Michael Jordan‘s got the Midas touch when it comes to legendary memorabilia.
The record-breaking price marks the highest price anyone has ever paid for any Jordan-related momento, which was previously $2.7 million for an autographed baseball card from the 1997-98 NBA season. It went for twice the amount originally projected which was already more than the previously most expensive Jordan vintage merch.
Sotheby’s says that the jersey’s rarity is what made it such a hot item that there were 20 offers on it and forced it to sell for twice the initial projection.
“Jordan’s 1998 NBA Finals Game 1 jersey is among the most highly desired pieces of sports memorabilia, and the present example is one of just two Finals jerseys to ever appear at auction, from any of his six championships,” Sotheby’s said in a statement.
It was originally worn against the Utah Jazz on June 3, 1998, where Jordan actually lost. Within the series, the Jazz had a fair shot at the trophy as they’d won both regular season games against Chicago and decidedly won Game 1 at home. However, the happiness would be short-lived as the Bulls came out on top in Game 2, and once things returned to the United Center, they made sure the series was locked up with a 42-point win. The 45-point game for Jordan cemented the Bulls’ sixth NBA title in just eight years, and his star status grew with his sixth NBA Finals MVP.
“Finals jerseys from Jordan … they just don’t come around,” Brahm Wachter, Sotheby’s head of streetwear and modern collectibles, said. “Red is really the color that people think about when they think about Michael Jordan, and this is the only red Finals jersey to ever appear at auction.”
This may be the most expensive piece of Jordan memorabilia to ever be auctioned off, but as always you can expect other items from his storied career to pop up for sale.