Michael Jordan’s 1998 ‘Last Dance’ Nike shoes could sell for $4 million

After basketball superstar Michael Jordan sank the final free throw of Game 2 of the 1998 NBA Finals, he removed his redand-black Air Jordan 13s in the locker room, signed each one and handed them to a ball boy.

Now, those shoes — which Jordan is said to have worn in the second half of the game — are going up for auction with Sotheby’s, which expects them to fetch as much as $4 million.

That price would make the Jordan sneakers the most expensive pair of shoes ever sold on the open market — more than then $1.4 million paid in October 2021 for a pair of Air Ship Jordans, and more than the estimated $2 million paid for the pair of Air Jordans made of 24-karat gold.

“Overall, it’s not surprising,” said Jared Goldstein an attorney and co-author of “Sneaker Law,” which details the intricacies of today’s sneaker industry.

Sneakers in recent years have become a special asset class, Goldstein said, much like fine art and other sports memorabilia. “Many people look at sneakers as investments,” he said.

Black-and-red “Bred” Air Jordan 13s are already coveted sneakers, Goldstein said. But the fact that Jordan wore this pair during his last championship run?

“There’s no doubt, with all those elements in mind, that’s going to be the most expensive sneaker ever sold,” Goldstein said.

Sports memorabilia is booming. Research firm Market Decipher estimated the market, excluding NFT sales, at $12.2 billion in 2021, and predicts it will grow more than 15% annually until 2032 — fueled by demand from millennials and the growth of online selling platforms.