How Much Is The NBA MVP Trophy Worth?

The NBA MVP Trophy is one of the most prestigious awards in all of basketball. So, how much is it actually worth?

Introduction

In addition to the recognition and glory that comes with being named the NBA MVP, the award also comes with a monetary prize. According to Forbes, the value of the MVP trophy is $58,000.

This figure takes into account the cost of materials (gold, silver, etc.), as well as the labor involved in creating the trophy. The trophy itself is 22 inches tall and weighs approximately 15 pounds. It is made of 14-karat gold and features a round base that is supported by three curved legs. The words “Most Valuable Player” are engraved on the front of the trophy, along with the recipient’s name and year.

How the NBA MVP Trophy is Made

The NBA MVP Trophy is made of 14.5-karat gold, stands two feet tall and weighs 30 pounds. It is worth an estimated $250,000. The trophy is made by Tiffany & Co. and features a round disc with a basketball player in the center surrounded by 11 smaller discs representing the players on a basketball team. There are also 24-karat gold-plated replicas of the MVP Trophy that are awarded to the members of the winning team.

What is the Trophies Worth?

The NBA’s Most Valuable Player (MVP) is an annual National Basketball Association (NBA) award given since the 1955–56 season to the best performing player of the regular season. The winner receives the Maurice Podoloff Trophy, which is named in honor of the first commissioner (then president) of the NBA, who served from 1946 until his retirement in 1963. Until 2011, the MVP was selected by a vote of NBA players. Since 2012, a panel of sportswriters and broadcasters throughout the United States and Canada has been entrusted with the task of voting after each completed NBA regular season. Beginning in 1981, media members were designated as voters instead of players.

Currently, each voter ranks their top five choices for first place votes, with their ballots worth 10 points each for their first choice selections. The player(s) with the most total points win(s) the award. As of 2019–20, eleven players have won this award multiple times: Kareem Abdul-Jabbar (6), Michael Jordan (5), LeBron James (4), Bill Russell (5), Wilt Chamberlain (4), Moses Malone (3), Larry Bird (3), Magic Johnson (3), Steve Nash (2), Dirk Nowitzki (2), and Russell Westbrook (2). Hakeem Olajuwon, Tim Duncan, and Kobe Bryant are tied for second place with two awards each

How the Value of the Trophy has Changed Over Time

The value of the NBA MVP Trophy has changed over time, with the most recent estimate valuing it at $50,000. The trophy was first awarded in the 1955-56 season, and its value has since risen steadily. In the early years of the award, it was made of 14-karat gold and weighed 22 pounds. Now, the trophy is made of sterling silver and weighs 30 pounds.

The trophy has undergone several design changes over the years as well. The most notable change came in the 1988-89 season when a new trophy was designed by Tiffany & Co. The current design is a modification of that original design.

The value of the trophy has increased significantly since its inception. In today’s dollars, the trophy would have been worth $17,500 in 1956. This means that the trophy’s value has increased by 285% over the past 60 years.

Conclusion

The NBA MVP trophy is worth around $30,000. The most prestigious individual award in the NBA, the Larry O’Brien Championship Trophy, is worth around $13,500.