Michael Jordan "Last Dance," 1998 Finals Game 2 jersey sells for record $14 million

There apparently is no ceiling on what people will pay for Michael Jordan memorabilia.

The game-worn, autographed red Chicago Bulls jersey Michael Jordan wore for Game 2 of the 1998 NBA Finals in Utah was sold, through a private treaty sale, for $14 million, a record for any piece of basketball memorabilia, announced Hunt Auctions, which arranged the sale.

This tops the $12.5 million paid for Jordan’s Game 3 jersey from that same “Last Dance” NBA Finals. Hunt Auctions identified the buyer as Ron Firman, a Miami real estate investor.

“In our opinion, and 36 years of market experience, Babe Ruth and Michael Jordan stand above all others in the history of American sports…” said David Hunt, President of Hunt Auctions, in announcing the sale. “While Michael Jordan’s importance within the sports memorabilia marketplace has long been established, it has now escalated to an elite asset class more typically reserved for iconic works of art. We are very pleased to have been able to facilitate this historic sale, which serves as another benchmark for our industry.”

“Michael Jordan was an incredibly talented player who is admired around the world,” Firman said in a statement released by Hunt Auctions. “I’m very excited about the purchase.”

Anything Jordan — and especially tied to the 1998 “Last Dance” season — is red hot on the memorabilia market. Jordan and the Bulls beat the Jazz in the 1998 NBA Finals, ending on Jordan’s iconic pull-up jumper.

This Jordan jersey is the most ever paid for any NBA jersey and the second most ever paid for a game-worn jersey (a Babe Ruth 1932 World Series Yankees jersey sold for $24.1 million two years ago). Hunt Auctions detailed the Jordan jersey’s chain of custody, which changed hands only once, in 2003, from the original purchaser.