Press Release  July 30, 2019

Sotheby's Breaks Record for Highest Price for a Sneaker at Auction


Nike Waffle Racing Flat "Moon Shoe"

NEW YORK – Sotheby’s and Stadium Goods are pleased to announce that collector Miles Nadal has acquired the 1972 Nike Waffle Racing Flat ‘Moon Shoe’ for $437,500–more than four times the previous world auction record for any pair of sneakers, and multiples of their pre-sale high estimate of $160,000. (The previous world auction record for any pair of sneakers was $190,373, for a pair of signed Converse worn by Michael Jordan in the 1984 Olympic basketball final sold in 2017.)

Mr. Nadal purchased the pair in an online-only auction today, following his acquisition of 99 of 100 of the rarest sneakers ever produced in a private sale for $850,000 last Wednesday.

Stadium Goods–the world’s premier sneaker and streetwear marketplace–curated a selection of the most prized footwear from their famed Trophy Case - the most exclusive and coveted sneakers ever produced by Nike, Air Jordan, Adidas, Yeezy and more, spanning over 15 years of the most sought-after, limited-edition drops in sneaker history.

International entrepreneur and collector Miles Spencer Nadal originally presented an offer to acquire the entire collection of 100 pairs, however Sotheby’s and Stadium Goods elected to keep the pair available in public auction. As a result, Mr. Nadal acquired 99 pairs last week in a private sale, and the 1972 Nike Waffle Racing Flat ‘Moon Shoe’ remained open for bidding until today in an online-only auction as originally scheduled.

Courtesy Sotheby's

Air Jordan 5 Tokyo 23

An avid car collector, entrepreneur, industrialist and philanthropist, Mr. Nadal plans to display the sneaker collection at his Dare to Dream Automobile Museum in Toronto, Canada–a private museum featuring an extensive collection of classic cars. Mr. Nadal plans to share the collection with friends, family and charitable organizations, upon request.

Noah Wunsch, Sotheby’s Global Head of eCommerce, commented: “We are excited the iconic Nike Moon Shoe achieved more than double the previous world auction record for a sneaker today. The success of Sotheby’s & Stadium Goods Ultimate Sneaker Collection sale is a testament to the strength of this burgeoning collecting category. We’re thrilled that all 100 pairs of this exceptional selection of rare sneakers will remain together with Miles in his private museum. To partner with Stadium Goods, the world’s premier sneaker marketplace at the forefront of the culture, on Sotheby’s very first sneaker sale—which was 100% sold! – is an amazing thrill. We are eager to see where this sale takes us, not only in future sneaker offerings, but also in other new luxury lifestyle areas.”

John McPheters, Stadium Goods co-founder and co-CEO, said: “We’re extremely pleased that the Moon Shoe ended up in the hands of a collector who has the intention of preserving and displaying this incredible piece of sneaker history, and sharing it with the world.”

Miles Spencer Nadal, Collector, expressed: “I am thrilled to acquire the iconic Nike ‘Moon Shoes,’ one of the rarest pairs of sneakers ever produced, and a true historical artifact in sports history and pop culture. When I initially acquired the 99 other pairs in this auction last week, I just knew the Nike’s had to remain part of this remarkable collection, and I couldn’t be happier with the result. I think sneaker culture and collecting is on the verge of a breakout moment, and I hope Sotheby’s and Stadium Goods will continue to lead the way in this exciting new future.”

A passionate car collector and enthusiast, Mr. Nadal has acquired over 142 cars and 40 motorcycles which comprise the Dare to Dream Classic Car collection. The collection ranges from the first motorized car in 1886 – The Karl Benz Motorwagen – to the 1955 Mercedes Benz 300 SL Gullwing, to most of the modern-day Super Cars. Housed in a private, 94,000 square foot facility at the Dare to Dream Automobile Museum in Toronto, the museum also features a substantial collection of automobile and racing artifacts, collectibles, and antiques.

Mr. Nadal is the Founder and Executive Chairman of Peerage Capital, a leading North American business services and private investment firm with over $8 billion of assets under management and 1,500 employees. The firm’s business encompasses real estate, real estate services, asset management, and financial services. Throughout his 39-year business career, Mr. Nadal has created $6 billion of enterprise value across a variety of industries and organizations.

