A $4.2 million jersey sounds like a fortune. Until you realize it was expected to sell for much more. When Michael Jordan first suited up in the red Chicago Bulls jersey for his NBA preseason debut in Peoria, Illinois, on October 5, 1984, no one could have predicted that this very piece of fabric would become one of the most coveted sports artifacts decades later. At the time, it was just another uniform. Fast forward 40 years, and that same jersey just sold for a staggering $4.2 million at Sotheby’s.

But here’s the kicker: it was expected to go for $10 million. That’s quite the gap, especially considering the record for a Jordan jersey stands at $10.1 million, set in 2022 for his Game 1 Finals uniform from the legendary 1998 season. Even though this latest sale still ranks among the top three Jordan jerseys ever sold, some fans weren’t too thrilled about the final price.

The most mind-blowing part? Someone had the chance to own this jersey for just $1,000 back in 1984. A figure 0.02% of its current valuation. And they walked away.

“At the time, it was just a piece of laundry,” Sotheby’s SVP of modern collectibles Brahm Wachter once said. It’s almost laughable to think how little regard memorabilia had back then. The highest bidder at that auction didn’t even follow through, leaving the underbidder to claim the jersey for just $800.

Now, after being appreciated by a jaw-dropping 5,262.5 times, the jersey has changed hands again. However, some of the fans had issues with this auction.

Fans react to  Michael Jordan’s jersey’s selling price

“That honestly feels cheap,” one user wrote. Now, considering the estimated selling price was $10 million and the fact that the jersey holds a historical value, $4.2 million does feel disappointing. For those wondering why there’s so much frustration, let’s break it down.

Michael Jordan wore this jersey in his first-ever preseason game against the Pacers, where he dropped 18 points in front of a tiny crowd of about 2,000 people. No photos exist from that night, only video footage, making this one of the rarest Jordan jerseys out there. So yeah, $4.2 million for such iconic memorabilia feels like a steal — but not in a good way. No wonder yet another X user wrote, “Wow way lower than estimate.” 

Meanwhile, some fans had their eyes on an entirely different issue. “There’s a similar rookie year MJ jersey being held by @CollectableApp. Any update where the shareholders stand with that and their other items?” one user asked. It’s a different situation, sure, but it just shows how much Jordan memorabilia still matters to people.

And then there were those who just couldn’t let go of that $10 million expectation. “What happened to $10 million?” one such fan bluntly asked. And really, it’s a fair question. This wasn’t some random jersey Jordan wore once and tossed aside—it got used in multiple preseason games before being shelved. Given that history, fans can’t help but wonder: Did this iconic piece of basketball history deserve better?