Michael Jordan's jersey that he wore in the 1998 NBA Finals has sold for over $10 million and has set the new all-time record a piece of sporting memorabilia has fetched.

Credit: AP-Scanpix
Credit AP-Scanpix

A jersey worn by basketball legend and icon Michael Jordan during the opening game of the 1998 NBA Finals has been sold for a record $10.1 million, which is about double the price it was expected to be sold for.

It was expected that Jordan's jersey would sell for roughly $5 million, so this has more than exceeded the expectations.

Jordan wore the Chicago Bulls jersey number 23 in Game 1 of the 1998 NBA Finals, which the Bulls lost, but eventually won the series and Jordan became NBA champion for the sixth time.

This sale has set the new all-time record price spent on a piece of sporting memorabilia has fetched.

Auction house Sotheby's says that the jersey has brought immense attention on Thursday and attracted a total of 20 bids.

The Netflix documentary The Last Dance, which displayed Jordan winning his sixth and final NBA title might have assisted in such attention to the item.

Sotheby's head of streetwear and modern collectibles, Brahm Wachter believes that this auction solidified Jordan as the greatest of all time.

"Today's record-breaking result... solidifies Michael Jordan as the undisputed G.O.A.T, proving his name and incomparable legacy is just as relevant as it was nearly 25 years ago," Wachter said.

The previous record for highest auctioned sporting memorabilia was paid for Argentinian football star Diego Maradona's shirt, which he wore at the 1986 World Cup. The price paid for it was $9.28 million.

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