Canadian investor Kevin O’Leary, along with two other buyers, purchased the record-breaking Kobe Bryant and Michael Jordan sports card at auction, selling for nearly $13 million, surpassing the previous record. O’Leary bought the card to form a syndicate and avoid competition. The card features logos and signatures of both NBA legends.

Sports collectibles, including jerseys and personal items of athletes, have been gaining popularity in recent years. O’Leary believes the card will not come to the market again in his lifetime and sees it as a valuable asset to grow along with his partners. He views sports card trading as becoming more institutional in nature, similar to collectible watches.

Read more at CNBC: Kevin O’Leary says he bought for $13 million