As many a sneaker collector painfully knows, sneaker reselling is big business these days but we don’t think anyone expected Sotheby’s sneaker collection to sell for what it did.
According to CNBC, Sotheby’s and Stadium Goods threw up an auction on Thursday for 100 pairs of the rarest Nikes, Jordans and Adidas known to man and in the end one man from Canada ended up coughing up $850,000 for the collection. No, it wasn’t Drake and no, DJ Khaled hasn’t suddenly moved to Canada. The winning bid came from a Canadian entrepreneur and investor known as Miles Nadal.
It’s the first sneaker auction ever at Sotheby’s and highlights the rise of urban streetwear to the rarefied auction world. Today’s younger collectors are more interested in pop culture and urban fashion, so as they inherit or make more wealth, they are buying up everything from rare Air Jordans to skateboard decks and Supreme-branded boxing gloves.
Nadal said he plans to display the sneakers at his Dare to Dream Automobile Museum in Toronto, where he houses his collection of 142 cars and 40 motorcycles.
“I have always been an avid enthusiast and appreciator of unique art and collectibles that represent innovative design, exceptional craftsmanship and new and exciting trends in pop culture,” he said.
The $850K collection included holy grails such as the highly coveted Nike Air Mags (Back To The Future II kicks) and the extremely limited edition Air Jordan XI “Derek Jeter” joints and we ain’t talking about the lows that dropped a few summers back. We’re talking about the highs that fetch up to $40,000 alone. Other chalices included the Eminem Air Jordan “Carhartt” IV’s, Air Jordan “Wahlburger” IV’s, and a few Air Jordan “Supreme” V’s.
Still for anyone feeling left out of the auction festivities there’s still a grail to be had as the The 1972 Nike Waffle Racing Flat Moon Shoe is still on the market but be warned, the classic silhouette is expected to fetch up to $160,000. The bidding begins at a cool $80K and bidders have up to Tuesday to try to land a pair of the unwearable moon shoe.
The Nike Waffles were designed by Nike co-founder Bill Bowerman and used a waffle-like sole, which was Nike’s breakthrough brand innovation. Only 12 pairs were made for runners at the 1972 Olympic trials, and the pair being auctioned is thought to be the only ones that weren’t actually worn.
We’d rather save our pennies for kicks that we can actually wear to a party. But that’s just us. To each his/her own…
Sotheby’s & Stadium Goods Fetch A Cool $850,000 In Sneaker Auction was originally published on hiphopwired.com