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Sotheby’s Auction House, which deals in fine art and luxury items, announced the private sale of Kanye West’s personal size 12 Yeezys on Monday, April 26, 2021. RARES — a sneaker investment firm that offers people the opportunity to buy or trade stock in sneakers, rather than just buying the shoe itself — paid $1.8 million for the sneakers, creating the highest price paid for a sneaker ever. Gerome Sapp, CEO, and co-founder of RARES, compares the acquisition of the Grammy winner’s previously worn sneaker to purchasing a slice of history.
This is the first sneaker sale that topped $1 million. Previous record prices for sneakers were set in 2019 for $437,000 and May 2020 for $560,000.
In 2019, the record was set with the purchase of a pair of Nike Waffle Shoes. Breaking that record in 2020 was a pair of ’85 Air Jordan 1s that he wore during a pre-season game in which he shattered the backboard in Italy.
Brahm Watcher, the Head of Streetwear & Modern Collectables at Sotheby’s, says he was thrilled with the sale — “[it] speaks volumes of Kanye’s legacy as one of the most influential clothing and sneaker designers of our time.”
The samples West and Mark Smith designed are made of soft black leather with perforated detailing and a tonal Swoosh. It also has the Yeezy forefoot strap and signature ‘Y’ medallion lace locks in bright pink and were built in Nike’s ‘Innovation Kitchen’ at the company’s headquarters in Beaverton, Oregon, in 2007.
The sneakers are considered the most sought-after sneakers that have ever existed, nearly tripling the auction’s record and redefining what a “signature” shoe could be.
Written by Brenda Robinson
Edited by Cathy Milne-Ware
Sources:
CNN: Kanye West’s Yeezys Just Sold For A Record-breaking $1.8 million; by Leah Dolan
ABC News: Kanye West Sneakers Fetch Record $1.8M At Private Sale; by Mark Kennedy
NBC New York: Kanye’s Yeezys Go for $1.8 Million At Auction, Breaking World Record for Sneaker Sale
Top and Featured Image Courtesy of DIVISE CALCIO & MONDO SPORT’s Flickr Page – Creative Commons License
Inset Image Courtesy of Red Deals’ Flickr Page – Creative Commons License