Nike Shoes Hit World Record Sneaker Auction Price of $437,500

(Reuters) – A pair of 1972 running shoes, one of the first pairs made by Nike Inc, sold for $437,500 on Tuesday, breaking the record for a pair of sneakers at public auction.

The so-called Nike ‘Moon Shoe’, designed by Nike co-founder and track coach Bill Bowerman for runners at the 1972 Olympic trials, was the top lot in the first ever sneaker auction at home. at Sotheby’s auction in New York.

Sotheby’s said the price was a world auction record for a pair of sneakers. The buyer was Canadian investor and car collector Miles Nadal, who previously paid $850,000 for another 99 pairs of rare or limited-collectible sneakers offered by Sotheby’s.

The previous highest price fetched at public auction for sneakers was $190,373 in California in 2017 for a pair of signed Converse shoes said to have been worn by Michael Jordan in the 1984 Olympic basketball finals. said Sotheby’s.

Sotheby’s, best known for selling works of art worth tens of millions of dollars, has teamed up with streetwear marketplace Stadium Goods to auction off 100 pairs of the rarest sneakers ever produced in a venture that reflects their status in growing as collectibles.

The handmade ‘Moon Shoe’ with a waffle sole pattern was one of 12 pairs ever made and the pair that went up for auction on Tuesday is the only known to exist in unworn condition, a said Sotheby’s.

Nadal, the founder of investment firm Peerage Capital, said in a statement that he was delighted with his purchase, calling the “Moon Shoe” a “true historical artifact of sports history and pop culture.” .

“I think sneaker culture and collecting is about to have a breakout moment,” he added, saying he planned to display them, along with the other 99 pairs he has. acquired at a private sale last week at his private car museum in Toronto.

Nadal’s haul included 2011 and 2016 versions of Nike’s limited-edition “Back to the Future Part II” shoes, inspired by the 1989 film starring Michael J. Fox, and limited-edition sneakers produced by Adidas, Air Jordan and rapper Kanye. West’s Yeezy collection.

Noah Wunsch, global head of e-commerce at Sotheby’s, said the sneaker auction brings together art, culture and fashion.

“We can’t wait to see where this sale takes us, not only in future sneaker offerings, but also in other new luxury lifestyle areas,” Wunsch said.

Reporting by Jill Serjeant; Editing by David Gregorio and Lisa Shumaker

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