Nike Air Yeezys Sell for $1.8 Million, Setting New Record
Here is the most expensive sneaker ever sold, which broke the record at Sotheby's famous auction and is the first Nike Air Yeezy 1-1 sneaker designed and worn by American singer Kanye West on stage during the Grammy Awards concert Year 2008. It was sold at a price of $ 1.8 million, which is a fabulous amount, 3 times the previous record for the “Nike Air Jordan 1” shoe, for $ 615,000 during an auction organized by “Christie’s” in August 2020, and the shoe exceeded its original value of $ 615,000. $1 million, and the highest ever publicly recorded price of any pair of sneakers. The black Nike Air Yeezy sneaker was the first to be launched by West's owned Yeezy brand, and it caused a stir in the fashion world when he wore it during the show at the time. Previously, Nike had only teamed up with athletes and West's shoe was a major breach for the American brand. The Air Yeezy 1 collection was launched in a limited edition in 2009, followed by the Air Yeezy 2 in 2012. The following year, West ended his partnership with Nike. Considering that its share of the revenue was insufficient, Nike continued to do business with Adidas in 2014. That partnership was a huge commercial success, generating nearly $1.7 billion in revenue in 2020, according to an internal UBS memo that cited The Kanye West size 12 shoe is acquired by RARES, an investment platform that allows users to invest in highly sought-after athletic shoes. Buying the shoes featured during the Grammy Awards was like buying a "piece of history," RARES CEO and co-founder Jerome Sapp said in a press release. "Our goal with purchasing such an iconic shoe is to increase accessibility and empower the communities that have created the sneaker culture with tools to gain financial freedom through the Rareers platform," said Sapper. The sale "sheds a lot of light on Kanye's legacy as one of the most influential sneaker designers of our time."