A 2003-04 LeBron James Upper Deck rookie card went for $1.845 million at an auction on Sunday.

The card was sold to Lob.com CEO Leore Avidar.

The price set a record for a modern-day card, and is the most expensive basketball card ever purchased.

"If we were talking about a T206 [Honus] Wagner, or a 1952 [Mickey] Mantle, it probably wouldn't be that much news. But when you're talking about a card that was literally produced 17 years ago and is for a guy still playing in the NBA, it's just shocking news to a lot of people. It's really where my particular industry has been going for several years," said Ken Goldin, founder of Goldin Auctions.

Only 23 versions of the Patch Autograph Parallel collection for James were ever produced. The card received a 9.5 mint gem grading from Beckett.