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Michael Jordan: ‘The Last Dance’ seems to have created a bull market in former NBA star Nike sneakers

Michael Jordan: 'The Last Dance' seems to have created a bull market in former NBA star Nike sneakers

In episode five of the successful 10-part documentary series, “ The Last Dance, ” we see that Jordan almost turned down Nike as a sponsor, potentially missing a billion dollar opportunity.

The design of the Air Jordan sneaker line is also documented, and in what the basketball star thought was his last appearance at Madison Square Garden, Jordan puts on a pair of his first signature sneakers: the Air Jordan 1 “ Chicago ”. a shoe that was 13 years old at that time in 1998.

He’s a trainer who has been coveted by sneakerheads since the former Chicago Bulls star wore them during his rookie year – and has only been reissued a handful of times, most recently in 2015 .

And while prices on the resale market for this sneaker have always been dynamic, they have skyrocketed since the release of the first episode of The Last Dance.

Cultural significance

According to Stockx, a website where people can buy and sell sneakers and streetwear – much like traders buy and sell stocks – between January 1, 2020 and the series premiere on April 18, 217 pairs of 2015 Air Jordan 1 ‘Chicago’ retro trainers were sold for an average price of $ 925.

In the two weeks since the series aired on April 19, 60 pairs of the model were sold for an average price of $ 1,241.

Sneakerhead Paul Barber from Sunderland in the UK runs a sneaker art Instagram account called @Sneaksketchuk and is an Air Jordan 1s collector.

“I bought my Chicago pair in December 2018,” he told CNN Sport. “Even then, they weren’t cheap, but I found a pair in the United States that was” cheaper “than what I could get on this side of the pond. That said, they always made me back a little less than £ 500 ($ 623). “

For Barber and many other sneakerheads, the Air Jordan 1 is of particular importance, not only for its design but its cultural importance.

“This sneaker started a revolution, it started a fire which, even 35 years later, is still burning. The Jordan 1 is symbolic, but it is also a good identifier for who you are,” said Barber.

“People see you in this sneaker and they instantly know you’re in your kicks. You will see people checking your sneakers and they will give you a nod of appreciation.”

It is not only the 1s that increase in value; the prices of many other Air Jordans have gone up since the show premiered.

“Kobes”

Like the stock market, the sneaker market is a reflection of real events.

When Kobe Bryant died in late January, the former LA Lakers star’s line of sneakers exploded.

Some “Kobes”, which used to be worth a few hundred dollars, were suddenly sold for thousands of dollars.

It was reported by a number of outlets which, in response, Nike have removed goods related to Bryant to prevent dealers from making a profit.
Nike later denied this, saying instead, the company had just sold Kobe products.

The cultural significance of Air Jordan 1 should not be underestimated.

In 2018, journalist and sneaker aficionado Russ Bengtson wrote: “If it’s difficult to separate Air Jordan 1 from sneaker culture, it’s because most of what we call” sneaker culture “appeared around Air Jordan 1 itself . “

Some 35 years after the release of the shoe, it is still making waves.

source–>http://rss.cnn.com/~r/rss/edition_sport/~3/BRZtsTRa5Ak/index.html

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