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A PSA 10 Raincoat Pikachu sold for a reported $8.4 million because it is a scarce, competition-created Pokémon card—and because one buyer paid an extraordinary amount for this particular copy. Fanatics Collect’s auction record lists the September 28, 2026 sale at $8.4 million including buyer’s premium, after 64 bids. That result is not a reliable estimate of what another copy is worth: reported PSA 10 sales earlier in 2026 were far lower, and available reporting does not explain the dramatic jump.
What sold for $8.4 million?
The lot was titled “2015 Pokemon Japanese XY Promo Art Academy Fujishima Pikachu #XY-P PSA 10 GEM MINT.” It is commonly called Raincoat Pikachu for its artwork: Pikachu wearing a red raincoat beneath an umbrella. This was a promotional card tied to an illustration contest, not a card pulled from an ordinary retail booster pack.
Fanatics Collect’s lot record lists a sale date of September 28, 2026, a total of $8,400,000 “W/ Buyer’s Premium,” and 64 bids. The winning bid before the premium was reported as $7 million; the $8.4 million headline is the buyer-inclusive total, not the hammer bid. The listing says the lot was flash inserted on September 16 into the 245th Weekly Sunday Auction, which closed on the evening of September 27, while the recorded sale date is September 28. The lot identifies PSA certification number 24753376. Fanatics Collect’s lot record is the primary source for its sale metadata.
Why is Raincoat Pikachu scarce?
It originated in an illustration contest
In a November 28, 2014 report, Japanese outlet Famitsu described a Pokémon Art Academy and Pokémon Card Game illustration contest. Pokémon Art Academy was a Nintendo 3DS game. The contest included a Dress-Up Pikachu category and another category for contestants’ favorite Pokémon; selected entries would be made into cards and awarded as prizes. Famitsu documents the contest’s format, but not Fujishima’s individual win or the final number of copies printed. Famitsu’s contemporaneous report provides that background.
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Later reports say the winner received 100 copies
Later coverage identifies Y. Fujishima as the Dress-Up Pikachu winner and says the prize included 100 printed copies of the custom card. Creative Bloq describes the artwork as Pikachu in a red raincoat under an umbrella. These distribution details come from later reporting, not the original contest announcement. Creative Bloq’s report and Kotaku’s coverage recount the card’s story.
Scarcity and condition do not explain the price by themselves
The card’s unusual origin and limited reported distribution help explain collector interest. This auctioned copy also received PSA’s top numeric grade, PSA 10 GEM MINT. But neither rarity nor grade alone accounts for an $8.4 million result, especially when earlier reported sales were much lower.
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Population figures also differ by source. Fanatics Collect’s lot page displays a population field of 56; Kotaku reported that PSA listed 57 Gem Mint PSA 10 copies. Those figures should not be collapsed into one definitive count: the available reports do not reconcile the discrepancy, and the numbers are source-specific snapshots.
How does the sale compare with earlier prices?
Kotaku reported two PSA 10 sales in 2025 at $16,100 and $26,100, followed by a $156,250 result in June 2026 and $79,999.99 in August 2026. Those are reported individual sales, not a stable valuation series. The contrast with the September auction is stark:
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| Reported sale | Reported price | Context |
|---|---|---|
| 2025, first of two PSA 10 sales reported by Kotaku | $16,100 | Secondary reporting; venue and premium treatment not stated in the cited summary |
| 2025, second PSA 10 sale reported by Kotaku | $26,100 | Secondary reporting; venue and premium treatment not stated in the cited summary |
| June 2026 PSA 10 sale | $156,250 | Reported by Kotaku and contrasted with the later result by Polkastarter |
| August 2026 PSA 10 sale | $79,999.99 | Reported by Kotaku |
| September 28, 2026 Fanatics Collect sale | $8,400,000 including buyer’s premium; $7 million before premium | Fanatics lot record lists 64 bids |
Kotaku’s September 30, 2026 report gives the earlier sale comparisons and quotes reporter John Walker observing that there was “no meaningful difference between these slabs” and the one sold two days earlier. That is Walker’s observation, not an independent technical finding about every graded copy.
Polkastarter’s October 1, 2026 report likewise contrasts the June 2026 result with the $8.4 million sale and cautions: “One record sale is a data point, not a price guide.” That is a useful way to read the numbers: a single auction establishes what one buyer paid for one lot under particular circumstances, not what other owners can expect.
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What explains the extraordinary jump?
The available reporting does not establish why this copy reached $8.4 million. Polkastarter said on October 1 that the buyer and seller had not been announced and Fanatics had not commented. Kotaku reported that it contacted Fanatics for an explanation. Neither the bid count nor the card’s scarcity supplies an answer on its own, and the cited coverage does not independently explain the gap between earlier sales and this result.
That uncertainty is not evidence of fraud or manipulation. Without verified details about the parties, bidding circumstances, or another substantiated explanation, claims about what drove the price would be speculation. Treat the sale as an exceptional auction result rather than proof that Raincoat Pikachu—or Pokémon cards generally—has been repriced at that level.
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How does it compare with the Pikachu Illustrator record?
For a dated comparison, Guinness World Records reported in March 2026 that a Pikachu Illustrator PSA Gem Mint 10 sold for $16,492,000 through Goldin Auctions on February 16, 2026, describing it as the most expensive Pokémon trading card sold at auction at that time. Polkastarter’s October 1 comparison placed Raincoat Pikachu below that result. Records can change, and the figures refer to different cards and auction events; the headline totals should not be treated as directly interchangeable without checking how each sale reports its price. Guinness World Records’ dated record entry documents the Illustrator comparison.
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