Sports collectibles are popular in the world of investing.
A pair of Jordan 11 “Concords” worn by basketball legend Michael Jordan in 1996 recently sold for $92,135 on Rally, a marketplace for investors to buy and sell equity shares in collectible assets.
According to Insider, the basketball legend wore the sneakers on the court in 1996, and those who invested early in the autographed collectible saw a nice profit after the shoes sold for almost six figures last week, nearly doubling the early shareholders’ money.
“Our mission is turning aspirations into equity,” said Co-Founder Rob Petrozzo. “We wanted to give everybody equal access to this new world of investing.”
Reportedly, the first offer for the Jordan 11 “Concords” came in at $65,000 before another bidder offered $70,000 before the conclusion of that 48-hour process. More bids came in until the one final bid won the asset with an offer of $92,135.
Although the amount is a record holder for Concords, other Jordan memorabilia has sold for a lot more.
As previously reported by BLACK ENTERPRISE, Jordan’s “Last Dance” Chicago Bulls jersey became an eight-figure sports collectible after it sold in September 2022 for over $10 million with auction house Sotheby’s, making it the “most ever paid for an item of sports memorabilia.”
“The season itself is his ‘magnum opus’ as an athlete, and a testament to him as a champion and competitor,” Brahm Wachter, Sotheby’s head of streetwear and modern collectibles, said in a statement, according to ABC News. “Finals jerseys from Jordan are remarkably scant and the [1998] Finals are arguably the most coveted of them all.”
“In the weeks since we announced the auction
, there’s been palpable excitement from not only sports fans, but collectors alike who are eager to own a rarified piece of history,” Wachter said. “[The] record-breaking result, with an astounding 20 bids, solidifies Michael Jordan as the undisputed GOAT, proving his name and incomparable legacy is just as relevant as it was nearly 25 years ago.”