Sports Memorabilia Market Booms as Sotheby’s Expands Offerings
Do you have a passion for sports memorabilia? If so, you’re not alone. The market for athletic collectibles is growing rapidly, and Sotheby’s is taking notice. The prestigious auction house recently announced its first “Sports Week,” featuring six live and online auctions with items from some of the most iconic names in sports.
Sotheby’s decision to focus on sports comes as demand for sports memorabilia continues to soar. The valuation of sports memorabilia reached $26.1 billion globally in 2021, and experts predict that number will skyrocket to $227.2 billion by 2032. This lucrative market has attracted a younger demographic of collectors, with Sotheby’s average client for sports memorabilia falling between the ages of 20 and 40.
The rise in interest in sports collectibles was further fueled by the popularity of the documentary series “The Last Dance,” which chronicled Michael Jordan and the Chicago Bulls’ quest for their sixth NBA title. This surge in demand for Jordan collectibles has spilled over into other sports memorabilia categories.
In response to the growing interest in sports collectibles, Sotheby’s has significantly expanded its offerings and is actively seeking partnerships with various sports organizations. The auction house recently made headlines when it sold The Dynasty Collection, a set of six game-worn Air Jordan sneakers worn by Jordan during his six NBA Finals championships, for $8 million.
The upcoming Sports Week auction at Sotheby’s will feature items like Muhammad Ali’s shorts from the legendary “Thrilla in Manila” match, Kobe Bryant’s jersey from Game 1 of the 2009 NBA Finals, and sneakers worn by NBA legends like Jordan, Bryant, LeBron James, and more. The entire collection is expected to fetch over $12 million, with individual items ranging from $500 to $6 million each.
Whether you’re a seasoned collector or just starting your sports memorabilia journey, Sotheby’s Sports Week has something for everyone. Don’t miss your chance to own a piece of sports history!
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