Michael Jordan's 'Dream Team' Air Jordan sneakers selling at auction
Michael Jordan memorabilia is once again drawing a bidding war. This time, the hot auction is over a pair of Jordan-worn and signed 1992 Olympic ‘Dream Team’ Air Jordan VII sneakers.
The current highest bid for the coveted shoes is $75,000. However, the estimated value of the sneakers is anywhere from $100,000 to $300,000. It isn’t the first time Jordan collectibles have sold for a small fortune.
In May, Utah Jazz legend Karl Malone sold a jersey worn by Michael Jordan in the 1992 Olympics for $3.03 million. Jordan inscribed the No. 9 jersey with a message to Malone, reading “To Karl, good luck.
Earlier this month, the Iowa state treasurer froze an auction after discovering a Jordan card in a listed lot could be worth thousands of dollars. The Dream Team sneakers are just the latest product in a long list of Jordan-related treasures.
Despite retiring for the final time in 2003, Jordan’s name remains more relevant than ever. The Jordan- focused documentary, “The Last Dance,” released in 2020, averaging 5.65 million viewers across all 10 episodes — making it the most-watched ESPN documentary of all time.
More recently, Jordan finalized a deal to sell the Charlotte Hornets to a group led by Hornets minority owner Gabe Plotkin and Atlanta Hawks minority owner Rick Schnall. The franchise is being sold under an approximately $3 billion valuation.
The NBA legend originally bought a minority stake in the franchise in 2006 before buying the majority stake in 2010. Jordan paid $275 million for his stake in 2010. Jordan certainly didn’t find the same success in the NBA as an owner.
The Hornets have consistently been one of the worst-performing teams since the organization joined the NBA in the 2004-2005 season. Charlotte has made the playoffs just three times in 19 seasons. The best the team ever performed while under Jordan’s leadership was during the 2014-15 season, when the team finished sixth in the Eastern Conference.
Despite Jordan’s non-stop popularity, his auctioned sneakers are yet to draw a barrage of bids. The Jordans only have one bid currently, and the auction is set to end tomorrow evening.