Last week, Canadian entrepreneur and collector Miles Spencer Nadal snapped up 99 of world’s 100 rarest sneakers offered at Sotheby’s online auction Ultimate Sneaker Collection. Yesterday, he completed the whole collection with his latest acquisition of a pair of 1972 Nike Waffle Racing Flat "Moon Shoe", which sold for US$437,500, a new world auction record for a pair of sneakers.
Bill Bowerman, Nike's co-funder designed the Nike "Moon Shoe"
The Nike “Moon Shoe” is one of the most significant artifacts in Nike's long history. It was designed by Nike's co-founder and Oregon University track coach Bill Bowerman in 1969. He created this waffle sole traction pattern by experimenting with this wife’s waffle iron by pouring rubber into the mold. This became the brand’s prototype and the waffle sole became its first of many innovations.
Only about 12 were created, even fewer exist today. The present lot is the only known pair to exist in unworn condition. The pair, estimated at US$110,000-160,000, was originally planned to be sold alongside other 99 pairs of shoes at the online auction.
Last week, Miles Nadal, the founder and Executive Chairman of Canadian private equity firm Peerage Capital, bought 99 pairs from the entire collection, except the 1972 Nike Moon Shoes since Sotheby's and Stadium Good preferred to keep the property available in public auction. He managed to complete the collection by becoming the top bidder for the auction of Nike "Moon Shoe".
A pair of Converse worn (and signed) by Michael Jordan was the most expensive pair of sneakers
The pair of Nike "Moon Shoe" was sold for US$437,500, far surpassing the previous world auction record for a pair of sneakers, which was held by a pair of Converse worn (and signed) by Michael Jordan in the 1984 Olympic basketball final. The pair was sold in 2017 for US$190,373.
Nadal plans to display the sneaker collection at his 94,000-square-foot Dare to Dream Automobile Museum in Toronto Canada, alongside his extensive collection of classic cars.
Nike Waffle Racing Flat Moon Shoe
Estimate: US$110,000 - 160,000
Price realised: US$437,500
Auction House: Sotheby's New York
Sale: Stadium Goods: The Ultimate Sneaker Collection Online
Sale Date closes: 24 July 2019 | 2am (Hong Kong & Taipei time)