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 Michael Jordan's iconic jersey worn during the Game 1 of the 1998 NBA Finals for his last title victory sold for a record $10.1 million (estimated to P579 million), Sotheby's said.

The red Chicago Bulls jersey with Jordan's number 23 was the highest record price with a jaw dropping sum of any game-worn sports memorabilia. The auction house said that it is more than double the initial estimates paid. 

The Sotheby's said that previous highest was for the shirt worn by Diego Maradona during the "Hand of God" game against England at the 1986 World Cup with $9.28 million.

"In the weeks since we announced the auction, there's been palpable excitement from not only sports fans, but collectors alike who are eager to own a rarefied piece of history," Brahm Wachter, Sotheby's Head of Streetwear and Modern Collectables, said.

"Yet again, today's record-breaking result... solidifies Michael Jordan as the undisputed G.O.A.T, proving his name and incomparable legacy is just as relevant as it was nearly 25 years ago."

Jordan's jersey is expected to fetch $3 to $5 million at Sotheby's "INVICTUS" auction and would surpass Kobe Bryant's $3.7 million Los Angles Lakers jersey worn in his rookie year - a previous record for a basketball jersey at auction.

Jordan's jersey was named after the 2020 ESPN/Netflix documentary chronicling Jordan and Chicago Bulls in their quest to win their sixth NBA championship in eight years which attracted a total of 20 bids.

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