If you are actually planning on buying an NBA Championship ring so that you can also experience the perks of being a premium basketball player, you will have to pay a lot for it. The word “a lot” involves a lot of cash that you might not be able to afford even in your lifetime. But seriously, can NBA rings cost that much? Yes, they sure do!
So, how much is an NBA championship ring worth?
On average, the worth of an NBA Championship ring can go as little as $10,000, and you can expect to pay even a half-million dollars for the premium or historical NBA rings wore by some of the greatest basketball players.
But do you know the reason behind so much hiked prices of NBA rings? Well, there are multiple reasons that can back up the price of the NBA rings. So let’s check them out without any further delay!
Why are NBA Championship rings so much expensive?
As I have stated above, NBA rings can cost much more than usual rings. The thing is, this is how the world works in the sports industry. If you can take the example of Football, Ronaldo sold one of his Golden Shoes for more than a hefty million dollars to support the ones in need. Why would anyone buy the Golden Shoe for that much money? Because that shoe was owned by the remarkable Cristiano Ronaldo, who has done so much for the industry.
The same case goes for basketball. The NBA Rings are usually worn by the NBA finalists and great players who have millions of fans from all over the world. Then those rings are placed for auction on various marketplaces to be sold to the highest bidder. Different people from all over the world bid higher and higher on the rings, and then it is finally told within the bidding period.
Who gets the NBA Championship Ring?
Before understanding that who gets the NBA rings, you must know what the NBA rings are. Well, it is pretty simple as the name itself tells you what the Championship rings are. Just like regular rings, NBA rings are also physical rings that can be worn in the fingers without any problems or hassles. So if you think if the NBA rings are used for showcase purposes only, then you might be wrong. The players can wear the rings and go out to show their achievements through it and feel proud.
Now towards the real question, who gets the NBA championship ring? You can conclude it by the name, but it is not that simple. Some people think that the NBA ruing is only given to the captain of the team, but it is undoubtedly not the case. NBA rings are provided to the whole team players, meaning everyone in the squad gets the ring without a doubt. Well, this is the perk of winning an NBA championship with your team and working hard enough to reach that milestone.
What are NBA championship rings made of?
This aspect also plays a crucial and vital role in increasing or decreasing the worth of NBA championship rings. But the thing is, the material used in the NBA rings is not always the same. These rings are manufactured by different companies and brands each time so that the material can vary.
But mostly, NBA rings are usually made of gold along with the yellow nature. Along with the gold, different pearls and stones are used to make the rings pleasing and even more fascinating.
If we talk about what type of stones and pearls are used in the production of NBA rings, then know that Diamonds are generally used. The reason behind choosing Diamonds over other stones is that Diamonds are considered more valuable than any other asset. Not only that, but the overall shining and its combination with gold can be just too good to be ignored.
If you still think about why NBA rings are so expensive, then go through the paragraph above again, and you will get your confusions sorted.
Some players who auctioned their NBA Championship rings for a massive amount!
You might now be thinking that what is the highest amount that a ring could be auctioned for? Well, to solve your queries, here are some of the players who auctioned their NBA rings for various purposes!
1. Kareem Abdul Jabbar
Kareem Abdul Jabbar is considered the basketball legend who won a massive amount of rings in his lifetime. Kareem Abdul Jabbar won several NBA championships in his lifetime and then decided to auction 4 NBA rings to help the needy people. One thing to note here is that Kareem Abdul Jabbar had six rings at that time, and he auctioned 4 of those rings. If you are thinking about what prices those 4 NBA rings were sold for, then here are the details:
- The NBA ring of the 1980 championship was auctioned for $245,000
- The NBA ring of the 1985 championship was auctioned for $343,700
- The NBA ring of the 1987 championship was auctioned for $398,937
- The NBA ring of 1988 championship was auctioned for $245,000
The highest ring that he sold off was in 1987 that he auctioned for a whopping amount of $398,937. The best thing is, this amount was not raised for himself but for the ones who were in need.
2. Meta Artest
Meta Artest is very popular among the basketball players for his defensive abilities. Not only that, but he has also won several awards for his fascinating abilities, and that is why he is so prevalent in the world. He has long retired from basketball and is currently coaching the South Bay Lakers team. If we talk about the NBA ring that he auctioned, he sold that NBA ring for the massive amount of $500,000. He won that ring in NBA 2010 Championship and decided to auction the ring for charity.
3. Julius Erving
The worth of a player who could single-handedly lead his team to the finals and even win it for them can be priceless. That can be the main reason why Julius Erving auctioned his 1974 NBA ring for a considerable amount of $460,000. This amount in 1974 was a lot, but he also deserved that for his performance in the whole tournament.
Which player has won the most number of NBA rings?
Bill Russell is the one who won the most number of NBA rings throughout his career. He holds the record of owning 11 NBA rings to his name, which he won with the same team, the Boston Celtics.
If you are now thinking that Bill can become a millionaire by auctioning all of his rings, then you are probably wrong. The reason behind it is that Bill is not that popular among the fans, and he is also not very known among the other players. So why would anyone spend a lot of money on getting the ring of a player who is not so famous? That is why the players like Jordan can earn much more money by selling their rings than the players like Bill. But still, it is a fascinating achievement for Bull Russell as no one has done what he has done in the history of basketball. Not only that, but no one knows if there will be anyone to break this record, that too with a single team.
If you love a basketball player who has already won an NBA ring, you will have to wait until that ring is up for auction. But most probably, you will have to spend a ton of money on that ring to get your hands on it. But if you are actually willing, anything is possible! So work hard, and who knows if you will be able to get the NBA ring of Jordan in the future? If no one bids higher than you, that is!
I have been playing basketball for more than a decade now, and my passion and enthusiasm for it drove me to write about it. I am Ahmed, a professional basketball player and a fan who has now become a writer to help fellow basketball players and enthusiasts to opt for the best possible basketball accessories and essentials. Stay tuned to feast yourself with the content you might not have seen anywhere else.