In big news for the sneaker world, more than 200 pairs of designer sneakers have been sold at auction for an incredible $25.3 million - more than eight times the somewhat conservative initial estimate of $3 million!
The sneaks went under the hammer at Sotheby’s in February, but what makes them so special and why were they in such high demand? Well, they were designed by none other than the late American fashion designer Virgil Abloh… which should tell you all you need to know!
The special edition Louis Vuitton and Nike Air Force 1 shoes were designed by Abloh for the Louis Vuitton Spring-Summer 2022 collection, CNN reports. Certainly an exciting investment for fashion enthusiasts, with a Sotheby’s representative saying that the collection had secured a “record auction total” for fashion auctions!
Virgil Abloh was the artistic director for Louis Vuitton Menswear and the fashion house’s first black artistic director. Abloh died in November 2021 at the age of 41 after a two-year battle with cancer.
In a philanthropic move, all proceeds from the sale will go to the Virgil Abloh Post-Modern Scholarship Fund to help students of black, African-American and African descent.
Sotheby’s chief executive Charles Stewart said of Abloh: “[He] was one of the most visionary artists and designers of his generation whose widespread influence and impact is still palpable.”
The sneakers sold at Sotheby’s ranged in size from 5 to 18, with the size 5 shoe coming top in sales at $325,800 (£240,375)! In all, a total of 10,000 bids were made, with 40 per cent of total interest hailing from Asia.
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