Game-worn sports collectibles, from Michael Jordan jersey and shoes to Diego Maradona’s 1986 jersey, and other unique items continue to captivate many Generation Z (Gen Z), driving their interest in auction rooms, according to Sotheby's CEO Charles F Stewart.
“(Gen Z) investing in new categories... game-worn sports collectibles is a huge trend and we have set and broke our own records many times in shoes, in worn jerseys,” he said at a discussion titled ‘The World of Art and Luxury’ with Bloomberg Television anchor Manus Cranny at the Qatar Economic Forum 2023 yesterday.
Stewart noted that the Jordan jersey set a new benchmark for game-worn jerseys, sold for a record-breaking $10.1mn. It surpassed the $9.3mn Diego Maradona's "Hand of God" jersey from the 1986 World Cup and the $5.8mn Kobe Bryant jersey, worn during the 2007-2008 NBA season.
He acknowledged the basketball legend’s unparalleled status in the field of collectibles, both in terms of jerseys and shoes. “I think Gen Z is interested in things that are unique, in a world of homogeneity, ‘how do you standout’, ‘how do you think about self-expression’, finding unique objects whether it is a 1945 Cartier bracelet or Freddie Mercury collectibles, not something that you get anywhere. That brings interest into our auction rooms over and over,” said Stewart, who also underlined the importance of ‘digital-first engagement’ to capture the attention of Gen Z.
About the recent luxury art and jewellery sales in New York and Geneva, he said both events displayed strong resilience, revealing that more than $1.8bn worth of art was sold in a week and with many records being set and notable strength observed in the high-end segment.
About the preferences of Sotheby's clients, the super-rich and true buyers, in 2023, Stewart said that clients are particularly attracted to items that possess a unique appeal and scarcity. “What we’ve seen, anything that has a particular appeal, real scarcity, work that is fresh to market or an object, we see these across categories, it might be painting. In Geneva last week, we’ve set a record for a very rare Daytona Rolex John Player special, sold for CHF2.2mn, so things that are fresh and scarce have a particular appeal,” he added.