These Air Jordan 1s Worn By Michael Jordan Might Be the Most Expensive Shoes Ever
In 2012, Jordan Geller was bidding in an auction for arguably one of the most important shoes in sneaker history. On offer was a pair of Air Jordan 1s worn and signed by Michael Jordan. Ultimately Geller won the lot posted to eBay. Now, eight years later, the sneakers are coming up for auction again—this time from the glitzy auction house Sotheby’s, better known for selling multi-million-dollar Monets and Cartier bracelets. (And, more recently, Supreme skate decks.) Now, sneaker collecting and selling has become a massive business with private investors spending millions to goose startups involved with trading these pieces and some people even make their living by selling the hottest pieces. Prices are auction-house-worthy now, too: the estimate for the Jordans going up for sale today is $100,000 to $150,000.
After making them the crown jewel of his shoe museum named ShoeZeum, where he says people would come and just sit in front of the display, and keeping them in a lockbox he’d visit on occasion, Geller decided it was time to sell the shoes to a new doting owner. Plus, there has never been a better time to be in the business of Jordan. This auction was put together quickly over the past two weeks after Geller noticed that Jordan-everything was going up in price because of The Last Dance documentary. “Timing is everything and right now is unquestionably the right time to put them on the market,” he says. “There's more interest and excitement in Michael Jordan than ever before. I think that it will have a big impact on the sale.” (The global pandemic with a depression right on its tail curiously hasn’t ravaged auction houses, which are still selling watches, design pieces, and art for record prices.)
But the estimate isn’t just thanks to that documentary. Sneakers are blowing up at auction by carving out an identity similar to watches: they’re both mass-produced items that see value bumps from scarcity and provenance. The most expensive sneaker ever sold at auction is an old beaten-up pair of original handmade Nikes known as the “Moon Shoes,” one of the first ever made by the brand. They sold for $437,500 at Sotheby’s last year, not in spite of their worn-down appearance but because of it. Think of it this way: they’re not wrecked, they have patina. These Jordans follow a similar blueprint: these aren’t just vintage versions of the most iconic shoe on the planet—they are the most iconic sneakers on the planet previously owned by Michael Jordan. Every scuff mark symbolizes some desperately fought battle with Larry Bird and Kevin McHale. The specific details help, too—the mid-top sneaker design was exclusive to Jordan and no other AJ1 came with red laces. All these marks serve to heighten the value of the shoe.
The parallels to the watch world come easily. At one point, the most expensive watch in auction history is Rolex Daytona with a design so closely associated with Paul Newman that it was known by the actor’s name. The specific model up for auction was owned by Newman himself—accordingly, it was known as Paul Newman’s Paul Newman. Think of these shoes as Jordan’s Jordans. And like watches, the sneaker auction market is growing rapidly. In 2018, Phillips auction house put together an entire sale around arty sneakers plastered with designs from painters like Kehinde Wiley. Around that same time, the Smithsonian gave a pair of LeBron James “Equality” sneakers a spot in its museum. Prices have gone up accordingly, too: in 2017, a pair of Converse Fastbreaks Michael Jordan wore in college sold for $190,373 and followed by the $437,500 Nikes last year.
But, you might protest, Jordan wore a lot of Jordans. What makes these so notable? Geller has an answer. Later in his career, Jordan would wear a pair of shoes only once, meaning they never picked up the same story-telling creases and marks (and by then he wasn’t wearing the beloved AJ1s, either). The shoes released to the public were low- and high-tops—but these were mids. Close watchers of The Last Dance will recall the several scenes of Jordan hand-lacing his sneakers, something he’s said he loved doing before every game. The shoe is valuable for exactly those sorts of details only a true obsessive would consider: even the laces seem honeyed with value and emotion.
And while the estimate sits at $100,000 to $150,000, it’s worth remembering that Nike’s original sneakers arrived with a similar valuation—$110,000 to $160,000—before sprinting past it. Given the model, the former owner, and the lovingly made marks of wear, Geller says he could see this shoe breaking the record again. “There's a definite possibility that they'll beat the Moon Shoes,” Geller says. If we’ve learned anything watching Jordan’s career, it’s to never count out his ability to end up on top.
Originally Appeared on GQ