He is also the founder of Dare to Dream, a multi-faceted philanthropic initiative whose mission is focused on supporting community-based organizations, healthcare research and fundraising, child welfare facilities, and higher education development, from executive management leadership to biomolecular research. Through this array of charitable outreach, Mr. Nadal has spearheaded numerous projects, including providing the keystone gift to the Jewish Community Centre in Toronto to re-vitalize the facility as an inclusive community hub for all residents, now named the Miles Nadal Jewish Community Centre; providing three decades of involvement as a director, fundraiser and donor for Mount Sinai Hospital, culminating in a major donation to create the Miles Nadal Family Heart Centre in 2015, as well as being a substantial contributor to Harlem RBI and the Damon Runyon Cancer Research Foundation; aiding the Global Medical Relief Fund in building a facility in Staten Island, New York, to care for childhood victims of war and disasters; and providing generous support in establishing world-class education facilities, such as the Miles S. Nadal Management Centre for York University’s Schulich School of Business and a molecular genetics research laboratory at The Weizmann Institute of Science in Israel.

The Nike “Moon Shoe” is one of the most significant artifacts in the history of the multi-billion dollar athletic brand. One of only a handful of pairs known to exist, the present pair is a handmade running shoe designed by Nike co-founder and legendary Oregon University track coach Bill Bowerman. As the famous story goes, Bowerman was first inspired to create the innovative waffle sole traction pattern found on the brand’s early running shoes by tinkering with his wife’s waffle iron and pouring rubber into the mold to create the first prototype of the sole. Made for runners at the 1972 Olympic Trials, only about 12 pairs of the Moon Shoes were created, with even fewer still remaining today. The sneaker is the only pair known to exist in unworn condition.


Courtesy of Sotheby’s

Air Jordan 11 ‘Derek Jeter’

To commemorate legendary New York Yankee short stop Derek Jeter’s retirement in 2017, Jordan Brand produced only five pairs of the Air Jordan 11 – one of the rarest Air Jordan 11s releases of all time. Each were released via a scratch-off lottery system at a pop-up shop near Yankee Stadium on the day of his retirement ceremony. The colorway is constructed in a premium navy suede upper with Jeter's famed #2 embroidered on each heel in white.

Created by rapper Pharrell Williams in collaboration with Adidas and famed fashion house Chanel, the ultra-rare adidas NMD Hu TR was released only at a special Chanel pop-up shop at Colette in Paris in extremely limited quantities. Featuring a modified design that replaces “Chanel” across the top of the right shoe with “Karl”, this pair was given exclusively to Karl Lagerfeld as a gift  from Pharrell. This “Karl” edition is thought to be the only pair in existence.

Courtesy Sotheby's

Nike MAG "Back To the Future 2016"

2011 AND 2016 - NIKE MAGS
Worn by Marty McFly in Back to the Future Part II, the once-fictional sneaker was released by Nike in 2011, following petitions from fans to create the mythical design. With only 1,500 pairs made, the limited edition shoe was one of the most significant sneaker releases in history. Exclusively offered at auction that year to benefit the Michael J. Fox Foundation for Parkinson’s Research, each pair of original Nike Mags fetched thousands of dollars. While the 2011 version did not include the self-lacing technology as seen in the movie, it included light-up features on the strap, heel and midsole.

In 2016, Nike perfected real power lacing technology, and released the Mag once again – also sold to benefit the Michael J. Fox Foundation for Parkinson’s Research (pictured left). With only 89 pairs produced, the self-lacing version was much more limited than the 2011 release and even more special due to the power-lacing feature and extreme rarity.

Designed by multi-platinum rapper Travis Scott, this collection features some of the most soughtafter sneakers in recent years, including four unreleased ‘Friends and Family’ versions of Scott’s Air Jordan 4 “Cactus Jack” design. The group is comprised of the highly coveted purple suede edition, two versions of the “Mocha” colorway; and a preliminary version of the blue colorway without the speckled detailing on the plastic lacing and heal tabs of the version released at retail. The group of unreleased ‘Friends and Family’ versions also included an original retail version, for a total of five highly sought-after items. 

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