Auctions
Michael Jordan takes his place next to Monet and Picasso as Sotheby’s makes its mark in sports memorabilia
Sotheby’s is synonymous with iconic names such as Monet and Picasso.
Trusted to sell some of the most recognizable, centuries-old pieces of fine art have helped cement Sotheby’s reputation as one of the premiere auction houses in the world. Established in 1744 in London, it is the oldest company internationally in that line of work.
But even 275 years into its business, Sotheby’s hadn’t met its full potential. One category the auction house giant had only dabbled in in the past was emerging as a cultural phenomenon. By 2020, sports memorabilia and collectibles were hitting record levels. Collectors and investors clamored over historical jerseys, record-setting baseballs and rare game-used memorabilia.
Sotheby’s wanted a piece of the multibillion-dollar pie. In 2020, it branched out into selling sports memorabilia and collectibles; it has become one of the fastest growing categories for the renowned company.
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According to Brahm Wachter, Sotheby’s head of modern collectibles, 10 years from now physical assets and reminders of the past are just going to continue to become more and more important.
Adding sports memorabilia to its repertoire has brought in a different clientele base from Sotheby’s everyday collector.
“I think that a new generation is inheriting wealth, is growing their own wealth, and I think the things that matter to them are different from some of the historical categories at Sotheby’s,” Wachter told SCD. “They might be interested in Old Master paintings, they might be interested in vintage artists, but they also might be interested in Michael Jordan, and they also might be interested in Marty McFly and sneakers. They carry a different set of interests in the same way that comic books became collectibles and important and their value just continues to grow and grow and grow.
“Sports collectibles have also been collected in the past, but their value is also growing. It’s growing because more and more people come into the space that are attached to it from their childhood and are inflicted with sort of that sense of nostalgia for a different time. And I think it’s just going to keep growing.”
ACQUIRING AMAZING PIECES
Sotheby’s made its entry into the sports memorabilia space in May 2020 when it auctioned off a pair of the first Air Jordan sneakers. Worn by NBA legend Michael Jordan during the 1985 season, the kicks went for $560,000.
The sale solidified Sotheby’s as not only a viable source for top-notch sports memorabilia, but one of the leaders.
In just six years, Sotheby’s has gone from selling the 40-year-old pair of sneakers to auctioning off an estimated 6,000 sports memorabilia pieces in 2026.
How has Sotheby’s been able to lock down so many amazing pieces to sell in such a short amount of time?
“I know where all the bodies are buried, that’s the answer,” said Wachter, who personally is a memorabilia collector. “Over time, I’ve tried to figure out where everything is and so when I want to bring something great to market, I usually know who has it and I know who wants it and I’m able to structure a deal.”
Sotheby’s has consolidated its auction calendar in 2026 and will run two large-scale sports memorabilia auctions in July and December.
“You go to some of our competitors’ sites, there could be nine different auctions up at the same time. It’s really difficult to cut through all the static and get people’s attention with so many auctions happening at the same time,” Wachter said. “We decided going into this year that we were shifting strategies and we’re going to focus on these sort of big marquee moments where you can really make an impact.”
Sotheby’s still runs its Sports Week auctions in conjunction with NBA Auctions. It is also holding various special auctions every few months. Sotheby’s presented The Scottie Pippen Collection, a 71-item lot. Items from the NBA Hall of Famer took in $6.2 million in early March 2026.
It is currently hosting a 2026 NBA Finals Auction, featuring game-used jerseys from most of the New York Knicks and San Antonio Spurs who played in the finals. The auction, which opened June 30, has a game-worn jersey from NBA Finals MVP Jalen Brunson with a current bid of $380,000. A Knicks OG Anunoby jersey currently sits at $100,000, while a Victor Wembanyama Spurs jersey has a current bid of $75,000.
The bulk of its 6,000 memorabilia items Sotheby’s will auction off this year will be basketball related. It is the official game-worn partner with the NBA.
