Final item in sneaker auction sells for $437,500 - footwearbiz: Leadin

News

Final item in sneaker auction sells for $437,500

26/07/2019
Final item in sneaker auction sells for $437,500
A Canadian entrepreneur who earlier this month paid $850,000 dollars for all but one pair of sneakers that were up for auction at New York auction house Sotheby’s has won the bidding for the pair that evaded his grasp.

Sotheby’s auctioned the 100 pairs of extremely rare sneakers in collaboration with sneaker and streetwear platform Stadium Goods.

Miles Nadal, the founder of an investment firm, had offered to buy the whole collection, with all the owners accepting the offer, except the owner of the 1972 Nike Waffle Racing Flat 'Moon Shoe'.

This item remained open for bidding until July 23, with Mr Nadal finally agreeing to pay $437,500 for this single pair. They had been expected to fetch $160,000.

The 1972 Nike Waffle Racing Flat 'Moon Shoe' was designed by Bill Bowerman, the co-founder of Nike. Just 12 pairs were made. 

Mr Nadal described it as a "true historical artefact in sports history and pop culture".

He will display all 100 pairs at his private automobile museum in Toronto. 

Related stories:

Pop-up museum Sneakertopia to celebrate sneaker culture 02/10/2019
Nike designs voice-activated Huarache 04/09/2019
Nike’s first subscription service ‘takes pain out of shopping for children’ 14/08/2019
Sotheby’s trainer collection (almost) sells for $850,000 22/07/2019
Sneakers are a ‘new universal language’ 17/07/2019

footwearbiz.com cannot be held responsible for content if the language setting is changed from English.

The translations provided by Google Translate are automated and therefore might not be accurate and may contain incorrect, offensive or misleading language. We offer this facility as a guide only.