The auction house, Sotheby’s has reported the sale of 200 pairs of sneakers designed by the late fashion designer Virgil Abloh, to the tune of $25.3 million, which is three times the estimated worth of the sneakers.
The sneakers which were special edition Louis Vuitton and Nike “Air Force 1” sneakers were designed for the Louis Vuitton Spring-Summer 2022. The highest price paid for a pair of sneakers was $352,800. This pair carried an original high estimate of $15,000.
The proceeds from the sale will go to the Virgil Abloh “Post-Modern” Scholarship Fund, which aims to help students of colour who are pursuing careers in fashion.
The breakdown of the auction bid shows that it received 10,000 bids in total, 40% of which came from Asia while majority of the bidders were aged 40 and below.
In addition to the top-selling size 5, a pair of size 9.5 sneakers went for 2nd highest at $201,600, and multiple pairs across sizes 9.5, 10, 10.5, and 11 managed to reach $189,000 each, the third-highest haul of any lot. A size 6.5, on the other hand, was the lowest price paid at $75,600.
What they are saying
Charles F. Stewart, CEO at Sotheby’s, said in a statement that the “record-breaking auction, which saw unparalleled global participation, was testament to Abloh’s legacy as one of the most visionary artists and designers of his generation whose widespread influence and impact is still palpable.”
The auctioned footwear designed by the late designer is the first collaboration between Nike and French fashion house Louis Vuitton. The leather low tops feature his signature “Air” quotation marks and Louis Vuitton’s iconic Damier Ebene pattern.
Abloh wasn’t just a fashion designer at Louis Vuitton, He also founded the label Off-White. His name would transcend his death as he blurred the lines between high fashion and streetwear in Louis Vuitton with his creativity.
