Mar 31, 2023
Sotheby’s Air Jordan Sneakers to Land in HK Seeking Record Sale
(Bloomberg) -- Auction house Sotheby’s is selling a set of six individual Air Jordan sneakers, with appraisers forecasting that the collection will break records.
‘The Dynasty Collection’ consists of six pairs of sneakers worn by Michael Jordan during his six NBA championships. The first Air Jordan model was produced in late 1984 for the basketball athlete during his rookie season with the Chicago Bulls.
The sneakers on private sale will be exhibited in Hong Kong from April 1 to April 5, after a show in Dubai. It will also be shown in Singapore. The current record-holder for the highest price is a Nike Air Yeezy 1 Prototype model that sold for $1.8 million in 2021.
“The price for this collection will undoubtedly set records,” said Simeon Lipman, an appraiser and auction curator. “While sports memorabilia has been offered at major auction houses for more than thirty years, it’s only recently that it has received the type of white-glove treatment reserved for fine works of art.”
The collection has garnered interest globally, said Sotheby’s head of streetwear and modern collectibles Brahm Wachter. Results of private sales are typically undisclosed, unless both the seller and buyer give their permission.
The market for collectibles and game-worn items have grown rapidly, with an influx of millennial and Gen-z participants, said Wachter. About 62% of bidders at Sotheby’s for such items are under 40 years old, he added. Rival auction house Christie’s started a sneakers, streetwear and collectibles department in September to focus on this emerging sector.
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