If Michael Jordan were a stock, analysts would have a buy rating on the former basketball icon.After the airing of the ESPN and Netflix documentary “The Last Dance,” sales of nearly every product associated with the six-time NBA champion are soaring to new heights. To get more news about cheap air jordan, you can visit nkspaces official website. nkspaces2010 ！
In an online auction at Sotheby’s, an autographed pair Air Jordan 1s sold for a record $560,000 on Sunday, setting the new world auction record for any pair of sneakers and attracting bidders as young as 19 years old.We saw tremendous bidding up until the moment the sale closed, with the value more than doubling in the final hour alone,” said Brahm Wachter, Sotheby’s Director of eCommerce Development. “That, coupled with strong international bidding from six countries on four continents, shows not only the incredible appeal of Michael Jordan as one of the most recognizable and legendary athletes of all time, but also that sneaker collecting is truly a global and growing market.”
It has been nearly two decades since the 14-time NBA All-Star retired in 2003. While Nike’s Jordan brand sales continue to rise -- the brand had its first billion-dollar quarter last December -- a new generation is growing up without ever having seen what many consider the greatest basketball player of all time.
As the highly anticipated footage from “The Last Dance” finally made air, it has helped revive everything associated with the Jordan brand. The 10-part documentary aired to record ratings and has reignited the conversation about Jordan. Twitter said that there were more than 11 million Tweets were about “The Last Dance,” as the series aired. At the conclusion of the final episode, 20 of the 30 trending topics related to the documentary on Sunday night.
The newfound popularity has led to companies like StockX seeing record-breaking sales. The Detroit-based secondary sneaker marketplace said since the premiere of “The Last Dance,” an unsigned version of Air Jordan 1s are selling on the site at an average price of $7,123.
“Prior to the documentary airing, we hadn’t had a sale of this sneaker since 2017, and back then, it resold for $3,000. Thus, these latest sales represent a more than 100% increase in resale value,” said StockX senior economist Jesse Einhorn.
The company said over the past month, Jordan Brand sneaker sales are up 38% and it’s driving fans to their site.
“Each day the documentary has aired, we’ve seen a spike in traffic to Jordan catalog pages, with an average increase of 76% compared to a typical Sunday,” Einhorn added.
“The Last Dance,” chronicles Jordan’s rise to fame with Nike being a huge part of that. Nike signed Air Jordan to its company in 1984 and has released a signature shoe every year since.
“I believe they have been pulling back (on supply) to keep the heat,” said Sam Poser, a footwear analyst at Susquehanna group. “That’s the key to success and failures of brands these days,” he added.
According to NPD group footwear analyst Matt Powell, sales of Jordan brand have been trending somewhat better than the market. Nike declined to provide any sales data for its Jordan-branded products.
Data insight company GumGum analyzed the fifth episode of “The Last Dance” series and impact the exposure had on Jordan’s sponsors. GumGum calculated that Nike and Jordan brand received more than nine minutes of exposure in a single episode, worth $487,000.
It’s not just sneakers seeing the boost, but also collectibles and memorabilia. StockX, which also sells some memorabilia and collectible items, said prices are up 40% and sales are up 70% versus the previous month.
Michael Jordan trading cards saw the biggest increases. Sales of the Michael Jordan 1989 Hoops All-Star #21 have quadrupled, and prices for that card have doubled, since the documentary premiered last month.
