The shoe is a collaboration between Jordan and Paris fashion house Dior. It is the first time Jordan has teamed up with a luxury fashion brand.
It dropped last month and was limited to only 8,500 pairs, each pair individually numbered.
The shoes sold out within seconds through an online raffle system, with one report by fashion publication WWD claiming that more than 5 million people signed up to buy the shoes.
The sneakers originally retailed at $2,200 (about R38,000) but their value has apparently skyrocketed since the launch.
Reputable shoe trading service StockX listed its last sale of the shoe for a cool R171,478.
The average asking price on the site is listed between R171,822 and R258,510.
In 2017, Black Coffee had the streets talking when he posted a pic of himself with a black Bentley, which retails from R3.7m.