A pair of 1972 running shoes, one of the first pairs made by Nike Inc, sold for $437,500 (over R6 million) on Tuesday, shattering the record for a pair of sneakers at public auction…

The so-called Nike “Moon Shoe,” designed by Nike cofounder and track coach Bill Bowerman for runners at the 1972 Olympics trials, was the top lot in the first-ever auction dedicated to sneakers at Sotheby’s auction house 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 had previously paid $850,000 (Rover11,8m) for 99 other pairs of rare or limited collection sneakers offered by Sotheby’s.

The highest previous price fetched at public auction for sneakers was $190,373 (R2,6m) in California in 2017 for a pair of signed Converse shoes said to have been worn by Michael Jordan in the 1984 Olympic basketball final, Sotheby’s said.

A Nike “Moon Shoe” is on display at Sotheby’s auction house in New York on July 12, 2019. Nike co-founder Bill Bowerman designed the shoe’s sole using his wife’s waffle iron. The shoes were made for runners at the 1972 Olympic trials. Sotheby’s expects the shoes to auction online for between $110,000 to $160,000. (AP Photo/Ted Shaffrey)

 

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Sotheby’s, better known for selling artworks fetching tens of millions of dollars, teamed up with streetwear marketplace Stadium Goods to auction 100 pairs of the rarest sneakers ever produced in a venture that reflects their fast-growing status as collectables.

This image taken from video shows the Nike handmade Moon Shoe, designed by Nike co-founder Bill Bowerman in 1972, on display in New York on Friday, July 12, 2019. The sneaker is among 100 pairs of rare sneakers up for auction at Sotheby’s in New York. Bidding runs through July 23. (AP Photo/Ted Shaffrey)

One of only 12 pairs ever made

The handmade “Moon Shoe”, with a waffle sole pattern, was one of only 12 pairs ever made and the pair that were auctioned on Tuesday are the only ones known to exist in an unworn condition, Sotheby’s said.

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

A Nike “Moon Shoe” is on display at Sotheby’s auction house in New York on July 12, 2019. Nike co-founder Bill Bowerman designed the shoe’s sole using his wife’s waffle iron. The shoes were made for runners at the 1972 Olympic trials. Sotheby’s expects the shoes to auction online for between $110,000 to $160,000. (AP Photo/Ted Shaffrey)

 

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

Nadal’s haul included 2011 and 2016 versions of the “Back to the Future Part II” limited-edition shoes by Nike that were 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.

This image taken from video shows a pair of Nike Mags ,inspired by “Back to the Future,” on display in New York on Friday, July 12, 2019. The sneaker is among 100 pairs of rare sneakers up for auction at Sotheby’s in New York. Bidding runs through July 23. (AP Photo/Ted Shaffrey)

 

Noah Wunsch, global head of eCommerce at Sotheby’s, said the sneaker auction brought together art, culture and fashion.

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

A pair of 2017 “Air Jordan 11 Jeter Derek Jeter” shoes are on display at Sotheby’s auction house in New York on July 12, 2019. Sotheby’s expects the shoes to auction online for $40,000 to $60,000. (AP Photo/Ted Shaffrey)
A pair of 2012 “Tom Sachs X Nikecraft Mars Yard” shoes are on display at Sotheby’s auction house in New York on July 12, 2019. Sotheby’s expects two pairs of the shoes to auction online for $9,000 to $12,000 (AP Photo/Ted Shaffrey)
A pair of 2017 Adidas Karl Lagerfeld sneakers are on display at Sotheby’s auction house in New York on July 12, 2019. Sotheby’s expects the shoes to auction online for $35,000 to $50,000 (AP Photo/Ted Shaffrey)

Author: ANA Newswire