A pair of Air Jordans worn by Michael Jordan became the most expensive sneakers ever sold, bringing in an astounding $2.2 billion at a Sotheby’s online auction.
Michael Jordan’s legendary career and his final Bulls season inspired the mini docu-series produced by ESPN and Netflix titled “The Last Dance.”
While the sale did set a record, the final price barely cleared the low-end estimation, indicating that the market has not necessarily recovered from the pandemic.
The global pandemic had a positive impact on the sports collectibles and memorabilia industry, as the lockdowns reinvigorated hobbyists while giving many others something to stick to.
Even though Air Jordans have been a major collector’s item, the sports memorabilia industry has diversified immensely over the last couple of years.
Zooming out: Auction houses have reported huge demands thanks to this booming demand, with a slew of records being created to be broken only in the span of a few months.
People stand in online queues to simply bid on or scavenge for such rare gems, especially since the sports trading card industry seeks to outperform NFTs, cryptocurrencies, and the S&P 500.