“Historically, we’ve really specialized in basketball. That’s where we’ve sort of made our name and we own nearly every record in the basketball space for every type of collectibles—whether it’s shoes or jerseys or warmup tops, anything,” Wachter said. “I think we have a new focus this year and moving into next year, we’re definitely very interested in baseball, we’ve definitely interested in F1. We think that F1 is a tremendous opportunity where there’s some players, but there’s not a ton of focus right now. Obviously, football’s an important area, too.”
With so much focus on basketball, Wachter is pleased to announce Sotheby’s is dipping into baseball much more in 2026. Both sports attract worldwide attention, which greatly appeals to Sotheby’s clients.
“I think basketball, it’s like a certain cultural nerve,” Wachter said. “The way that it influences sneaker culture, the way that it influences fashion. It kind of fits within our ecosystem. I do think, though, that baseball was such an important part of American history and, obviously, we have a number of clients that are really interested in it. So, we’re going to be focusing much more on it in the future.”
Wachter and his team have already consigned some of the most famous pieces of sports memorabilia on the planet. Wachter’s all-time favorite item is the shirt soccer legend Diego Maradona wore when the Argentinian scored the “Hand of God” goal in the 1986 World Cup. Sporting one of the greatest exhibitions held in London, the Maradona shirt sold for $9.28 million in May 2022.
“For me, there’s something about that Maradona jersey,” Wachter said. “The way that it was assembled, it was basically thrown together right before the event because the shirts they were wearing weren’t working. Then you have the ‘Hand of God’ play in that jersey, which is obviously an infamous moment where he hit the ball in with his hand and got away with it. Then four minutes later he scored the ‘Goal of the Century,’ which is known as perhaps one of the greatest goals ever in the history of soccer. To have all of that in a four-minute window and in the same shirt is just mind-boggling.”
The Maradona shirt is far and away the top item Wachter has ever handled at Sotheby’s. The second best item has to be Kobe Bryant’s home locker at the Staples Center. Estimated to sell for $1-$1.5 million, the locker of the NBA superstar fetched $2.88 million in August 2024.
“We sell items that are used by an athlete for a game, for a minute, for a half. To have something that was literally used for like 95% of his career, he like lived in that locker, that was unbelievable,” Wachter said. “I think it was reflected in the price.”
MOVE TO TRA
After building success in the sports memorabilia category, Sotheby’s decided to expand into the hot trading card market.
Partnering with trading card giant Fanatics, Sotheby’s held what it dubbed a “Holy Grails” auction in September 2024. It featured some of the top cards in the hobby. The 33-card lot hit over $7 million in sales as bidders from 20 countries partook in the star-studded, live event.
Highlights from the auction included a 1955 Topps Roberto Clemente PSA 9 (sold for $840,000); 2005-06 Upper Deck Michael Jordan and Julius Erving Exquisite Collection Dual Logoman Autographs 1/1 BGS 8.5/10 ($780,000); 2005-06 Upper Deck LeBron James Exquisite Collection 1/1 Autograph Patch BGS 8.5/10 ($576,000); 2015 Panini Immaculate Collection Tom Brady Premium Patches Game Used NFL Shield Patch Autograph 1/1 PSA Authentic 10 Autograph ($480,000); 2018 Topps Chrome Sapphire Shohei Ohtani Superfractor 1/1 BGS 9.5/10 ($336,000); and a 1948 Leaf Jackie Robinson PSA 8 ($312,000).
Sotheby’s has not hosted another large-scale trading card event since that auction, but the company still has cards on its radar. Even as one of the top auction houses in the world, it’s tough to stand out in an extremely competitive market.
“With trading cards, there’s a massive amount of growth but it’s also a very saturated market field. So, I think we’ve been more focused on the memorabilia business than cards, specifically just because there’s so many players focused on cards,” Wachter said.
For a company with 282 years under its belt as an auction house, Sotheby’s is just at the tip of the iceberg when it comes to handling sports memorabilia and trading cards.
Sotheby’s goal for these categories: continue to grow.
“It’s one of the bigger luxury categories at Sotheby’s,” Wachter said. “We believe that the appeal of sports is enormous. The sheer fact that franchises are transacting for $10 billion tells you a lot about where the future of sports is headed, and we believe that it can be just as big as anything else here.”
