Sotheby's auction house recently hosted an auction of a pair of sneakers worn by basketball legend Michael Jordan during Game 2 of the 1998 NBA Finals. The "Bred" Air Jordan 13s were sold for a record-breaking price of $2.2 million, making them the most expensive sneakers ever sold.
Jordan memorabilia outperforms all expectations
Brahm Wachter, Sotheby's Head of Streetwear and Modern Collectables, stated that the demand for Michael Jordan sports memorabilia continues to outperform and transcend all expectations. Last year, Jordan's 1998 NBA jersey was sold for $10.1 million, and in 2021, a pair of Nike Air Ships worn by Jordan was sold for $1.47 million.
Jordan's sneaker legacy lives on
Despite his retirement, Jordan continues to earn millions in royalties each year from the sales of his signature Air Jordan sneakers. His sneakers' popularity and high demand are fueled by nostalgia for a bygone era, attracting buyers from a wide range of professions, including real estate, finance, and private equity.
The allure of "Bred" Air Jordan 13s
The "Bred" sneakers are named after their black and red colorway, a style that Jordan frequently wore throughout his illustrious basketball career. The sneakers were autographed, and the size 13 shoes were sold by an undisclosed seller, while the identity of the buyer was kept confidential.
The bottom line
Overall, Jordan's popularity as a basketball icon continues to captivate enthusiasts and collectors alike. The high demand for his memorabilia shows no signs of slowing down anytime soon, with Sotheby's remaining at the forefront of the emerging market.
