Michael Jordan’s 1998 Finals Jersey Sells for $14 Million, Underscoring New Peak for Basketball Memorabilia

MIAMI – A game-worn, autographed Michael Jordan road jersey from the 1998 NBA Finals has been privately sold for $14 million, an auction house announced Monday, describing it as the highest price ever paid for a piece of basketball memorabilia.

Pennsylvania-based Hunt Auctions said the jersey was sold in a private treaty deal to Miami real estate investor Ron Firman. The red Chicago Bulls jersey is the one Jordan wore in Game 2 of the 1998 NBA Finals on June 5, 1998, when the Bulls defeated the Utah Jazz in Salt Lake City to level the series at one game apiece.

Relic from ‘The Last Dance’ Era

Jordan and the Bulls went on to win that Finals series in six games, securing the franchise’s sixth championship and the final title of Jordan’s Hall of Fame career. The 1997-98 campaign, often framed as the Bulls’ “Last Dance,” later became the focus of a 10-episode documentary series released in 2020, which reignited global interest in that season and its associated memorabilia.

That renewed attention has helped transform key items from the 1998 Finals into headline assets within the wider sports collectibles market, placing them alongside the most coveted game-used artifacts from other major sports.

From Jersey to ‘Elite Asset Class’

“While Michael Jordan’s importance within the sports memorabilia marketplace has long been established it has now escalated to an elite asset class more typically reserved for iconic works of art,” said David Hunt, president of Hunt Auctions. “We are very pleased to have been able to facilitate this historic sale which serves as another benchmark for our industry.”

Firman, identified by Hunt Auctions as the buyer, welcomed the acquisition in a statement distributed by the auction house.

“Michael Jordan was an incredibly talented player who is admired around the world,” Firman said. “I’m very excited about the purchase.”

Where the $14 Million Deal Ranks

At $14 million, the jersey becomes one of the most valuable game-worn items in any sport and, by the auction house’s measure, the most expensive piece of basketball memorabilia ever sold.

Among game-used jerseys across all sports, the sale ranks behind the $24.12 million paid in 2024 for the New York Yankees jersey Babe Ruth wore when he hit his famed “called shot” home run against the Chicago Cubs at Wrigley Field in Game 3 of the 1932 World Series.

Within the specific subset of Jordan’s 1998 Finals uniforms, this deal continues a pattern of eight-figure prices:

• Game 1 jersey – sold at auction in 2022 for about $10.1 million
• Game 3 jersey – auctioned last month for about $12.3 million
• Game 2 jersey – now privately sold for $14 million

This is at least the third time a Jordan jersey from that Finals series has cleared the $10 million mark, underscoring sustained demand for items tied to his final championship run.

Chain of Custody and Collectors’ Confidence

Hunt said the jersey Firman purchased was originally acquired from the Bulls by a private collector in 2003 and “has remained within a succinct chain of custody having only changed hands once from the original purchaser.”

In the high-end memorabilia market, documented provenance and limited change of ownership are critical factors in preserving value. Clear links back to the original team source can help reassure buyers, insurers and authenticators that a piece is genuine and properly documented.

Jordan Market Continues to Expand

Items connected to the 1998 Finals and Jordan’s final season with the Bulls have drawn intense interest from collectors and investors in recent years, as basketball memorabilia increasingly competes with long-established baseball and global football markets.

In 2023, a pair of Air Jordan sneakers worn by Jordan in Game 2 of the 1998 Finals against the Jazz was sold by Sotheby’s for $2.2 million, a figure that was presented at the time as a record for the most valuable sneakers ever sold.

Taken together, the multimillion-dollar sales of jerseys and shoes from the same series highlight how a narrow window of Jordan’s career has effectively become a standalone asset category within the broader collectibles space.

From Court to Investment Market

The surge in prices around Jordan’s Finals memorabilia has unfolded alongside a wider institutionalization of the sports collectibles sector. Game-worn items, graded trading cards and match-used equipment are now routinely treated as alternative investments, with professional valuation, insurance and long-term storage strategies.

Basketball items in particular benefit from the international reach of the National Basketball Association, whose global media footprint has helped turn Jordan into a cross-generational reference point for fans and investors from North America to Europe and Asia.

As values have climbed, the market has narrowed around a small number of iconic moments and athletes. Jordan’s final championship run with the Bulls sits in that upper tier, alongside historic events in baseball and other major sports, making each verified item from the 1998 Finals a focal point for high-net-worth collectors.

The $14 million price achieved for the Game 2 jersey reinforces that trend and suggests that, for a select group of basketball artifacts, the ceiling for future sales is still being tested.