Home World News Kanye's Yeezy sneakers hit a record $ 1.8 million in private sale...

Kanye’s Yeezy sneakers hit a record $ 1.8 million in private sale | Economic and business news


A pair of Kanye West’s ‘Grammy Worn’ black Nike Air Yeezy 1 prototype sneakers hit a record $ 1.8 million in a private sale, Sotheby’s announced on Monday.

Sotheby’s announced on Monday, Sotheby’s announced the Kanye West sneakers that bring the fashion catwalk sneakers to sell for $ 1.8 million, a new world record price for a pair of sports shoes.

The American rapper’s 2008 Nike Air Yeezy “Grammy Worn” is a prototype for a line developed by West and Mark Smith for Nike. They were revealed during West’s gig at the 2008 Grammy Awards.

The buyer was the sports shoe investment platform RARES, which paid the highest public price recorded for this shoe. RARES is a leader in proportional ownership, allowing users to invest in sneakers by buying and trading stakes in them.

The private sale broke current auction records for sneakers, well beyond the $ 560,000 mark Sotheby’s scored in May 2020 for a 1985 Air Jordan 1 pair, designed and worn by a basketball player. Michael Jordan.

The size 12 black leather Nike Air Yeezy 1 prototype features a Yeezy forefoot strap and the brand’s signature Y medal buckle in pink.

They are for sale at Sotheby’s by New York collector Ryan Chang.

West wore them for his emotional performance with Hey Mama and Stronger at the 2008 Grammy Awards, sparking a social media craze among fashion followers.

West ended the partnership with Nike in 2013 and brought the brand to Adidas, where the Yeezy sneaker brand brings in an estimated $ 1.7 billion in revenue by 2020, according to Forbes.

“Our goal in buying such an iconic shoe – and part of history – is to increase accessibility and empower the communities that gave birth to the sneaker culture with companies. to achieve financial freedom through RARES, ”said Gerome Sapp, Co-Founder and CEO of RARES.

Brahm Wachter, head of Sotheby’s modern streetwear and collectibles division, said, “The sales tell a lot of Kanye’s legacy as one of the designer clothes and shoes. the most influential sport of our time. “



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