Sotheby’s famous auction house has sold 200 pairs of sneakers designed by the late Virgil Abloh for a “record-breaking” total of $25.3 million. Insiders say the final sale price is 8 times more than the initial $3 million estimates.
The special edition sneaker is a collaborative effort from Louis Vuitton and Nike. The “Air Force 1” sneakers were designed for the Louis Vuitton Spring-Summer 2022 collection.
Sotheby’s said the auction was the first time the sneakers were released for sale. A spokesperson said the collection secured “record auction total” for fashion.
Sotheby also revealed the demographic of the bidders for the exclusive collection of sneakers. Of the 10,000 bids received – 40% came from bidders in Asia. In contrast, 70% of bidders were under 40 years old.
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