could help explain this sale. The first year of an important set usually appeals more to collectors, and the Downtown insert has become one of the hobby’s most popular. There’s also significance in the fact that this debut year coincided with LeBron bringing Cleveland one of the most impressive championships of all time. It may also be linked to the trickle down effect, as LeBron’s only Gold Vinyl 1/1 Downtown recently sold for over $400,000 at auction. That said, regardless of the reason, and despite the skepticism that this price will last (and rightfully so), the sale of LeBron’s first Downtown teaches us a valuable lesson about supply and demand in the hobby.

A collector turned down a $150,000 cash offer on the 2024 LeBron James Donruss Optic Downtown Gold Vinyl 1/1 and decided to send it to Alt Auctions.

It then sold for $412,676 making it the most expensive downtown card of all-time. pic.twitter.com/zphWKSxVLq
— Alt (@altxyzofficial) September 26, 2025

Supply and demand is often talked about as if the two sides carry equal weight, when in reality the demand is what matters most. It's true that a card with a limited supply doesn’t need as much interest to see its price climb, and scarcity alone can even help create more demand. Still, it’s the demand that drives the value.

Sep 29, 2025; Los Angeles, CA, USA; Los Angeles Lakers forward LeBron James (23) | Gary A. Vasquez-Imagn Images

Many collectors, myself included, were slow to jump on the 2016 Panini Studio From Downtown because its PSA 10 population is higher than other significant inserts of the era. And there certainly is value in chasing cards with smaller print runs, but it’s important not to focus so much on supply that you overlook the ability to see true demand. Whether the demand for this card fades or continues to build its following is something only time will tell.