Michael Jordan's game-worn Bulls jersey costs $4.68 million

A game-worn Michael Jordan jersey from the Chicago Bulls' 1996-97 season sold for $4.68 million at Sotheby's.

The jersey was worn in at least 17 games during the season, including the game in which rookie sensation Allen Iverson crossed Jordan.

It is the fourth most expensive NBA jersey of all time behind Jordan's $10.1 million “Last Dance” jersey; an autographed Kobe Bryant jersey he wore in his only MVP season in 2007-08 that sold for just over $5.8 million; and a 1972 NBA Finals jersey worn by Wilt Chamberlain during the Los Angeles Lakers' first NBA title run ($4.9 million) – all sold through Sotheby's. The 1996–97 red Jordan jersey is the only MeiGray authenticated red jersey from Jordan's first five championship seasons.

According to Sotheby's, “The jersey has been privately owned since it was sold by the team.”

The jersey was one of five lots from the “Colossal | The Ultimate Jordan Collection” from Sotheby’s, which included a game-worn and signed jersey from Game 1 of the first round of the Eastern Conference playoffs during the 1998 “Last Dance” season (sold). for $840,000); a University of North Carolina practice kit of jersey and signed sneakers ($132,000); a set of used jerseys and shorts from the 1988-89 season, including playoffs ($1.08 million); and a 1992 Summer Olympics American flag signed by the “Dream Team” ($1.8 million) that was carried during the gold medal ceremony.

In total, the auction in Jordan brought in $8.5 million. The American “Dream Team” flag sparked a bidding war with 45 offers, perhaps due to the lore behind it – Jordan notably covered the Reebok logo with the flag out of loyalty to Nike.