Sneakers give art a run for its money at first-of-a-kind Sotheby’s auction
Sotheby’s is teaming up with streetwear marketplace Stadium Goods to auction 100 pairs of the rarest sneakers ever produced, including a sample of one of the first Nike Inc running shoes with a pre-sale high estimate of $160,000.Updated: Jul 14, 2019 10:17 IST
Move over Monet. Nike is hot on your heels.
Sotheby’s in New York announced on Thursday its first-ever auction dedicated to sneakers, underlining their fast-growing status as collectibles able to command tens of thousands of dollars.
Sotheby’s is teaming up with streetwear marketplace Stadium Goods to auction 100 pairs of the rarest sneakers ever produced, including a sample of one of the first Nike Inc running shoes with a pre-sale high estimate of $160,000.
The Nike Moon Shoe is one of only 12 pairs created. It was designed by Nike co-founder and track coach Bill Bowerman for runners at the 1972 Olympics trials and the pair up for auction is handmade, Stadium Goods said.
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100 of the rarest sneakers in history are now on view in our #NYC galleries. Our online-only sale in collaboration with Stadium Goods - the world’s premier #sneaker and #streetwear marketplace – offers sneakers from their famed Trophy Case, which features the most exclusive and coveted sneakers produced by Nike, Air Jordan, Adidas, Yeezy and more, spanning over 15 years of the most sought-after, limited-edition drops. Just one of the rare pairs on offer is this Nike Mag 2016 – the once-fictional sneaker worn by Marty McFly in the blockbuster film, ‘Back to the Future Part II’. Following petitions from fans to create the mythical design, the brand released just 1500 pairs of Nike Mags in 2011. In 2016 Nike released an even rarer version, featuring self-lacing technology; only 89 pairs were produced. We invite all #sneakerheads and fans of rare collectibles, streetwear, and #fashion to drop into our York Avenue galleries tomorrow through 23 July to view these highly-coveted kicks up close. #SothebysStadiumGoods #StadiumGoods #Nike #MartyMcFly #BackToTheFuture
Other sneakers include 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.
The 2016 version of the futuristic shoe, complete with self-lacing technology, is expected to sell for between $50,000 and $70,000.
“We’ve long talked about how sneakers are this generation’s luxury fashion, and being able to collaborate with a brand with the history and esteem of Sotheby’s is further proof of that,” John McPheters, co-founder of New York-based Stadium Goods, said in a statement.
Other shoes in the online sale, beginning on Thursday and ending on July 23, include sought-after and limited-edition sneakers produced by Adidas, Air Jordan and rapper Kanye West’s Yeezy collection.
Noah Wunsch, global head of eCommerce at Sotheby’s, said the sneaker sale was bringing together “art, culture and fashion” and marked another step in the auction house’s expansion of offerings of highly coveted luxury goods. The shoes are on public exhibit at Sotheby’s in New York through July 23.
The highest price fetched at public auction for sneakers is thought to be $190,373 in 2017 for a pair of signed Converse shoes said to have been worn by Michael Jordan in the 1984 Olympic basketball final. The shoes were auctioned through California sports memorabilia company SCP.
(This story has been published from a wire agency feed without modifications to the text.)