The Nike Moon shoe which is the first shoe made under the Nike name was auctioned for a shocking and record-breaking $$437,500.
According to the report by BBC, the 1972 Nike Waffle Racing Flat Moon Shoe was expected to fetch $160,000. But Canadian collector, Miles Nadal paid almost three-times that, having already forked out $850,000 for the other 99 pairs in the auction.
The Nike Waffle Moon Shoes were designed by Bill Bowerman, a track coach who co-founded Nike and just 12 pairs were hand-made, with a number being handed out to runners at the 1972 Olympic trials, and the pair being auctioned is thought to be the only one not to be worn.
Noah Wunsch, Sotheby’s global head of e-commerce, said Mr Bowerman used a waffle iron to imprint the tread on the shoes.
The new owner of the shoes, Mr Nadal – who founded an investment firm, Peerage Capital said he was thrilled at his purchase, calling the Moon Shoe a “true historical artefact in sports history and pop culture”.
“I think sneaker culture and collecting is on the verge of a breakout moment,” he added, saying he plans to display them, along with the other 99 pairs he bought last week, at his private automobile museum in Toronto.