A very rare pair of Nike ‘Moon Shoes’ were bought by Canadian investor Miles Nadal for $437,500 at Sotheby’s in New York. Photograph: Erik Pendzich/REX/Shutterstock

Rare Nike running shoes were sold for more than $400,000 at auction

Aminy Andawi
Business & Industry
Retail & Food Services
Jul 24, 2019
2242
One of the first pairs of running shoes made by Nike in 1972, has sold for $437,500 at a public auction. The shoes were designed by Nike co-founder and track coach, Bill Bowerman in 1972 specifically made for runners at the 1972 Olympic trials. The so-called “Moon Shoe” was the top in the first-ever auction for sneakers at Sotheby’s auction house, New York.

According to Sotheby’s, the price of the shoes breaks the auction world record for a pair of running shoes. The buyer was Miles Nadal, a Canadian investor and a car collector who also paid $850,000 for other 99 pairs or limited or rare collection of sneakers. Previously, the highest price fetched at an auction for sneakers was $190,373 for a pair of signed Converse shoes have been worn by Michael Jordan in the final of Olympic basketball in 1984.

The “Moon Shoe” was handmade with a waffle sole pattern and was one of the only 12 pairs ever made and were auctioned on Tuesday, and are the only ones known to exist in an unworn condition. The founder of investment firm Peerage Capital, Nadal stated that the “Moon Shoe” is a true historical artifact in sports and pop culture history.

Source: https://www.theguardian.com/business/2019/jul/24/rare-nike-running-shoes-fetch-more-than-400000-at-auction

Business , Retail , Nike , Auction