Michael Jordan’s Championship Sneakers Sell for Record $8 Million at Auction

In a transaction that further cements NBA Hall of Famer Michael Jordan’s standing atop the world of sports memorabilia, Sotheby’s New York sold six Air Jordan sneakers earlier Friday for the whopping total of US$8 million.

Dubbed the Dynasty Collection, the set of six shoes were sold to an anonymous buyer who was in the room during the bidding, according to the auction house. Sotheby’s had publicised the sale with a far-reaching tour, displaying the sneakers around the world while estimating that the set would sell for between US$7 million and US$10 million.

“To have something from one of Jordan’s championship clinching games is a goal for every collector of sports artefacts. To have something from all six is unheard of,” says Brahm Wachter, Sotheby’s head of modern collectables. “We are thrilled with the result which is a testament to the greatest to ever play the game.”

The Dynasty Collection earned headlining status for the second edition of Sotheby’s “The One,” a cross-category sale that features an eclectic range of notable objects representing human achievement and excellence.

Michael Jordan of the Chicago Bulls shoots the winning jump shot with 5.2 seconds left during game six of the NBA Finals against the Utah Jazz in Salt Lake City in June, 1998. The Bulls won 87-86 for their sixth NBA championship.
AFP via Getty Images

As the hammer fell, the final price tag set a new global benchmark for game-worn sneakers while becoming the second-highest price achieved for any Jordan memorabilia, just behind Jordan’s 1998 NBA Finals Game 1 jersey from the famed “Last Dance” season, which achieved US$10.1 million at Sotheby’s in September 2022 and still holds the world record for any game-worn sports memorabilia.

The auctioneer also holds the record for any pair of sneakers, with Jordan’s 1998 NBA Finals Game 2 Air Jordan 13s having earned $2.2 million in April 2023.

Jordan, who turns 61 on Feb. 17, famously handed off one of his size-13 and 13.5 shoes—an Air Jordan VI (1991), Air Jordan VII (1992), Air Jordan VIII (1993), Air Jordan XI (1996), Air Jordan XII (1997), and Air Jordan XIV (1998)—after each championship-deciding victory to Bulls PR exec Tim Hallam.

The sneakers were later obtained from Hallam by a private American collector, who ultimately enlisted Sotheby’s for the sale. Initially announced nearly a year ago, the collection has captured the attention of sports fans and hobbyists alike.

“Today’s record-breaking price is a testament to the GOAT. The Dynasty Collection undeniably ranks among the most significant compilations of sports memorabilia in history,” Wachter said in a statement announcing the result.

“Serving as both a reminder of Michael Jordan’s lasting impact on the world and a tangible expression of his recognized legendary status, its significance is further validated by this monumental result.

One other piece of Jordan memorabilia was included in the auction: the signed official scorekeeper’s sheet from the highest-scoring game of his career—a 69-point effort against the Cleveland Cavaliers on March 28, 1990. It sold for US$50,800.

Australian shares fell on Thursday as Wall Street weakness, rising oil and persistent rate concerns weighed on most of the market.

The S&P/ASX 200 declined 0.72 per cent to 8,702. The All Ordinaries lost 0.66 per cent to finish at 8,897. Mining stocks were hit particularly hard, while real estate also dragged on the index.

Energy was the notable exception, gaining more than one per cent as Brent crude traded above US$103 a barrel. Oil had moved higher amid uncertainty surrounding potential US diesel-export restrictions and broader geopolitical supply risks. The move supported energy producers but renewed concern about inflation inputs across transport and the wider economy.

Gold shares were weak even as spot bullion remained historically elevated. The All Ordinaries Gold index fell about 2.25 per cent, showing that equity performance can diverge from the commodity because of valuation, currency, operating and company-specific factors.

Zip was a prominent loser, falling 11.38 per cent after the company reported short sales after the previous close. Nine Entertainment also weakened after UBS analysts warned of near-term revenue challenges associated with its advertising-supported subscription tier.

Premier Investments led larger winners despite caution about the retail environment. Breville, in which Premier owns a significant stake, also appeared among leading movers. In the broader ASX 300 screen, Myer gained 11.43 per cent and MAAS Group rose 7.93 per cent, while Lotus Resources fell 10.53 per cent. These percentage moves should be checked against company announcements and trading liquidity before attributing causes.

The Australian dollar was broadly flat at US70.38 cents. Spot gold was around US$4,280 an ounce, Brent crude approximately US$103.08 a barrel and iron ore near US$96.90 a tonne late in the session.

The rate outlook remains the central domestic catalyst. Labour-market weakness has not eliminated the possibility of an RBA increase next week, leaving banks, listed property and other rate-sensitive sectors exposed to changing expectations.

Market dashboard

S&P/ASX 200: 8,702, down 0.72 per cent.

All Ordinaries: 8,897, down 0.66 per cent.

Best sector: Energy, up more than one per cent.

Weakest areas: Real estate and materials were the major drags; confirm final sector percentages before publication.

Material winner: Premier Investments led the large-company gainers. Confirm its final closing move from the ASX before publication.

Material loser: Zip, down 11.38 per cent.

ASX 300 percentage leader: Myer, up 11.43 per cent.

ASX 300 percentage laggard: Zip, down 11.38 per cent.

AUD/USD: Approximately US$0.7038, broadly flat.