Michael Jordan: “The Last Dance” appears to have created a bull market in the former NBA star’s Nike sneakers

'The Last Dance' is a look at Michael Jordan at his greatest

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

The conception of the Air Jordan sneaker line is also documented, and in what the basketball star thought would be his last ever appearance at Madison Square Garden, Jordan tied a pair of his first designer sneakers: the Air Jordan 1 ” Chicago “a shoe that was 13 years old at that point in 1998.

He is a coach who has been coveted by sneakerheads since the former Chicago Bulls star wore them in his rookie year – and has only been released a handful of times, most recently in 2015.

And while the prices on the resale market for this sneaker have always been growing, they have risen since the first episode of “The Last Dance” aired.

Cultural meaning

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

In the two weeks since the first airing on April 19, 60 pairs of the model have been sold at an average price of $ 1,241.

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

“I bought my Chicago couple in December 2018,” he tells CNN Sport. “Even then they weren’t cheap, but I found a couple in the United States who arrived” cheaper “than I could have gotten on this side of the pond. Having said that, they still took me back to less than £ 500 ($ 623 ). “

For Barber and many other sneakerheads, Air Jordan 1 has a special meaning, not only for its design but for its cultural importance.

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“That sneaker started a revolution, ignited a fire that still burns 35 years later. Jordan 1 is symbolic, but it is also a good identifier for who you are,” said Barber.

“People see you in that sneaker and immediately know you’re in your kicks. You will see the people who control your sneakers and they will give you a small nod of appreciation.”

It’s not just the 1s that increase in value; the price of many other Air Jordans has risen since the premiere of the show.

‘Kobes’

Just like the stock market, the sneaker market is a reflection of real world events.

When Kobe Bryant died in late January, the former LA Lakers star’s sneaker line rose in value.

Some “Kobes” that had previously been worth a few hundred dollars were suddenly sold for thousands of dollars.

Has been reported from a number of outlets which, in response, Nike has withdrawn Bryant-related goods to avoid retailers’ profits.
Nike later denied this, saying tha insteadThe company had just run out of Kobe products.
Jordan wore the model during his rookie year in the NBA.

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

In 2018, journalist and sneaker enthusiast Russ Bengtson wrote: “If it is difficult to separate Air Jordan 1 from the sneaker culture, it is because most of what we know as” sneaker culture “was born around Air Jordan 1 itself.”

About 35 years after the shoe came out, it’s still making waves.

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