Jordan memorabilia soars in value amid 'Last Dance' nostalgia
The First Art Newspaper on the Net    Established in 1996 Friday, November 15, 2024


Jordan memorabilia soars in value amid 'Last Dance' nostalgia
In this file photo taken on June 4, 1997 Chicago Bulls player Michael Jordan sticks out his tongue as he goes past Jeff Hornacek of the Utah Jazz during game two of the NBA Finals at the United Center in Chicago, IL. The immense global success of the documentary "The Last Dance" amid the coronavirus lockdown has boosted sales of collectibles related to NBA icon Michael Jordan, some of which are trading in the hundreds of thousands of dollars. VINCENT LAFORET / AFP.



NEW YORK (AFP).- The immense global success of the documentary "The Last Dance" amid the coronavirus lockdown has boosted sales of collectibles related to NBA icon Michael Jordan, some of which are trading in the hundreds of thousands of dollars.

"Timing is everything," says Jordan Geller, a collector who on Sunday will be richer by at least $240,000 thanks to the sale at Sotheby's of a pair of Air Jordan 1 sneakers -- the first model created especially by Nike for Michael Jordan, who made his NBA debut in 1984.

The game-worn pair could set an auction record for sneakers set last year by Nike's Moon Shoe, a pair of which sold for $437,500.

The various Air Jordans have been popular with collectors for 30 years, along with jerseys and trading cards featuring Jordan -- who won six NBA titles with the Chicago Bulls and is widely considered the greatest player in league history.

Many specialists consider Jordan a key figure in creating the market for collectible sneakers, with only non-sports personalities such as Kanye West or Travis Scott able to compete with him today.

But ESPN's 10-part documentary "The Last Dance" which weaves details of Jordan's entire career through the narrative of the Bulls' pursuit of a sixth NBA title, has ramped up interest in all things Jordan.

"I think this is a game-changer," Chris Ivy, director of sports collectibles at Heritage Auctions, said of the documentary series that was carried globally by Netflix.

Ivy predicted the interest fueled by "The Last Dance" will continue.

'Iconic, mythical'
On the StockX shoe resale platform, the Air Jordan 1 Chicago model now sells for up to $1,500, compared to $900 in March.

The first episode of "The Last Dance" aired on April 19.

"That could be largely attributable to the documentary because that's a sneaker that's been on the market for years," says StockX economist Jesse Einhorn.

Likewise, a 1986 Fleer collector's card sold for $96,000 in early May at Heritage, an item that was worth $20,000 to $30,000 at the beginning of the year.

"A lot of people who had a sports cards collections as a kid have been frantically going through their attics to find those boxes and those binders," laughs Geoff Wilson, founder of the Sports Card Investor platform.

"I haven't seen anything like this, where it's well past his career," Ivy said, noting Jordan retired in 2003.

The excitement extends beyond Jordan himself.

Sales of Bulls-branded items are up 400% in May compared to last year on the sports merchandise site Fanatics.

"For a lot of people my age between 40 and 50 years old, Michael Jordan was the Babe Ruth of our generation," Ivy said. "People in that age range are starting to get in a point in their lives where they're starting to collect again."

Even younger fans, weaned on the exploits of the late Kobe Bryant and LeBron James, are feeling the allure of Jordan.

"The majority of our customers are millennials and Gen Z, many of whom were not necessarily alive when Jordan played," Einhorn said. "It's a testament to Jordan's staying power as an iconic, almost like mythical, cultural figure."

And the market for basketball shoes is maturing, with support from a new generation of enthusiasts as evidenced by the emergence of trading platforms and the prices realized at auctions over the last three years.

"Sneaker collecting and reselling used to be underground activities that were enjoyed by a few sneaker heads," Geller said. "It’s much more mainstream now."

The change has not escaped the notice of manufacturers, who have adapted their marketing and promotional strategies accordingly.

"Sneaker brands are catering to sneaker collectors by releasing more and more limited edition sneakers, so with smaller quantities demand goes through the roof."

But in Geller's opinion, nothing can compare to the original Air Jordans, especially those that can be linked to the great man himself.

"I think the Game Worn Air Jordan 1s are the most iconic sneakers of all time," Geller said. "The fact that these shoes were Game-Worn by Michael Jordan takes them to a whole other level."

Will we ever crack the $1 million mark?

"I think so," said Ivy. "I'm working towards a consignment in the future that I think has the potential to get to a million dollars."

© Agence France-Presse










Today's News

May 18, 2020

Lawrence Steigrad Fine Arts begins fourth decade dealing Old Master paintings

Ed Ruscha's pivotal canvas Annie, 1962 to highlight One: A Global Sale of the 20th Century

First virtual New York art fair brings low energy but solid prices

The museum is closed, but its tomato man soldiers on

Christie's to offer Roy Lichtenstein's 'Nude with Joyous Painting'

Sotheby's sets new Auction record with $560,000 Pair of Michael Jordan's game-worn Air Jordan 1s from 1985

Paintings that demolish the myths of what a home should be

Daniel Templon opens an exhibition of works by German painter Norbert Bisky

Digital offerings from The Museum of Modern Art

Tate appoints Neil McConnon as Director of International Partnerships

Mythical monster goes viral as Japan prays for end of pandemic

Kyle Meyer pairs digital photography with traditional Swazi crafts to portray the oppressed LGBT community in eSwatini

US comedian Fred Willard passes away aged 86

Jordan memorabilia soars in value amid 'Last Dance' nostalgia

Albania protesters clash with police over theatre demolition

At the drive-in: Thrills, chills, popcorn and hand sanitizer

The Museum of Craft and Design announces Let's Face It: A mask-making design competition

The Ravestijn Gallery opens an exhibition of works by Mariken Wessels

Kam Wa Magus Yuen wins the Hong Kong Human Rights Arts Prize 2020

Exhibition marking the culmination of year long project for Sir Quentin Blake moves online

Australasia's premier art fair Sydney Contemporary to return in 2021

Denny Dimin Gallery opens an online exhibition of works by Scott Anderson

Lynn Shelton, director of intimate comic-dramas, dies at 54

A jazz pianist flips Bach upside down

With movie theaters closed, marquees go viral

How to Make Sure Your Car is Running at Its Best




Museums, Exhibits, Artists, Milestones, Digital Art, Architecture, Photography,
Photographers, Special Photos, Special Reports, Featured Stories, Auctions, Art Fairs,
Anecdotes, Art Quiz, Education, Mythology, 3D Images, Last Week, .

 



Founder:
Ignacio Villarreal
(1941 - 2019)
Editor & Publisher: Jose Villarreal
Art Director: Juan José Sepúlveda Ramírez
Writer: Ofelia Zurbia Betancourt

Attorneys
Truck Accident Attorneys
Accident Attorneys
Holistic Dentist
Abogado de accidentes
สล็อต
สล็อตเว็บตรง

Royalville Communications, Inc
produces:

ignaciovillarreal.org juncodelavega.com facundocabral-elfinal.org
Founder's Site. Hommage
to a Mexican poet.
Hommage
       

The First Art Newspaper on the Net. The Best Versions Of Ave Maria Song Junco de la Vega Site Ignacio Villarreal Site Parroquia Natividad del Señor
Tell a Friend
Dear User, please complete the form below in order to recommend the Artdaily newsletter to someone you know.
Please complete all fields marked *.
Sending Mail
Sending Successful