BONUS: WWE's Logan Paul & Goldin CEO Ken Goldin

Summary

Bloomberg Business of Sports

Episode: BONUS: WWE's Logan Paul & Goldin CEO Ken Goldin
Date: February 14, 2026

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Episode Overview

This bonus episode of Bloomberg Business of Sports dives deep into the world of sports and collectible trading cards with two guests: Logan Paul—WWE star, entrepreneur, and high-profile collector—and Ken Goldin, CEO of Goldin Auctions and star of Netflix’s "King of Collectibles." The conversation explores the motivations, risks, and emotional highs and lows behind collecting rare cards and sports memorabilia, the dominance of Pokémon in the collectibles space, and the intersection of culture, finance, and nostalgia driving the multimillion-dollar trading card industry.

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Key Discussion Points & Insights

1. The Genesis of the Deal: Logan Paul's Pikachu Illustrator Card

• Opening Remarks (01:13):
  The host welcomes Ken Goldin and Logan Paul, celebrating the new season of Goldin's Netflix show.
• Logan Paul’s Motivations (01:51–02:36):
  Logan shares why he’s selling his iconic "the card," the Pikachu Illustrator:

  • The Pokémon market is "hotter than it’s ever been," outperforming the stock market by 3,000% over 20 years.

  • He bought the card for $5.3 million in 2022.

  • Personal milestones—marriage, a house, a daughter—make it the right time.

  • Ken Goldin "gave me a deal I could not refuse."

    "Luckily for me, I heavily invested in Pokémon and this card was my heaviest investment. I spent $5.3 million for it back in 2022."
    —Logan Paul [02:09]

2. Pokémon's Unbeatable Status in Collectibles

• Cultural Staying Power (03:41–04:06):
  Logan explains why Pokémon dominates:

  • Pikachu is immune to real-world scandals or injury that can sink athlete values.

  • Pokémon is "the most beloved, most famous character of all time," and the franchise is the top-grossing ever.

  • It sits at the intersection of "community, culture, and collectibles."

    "Pikachu can't tear his ACL. Pikachu won't whip out a Glock on Instagram Live and get his brand destroyed overnight... Pokémon is the highest grossing franchise of all time."
    —Logan Paul [03:44]

3. Collector Psychology: Nostalgia, Status, and Emotion

• Evolution of Collectors (04:16–06:03):
  Ken discusses how the aging Pokémon and sports card fan base now has money to spend on their childhood obsessions.

  • Collectibles are "history," "capture moments in time," and provide "instant gratification."

  • He describes his business as "selling happiness."

    "People have a crappy day at work... but they go home and they look at their collection and it makes them happy."
    —Ken Goldin [05:51]

• Emotional Highs and Lows (06:03–06:23):
  Logan jokes about losing auctions to celebrities like Drake, highlighting the passion and rivalry among collectors.

  "He sells happiness until you lose the auction against Drake."
  —Logan Paul [06:03]

4. What Makes a Collectible Valuable?

• Logan's Philosophy (06:43–07:50):
  Logan values "best in class assets" across a variety of interests—from Wayne Gretzky’s game stick to dinosaur skulls.

  • Importance of having items tied to "generational icons."

    "For me, it's best in class assets. What is something that I can buy that is captivating in a way, and my interests are vast, that is the best in the world."
    —Logan Paul [06:45]

5. The Thrill, the Risk, and the Reality of Collecting

• The Chase and its Thrills (08:14–09:07):
  Logan and Ken describe the emotional ride of card hunting:

  • The process includes extreme highs (the "hit") and tolerable lows ("the chase for a reason").

  • Opening card packs is compared to "a game of failure"—most boxes disappoint, not all cards are valuable.

    "Part of collecting is sometimes winning and sometimes losing. That's the name of the game."
    —Logan Paul [08:37]

• Card Grading & Value (09:07–10:12):

  • Even when a valuable card is pulled, its grade ultimately determines value.

  • Only 5-15% of cards get a perfect "10" grade.

  • Slight imperfections (whitening, blemishes) can dramatically drop a card’s value, which surprises newcomers.

    "Even if you hit the card in the box, which is not very likely, you have to hope it gets graded a 10... You would be shocked."
    —Logan Paul [09:38]

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Notable Quotes & Memorable Moments

• On the unique value of Pokémon:
  "Pikachu can't tear his ACL... He's the most beloved, most famous character of all time."
  —Logan Paul [03:41]

• On the collector’s mindset:
  "These collectibles are... history. And when you own something like that, it brings instant gratification. It brings instant recognition."
  —Ken Goldin [05:16]

• Collector rivalry exposed:
  "I was bidding on a Bob Ross against Drake. I didn't realize it was Drake. And I was like, this person is outbidding me. Who is this?"
  —Logan Paul [06:06]

• The thrill of the chase:
  "Opening up boxes sometimes is a game of disappointment because not every box is going to have the ... Willy Wonka golden ticket."
  —Ken Goldin [08:47]

