Rare Air Jordan sneakers sell for $325,000 at auction

A rare prototype of the first edition of the iconic Air Jordan basketball shoe line sold at auction Sunday for $325,085.

Nike designed the Air Jordan I based on the Chicago Bulls colorway, intentionally flouting NBA regulations that required shoes to be 51% white. 

The league responded by banning the sneakers, but Nike seized the marketing opportunity and paid the league fines. 

The shoes predate the iconic "Jumpman" and "Wings" logos and are marked "Air Jordan." The left sneaker is a size 13, and the right is a size 13.5—custom-ordered to Michael Jordan's unique specifications.

Nike gifted the prototype samples to a college basketball coach in Portland, Oregon, in late 1984. According to a release from Grey Flannel Auctions, they have been meticulously preserved for 40 years and have never been displayed.

Nike released the Air Jordan sneaker line in April 1985 with the goal of making $3 million in the first three years. The reported earnings were $126 million in their first year.  

The Air Jordan 1, designed by Peter Moore, retailed for $65. The Air Jordan 2, released the following year, sold in stores for $100. Today, some Jordans retail for $200, and some 20 versions are available on Nike's website.