Limited edition 1972 Nike Moon Shoe sells for $437,500

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A pair of 1972 Nike Waffle Flat Moon Shoe has fetched a world record $ 437,500 (₹ 3 crores) at Sotheby’s and Stadium Goods online auction.

Collector Miles Nadal who had acquired all but one of the 100 pairs in a private sale on Wednesday last for $ 850,000, returned on Tuesday to take the last one – “Moon Shoe” – for a value that was more than 50% of the entire first lot of 99 pairs and for  times higher than the previous world auction record for a pair of shoes.

Nadal will display the collection at his private museum.

Nike had originally created “Moon Shoe” for runners at the 1972 Olympic Trials. Each of the 10-odd pairs was hand-cobbled by one of Nike’s earliest employees Geoff Hollister. The shoes are made of nylon and sewn together with fishing line. The outsoles – shaped with waffle irons – are in two pieces as there was no better technology available then.

Sotheby’s and Stadium Goods have announced that 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 in multiples of their pre-sale high estimate of $160,000.

Nadal purchased the pair in an online-only auction, following his acquisition of 99 of 100 of the rarest sneakers ever produced.

Stadium Goods, premier sneaker and streetwear marketplace, had 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.

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Nadal had originally presented an offer to acquire the entire collection of 100 pairs. However Sotheby’s and Stadium Goods then elected to keep the pair available in public auction. Nadal could thus acquire only 99 pairs last week and the 1972 Nike Waffle Racing Flat “Moon Shoe’’ remained open for bidding in an online-only auction.

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

“I am thrilled to acquire the iconic Nike ‘Moon Shoes,’ one of the rarest pairs of sneakers ever produced, and a true historical artefact 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,” said Nadal.

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.”

Nadal’s automobile collection includes 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, Nadal’s precious possession also features a substantial collection of automobile and racing artefacts, collectibles, and antiques.

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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, he 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 bimolecular research.

Through this array of charitable outreach, 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 artefacts 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 mould 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.

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