In 2017, a pair of Michael Jordan’s shoes were sold for $190,373 (approx Rs 1.3 crore) at an auction. Jordan wore them in the Flu Game, officially known as Game 5 of the 1997 NBA Finals. In July 2019, this record was broken when Canadian entrepreneur and collector, Miles Nadal, bought a rare pair of Nike sneakers at a Sotheby’s auction for an impressive $437,500 (Rs 3 crore). The shoes in question were the 1972 Nike Waffle Racing Flat, best known as the Moon Shoes.
The Moon Shoes were designed by Nike co-founder and track coach Bill Bowerman for runners at the 1972 Olympic trials. According to a report by Reuters, Sotheby’s said the price was a world auction record for a pair of sneakers. This is not the first time that Miles Nadal has invested in shoes. He had previously paid $850,000 (Rs 5,87,10,775) for 99 other pairs of rare or limited collection sneakers offered by Sotheby’s.
What makes The Moon Shoes special? With only 12 pairs ever made, they qualify as 'limited edition'. Additionally, they are handmade with a waffle sole pattern.
Nadal, the founder of investment firm Peerage Capital, said, “I think sneaker culture and collecting is on the verge of a breakout moment." He plans to display this pair, along with the 99 other pairs he owns, at his private automobile museum in Toronto.
Currently, Nadal has the 2011 and 2016 versions of the Back to the Future Part II limited edition sneakers by Nike that were inspired by the 1989 film starring Michael J. Fox; Air Jordan; and rapper Kanye West’s Adidas Yeezy collection, and also Adidas' limited-edition sneakers.