The Sothebys item is KingJames' most valuable game-worn jersey to appear at auction.
The auction will take place during Sotheby’s inaugural “The One” showcase on Jan. 27 in New York, which is timed to James possibly surpassing basketball icon Kareem Abdul-Jabbar as the NBA’s all-time leading scorer.
“The concept of ‘The One’ is to bring together really exceptional objects that showcase amazing works in crafts, amazing works in endeavor or amazing moments in history and predominantly three-dimensional objects,” Wachter explained. “What you have here is obviously not a work of art, but something that shows an amazing moment in terms of endeavor, in terms of LeBron building his career, building his legacy and becoming recognized as one of the greatest to ever play the game.
Sports memorabilia has become an important category for Sotheby’s in the last year, and one that the auction house is seeing increasing interest in. The auction of James’ jersey comes on the heels of Sotheby’s record-breaking sale of, which sold for $10.1 million in September, making it the most valuable basketball jersey ever sold. Sotheby’s previous record in sports memorabilia was the sale of Argentinian soccer player Diego Maradona’s “Hand of God” jersey, which auctioned for $9.3 million.
Wachter explained Sotheby’s is planning on hosting more sports memorabilia auctions “with a greater cadence and more frequency” in 2023. “The truth is there’s actually quite a large market event when you think about objects in the $50,000 to $500,000 range, which we could do a lot more [of],” he said. “In that sense, if you call that the kind of mid- to high-end market, we could build a lot more scale, which is something we will look to do in the next year.”
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