Man Pays $437,000 for Rare Pair of Nike Sneakers

If you have half a million dollars, you just do it!

That’s exactly what Canadian entrepreneur Miles Nadal did by plucking down $437,500 for a pair of Nike sneakers at a Sotheby’s auction this week, according to the New York Post.

The rare kicks, known as “Moon Shoes,” were designed by Nike co-founder Bill Bowerman for runners at the 1972 Olympic trials. Only 12 were ever created and even less exist today.

While the shoes were initially estimated to be worth $190K, Nadal went above and beyond to add them to his private collection.

“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,” the 61-year-old said.

His staggering purchase now makes the Moon Shoes the most expensive sneakers ever bought at auction, surpassing a pair of autographed Converse previously worn by Michael Jordan at the 1984 Olympics. Those sold in 1997 for $190K.

In addition to the Moon Shoes, Nadal channeled his inner Carrie Bradshaw and scooped up 99 other pairs of sneakers for $850K. In total, the collector spent over $1.2 million at the “Stadium Goods: the Ultimate Sneaker Collection” auction.

Nadal added: “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. “

The sneaker connoisseur, who also collects classic cars and motorcycles,  doesn’t plan on wearing any of his purchases and instead will exhibit them at his private Dare to Dream Automobile Museum in Toronto.