Canadian entrepreneur Miles Nadal bought a pair of rare Nike shoes two weeks ago for a shocking $577,000 CAD ($437,500 USD) at a Sotheby’s auction.
The 1972 Nike Waffle Racing Flat, named “Moon Shoe”, broke the Guinness World Record for the most expensive sneakers sold at an auction.
The shoe was reportedly one of only 12 pairs ever made, and the only pair that remained unworn. Nike created the shoe for the 1972 American Olympic Trials. The shoes were handmade, and designed by Nike co-founder Bill Bowerman.
Legendary American distance runner Steve Prefontaine qualified for the 1972 Munich Olympics in the 5,000m and likely wore a Moon Shoe to do it. Prefontaine was one of Bowerman’s athletes.
Jordy Geller is the seller of the shoes and holds the world record for the largest sneaker collection. Geller told Guinness, “It’s actually incredible timing with the recent 50th anniversary of the moon landing. When athletes wore these particular pair of Nike shoes, they left unique sole marks on the ground, resembling an astronaut’s moon print. That’s how the ‘Moon Shoes’ got their name.”
The Telegraph reports that the shoe re-sale industry is huge right now. So if you’ve got some old classics lying around your home, consider getting them appraised — they could be worth more than you think.