Kanye's Yeezy sneakers snag world record $1.8 million in private sale - Sotheby's
Kanye's Yeezy sneakers snag world record $1.8 million in private sale - Sotheby's
NEW YORK (Reuters) - The Kanye West sneakers that sent athletic shoes strutting down fashion runways sold for $1.8 million, a new world record price for a pair of sneakers, Sotheby s announced on Monday.
The American rapper s 2008 Grammy Worn Nike Air Yeezy samples were prototypes for a line developed by West and Mark Smith for Nike. They were revealed during West s performance at the 2008 Grammy Awards.
The buyer was sneaker investing platform RARES, which paid the highest publicly recorded price for the pair. RARES is a leader in fractional ownership, allowing users to invest in sneakers by buying and trading shares in them.
The private sale shattered the current auction record for sneakers, far above the $560,000 that Sotheby s scored in May 2020 for a pair of 1985 Air Jordan 1 s, designed for and worn by basketball player Michael Jordan.
The black leather, size 12 Nike Air Yeezy 1 Prototypes have a Yeezy forefoot strap and the brand s signature Y medallion lace locks in pink.
They were put up for sale at Sotheby s by New York collector Ryan Chang.
West wore them for his emotional performances of "Hey Mama" and "Stronger" at the 2008 Grammy Awards, setting off a social media frenzy among fashionistas.
West ended his collaboration with Nike in 2013 and took the brand to Adidas, where the Yeezy brand of sneakers brought in an estimated $1.7 billion in sales in 2020, according to Forbes.
"Our goal in purchasing such an iconic shoe - and a piece of history - is to increase accessibility and empower the communities that birthed sneaker culture with the tools to gain financial freedom through RARES," said Gerome Sapp, RARES co-founder and CEO.
Brahm Wachter, Sotheby s head of streetwear and modern collectables, said, "The sale speaks volumes of Kanye s legacy as one of the most influential clothing and sneaker designers of our time."
