Friday, May 3, 2024

Michael Jordan’s ‘dynasty collection’ auctioned for record $8 million

Beyond the court, Michael Jordan revolutionised the athletic shoe industry.

• February 5, 2024
Jordan's auctioned sneakers
Jordan’s auctioned sneakers[Credit:CNBC]

A remarkable collection of sneakers worn by basketball legend Michael Jordan during the Chicago Bulls’ triumphant journey to six NBA championships has recently set a new benchmark for game-worn sneakers at auction, amassing an astonishing $8 million, according to Sotheby’s.

Dubbed the “Dynasty Collection,” the ensemble features six pairs of Air Jordan shoes, each worn during the climactic games of the 1991, 1992, 1993, 1996, 1997, and 1998 championship series. The sale, which occurred on Friday, marks a historic moment in sports memorabilia and highlights the enduring legacy of Michael Jordan.

“Sotheby’s dubbed it the ‘Dynasty Collection,'” said Brahm Wachter of Sotheby’s, who oversees modern collectibles for the auction house. He added, “Serving as both a reminder of Michael Jordan’s lasting impact on the world and a tangible expression of his recognised legendary status, its significance is further validated by this monumental result.”

The buyer’s identity remains undisclosed, while the seller is described only as “a private American collector” who acquired the coveted sneakers from a longstanding Bulls executive. The tradition of Jordan gifting a sneaker to the executive after each championship-winning game adds a personal touch to these iconic shoes.

Accompanying the auction lot are photographs capturing Jordan in action, proudly wearing a single shoe during the celebrations of the 1992, 1993, 1996, and 1998 championship victories. This visual documentation adds a layer of historical context, making these sneakers not just footwear but artefacts of sporting history.

Jordan’s impact on basketball transcends championships, with the NBA renaming its MVP trophy in his honour in 2022.

Beyond the court, he revolutionised the athletic shoe industry by collaborating with Nike to create the iconic Air Jordans in the mid-1980s, contributing significantly to sneaker culture.

This auction follows a trend of escalating prices for Michael Jordan memorabilia. Last April, the pair of sneakers he wore during the second game of the 1998 NBA Finals sold for a staggering $2.2 million through Sotheby’s, setting a record for sneaker sales. Additionally, the highest auction price for any Jordan memorabilia stands at $10.1 million, achieved for his jersey from the first game of that series in 2022.

The enthusiasm for Michael Jordan’s memorabilia extends beyond sneakers, as evidenced by the astronomical price of an unused ticket to his 1984 debut with the Bulls, which fetched $468,000 at Heritage Auctions in 2022 – over 55,000 times its face value. As the market continues to demonstrate immense interest in Jordan’s legacy, these artefacts serve not just as sports collectibles but as tangible pieces of cultural history.

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