On the seventh floor of its polished Upper East Side gallery, Sotheby's has launched Stadium Goods: The Ultimate Sneaker Collection, an auction in collaboration with the famed streetwear purveyor. The exhibition, which opened on July 11th, consists of one hundred pairs of the rarest sneakers in history accompanied by prices tags upwards of $16,000. Among the brands showcased are Off-White, Nike, Adidas, Jordan Brand, and Yeezy, with many pieces ranging from the mid-20th century to more contemporary, limited-edition releases.
But bidding won't be possible on any of the shoes, except for one pair, as Sotheby's announced that Canadian businessman Miles Nadal, founder of the Canadian private equity firm Peerage Capital Group, purchased 99 out of the available 100 pairs to the tune of $850,000. Nadal intends on showcasing his purchase at his Dare to Dream Automobile Museum in Toronto, where his collection also includes a bevy of automobiles and motorcycles.
The auction's pièce de résistance, a pair of 1972 Nike Moon Shoes, is still up for grabs as of yesterday evening. Specifically created for runners in the 1972 Olympic Trials, only 12 pairs of the Moon Shoe were originally produced. They were designed by Nike co-founder and Oregon University track coach Bill Bowerman, and hand-cobbled by one of Nike's first ever employees, Geoff Hollister. Therefore, each pair came out slightly irregular, which further adds to their rarity. One of the few existing pairs of the style, notably in unworn, deadstock condition (and a men's size 12.5), is up for grabs. Although the starting bid begins at a cool $80,000, prices are expected to soar double that amount.
Despite Nadal's sweep, the highly buzzed about event reflects a widespread cultural fascination with all things hypebeast, and underscores the ever-growing symbiotic relationship between the global high fashion and streetwear industries.