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Michael Jordan’s Bulls ‘signing jersey’ expected to fetch up to $400,000

Chicago Bulls' all-time starting lineup

The great Michael Jordan’s first-ever Chicago Bulls jersey is being auctioned, and it could reportedly fetch close to half a million dollars once it is sold to an avid collector.

This report comes via Firstpost.com:

The red and white jersey emblazoned with Jordan’s name and the number 23 is expected to fetch between $200,000 and $400,000, the auction house said.

To be clear, the specific jersey that will be sold off is the one that was handed to Jordan by the Bulls at his introductory press conference after they selected him third overall during the 1984 NBA Draft. It does not seem like Jordan actually wore the jersey to a game, as this would have increased the value of the piece of memorabilia significantly.

The auction will be held by famed auction house Julien’s Auctions, and it is not scheduled until December. They’re obviously trying to hype the piece for potential buyers, providing the collectors with a little less than half a year to contemplate their auction tactics. According to reports, a Kobe Bryant-signed jersey and basketball will also be auctioned in December.

For most of us who are unfamiliar with the ins and outs of the big-money world of basketball memorabilia, the price tag of this particular MJ jersey is not exactly staggering. It pales in comparison to a LeBron James rookie card that was recently auctioned off for a record-breaking $1.8 million.

If you’re interested in entering this high-stakes world, and if you have half a million lying around, then this Jordan jersey would be a good place to start.