Sotheby's has altered its strategy for selling game-used NBA jerseys in an attempt to better capitalize on specific players and teams.
"In the past, we would get in the product and would quickly turn it around and sell it," Brahm Wachter, the auction house's head of modern collectibles, told cllct. "Now, we are saying that it pays for us to wait for major moments or in-season catalysts before doing so."
Wachter announced on social media this week that Sotheby's was holding back Oklahoma City Thunder jerseys, as the defending NBA champions make a run at the best regular-season record of all time, owned by the 2015-16 Golden State Warriors (73-9). The Thunder are currently 24-1.
Wachter also said Sotheby's has held back the sale of some rookies' NBA debut jerseys.
"The season is long, and a lot of things can happen that can make that young player's jersey more valuable." Wachter said, adding that other jerseys from those rookies are available.
Top pick Cooper Flagg's summer debut jersey sold for $95,520 in August.
In 2023, the NBA and Sotheby's announced a multi-year partnership for game-used memorabilia, which allowed product to go directly from the locker room to the high-end auction house for the first time.
This season, Sotheby's has broken out its NBA auctions into two groups: a weekly auction and a more premium auction that focuses on the best of the best. That premiere auction will include the jerseys worn in the upcoming Christmas Day games.
"We think this could be better for us, but I think it's also better for investors of the market," Wachter said. "For example, those who bought Thunder jerseys last year will have better comps as a result of our strategy to protect prices."
Wachter said the company will not hold back LeBron James jerseys unless the Lakers star formally announces his 23rd season will be his last.
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Darren Rovell is the founder of cllct and one of the country's leading reporters on the collectibles market. He previously worked for ESPN, CNBC and The Action Network.