Michael Jordan’s Last Dance Jersey Sold At USD 960,000 For Sotheby’s Saudi Debut

Amidst global, political and economic ambiguity, Sotheby’s—in a historic first—brought down its hammer on 8th February 2025 in Diriyah,  Saudi Arabia. Dubbed ‘Origins,’ this auction unfolded beneath the Arabian stars in a rustic 250-seat outdoor amphitheatre, culminating in a resplendent total of $17.28 million. This two-part evening auction showcased an eclectic mix of 120 oeuvres—from artworks and designer handbags to sports memorabilia and watches—by regional and international artists.

While a surreal atmosphere corralled the Bujairi Terrace in the Diriyah district of Saudi Arabia for the auction, these precious opuses staged a pre-sale exhibition for a multitude of visitors from 1st to 8th February 2025. Perfectly timed with the Diriyah Season—an annual themed festival held in the kingdom—this meticulously curated auction saw an arresting one-third of buyers from Saudi Arabia while positioning itself to appeal to the kingdom’s deep-rooted connoisseurs.

A Bold Leap Into New Markets

Sotheby’s first commercial auction in the region ushers in a premeditated coalition between its 280-year-old legacy and the Kingdom’s rich ethos and imminent art scene. The auction house selected the Gulf region for its burgeoning wave of private and public collections, alongside a growing roster of biennials, recognising its emergence as a social hub. In a kingdom that has remained traditionally insular, the past five years have marked a cautious yet decisive shift, fostering partnerships with external commercial and cultural entities. This deliberate and momentous transformation aligns with a grander scheme of events—Saudi ‘Vision 2030.’ Launched by Crown Prince Mohammed bin Salman in 2016, it aims to diversify the Saudi economy, society, and beliefs. 

Also Read: The Business Of Antiques With The Golden Triangle’s Douglas Van Tress

Sotheby’s Saudi debut made a historic shift before an audience of 300, including a few royals, etched history by opening a live auction of physical works to accepting cryptocurrency for all lots. This alchemy of tradition and ingenuity crystallised in Refik Anadol’s digital work titled, ‘Machine Hallucinations,’ in collaboration with NASA. This ethereal artwork was acquired for $900,000 in cryptocurrency by the newly minted Bity Foundation, helmed by Swiss tech visionary Gian Bochsler and advisor Romain Sabah. While the total crypto transactions remain undisclosed, the auction house sees this move as a step toward attracting buyers in regions where digital art and cryptocurrency are booming. The trend isn’t new, as major auction houses like Christie’s and Sotheby’s expand their NFT and digital art platforms—Christie’s 3.0 and Sotheby’s Metaverse respectively—in response to the crypto’s growing influence in the art market. As decentralised finance gains momentum, cryptocurrency offers transparency, boundless reach, and appeal to next-gen, tech-savvy collectors.

A Cultural Renaissance

The mixed-genre sale spotlights jewels, watches, handbags, and iconic sports memorabilia alongside blue-chip contemporary and regional tour de force. Here are some of the highlights: surrealist masters like René Magritte’s whimsical gouache painting ‘L’État de veille’ which sold for $1.2 million, affirming his market supremacy, topping Picasso ‘with a record $312.3 million auction total this year. The sale staged a dynamic mix of eras and mediums, from pop art by Andy Warhol’s portrait of ‘Queen Elizabeth’ to contemporary works in Damien Hirst’s ‘Faithless’ (estimated at $400,000–$600,000). Additionally, the Surrealist lineup featured Paul Delvaux’s ‘La Légende égyptienne’ ($500,000–$700,000), Giorgio De Chirico’s ‘Due Cavalli in riva al mare’ ($350,000–$450,000).

Veering from the artworks, headlining the auction was Michael Jordan’s Last Dance jersey, estimated at $1.2 million—a relic of sporting history—and match-worn pieces by Cristiano Ronaldo. While opulent timepieces from Cartier, Audemars Piguet, Richard Mille, and Rolex shined, with a peculiar 2007 Cartier Crash, estimated at $130,000–$260,000. The outdoor offerings in Diriyah include; Antony Gormley’s ‘Sidle’ ($700,000–$900,000), James Turrell’s light installation ($120,000–$180,000), Alexander Calder’s ‘Haute Couture’ ($700,000–$900,000), and Robert Indiana’s ‘AMOR’. 

Also read: This New Complex Of The National School Of Business In Bengaluru Features Biophilic Elements And Climate-Responsive Architecture

This auction spotlights Indigenous Arab artistry, through Mohammad Al Saleem’s ‘O’ God, Honour Them’ ($180,000–$250,000), and Abdulhalim Radwi’s ‘Untitled’ ($120,000–$180,000). Further elating the sale, Louay Kayyali’s poignant ‘Then What??’ ($500,000–$700,000), and Samia Halaby’s utterly captivating ‘Blue Trap in a Railroad Station’ ($200,000–$300,000), serve as pivotal reflections of the Arab modernist movement.

The Gavel And The Gold

As with all firsts, triumph is never certain—it’s always a delicate balance of hit or miss. In response, Sotheby’s navigated this while embarking on a calculated journey into uncharted waters. Underscoring the rarity of a ‘new location and a milestone auction,’ the auction house’s decision to tap into the region’s budding collector landscape stems from its collaboration with the Diriyah Biennale Foundation for its 2024 edition. With nearly two-thirds of Saudi’s population under 30 and half of last year’s bidders under 40, the appetite for luxury tchotchkes is shifting tides. On auction night, jewellery lots and Hermès bags remained unclaimed, hinting at changing preferences in a rapidly maturing market.

Also Read: A Serene Penthouse In Chennai Is Imbued With Japanese Aesthetics Of Wabi-Sabi And Shibui

Sotheby’s auction in Saudi Arabia marks a significant moment in the kingdom’s cultural and economic evolution. The sale’s striking success is the result of a six-month endeavour by a team of 50+ members, which united global artistry with a nativist reverence for heritage. Emerging in the wake of a $1 billion investment from Abu Dhabi’s Sovereign Wealth Fund,  the auction deepens Sotheby’s global integration while reshaping its leadership, with three board seats now held by Emirati fund managers. Spanning the grand arc of Western art history, this curation traverses the ethereal strokes of Impressionism, the unbridled imagination of Surrealism, and the bold abstractions of Modernism.