IF there’s any doubt that The Last Dance has turned up the value of all things Jordan, let today’s announcement by Sotheby’s put that to rest.
Today, the famed New York fine art auction house said it's brought the gavel down on the original, signed, game-worn Air Jordan 1s it put up for online auction last May 10.
The winning bid? A whopping $560,000, or around P28.5 million.
Sotheby's had originally estimated that the shoe would sell for a high of $150,000.
This broke the previous bid record for a sneaker auction (which was also set by Sotheby’s): a $437,500 bid for a Nike 1972 Nike Waffle Racing Flat ‘Moon Shoe’.
According to a statement released by the auction house, bidding became heated in the last 20 minutes of the auction. Prices jacked up by $300,000 in that final stretch.
Bidders came from all over the world, said Sotheby’s. One was as young as 19 years old. Seventy percent of the bidders were new to Sotheby’s.
“We saw tremendous bidding up until the moment the sale closed, with the value more than doubling in the final hour alone,” said Brahm Wachter, Sotheby’s Director of eCommerce Development.
He added: “That coupled with strong international bidding from six countries on four continents shows not only the incredible appeal of Michael Jordan as one of the most recognizable and legendary athletes of all time, but also that sneaker collecting is truly a global and growing market.”