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Key Timestamps

• 01:13 — Guests introduced: Ken Goldin and Logan Paul
• 01:51 — Logan discusses timing and personal reasons for selling the Pikachu Illustrator
• 03:41 — Why Pokémon dominates collectibles
• 04:16 — Ken on sports vs. Pokémon collectors
• 05:51 — "I sell happiness": Ken on emotional value
• 06:03–06:14 — Collector rivalry: Logan vs. Drake
• 06:45 — Logan’s view on "best in class assets"
• 08:14 — The thrill (and reality) of card collecting
• 09:38 — Card grading: The fine line between nine and ten
• 10:12 — Episode close

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Episode Tone & Style

The conversation is lively, candid, and humorous, reflecting both the personalities of the guests and the high-stakes passion of collectors. Logan Paul brings enthusiasm and self-deprecation about his eclectic investment choices, while Ken Goldin frames the collectibles market as driven by nostalgia and the search for joy. The episode demystifies the industry for newcomers while capturing the addictive excitement that keeps collectors chasing the next big find.

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This summary covers major themes and moments, providing a comprehensive snapshot for listeners curious about the business—and emotion—in today’s collectibles boom.

Transcript

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[Podcast Host (Female)]

Ken and Logan, thanks so much for joining the Bloomberg business of sports. I'm so excited to have you guys here.

[Ken Goldin]

Glad to be here. I appreciate it.

[Logan Paul]

Yeah, thanks.

[Podcast Host (Female)]

So, Ken, the new season of your show just came out on Netflix this season and I, you know, I tuned in. It is so, it's so good. It's so interesting. There's all the different human stories of it. Logan, you come in, you lure him in with, you know, trying to break in some, some boxes, trying to find some rare cards. Logan, I have to, you know, jump right in here. You have the card around your neck now. The, the Pikachu illustrator Ken has been trying to buy it from you. Why is now the right time?

[Logan Paul]

Yeah, I appreciate how you said the card.

[Podcast Host (Female)]

The.

[Logan Paul]

It is the card. And that's, that's how I reference it. Yeah. Now's the right time for a few reasons. Mainly because the pokem is hot. It's hotter than it's ever been. There is actually a Bloomberg article that came out recently highlighting that Pokemon has outperformed the stock market by upwards of 3000% in the last 20 years. Luckily for me, I heavily invested in Pokemon and this card was my heaviest investment. I spent $5.3 million for it back in 2022. And given that the market's hot, given that I just spent way too much money on my wedding, but it was the best experience in the world. So totally worth it given that I just bought a new house, have a, have a daughter, it was like the perfect time in my life. And Ken gave me a deal I could not refuse.

[Podcast Host (Female)]

Can you just lure him in with the idea of you're going to find a rare card? And then you were like, really? I really just want. I want you.

[Ken Goldin]

I know, I know. He's like a kid opening up boxes. You know, he gets very excited and the, the opportunity to, you know, try to find a card that we were looking for, you know, worth. Worth six or seven million dollars. And then the hidden opportunity that nobody knew until they started watching the show about opening up the T206 cards from 1909. Got them. But quite frankly, it's always better if you can get in front of somebody and talk face to face and figure out, okay, what is going to make this deal happen, what are they looking for and how can I help them accomplish that goal? And that's what I did with Logan. Yeah.

[Podcast Host (Female)]

You know, it's interesting as we're obviously we're talking about sports and when I think of trading cards, I almost think of it as a sports entity in a sports industry. But really, Pokemon does dominate the trading card industry. Why? Why is Pokemon so hot right now? Why is it still sharing so much of the market?

[Logan Paul]

Because Pikachu can't tear his acl. Pikachu won't whip out a Glock on Live and Instagram Live and get his brand destroyed overnight. He's Pikachu. He's the most beloved, most famous character of all time. Pokemon is the highest grossing franchise of all time. And so it sits at this intersection between community, culture and collectibles that happens to be at the very pinnacle of what this entire industry is.

[Podcast Host (Female)]

I love the way you said that. For sure. At the epitome of everything, right? The intersection of everything. Ken, what I'm building on that. What do you think it is and are they different collectors, sports collectors and.

[Ken Goldin]

Pokemon collectors, some are different. There are a lot of people that collect both. I mean, people who want. The buyer of that card, to me, is more likely going to be somebody who spent, you know, $5 million on a sports card before, and they simply want to own the absolute single best item that they can get. Not just in Pokemon, but in the world's largest franchise. And the other thing that, you know, I notice is, you know, you know, Pokemon started 30 years ago, so you had, you know, maybe 9 year olds, 12 year olds, 15 year olds that were playing it, you know, late 90s, 2000s now, you know, except for Logan, you know, they're, they're, you know, in their 30s and 40s and maybe and somebody even older is in their 50s and they have disposable income and they're now spending it on all the stuff they couldn't afford when they were younger. Because this to them is their life. Whether it's a sports card, whether it's a Pokemon card, whether it's an autograph or a game used item, these collectibles are, you know, capture moments in time. They're history. And when you own something like that, it brings instant gratification. It brings instant recognition to you and to anybody that sees it, like, oh, I remember that. Or this is what this represents. And you know, I told one person one time, they said, what do you do for a living? And I said, I sell happiness because people have a crappy day at work, their kid gets bad grades, they get into a fender bender, but they go home and they look at their collection and it makes them happy.

