Sotheby’s announced Wednesday that an auction of 200 pairs of the Louis Vuitton and Nike “Air Force 1” sneaker created by late US designer Virgil Abloh had fetched a total of $25 million.
A spokesman for the auction house told AFP that the most paid for one of the pairs was more than $350,000 during the online sale that ran from January 26 to February 8.
The sums greatly exceed the initial estimates of Sotheby’s, which had started the bidding for at $2,000 and had predicted they would sell for between $,5000 and $15,000 each.
In the end, the sneakers, which ranged in size from five to 18, averaged more than $100,000 per shoe. The cheapest sold for just over $75,000.
The special edition sneaker, made of calf leather, was originally created for Louis Vuitton’s spring-summer men’s collection for 2022 of which Abloh was artistic director.
Abloh, a multi-talented DJ, architect and designer died in November at the age of 41 following a private battle with cancer.
A close associate of Kanye West, Abloh was the first Black American to be named creative director of a top French fashion house and brought streetwear and a less elitist approach to the world of luxury.
The brown, white and cream-colored sneakers boast Nike’s famous swoosh logo Louis Vuitton’s recognizable monogram and damier motifs.
They were created to celebrate the 40th anniversary of the Nike Air Force 1, which was designed in 1982.
Proceeds from the sale will benefit a scholarship fund set up by Virgil Abloh that supports aspiring designers of Black, African-American, or African descent.
