Kanye West’s sneakers fetch record $1.8m at private sale

A pair of sneakers worn by Kanye West, US rapper, during his performance at the 2008 Grammy Awards, has been sold for a record $1.8 million.

Sotheby’s, a US-based multinational corporation, which auctioned the sneakers, broke the news on Monday.

West had stunned the showbiz landscape when he donned the “Grammy Worn” Nike Air Yeezy samples, which were prototypes for a line developed by the rapper and Mark Smith for Nike, in 2008.

The ‘Ye’ crooner wore them for his emotional performances of ‘Hey Mama’ and ‘Stronger’, his two hit singles, at the much-coveted event.

Ryan Chang, a New York-based sneaker collector, had put up the pair of sneakers for sale at Sotheby’s on April 13.

World Record: This pair of Kanye West ‘Grammy Worn’ Nike Air Yeezy 1 Prototypes from 2008 sold for $1.8 million today. Acquired by sneaker investing platform @raresapp via private sale, the pair set a new world record price for a pair of sneakers. https://t.co/bdgKtrHLY2

— Sotheby's (@Sothebys) April 26, 2021

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The black leather, size 12 Nike Air Yeezy 1 Prototypes have a Yeezy forefoot strap and the brand’s signature Y medallion lace locks in pink.

According to Sotheby’s, the sneakers were bought by RARES, a sneaker investing platform, making the deal the highest amount to be paid for such in the world.

The private sale shattered Sotheby’s $560,000 recorded in May last year for a pair of 1985 Air Jordan 1s, designed for and worn by Michael Jordan, US basketball legend.

Commenting on the development, Gerome Sapp, RARES co-founder and CEO, said the purchase was in line with the company’s aim of acquiring iconic shoes.

“Our goal in purchasing such an iconic shoe – and a piece of history – is to increase accessibility and empower the communities that birthed sneaker culture with the tools to gain financial freedom through RARES,” Sapp said.

Also speaking, Brahm Wachter, Sotheby’s head of streetwear and modern collectables, said the deal was indicative of West’s influential personality in the fashion industry.

“The sale speaks volumes of Kanye’s legacy as one of the most influential clothing and sneaker designers of our time,” he said.

The ‘Jesus is King’ singer had in 2013 parted ways with Nike and reportedly took Yeezy, his sneaker and apparel brand, to Adidas.

Forbes had estimated that the brand made an estimated sales of $1.7 billion in 2020.