In July 2019, the landscape of the sneaker market was forever altered when Sotheby's conducted its inaugural auction of sports footwear: a pair of vintage Nike “Moon Shoes” dating back to 1972. The bidding frenzy resulted in a staggering $437,000 sale price, nearly tripling the anticipated value of $150,000. Less than a year later, in May 2020, another milestone was achieved when a pair of autographed Air Jordan 1s fetched a jaw-dropping $560,000, signaling that this wasn't merely an isolated incident.
“These exorbitant prices signify more than just a pinnacle for collectors,” remarks Woody, editor-in-chief of Sneaker Freaker, in The World’s Greatest Sneaker Collections. “They also mark a surge in affluent investors viewing sneakers as blue-chip assets.” With these legitimizing sales at auction houses, private transactions for rare sneakers have surged, reaching dizzying heights. “In hindsight, both those initial sneaker sales seem like steals,” Woody notes, “if you can wrap your head around the notion of old athletic shoes being valued as much as a house.”
Some of these extraordinarily rare finds are available for purchase right now. On the Sotheby's auction platform, for instance, bids are open for a pair of Nike Air Force Ones designed by Virgil Abloh in collaboration with Louis Vuitton, limited to just 200 pairs—though they come with a hefty price tag of $190,000. (Coincidentally, they're in size 11, my size, in case anyone's feeling generous.) If that doesn't quite meet your extravagance threshold, consider the recently listed pair of signed Air Jordan 11s worn by MJ himself during the 1996 NBA Finals; the current bid stands at $380,000, with potential for further escalation.
But even these figures pale in comparison to the most exorbitant deals in the sneaker world. From exceedingly rare game-worn treasures to mind-boggling one-of-a-kind marvels, here are the priciest sneakers ever to exchange hands.
The Dynasty Collection, $8 million
Earlier this year, Sotheby's registered the most lucrative sneaker sale in the history of the auction house, when the eight-shoe pack known as the “Dynasty Collection” racked up an impressive $8 million sale.
The Dynasty Collection included eight sneakers actually worn by Michael Jordan during the NBA playoffs across eight different seasons. Tim Hallam, the public relations officer for the Chicago Bulls for many years, asked MJ for one of his game-worn shoes after the Finals in 1991—a practice Jordan continued after every playoffs performance thereafter, perhaps out of superstition. These eight shoes represent the other sneaker that Hallam did not receive in these cases.
What’s especially impressive about this sale is that none of the sneakers came in pairs. The lot also included a set of signed photos by Bill Smith of Jordan following each of the Finals, in which he can be seen wearing a shoe on just one foot.
“The Last Dance” Air Jordan 13, $2.2 Million
After the runaway success of ESPN’s Jordan documentary The Last Dance in 2020, interest in Air Jordan sneakers worn during MJ's final season with the Chicago Bulls surged. Last year, a buyer completed a sale at Sotheby's for an ultra-rare pair of Jordan 13s that were on His Airness's feet for the iconic final game of the 1998 NBA Finals.
The grand total? A staggering $2.2 million, negotiated in advance and in line with estimates from the auction house. It was a landmark sale for a single pair of sports shoes and a reminder that when it comes to sports memorabilia, it’s hard to beat Michael Jordan. The kicks were in the “Bred” colorway and appeared to be in good condition, especially considering they saw some serious action on the hardwood.
Nike Air Yeezy Samples, $1.8 Million
Of course, it’s not just Jordans making noise on the high-end sneaker market, as this monumental sale proved. In the spring of 2021, Sotheby's registered a sale at auction of a one-of-a-kind pair of Nike Air Yeezy prototypes, which Kanye West debuted onstage at the Grammys in 2008. The sneakers were the first-ever pair sold for more than a million dollars.
The Yeezys were purchased by the investing platform RARES. The company’s CEO and founder, Gerome Sapp, told the press that the shoes were acquired “in order to increase accessibility and empower the communities that birthed sneaker culture with the tools to gain financial freedom,” adding that buying them was like securing “a piece of history.”
Nike Air Ship, $1.4 Million
When this pair of Nike Air Ships sold for nearly $1.5 million at auction via Sotheby’s in late 2021, they briefly became the most expensive sports shoes of all time and remain one of the most expensive pieces of sports memorabilia ever sold. Worn by Michael Jordan during his fifth-ever NBA game in November 1984, they are a definitive part of sneaker history.
Serious sneaker fans know the Air Ship as the first model Jordan sported in the league, while the design for the Air Jordan was still being finalized by Nike. This particular pair of Air Ships would have been one of the first and only shoes Michael ever wore on the court that weren’t part of his signature shoe line, making them in some ways even more special.
“Flu Game” Air Jordan 12, $1.3 Million
Following Game 5 of the 1998 NBA Finals, a Utah Jazz ball boy by the name of Preston Truman was given a once-in-a-lifetime gift: the sneakers Michael Jordan wore during the game. In 2020, in the wake of the release of The Last Dance and the uptick in collectors’ interest in Air Jordans, Truman sold the shoes to Grey Flannel Auctions for a little over $200,000. Just three years later, in early 2023, they sold again at auction for an incredible $1.38 million.
The significance of these shoes is amplified by their association with the legendary Flu Game, during which Jordan famously battled through severe food poisoning to deliver one of his most iconic performances. Dubbed the “Flu Game,” the black-and-red Air Jordan 12s have since become synonymous with this historic event, cementing their status as the original iteration of one of the most cherished Jordan color schemes. Rarely do game-worn sneakers carry such rich and storied histories.
