Answer: $1.47 Million 

Questions:

• How have Michael Jordan's success and achievements impacted the value of his sneakers?
• Outside of basketball, how else has Michael Jordan been extremely successful?
• Have you ever bought or sold a product in the resale market? Why?
• Why are certain brands/products so desirable in the resale market?

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Behind the numbers (NPR):

"The pair of Nike Air Ships that Michael Jordan wore during his first season with the Chicago Bulls sold for nearly $1.5 million at an auction.

The shoes were estimated to sell between $1 million to 1.5 million before the auction. The shoes were sold to collector Nick Fiorella for $1.47 million.

The Nike Air Ship shoes were what Jordan played in before Nike gave him his own line of clothing and shoes, which would later become a household brand name and make Jordan a billionaire. It was the first time Nike ever collaborated with a player in such a way."

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For more on the sneaker industry, check out the FinCap Friday: Strong Shoe Game!

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About the Author

Mason Butts

After graduating from UCLA with a Master's in Education, Mason spent 5 years as a science educator in a South Los Angeles public high school. He is committed to supporting the holistic growth of all students and empowering them to live a life of relational, academic, and financial success. Now settled in the Bay Area, Mason enjoys facilitating professional developments and partnering with educators as they prepare students for a bright financial future. When Mason is not building curriculum or planning a training, he can be found cycling, trying new foods, and exploring the outdoors.