The $4500 Basketball Shoe
September 4, 2010
In January 2008 a set of vintage 1985 Nike Air Jordan basketball sneakers sold online for $4500. These original Air Jordans were in peppermint situation, with tags attached, still in the box, and had never been worn. Amazing? Not really, contemplating the Air Jordan trainer is just as well-liked today as it’s ever been.
A Strong Start
Back in 1985, people were essentially robbed at gunpoint for their Air Jordans. Prior to the signature shoe’s start, Nike signed Michael Jordan to a then unheard of 2.5 million dollar endorsement deal. The shoe’s bold black and red styling clashed against the NBA’s then usual color scheme of team colours on white and was banned by authorities. Jordan continued to wear the sneaker on court and was fined $5000 per game. Nike gladly picked up that tab and has been cashing in on the sneakers popularity ever since.
On the streets, the footwear was the very first ever to be priced at $100 and was desirable by children almost everywhere. Thus the gunpoint robberies reported in some cities. If you had Jordans, you had status. There were even common television ads aimed by and showcasing director Spike Lee with the tag line: “It’s Gotta Be The Shoes.”
Still Going Strong
The Air Jordan line is presently at the milestone version Jordan 11 coordinating the now retired number worn by Jordan throughout his championship years with the Chicago Bulls. The footwear was unveiled in restricted edition at only 23 locations nationwide at a price of $230. Just one month later, sets of the limited edition version XXIII (23) sell for up $1500.
Over the 23 years since the original introduction the Jordan 1, the Air Jordan has seen a brand new launching each year. It’s also expanded beyond the footwear to clothes, fragrances, and jewellery. In latest years, with no slowing in the lines recognition, Nike has re-issued some Air Jordan types in limited edition and presented a “retro” line of Air Jordans to monetize on the demand shown by collectors.
Is this the end?
The Jordan brand, with it’s “Jumpman” logo of a silhouetted Jordan, has now been spun to it’s own division of Nike. Some current NBA players are being signed on to the Jordan brand rather than to their own signature lines as is routine with other vendors. Jordan himself is now part-owner of the Charlotte Bobcats and Nike won’t opinion on the particulars of their current contract with the legend.
With the Air Jordan line presently at the landmark version XXIII (23) and still preferred as ever with admirers and readers, neither Nike nor Jordan will verify or deny gossips that the line may end with version the Jordan 8. As profitable as the line has been for Nike and Jordan, I wouldn’t bet on it ending any time soon. This is business, after all, and who kills a thriving brand? Either way, the sneaker will live on even after Nike and Jordan have cashed their checks and moved on as collectors continue to purchase and sell them in the growing resale market.
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