200 pairs of the Louis Vuitton and Nike Air Force 1 sneakers created by late American designer Virgil Abloh were sold for a record $25m at an auction held by auction house, Sotheby’s.
Reports are that the sneakers had secured “a record auction total” for fashion.
The sums greatly exceed the initial estimates of Sotheby’s, which had started the bidding at $2,000 per pair and had predicted they would sell for between $5,000 and $15,000 each.
In the end, the sneakers, which ranged in size from 5 to 18, averaged more than $100,000 per shoe. The cheapest sold for just over $75,000.
The special edition Louis Vuitton and Nike “Air Force 1” sneakers were designed for the Louis Vuitton Spring-Summer 2022, Sotheby’s said in a press release.
They were created to celebrate the 40th anniversary of the Nike Air Force 1, which was designed in 1982.
Proceeds from the sale will benefit a scholarship fund set up by Virgil Abloh that supports aspiring designers of Black, African-American, or African descent.
Abloh died in November at the age of 41 after privately battling a rare form of cancer for two years.
