Prices are soaring. Sneakers, certainly of collection, match programs and other objects related to Michael Jordan are snapped up. Some are now trading at several hundred thousand dollars. “Timing is essential. And the right time is now! ”Said Jordan Geller. Sunday, the collector will be richer by at least 240,000 dollars, thanks to the sale at Sotheby's of a pair of Air Jordan 1, the first model created specially by Nike for Michael Jordan, which was then debuting in the NBA, in 1984 These two shoes, worn in match by the Chicago Bulls player, could even set a new record for sneakers, beaten last year by the Moon Shoe of Nike, sold 437,500 dollars.
The different Air Jordan were already very popular for 30 years, as well as jerseys and trading cards. For many specialists, the icon of modern sport has even largely contributed to creating the market for collector sneakers, where only non-sporting personalities, like Kanye West or Travis Scott, can compete with him today. But the ten-part ESPN documentary on the Jordan saga, "The Last Dance", which benefited from the worldwide audience of Netflix, a broadcaster outside the United States, "changed the game," according to Chris Ivy, manager. sports items at the Heritage Auctions auction house.
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On the StockX shoe resale platform, the Air Jordan 1 Chicago model now sells for up to $ 1,500, up from $ 900 in March (the first episode of "The Last Dance" was released on April 19). "This is largely due to the documentary, because it's a shoe that has been on the market for years," said Jesse Einhorn, economist at StockX. A collector's card from publisher Fleer dated 1986 sold for $ 96,000 in early May at Heritage, when it was still "only" worth $ 20,000 to 30,000 at the start of the year.
Sales of Bulls branded products also up 400% in May
"Many people who collected cards ( equivalent to Panini stickers ) children have returned their attic to find their old boxes," laughs Geoff Wilson, founder of the platform Sports Card Investor. "I've never seen anything like it," says Chris Ivy. We are talking about a player who has retired for a long time! ” Seventeen years to be precise. And the craze extends beyond what directly concerns Jordan and the world of collectors. Sales of Bulls branded articles were up 400% in May (compared to last year) on the site selling sports derivatives Fanatics.
"The Last Dance" has re-located Michael Jordan in the history of sport for a generation that feeds on immediacy and has not known the No. 23 player. "It is certain that the documentary has increased interest in Jordan, but I do not think all this will fall," says Chris Ivy about collectibles. "Today, old (American) collectors want baseball to buy (cards from) their youth heroes," explains Geoff Wilson. But the heroes of the young collectors are Michael Jordan, LeBron James and Kobe Bryant. ”
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The market for collectible sneakers is coming to fruition, supported by a new generation of enthusiasts, as shown by the emergence of exchange platforms and the prices made during auctions over the past three years. Unlike baseball, a sport largely confined to the United States and Japan, basketball has a global reach, and collectors are manifesting themselves all over the planet, underlines Chris Ivy.
The million dollar mark will be crossed
"Collecting sneakers and reselling them was a confidential activity, which concerned a few enthusiasts," explains Jordan Geller. But it has become mainstream now. ” The movement was not lost on the equipment manufacturers, who adapted their marketing and promotion strategies accordingly. "Brands are coming out more and more limited editions, in small quantities and demand is soaring," says Geller.
"For ten years, the importance of sneakers has exploded and collectors so far interested in more traditional categories of objects have been following this closely," said Brahm Wachter, head of online business development for Sotheby's. Like the pair sold at Sotheby's, period objects or those that belonged to Jordan are in a completely different price category than the limited series of "sneakers" that come out regularly. Will we ever cross the million dollar mark? "I think so," says Chris Ivy, who is currently trying to arrange the sale of an item that he believes could reach this price.
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