Rare sneakers become a new trend on the auction floor

Last April, a person spent $ 1.8 million to buy a pair of Nike Air Yeezy 1s shoes that were worn by Kanye West at an auction.
According to the South China Morning Post Sotheby’s, the famous auction house, is now promoting the development of rare shoes to attract the interest of young customers around the world.

They have innovation from auction item to auction format. They not only put on the auction floor items such as jewelry, antiques, fine art… as before. In addition, traditional auctions have also been replaced by online auctions due to the impact of the Covid-19 epidemic. Sotheby’s also said that young people are attracted to auctions of classic products, with unique designs and meaningful stories behind. Rare sneakers become hot items at auctions. Photo: Fabrice Coffrini/AFP. Last April, the company successfully auctioned Nike Air Yeezy 1s shoes once worn by Kanye West for $ 1.8 million. This is three times the previous auction record in the sneaker segment. Not stopping there, Sotheby’s continues to put on the auction floor more valuable sneaker collections. Typically, 13 pairs of basketball shoes have been worn by the greatest athletes in history NBA brought in the match, including Michael Jordan and Kareem Abdul-Jabbar. Josh Pullan, managing director of Sotheby’s luxury goods division, said sneaker shoppers are typically 20-40 years old, younger than regular auction customers. “What’s also really exciting is that over 50% of the buyers and bidders at sneaker auctions are new Sotheby’s customers. So we found this to be a great item to attract new customers to “, he commented. Kanye West’s Nike Air Yeezy 1 shoes were purchased for $1.8 million. Photo: SCMP. The record for the price of sneakers is constantly being broken. Collecting rare sneakers is no longer a small hobby as it was 10 years ago. Many top collectors have appeared and are not afraid to spend large amounts of money to own “one-of-a-kind” shoes. Sotheby’s auction house appreciates the growth potential of the sneaker market. In particular, the Air Jordan 1s are the hottest. Many designs can be auctioned for about 110,000-164,000 USD. In addition, their value increases even more if they are used by famous artists and athletes.