Earlier this month, the Zee reported that a pair of Kanye West’s prototype Nike Yeezy sneakers was up for auction for a staggering price. Well, for those who had their money ready, it is too late. Auction house, Sotheby’s, announced on Monday that the expensive sneakers sold for a whopping $1.8 million US!
The prototype Yeezys are now the most expensive sneakers to be sold.
The sneakers were acquired by RARES, an investing platform that allows users to buy and trade shares in limited edition and highly sought-after sneakers. They paid the highest publicly recorded price for the pair. RARES is a leader in fractional ownership, allowing users to invest in sneakers by buying and trading shares in them.
CEO and co-founder of RARES, Gerome Sapp, said in a press statement that purchasing the sneakers was akin to buying “a piece of history”. “Our goal in purchasing such an iconic shoe – and a piece of history – is to increase accessibility and empower the communities that birthed sneaker culture with the tools to gain financial freedom through RARES,” said Gerome Sapp.
They were put up for sale at Sotheby’s by New York collector Ryan Chang.
West wore them for his emotional performances of “Hey Mama” and “Stronger” at the 2008 Grammy Awards, setting off social media frenzy among fashionistas.
West ended his collaboration with Nike in 2013 before taking the brand to Adidas. His Yeezy empire brought in an estimated $1.7 billion in sales in 2020, according to Forbes.