A basketball jersey believed to have been worn by former President Barack Obama as a high school student in Honolulu could be yours.

The bidding has already begun for the white cotton-and-wool-blend garment bearing a blue No. 23, a number later famously also worn by Michael Jordan and LeBron James. Heritage Auctions, a Dallas-based company known for sales of sports memorabilia, coins, comics and movie posters, describes it as having been worn by Mr. Obama during his senior year at Punahou School when he was a member of the 1979 boys’ varsity basketball state championship team.

Mike Provenzale, a production manager for Heritage Auctions, estimated that the jersey could fetch upward of $100,000 (bidding stood at $30,000 as of late Monday afternoon). The main factors that drive the value of any collectible are rarity and popularity or influence of the player, he said.

“But no one has ever sold anything like this,” Mr. Provenzale said in an interview on Monday.

A handful of presidents’ golf clubs have been sold that were used during their time in office or before their political careers, he added.