
$1.06M for a Card That Doesn't Exist Yet: The SGA Logoman Redemption Record and the Math on Buying an IOU
Shai Gilgeous-Alexander's first seven-figure card sold for $1,061,400 at Goldin — but the buyer didn't take home a card. They bought a redemption: an unfulfilled IOU for a 1/1 that Topps hasn't made yet. Here's what that actually means for price, risk, and liquidity.


