Rare old Nike shoes sold for hundreds of thousands of dollars

A pair 1972 Nike company running shoes sold for a record $437,500 in an audience auction Tuesday.

The so-called Nike “Moon Shoe” was one of the first Nike shoes. They were designed for runners during the 1972 Olympic trials.

The sale took place at Sotheby’s auction house in New York. Officials said the price set a new record for a pair of sneakers. Canadian investor and car collector Miles Nadal bought the shoes. Nadal paid $850,000 last week for another 99 pairs of rare or limited-edition sneakers that Sotheby’s was offering.

Prior to Tuesday, the highest price at public auction for sneakers was $190,373 in California in 2017. That was for a pair of signature Converse shoes that basketball star Michael Jordan reportedly wore during the 1984 Olympic final, Sotheby’s said.

Sotheby’s is best known for selling artwork for tens of millions of dollars. But he worked with streetwear marketplace Stadium Goods to auction off 100 of the rarest sneakers ever produced.

The handmade “Moon Shoe” was one of only 12 pairs ever made. The pair sold on Tuesday are the only known to exist in unworn condition, Sotheby’s said.

Nadal expressed his enthusiasm for his purchase. He called the “Moon Shoe” a “true historic artifact in sports history and pop culture.

He said he planned to show them, along with his other 99 newly purchased shoes, at his private auto center in Toronto.

Noah Wunsch is head of international e-commerce at Sotheby’s. He said the sneaker auction brought together art, culture and fashion.

“We are eager to see where this sale takes us, not only in future sneaker offerings, but also in other new releases luxury lifestyle areas,” Wunsch said.

I am Kelly Jean Kelly.

Reuters reported this story. Caty Weaver adapted it for VOA Learning English. Ashley Thompson was the editor.

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words in this story

pair nm two similar things designed to be used together

auction nm a property sale to the highest bidder

sneakers nm a sports shoe with a flexible rubber sole

artifact nm something characteristic of or resulting from a particular human institution, period, trend, or individual

eager adj. marked by enthusiastic or impatient desire or interest

luxury nm a condition of abundance or great ease and comfort