An auction house announced on Monday that a game-worn, autographed Michael Jordan road jersey from the 1998 NBA Finals was acquired for $14 million in a private transaction, setting a record as the most expensive piece of basketball memorabilia ever sold.
Pennsylvania-based Hunt Auctions brokered the private sale and identified the purchaser as Miami real estate investor Ron Firman.
Jordan wore the red jersey on June 5, 1998, during Game 2 of the championship series, leading the Chicago Bulls to a victory against the Utah Jazz that levelled the series at one game each.
The Bulls went on to capture the series in six games, securing the sixth and final championship of Jordan’s Hall of Fame career.
The story of that 1997-98 campaign was later chronicled in the 10-part documentary series "Last Dance," released in 2020.
"While Michael Jordan’s importance within the sports memorabilia marketplace has long been established, it has now escalated to an elite asset class more typically reserved for iconic works of art," said David Hunt, president of Hunt Auctions.
"We are very pleased to have been able to facilitate this historic sale, which serves as another benchmark for our industry."
The $14 million transaction marks the second-highest sum ever recorded for a game-worn sports jersey.
It trails only the $24.12 million paid in 2024 for the New York Yankees jersey worn by Babe Ruth when he hit his famous "called shot" home run against the Chicago Cubs at Wrigley Field during Game 3 of the 1932 World Series.
This deal represents at least the third occasion that a Jordan jersey from the 1998 finals has commanded $10 million or more.
A jersey worn during Game 1 fetched approximately $10.1 million at auction in 2022, while his Game 3 jersey was sold at auction last month for around $12.3 million.
"Michael Jordan was an incredibly talented player who is admired around the world." Firman said in a news release distributed by the auction house. "I’m very excited about the purchase."
According to Hunt, the jersey purchased by Firman was first bought directly from the Bulls by a private collector in 2003. It "has remained within a succinct chain of custody having only changed hands once from the original purchaser."
Items associated with Jordan’s final championship run with the Bulls have consistently drawn immense interest among collectors. In 2023, a pair of Air Jordan sneakers worn by Jordan during Game 2 against the Jazz was auctioned by Sotheby's for $2.2 million, which was described at the time as "a new world record for the most valuable sneakers ever sold."
AP