We're told the piece -- which is a sticker/card from the 1986 Fleer set -- is currently sitting at $95,000 in the bidding ... and is expected to fetch several thousands more by the time the auction concludes later this week.

Officials at PWCC Marketplace -- the org. hosting the auction -- tell us the scarcity of this particular KAJ sticker is what makes it a must-have item.

The experts say out of the 2,484 Abdul-Jabbar fleer stickers that have been graded by PSA, only 14 of them received a perfect 10 -- and this sticker is one of them.

"It is extremely hard to find this sticker in this grade," PWCC exec. Jesse Craig said. "A gem mint version of this asset surfaces for sale so rarely at auction that collectors are moving very aggressively to secure it."

The previous record for the sticker -- which is also notable because it's from the same set as the famed Michael Jordan rookie card -- came back in May 2016, when a piece sold for $23,766.

KAJ was a dominant force at the collegiate level -- he won three straight national titles under John Wooden -- and that brilliance translated to the NBA, where his success continued.

Kareem made 19 All-Star teams, won 6 NBA titles to go along with 6 MVP awards ... and is regarded as one of, if not, the greatest big man in NBA history.

Kareem was also a key part of the Showtime Lakers with Magic Johnson, that won 5 championships in the '80s ... and Craig says that's another reason the sticker's value is exploding.

Craig tells us ... HBO's 'Winning Time' documentary, which highlights the players from the Showtime Lakers, has added to the intrigue of Kareem and this sticker.

"While it has been controversial," Craig said, "the show definitely reminded many of how impressive the 'Showtime' Lakers were."

"Kareem was a critical part of that era and that point is made clear in the dramatized retelling."