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Rare Nike trainers sell for over £350,000

The sale broke the record for most expensive trainers bought at auction

A rare pair of Nike trainers have sold at auction for a record-breaking value of $437,500 (around £350,000). 

The auction of the Nike Waffle Moon shoes, which were designed by Nike co-founder Bill Bowerman, took place at Sotheby's in New York. It smashed the previous record of $190,373 which was set in 2017 for a pair of signed converse worn by Michael Jordan in the 1984 Olympic basketball final.

The Waffle Moon shoes had only been expected to sell for around $160,000, but with only 12 pairs having been made especially for athletes at the 1972 Olympics, they were clearly a hotter ticket than expected. 

They were purchased by Miles Nadal, a Canadian collector and founder of the investment firm Peerage Capital. He spent $850,000 on 99 other pairs of shoes sold over the course of the same auction. 

The BBC reports that Nadal said he was happy to own a "true historical artefact in sports history and pop culture" and also said that he thinks “sneaker culture and collecting is on the verge of a breakout moment".