Michael Jordan Rookie Card Fetches Record $2.5 Million at Auction

Los Angeles, CA – An autographed 1986-87 Fleer Michael Jordan rookie card sold for a record $2.5 million at auction on Thursday, making it the highest amount ever paid for a Jordan rookie card. The auction was conducted by Joopiter, a house co-founded by musician Pharrell Williams.

The bidding started at $2 million, and remarkably, only one bid was placed. The auction house’s 25% buyer’s premium increased the final price to $2.5 million. Previously, an autographed Jordan rookie card fetched $205,000 last March.

This sale marks the third-highest price ever paid for any Michael Jordan card. The highest remains a 1-of-1 2003-04 Upper Deck Ultimate Collection autographed card that sold for $2.928 million last June.

Experts have expressed surprise at the amount, with some questioning the card’s valuation. “It’s a shocking amount of money,” said Will Stern, a reporter for Cllct. Michael Osacky, a sports memorabilia appraiser, noted that the card’s fair market value is around $1 million.

The card boasts a Professional Sports Authenticator condition grade of Mint 9, while Jordan’s signature is graded Gem Mint 10. The signature was part of a special signing session where Jordan autographed nine rookie cards at his golf course in Florida in 2024.

Caitlin Donovan, Joopiter’s global head of sales, expressed excitement about entering the sports collectibles market. “With a focus on rare and iconic sports memorabilia, we look forward to bringing this community unique pieces of sports history,” she stated.

Joopiter, which opened in 2022, has mainly auctioned clothing and sneakers. The company has plans for future sports memorabilia auctions, although specifics have not yet been released.