One of the letters to Jordan was from then-Tar Heels coach Dean Smith and the other by assistant Bill Guthridge.
After the restaurant closed in November 2003, the documents went into a storage locker and became the property of a man who purchased the locker after the storage bill was not paid.
"In my more than 30 years in the business, this is the first time I've ever seen documents like this," Goldin Auctions founder Ken Goldin said. "A recruiting letter to a major high profile athlete has never been available for the public to buy."
The auction, which opened Friday, listed the Smith letter at $5,000 and the Guthridge letter at $2,500 as opening bids. The documents, including Smith's handwriting on his letter, were authenticated by PSA/DNA.
Jordan's business manager Estee Portnoy said she had no comment on the auction.
Goldin also said an original copy of Jordan's North Carolina diploma and an original copy of his transcript with his UNC courses are also up for auction. Bidding on the diploma starts at $7,500 while the transcript is listed at $1,000. The auction closes Feb. 7.
"Michael Jordan is the Babe Ruth of modern athletes in terms of sports memorabilia," Goldin said.