Rare Magic & Larry Bird Card Hits Auction Block, Expected To Fetch $500K

Larry Bird, Magic Johnson and Julius "Dr. J" Erving are 3 of the greatest hoopers ever ... and now a super-rare basketball card produced 40 years ago is on the auction block ... and could rake in over $500k!!

The 1980-1981 Topps Scoring Leader card features the Celtics, 76ers, and Lakers stars in-game action ... and is currently on the block at SCP Auctions.

The card itself is incredibly valuable ... but it's the pristine condition that makes this particular version worth the price of a nice house.

The card graders at PSA scored the cardboard a perfect 10 -- mint condition -- making it 1 of only 24 copies known to exist, according to SCP.

The auction kicked off a few weeks ago ... with a starting bid price of $150,000. There have already been 7 bids placed ... with the high bid coming in at $354k!!

The auction doesn't end until Friday ... and you can bet the price will jump significantly before the clock runs out.

Too rich for your blood?? SCP also has a Michael Jordan game-worn Chicago Bulls jersey from his rookie season in 1984.

That's expected to sell for $150k ... which feels like a bargain.