Have $1 million to spend on sneakers? Miles Spencer Nadal does, and he just spent nearly that today on a collection curated by Sotheby’s and Stadium Goods.
Sotheby’s announced today that Nadal — who is a car collector and entrepreneur, among other things — acquired 99 of the 100 pairs, originally intended for an auction ending July 23, for $850,000. Stadium Goods is calling the shoes, which were selected from its “Trophy Case,” some of the “rarest sneakers ever produced.”
The looks, according to the secondary marketplace giant, span 15 years and include sought-after Nikes, Air Jordans, Yeezys and more.
“I have always been an avid enthusiast and appreciator of unique art and collectibles that represent innovative design, exceptional craftsmanship and new and exciting trends in pop culture,” Nadal said in a statement. “Acquiring such a range of contemporary classics is a unique opportunity to build a substantial sneaker collection of iconic proportions.”
According to a Sotheby’s statement, rather than acquire all of the sneakers, Nadal wanted to keep the 1972 Nike Waffle Racing Flat “Moon Shoe” available for private auction. The bidding is still open on the shoe until July 23, which is estimated to sell for $110,000 to $160,000.
Although the purchase has been made, the sneakers will remain on display for public viewing at Sotheby’s New York until July 23.
“Mr. Nadal’s obvious connoisseurship for fine design affirms the broad-based quality of the items we were able to put together with Sotheby’s, and we’re thrilled that Mr. Nadal is planning to present the sneakers together,” Stadium Goods co-founder and co-CEO John McPheters said in a statement. “This represents a key moment both for sneaker collecting and sneaker culture overall.”
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