Sneaker collection sells for 'record-breaking' $25 million
Sotheby's has sold 200 pairs of sneakers designed by the late Virgil Abloh
for a "record breaking" collective $25.3 million, the auction house
said Wednesday -- more than eight times the initial $3 million estimate.
The special edition Louis Vuitton and Nike "Air Force 1" sneakers were designed for the Louis Vuitton Spring-Summer 2022, Sotheby's said in a press release.
The
auction marked the first time the sneakers were released for sale,
Sotheby's said. A spokesperson told CNN Thursday that, as a collection,
the sneakers had secured "a record auction total" for fashion.
Individual
pairs of sneakers have, however, commanded a higher price. This
includes a pair of Nike Air Ships worn by basketball star Michael Jordan, which sold for $1.47 million in October.
Abloh,
who was the artistic director for Louis Vuitton menswear -- and the
fashion house's first Black artistic director -- died in November at the
age of 41 after privately battling a rare form of cancer for two years.
The
shoes ranged in size from 5 to 18, with the size 5 pair securing the
highest price, at $352,800 -- more than 23 times its $15,000 high
estimate.
The
sneakers are made from calf leather, featuring the Louis Vuitton
monogram and pattern alongside the Nike swoosh. The quotation marks on
the design are Abloh's "signature" design, Sotheby's said. Credit: Sotheby's
Sotheby's
said it received 10,000 bids in total -- 40% of which came from Asia.
More than two thirds of bidders were aged under 40.
Each
pair was sold with an orange Louis Vuitton carry case made of taurillon
leather and reinterpreted from earlier designs in the fashion house
archive.
Proceeds
from the sale will go to the Virgil Abloh "Post-Modern" Scholarship
Fund, a charity set up to support the education of promising students of
Black, African American and African descent, the auction house added.
Abloh had been involved in early organization of the auction before he died, Sotheby's said.
Virgil Abloh was credited with broadening the appeal of fashion house Louis Vuitton. Credit: Christian Vierig/Getty Images
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."
As
well as being a fashion designer at Louis Vuitton, Abloh founded the
label Off-White. He was also a DJ and a former creative director at
design agency Donda, owned by Kanye West, who is now known as Ye.
At Louis Vuitton, he was credited with bringing in a younger demographic appeal to the brand, and for blurring the lines between high fashion and streetwear.
- Style 'Women who have bodies like me can be celebrated:' Megan Thee Stallion unveiled as Sports Illustrated cover star
- Style Videos See inside the extravagant studio Halston designed
- Style Idris Elba marries Sabrina Dhowre in Morocco wearing Ozwald Boateng
- Style Kate Winslet says she insisted a 'bulgy bit of belly' wasn't edited out of 'Mare of Easttown'
No comments