Meet the Collector Who Just Bought 99 of the World’s Rarest Sneakers for $850,000
And he plans to keep them in a private museum.
Courtesy of Sotheby's
Last week, Sotheby’s and Stadium Goods announced they were selling 100 of the world’s rarest sneakers in an online auction scheduled to run until the end of the month. But it seems one sneaky collector couldn’t wait that long and has snapped up 99 pairs of the coveted kicks in six days, no less.
Canadian entrepreneur Miles Spencer Nadal—the executive chairman of multibillion-dollar investment firm Peerage Capital—walked away with all but one pair of sneakers for the cool sum of $850,000. And no, the 61-year-old isn’t planning to rock the ultra-rare Yeezys in a bid to gain street cred—he’s decided to display the entire collection in his 94,000-square-foot private museum.
Nadal, who is a successful businessman, philanthropist—and apparent closet sneakerhead—is also an avid car collector. Over the years, he’s acquired more than 142 cars and 40 motorcycles which are exhibited at his Dare to Dream Automobile Museum in Toronto, Canada. The collection includes the first motorized car—The Karl Benz Motorwagen—a 1955 Mercedes Benz 300 SL Gullwing and, of course, a heap of contemporary supercars. It also features racing artifacts, collectibles, antiques—and now, limited-edition Nike, Air Jordan, and Adidas sneakers. Nadal plans to open the museum to friends, family and charitable organizations, upon request.
Miles Nadal and his car collection
Courtesy of Sotheby's
“I have always been an avid enthusiast and appreciator of unique art and collectibles that represent innovative design, exceptional craftsmanship, and new and exciting trends in pop culture. Acquiring such a range of contemporary classics is a unique opportunity to build a substantial sneaker collection of iconic proportions. The collection will be a wonderful complement to the Dare to Dream classic car collection, and I am excited to showcase these magnificent sneakers,” Nadal said in a press release.
So, why did the collector leave one pair out of his new sneaker bounty?
Turns out it wasn’t his choice. While Nadal originally presented an offer to acquire all 100 pairs of sneakers, the consignor of the ultra-rare 1972 Nike Waffle Racing Flat “Moon Shoe” opted to keep the kicks open to public bidding. Designed for the runners at the Olympic Trials in 1972, these handmade retro classics are expected to fetch between $100,000 and $160,000 in the online auction, which will run till July 23.