A Pair of Jordan Basketball Shoes Sold for 2.9 Billion Won... Sets 'Highest Price Record'

Nike 'Air Jordan XIII' Model Worn in 1998 NBA Finals

A pair of sneakers worn by basketball legend Michael Jordan during an NBA Finals game has been sold for $2.2 million (approximately 2.9 billion KRW).

The Wall Street Journal (WSJ) reported on the 11th (local time) that a pair of Nike Air Jordan XIII sneakers worn by Jordan in the 1998 NBA Finals set a new record for the highest price for sneakers at a Sotheby's auction that day.

Jordan basketball shoes that set a new record as the highest price by being sold for 2.2 million dollars
[Image source: Provided by SOTHEBY'S]

The net winning bid, excluding fees, was $1.8 million (approximately 2.38 billion KRW).

Sotheby's had anticipated that the winning bid could reach up to $4 million (approximately 5.29 billion KRW) before the auction.

Although it fell short of expectations, the final price including fees surpassed the previous record of $1.8 million (approximately 2.38 billion KRW) set in 2021 by the prototype of the 'Nike Air Yeezy 1' from the fashion brand Yeezy, founded by hip-hop star Ye (formerly known as Kanye West).

The record-breaking basketball shoes were worn by Jordan in the second half of Game 2 of the 1998 NBA Finals, after which he signed them and gifted them to a ball boy.

Items related to Jordan are highly popular at auctions.

In a 2021 Sotheby's auction, a pair of Nike basketball shoes worn by Jordan during his NBA debut in 1984 sold for $1.472 million (approximately 1.94 billion KRW).

Additionally, at last year's Sotheby's auction, the jersey worn by Jordan in Game 1 of the 1998 NBA Finals sold for $10.1 million (approximately 13.3 billion KRW), the highest price ever paid for a game-worn collectible in sports history.

'Nike Air Jordan 3 Seoul' was traded for over 1 million KRW in South Korea. [Image source=Naver capture]

Meanwhile, Nike's Air Jordan series is considered the origin of the 'sneakerhead' culture, which refers to passionate sneaker collectors. Due to the collectible value of limited-edition sneakers, a resale boom has recently emerged, drawing attention as a means of making money.