Sotheby's to sell valuable Michael Jordan sneaker collection
Sotheby's is slated to sell one of the most valuable collection of individual sneakers ever brought to market.
The so-called "The Dynasty Collection" consists of six single Air Jordan sneakers, each of which was worn by NBA star Michael Jordan in the championship games that clinched titles for the Chicago Bulls.
Jordan, who won six NBA championships, two Olympic Gold Medals and numerous other accolades, is widely considered to be one of the greatest athletes of all time.
The sneaker set is the most "valuable and significant collection" of Air Jordans ever to be brought to market, Sotheby's said in a press release announcing the sale. The footwear is on view in Sotheby's Dubai from 27 Feb. 27 - Mar. 3.
"The Dynasty Collection is the sole-defining 'holy grail' of sneaker collecting," Brahm Wachter, Sotheby's head of Streetwear & Modern Collectables, said in a statement to CBS MoneyWatch. "They check all of the boxes that a collector wants: championship history, Hall of Fame association, and style."
The collection has everything that could make a set of sneakers valuable: "Jordan's legacy, domination, and stardom," Wachter added.
The set of sneakers includes six different models of Air Jordans:
- Air Jordan VI (1991)
- Air Jordan VII (1992)
- Air Jordan VIII (1993)
- Air Jordan XI (1996)
- Air Jordan XII (1997)
- Air Jordan XIV (1998)
The athlete partnered with Nike to produce the "Jordan Brand," which became a lucrative property for the sportswear giant.
Jordan wore his first pair of Air Jordans in 1984, during his rookie season with the Chicago Bulls. The Air Jordan I became available to the general public the following year.
It was among the first major collaborations between an athlete and sneaker company and proved how valuable a star player's imprint on a sneaker could be, spawning subsequent partnerships between athletes and sportswear makers. The deal helped Jordan become the first NBA player to attain a net worth of $1 billion, according to the Sotheby's release.
The sneakers for sale are autographed by Jordan. One shoe, from 1993, bears his signature along with the inscription: "'OUR' LAST F---ing Game!"
Sotheby's did not disclose the price of the collection, but experts speculate it could be worth many millions.
Memorabilia appraiser and consultant Leila Dunbar told the Wall Street Journal the shoes "are among the most important basketball shoes a collector could own," given their association with Jordan and the Bulls' championships.
While the seller's identity has not been disclosed, the collection's owner is expected to earn a hefty profit.
Jordan Geller, a onetime Guinness World record holder for the largest sneaker collection, told the Journal he thinks the set of sneakers could sell for between $20 and $100 million. "It's as rare as rare gets," he told the outlet.