Rare sneaker collection bought at auction for $850,000

NEW YORK-Sotheby’s first-ever sneaker auction isn’t scheduled to end until July 23, but it’s already a success. That’s because one man has bought 99 of the 100 exceedingly rare shoes that were up for bidding, for a grand total of $850,000. The new owner of the shoes, Sotheby’s says, is Miles Nadal, an entrepreneur and collector of classic cars. Nadal started the marketing and communications firm MDC Partners Inc., but stepped down in 2015 amid an investigation by the US Securities and Exchange Commission into his expenses, the company’s accounting practices, and trading of the company’s securities by third parties. He then founded the investment firm Peerage Capital, where he currently serves as CEO and is involved in a number of philanthropic efforts. The self-lacing Nike Mag, first imagined for the movie “Back to the Future 2.” Among the shoes Nadal bought were Jordans made for friends and family of brand partners and never released to the public, a pair of Adidas NMDs created exclusively as a gift for late designer Karl Lagerfeld as part of a collaboration between Chanel and singer Pharrell, and the 2016 self-lacing Nike Mags originally inspired by the futuristic Nikes in Back to the Future Part II. There were also complete sets of all the Yeezy 350 V2s, and all the shoes from Nike’s “The Ten” collaboration with designer Virgil Abloh.

ePaper - Nawaiwaqt