The most expensive Basketball card isn't really based on "book" value but actually sales. George Mikan does indeed hold the title for Top 10 Most Valuable basketball card, but the actual sales price was over $200,000 ! This link will take you to the actual realized prices of the most expensive cards, not some arbitrary number invented by a price guide editor.
Added: Actually, the most expensive basketball card is probably is the Michael Jordan rookie. The most expensive michael jordan card would have to be in the stars company because of how short its been out. There isn't many of these because the stars company has been out for about only 1-2 years. Even its reprint is pretty valuble ranging about 3-4,000 dollars. The next would be michael jordan rookie from the fleer series.
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Micheal Jordan memorbellia rookie autographed card. I recently purchased one for 50,000 grand. Sold it for 60,000.
To date the 1909 T-206 Honus Wagner in a PSA 8 Nm/Mt is the highest priced trading card in the market. The last time it sold was for over 2.3 Million Dollars.