Shoes worth more than a house

Air Jordans sell for record $2.2 million

Auction house Sotheby’s just sold a pair of signed sneakers that Michael Jordan wore during the 1998 NBA finals. The record breaking $2.2 million winning bid was actually on the low side of expectations. The pre-sale estimate was a range between $2 and $4 million.

“The sale speaks volumes of Michael Jordan’s legacy as one of the most influential athletes, businessmen and pop culture icons of our time,” says Brahm Wachter, Sotheby’s head of streetwear and modern collectables. What makes these sneakers unique is their good condition. They look pretty much like they did 25 years ago when Jordan took them off for the last time.

If I had $2.2 million in cash I would rather buy a house than these sneakers. Looking rich is expensive. But being rich is cheap. Not that you would ever wear these particular Air Jordans anyway. 🙂

Sports memorabilia can be a profitable investment if you know which ones to buy and buy them early enough. A Michael Jordan jersey was sold last year for over $10 million, setting another record, this time for jerseys.

Jordan himself currently earns millions of dollars every year from royalties.

Random Useless Fact

The Mineral and Gem Museum will pay a $25,000 reward to anyone who can recover a 1kg meteorite that potentially crashed along the Maine-Canada border.