Sotheby’s and Stadium Goods have announced that collector Miles Nadal has acquired the 1972 Nike Waffle Racing Flat ‘Moon Shoe’ for $437,500 – more than four times the previous world auction record for any pair of sneakers, and multiples of their pre-sale high estimate of $160,000.
Mr. Nadal purchased the pair in an online-only auction, following his acquisition of 99 of 100 of the rarest sneakers ever produced in a private sale for $850,000 last Wednesday.
Stadium Goods – the world’s premier sneaker and streetwear marketplace – curated a selection of the most prized footwear from their famed Trophy Case – the most exclusive and coveted sneakers ever produced by Nike, Air Jordan, Adidas, Yeezy and more, spanning over 15 years of the most sought-after, limited edition drops in sneaker history.
International entrepreneur and collector Miles Spencer Nadal originally presented an offer to acquire the entire collection of 100 pairs, however Sotheby’s and Stadium Goods elected to keep the pair available in public auction.
As a result, Mr. Nadal acquired 99 pairs last week in a private sale, and the 1972 Nike Waffle Racing Flat ‘Moon Shoe’ remained open for bidding until today in an online-only auction as originally scheduled.
An avid car collector, entrepreneur, industrialist and philanthropist, Mr. Nadal plans to display the sneaker collection at his Dare to Dream Automobile Museum in Toronto, Canada – a private museum featuring an extensive collection of classic cars.
Mr. Nadal plans to share the collection with friends, family and charitable organizations, upon request.
Noah Wunsch, Sotheby’s Global Head of eCommerce, commented: “We are excited the iconic Nike Moon Shoe achieved more than double the previous world auction record for a sneaker today.
“The success of Sotheby’s & Stadium Goods Ultimate Sneaker Collection sale is a testament to the strength of this burgeoning collecting category. We’re thrilled that all 100 pairs of this exceptional selection of rare sneakers will remain together with Miles in his private museum.
“To partner with Stadium Goods, the world’s premier sneaker marketplace at the forefront of the culture, on Sotheby’s very first sneaker sale— which was 100% sold! – is an amazing thrill.
“We are eager to see where this sale takes us, not only in future sneaker offerings, but also in other new luxury lifestyle areas.”
John McPheters, Stadium Goods co-founder and co-CEO, said: “We’re extremely pleased that the Moon Shoe ended up in the hands of a collector who has the intention of preserving and displaying this incredible piece of sneaker history, and sharing it with the world.”
Miles Spencer Nadal, Collector, expressed: “I am thrilled to acquire the iconic Nike ‘Moon Shoes,’ one of the rarest pairs of sneakers ever produced, and a true historical artefact in sports history and pop culture.
“When I initially acquired the 99 other pairs in this auction last week, I just knew the Nike’s had to remain part of this remarkable collection, and I couldn’t be happier with the result. “I think sneaker culture and collecting is on the verge of a breakout moment, and I hope Sotheby’s and Stadium Goods will continue to lead the way in this exciting new future.”