Investor Drops Almost $1 Million on Sneakers at Sothebys

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Vis episode of Business Wars daily is brought to you by sent pro online from pitney bowes shipping and mailing from your desk is never been simpler than with sent pro online from Pitney Bowes. Try It free for thirty days and get a free ten pounds scale. When you visit http dot com slash B W daily Uh Brom wondering I'm David Brown and this is business wars daily happy Monday my friends talk about a way to boost your brand? Sotheby's the high auction house this month auctioned off one hundred pairs of rare sneakers from Nike Adidas and other major sneaker makers this auction positioned athletic shoes as art objects and it began on July eleven it was supposed to continue through tomorrow July twenty third but a funny thing happened on the way to that date. Most of the air went out of the room when Canadian businessman bought ninety nine of the one hundred pairs for a total of eight hundred fifty thousand dollars at production time. Only one pair was still available a pair of Nike waffle flat. Latin moon racing shoes made by hand back in Nineteen seventy-two got an extra eighty thousand dollars to spare well. That's the starting bid but the pair was expected to fetch up to one hundred sixty thousand dollars Nike Co founder Bill Bauer men is set with designed the shoe using a waffle iron to imprint the tread by hand. The company made only a dozen pairs for runners at the nineteen seventy-two Olympic trials the B._B._c. reports that the parents Sotheby's is the only one believed to be unwarranted so what treaded treasures did miles at all make off with for his eight hundred fifty thousand dollars at all scooped up such iconic kick says the Nike Mags. That's the self lacing sneakers like those in the nineteen eighty-nine movie back to the future to that pair one of only only eighty nine ever made came with a starting bid of forty thousand dollars also among the collectibles Nidal now owns a rare pair of yee's Kanye West's line for Adidas and a pair of limited edition Air Jordan for sneakers sneakers code designed with EMINEM. The collection came from online street wear and sneaker consignment Shop Stadium Goods Stadium goods existence alone shows just how elevated sneakers and street wear have become never mind the fact that Sotheby's exhibited these sneakers and. Museum cases like historic artifacts are diamonds. According to vox designer sneakers now considered legitimate luxury goods coveted by the same wealthy shoppers who dropped thousands on haute couture for Adidas Nike the auction served highlight the he ever increasing status of sneakers especially limited edition pairs and shoes designed for specific teams and for celebrities like the Air Jordans designed for Karl Lagerfeld it also highlighted Nike in particular which appeared to be over represented presented in the collection outside of the money that miss fear of the auction house Nike has long driven up prices on Air Jordan's by releasing limited edition highly designed sneakers Adidas got in the game with drops of Kanye West's easies which can cost cost upwards of five thousand dollars and that's for a new pair neither Air Jordans nor yeezy are truly built for performance but rather for style and Flare Collector Miles Nidal says he's enamored with objects of popular culture. He told C._N._B._C. C._N._B._C. that he plans to show the sneakers at his dare to Dream Automobile Museum in Toronto where he has a collection of one hundred forty two cars and forty motorcycles sure Nidal spent a lot of money for a whole bunch shoes but he doesn't hold. All the record for spending on collectible sneakers know that record was set two years ago by a bitter who paid one hundred ninety thousand dollars for a pair of signed converse shoes that Pricey pairs said we've been worn by Michael Jordan Jordan in the nineteen eighty-four Olympic basketball final according to Reuters that the record is held by converse not knock your adidas goes to show that as powerful as those two brands are they still can't win the hearts or the feet of every sneaker lover out there and it shows that rarity no matter the object drives up both desire and prices which means the Sotheby's auction was nothing but good for Nike and Adidas and they didn't have to lift a finger or tie a single she lies from laundry this business wars daily. Hey listen to our show. Take a second give his five star rating when apple podcasts. Would you better yet leave a review. Thanks so much I'm David Brown and we'll be back with Tamar. This episode is brought to you by central online from Pitney Bowes Shipping and mailing from your desk. Ask has never been simpler than with sent pro online from pitney bowes with simple online is just click sand and save for his lowest four dollars ninety nine cents. That's right four dollars. Ninety nine cents a month send envelopes.

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