The Pikachu Wearing a Poncho card featuring Black Rayquaza is a notable promotional item from the Pokémon XY series, which originally aired in Japan in 2013.

Collectors are particularly drawn to this card due to its unique art style and the popularity of both Pikachu and Rayquaza within the franchise, as they represent iconic elements of Pokémon lore.

With its PSA 10 grade ensuring an excellent condition—despite potential initial imperfections—this card's rarity is heightened by limited production runs typical of promotional items in Japan.

As a result, its current pricing reflects the strength of the domestic collector market, where condition and authenticity are paramount.