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Really? For A Few Pair Of Sneakers?

July 18, 2019
Air Jordan II called “Jeter”

Air Jordan II called “Jeter”

Sotheby’s has been vigorously promoting an unusual online auction that was running from July 11- 23rd titled Stadium Goods: the Ultimate Sneaker Collection, comprised of over 100 rare pairs of sneakers made by Nike, Air Jordan, Adidas, and several other brands.  I was following the sale and assumed that on July 23rd we could give you the results, but I was really surprised and confused this morning when I checked to see how the bidding was going (yesterday only two pairs had bids). To my surprise, there was only one lot showing on their website… what happened to all the other lots?? Well, sorry to disappoint anyone expecting to swoop in on the last day of bidding to win their favorite pair – Sotheby’s just brokered a private sale for all but one lot!  The only remaining lot has the most historical significance and the owner was the only consignor to reject an offer from Miles Nadal, a Canadian entrepreneur, and investor, who purchased all the other lots.  Unfortunately, Sotheby’s has removed all the items from their web site so I can not give you many details on some of the sneakers included in the sale, although I do remember that included were:

Two pair of Nike ‘Mags” manufactured in 2011 (made famous from Back to the Future Part II – 1500 pairs were manufactured

A pair of Nike ‘Mags” with self-lacing technology (89 pairs were made).  I reported on the same style in July ’17 that made $52,500.

A pair of Air Jordan II called “Jeter” made in 2017 to commemorate Derek Jeter’s retirement from the Yankees

A pair of Adidas sneakers designed by Kayne West

A pair of Adidas created in collaboration with Chanel and singer Pharrell Williams

At this point, I cannot even tell you what the pre-sale auction estimate was for the other lots, but I can report that Nadal paid $850K for all the lots, which will go on display at his Dare to Dream Museum in Toronto.  As for the unsold sneakers, the lot will still be available on Sotheby’s until July 23rd (unless the consignor has a change of heart or Sotheby’s can broker another deal).  This lot features a pair of 1972 Nike Waffle Racing flat “Moon Shoes” designed by Nike co-founder, Bill Bowerman for the 1972 Olympic trials.  It is one of only 12 pairs made and is the only unworn pair.  Estimated to make $110 – 160K and bidding opens at $80K…no bids yet, but I will let you know how it ends up and if this pair is the overall winner of the race.