Sotheby’s is expanding its range of Michael Jordan sports memorabilia with its latest auction.
The auction house revealed Thursday it will be selling Michael Jordan’s 1992 Summer Olympics “Dream Team” Reebok jacket, which is estimated to sell for $1 million to $3 million and will be on sale from Thursday through June 28.
Jordan’s Reebok jacket is billed as one of the most controversial items the athlete wore during his career. The NBA star famously wore the jacket when accepting the gold medal during the Olympic Games, but he covered the jacket’s logo with the American flag. While Jordan was contractually obligated to wear Reebok for the Olympics, he was almost a decade into his longstanding relationship with Nike, which launched his Jordan brand.
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“The ‘Dream Team’ influence on basketball is immeasurable,” said Brahm Wachter, Sotheby’s head of streetwear and modern collectibles. “To be able to sell this relic from such a historic world event — one that is often credited for multiplying the popularity and global reach of basketball — is both rare and unparalleled. And, beyond its legendary place in Olympic history, the jacket represents Michael Jordan’s fierce and devoted loyalty to Nike, a transformative and revolutionary partnership between two powerhouses that has stood the test of time.”
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This is Sotheby’s latest Michael Jordan auction this year. Last month, the auction house sold Jordan’s 1998 NBA Game 2 Air Jordan 13s for $2.2 million, making them the highest publicly recorded price for a pair of sneakers. The sneakers were from the athlete’s famed “The Last Dance” season, which was his final season with the Chicago Bulls where the team earned its sixth Championship of that decade.
Last September, Sotheby’s auctioned off Jordan’s 1998 NBA Finals Game 1 Jersey, which also broke records and sold for $10.1 million, making it the most valuable basketball jersey sold at auction.
Jordan and his partnership with Nike have received newfound interest in the last month thanks to the new film “Air,” which chronicled the inception of the Jordan brand at the beginning of the athlete’s NBA career.