The amount paid is the highest price paid for a Jordan collectible at auction, surpassing Jordan's "flu game" shoes, which was sold last year for just under $105,000.
"No one who has been out of the game fewer than fifteen years has had items sell for these kinds of prices," said Ken Goldin of Goldin Auctions, which sold the jersey and a pair of game-worn shoes from the 1996 NBA Finals for $34,160. "Michael Jordan is the collectible equivalent of Babe Ruth."
Jersey authenticator MeiGray authenticated the jersey as matching the jersey worn on April 18, 1998, when Jordan scored 44 points against the New York Knicks, the last time he wore the red and white in a regular-season game on the United Center floor. The jersey also came with a letter from the Bulls vouching for its authenticity as being game-used.
Other items that sold in the auction included Keith Hernandez's personal 1986 World Series trophy ($51,240), a 1998 Derek Jeter batting helmet ($8,540), a pair of signed Moses Malone game-used goggles ($5,795) and Lawrence Phillips' 1995 Nebraska NCAA title ring ($3,660).