Basketball legend Michael Jordan's Olympic 1984 shoes auctioned for jaw-dropping amount

A pair of shoes worn by Michael Jordon during the 1984 gold medal winning Olympic finals was sold at an auction in the US for a whopping $190,373 (Rs 1.2 crore approx), the highest price on record for game-used sneakers. The previous record for a pair of game-used shoes sold at an auction was $104,765 (Rs 67.5 lakh approx), also held by the US basketball player for the ones he wore in Game 5 of the 1997 NBA Finals, known as the "Flu Game."

"The record-shattering price proves that Michael Jordan has no equal in the marketplace for game-used basketball memorabilia," Dan Imler, vice president of SCP Auctions was quoted as saying by ESPN. The size 13 dual-signed shoes are considered to be in great condition, despite the wear and tear of the game use.

The highly-coveted Converse sneakers are ultra-rare as they feature Jordan's original pre-NBA autograph form and because he signed a contract with Nike shortly after US beat Spain in the basketball finals of the 1984 Olympics held in Los Angeles, US.

The shoes are the last pair Jordan wore in a competition as an amateur, the SCP auction house said. The white and navy blue trimmed shoes are a canvas and leather mid-top design. The navy blue Converse star logo appears on both sides and again on the upper heels.

The original white laces are present and they even include Jordan's very own navy blue orthotic inserts. The shoes are very well-preserved with all structural and aesthetic components perfectly intact.