[Logan Paul]

Yeah, he sells happiness until you lose the auction against Drake. Exactly, Exactly. I was bidding on a Bob Ross against Drake. I didn't realize it was Drake. And I was like, this person is outbidding me. Who is this?

[Podcast Host (Female)]

You had no clue.

[Logan Paul]

Meanwhile, Ken's behind the scenes, like, oh my God, it's Logan versus Drake. I gotta go, Logan. Tell him he's not gonna win.

[Podcast Host (Female)]

He was, he was the happy one that.

[Logan Paul]

Yeah, I was, I was very sad I didn't win that day.

[Podcast Host (Female)]

But there is that emotional connection to it, right, Logan? Like he was saying, like, you're a big collector and you had mentioned about vastly different things for when you're, when you're collecting, what is it that you look for that emotional connection. And also, I know you had said on the show, for you, it's not about the return, really. You just like to have these things as collectibles.

[Ken Goldin]

It's true.

[Logan Paul]

I always try to keep the return in mind. You don't want to be making like absolutely ridiculous purchases, which I have done. But for me, it's best in class assets. What is something that I can buy that is captivating in a way, and my interests are vast. That is the best in the world. I bought Wayne Gretzky's last championship game hockey stick. There's not going to be another one of those. He's the greatest hockey player of all time. By a mile. It's number nine. He's the great one. Wayne Gretzky. To me, that's a no brainer. Game worn Kobe Bryant jerseys. Game worn LeBron. These, these, these are athletes that are, are Generational. And so when I'm investing in things like that or, or buying a, a triceratop skull, it's like, okay, it's, it's art. It, it is a collectible that will hopefully hold and, and, and maybe even appreciate it's in value. And, and I, and I, and I like it. I mean, like, dinosaurs are the coolest thing ever. Kobe Bryant, LeBron James is like, these guys are generational icons. And so if I can have something, you know, that, that means a lot to me and meant a lot to them, I'm in.

[Podcast Host (Female)]

Yeah, absolutely. And one of the things I loved on the show is that moment you had talked about when you're, when you're looking for that onus Wagner, when you're looking for that card, but you had also just found a bunch of rare cards. You'd found the Hulk Hogan rookie cards. You guys were on this ecstasy high. And then Logan ends up on the floor when there's nothing in, in the pack. Tell me about what it feels like that as, as a collector, does that just encompass everything that it feels like to be a collector?

[Logan Paul]

Logan, it's the ride. For me, it's the ride. I mean, like, when we hit, it's fantastic, and that high is the highest of highs, but also when you miss, it's not the lowest of lows because, like, to me, that's the name of the game and that's almost just as much fun. Like, it's the chase for a reason and it's a thrill and you're not always going to hit. And you have to understand that part of collecting is, is, is sometimes winning and sometimes losing. That's the name of the game.

[Podcast Host (Female)]

What about you, Ken? That feeling for a collector.

[Ken Goldin]

You have to. If you're going to open up boxes, it's kind of like they say, baseball. Baseball is a game of failure. Opening up boxes sometimes is a game of disappointment because not every box is going to have the thousand dollar card or the $50,000 card or what I call the Willy Wonka golden ticket.

[Logan Paul]

I'd say, I'd say most times, actually. Yeah, like, statistically speaking, actually, most times, opening up a box is not worth the return on investment. Because even if you do open up a box and you hit that grail card in the box, you have to hope it gets graded a 10, which is a whole nother part of the process. And grading, meaning the condition assigned to the card, that is the main thing that determines a card's value. And to get a 10, which is obviously the, the best grade you can possibly get, meaning the best condition that.

[Podcast Host (Female)]

You can get, which is where you.

[Logan Paul]

Have yours, which is what I have around my neck. One of one is really hard. I think a subset like 5 to 15% of cards get assigned tens. So even if you hit the card in the box, which is not very likely, you have to hope it gets graded to 10. And the little nicks and the damage that will get this knocked down from a 10 to a 9. An average person would be shocked if I showed you the little bit of whitening on a corner or a blemish on a surface that can knock it down from a 10 to a 9 and make it a multiple of its value. You would be shocked.

[Podcast Host (Female)]

It's a crazy market, huh? Logan, Ken, thanks so much for joining the Bloomberg Business Sports Super. Appreciate your stuff.

[Logan Paul]

Yeah, of course. Thanks for having me.

[Ken Goldin]

And again, everybody, Netflix King of collectibles, the Golden Touch. Watch Season three if you want a Season four, go watch Season three.

[Logan Paul]

Let's go. Let's go. I'm coming on Season four King.

[Ken Goldin]

Here we go.

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