How much can a pair of sneakers be worth?
A few hundred or a few thousand are considered normal prices, and being fired to tens of thousands is already very expensive, but can you imagine that a pair of shoes can be worth a house?
In August last year, the Nike Air Jordan1 sneaker that Jordan wore when he dunked a rebound was auctioned for $610,000, becoming the sneaker with the highest transaction record in auction history.
Now, a pair of shoes may break this record.
In the few days from April 16th to 21st, at the Hong Kong Convention and Exhibition Center, a pair of sneakers on display attracted the attention of the world. This was the first pair of Nike Air Yeezy worn by Kanye West that year.
After being exhibited, the shoes will be auctioned at Sotheby’s auction house, and the transaction price is estimated to exceed $1 million.
According to Agence France-Presse, this pair of sneakers is owned by shoe collector Ryan Chang, and this auction is also a private auction, which means that the final transaction price and the buyer will not be disclosed unless the buyer and seller privately disclose it.
Why are these shoes so expensive?
It was at the 50th Grammy Awards in 2008. Kanye sang the two songs “Hey Mama” and “Stronger” in a black suit. He won eight nominations and won the “Best Rap” as he wished. “Album” (“Graduation”), “Best Rap Singer” (“Stronger”), “Best Rap Song” (“Good Life”), and “Best Rap Group” (He and Common (listening to the song) “Southside”) these four awards.
At that time, sharp-eyed fans immediately noticed the pair of shoes worn by Grandpa Kan, because it had never been on sale.
After that, fans looked forward to it, hoping to wear the same style of Kanye, but in the end these shoes were not sold on the market. Although it is a pity, this collaboration caused a sensation in the fashion industry because Nike previously only worked with athletes.
It can be said that this pair of Nike Air Yeezy redefines “what is an iconic shoe”, laid the cornerstone of today’s Yeezy shoe style, and has a great influence on the Yeezy brand, which is now over billions in size. It is also a trend culture. Important symbol.
Because this pair of shoes is too legendary, Sotheby’s even cooperated with the sneaker appraisal consultant Suede One to ensure the authenticity of this pair of sneakers with a valuation of more than one million dollars.
After that, in 2009 Kanye West cooperated with Nike to launch a limited edition Air Yeezy 1.
Because these shoes are too popular, in 2012, they once again jointly launched the Air Yeezy 2.
In 2013, Kanye West ended its partnership with Nike and invested in Adidas in 2014.
So far, Yeezy has become one of the hottest and most profitable fashion brands. According to an internal report by Bloomberg citing UBS bank, the Yeezy brand has generated nearly $1.7 billion in revenue in 2020 alone.
Just last month, multiple media reports stated that Kanye West is the richest black in the United States, with a net worth of US$6.6 billion.Previously, Bloomberg reported that the total value of his sneaker brand Yeezy plus Yeezy Gap, which has not yet sold a piece of clothing, is as high as $4.7 billion.
But according to “Forbes” (Forbes) in the latest announcement, Robert F. Smith, who is worth $6 billion, is still the richest black American man, and “Forbes” gave Kanye West a “valuation” of $1.8 billion.
Among them, the business of Yeezy and Adidas under Kanye West is worth 1.5 billion U.S. dollars, and other assets such as cash, real estate and vehicles are worth 160 million U.S. dollars. His songs can bring millions of royalties and a valuation of 90 million U.S. dollars each year. The ex-wife Kim Kardashian’s company Skimms has a small share in the company and is valued at $64 million.
In addition, “Forbes” also stated that although Kanye West’s team insists that the Yeezy x Gap transaction is worth about $1.5 billion, Forbes will not give any value until the product is sold, so the valuation is $0.
Although there is still a long way to go before becoming the richest black man, it has to be said that this hip-hop superstar has made a lot of money from his sideline business of clothing and shoes in full swing.
Kanye West’s influence is really great. The ordinary Air Yeezy currently on the market has sky-high prices, not to mention the numerous iconic “first pairs”.
Recently, it has been reported that Kanye is planning to release a documentary of his own. Although there is no further news, and even the title has not been decided, Netflix has already announced that it will purchase the copyright for 30 million US dollars. Lord’s influence.
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