Nike Air Force 1 trainers designed by the late Virgil Abloh have sold at auction for $25 million.
Shattering the auction house’s expectations, 200 pairs of Louis Vuitton-monogrammed sneakers sold on average for $125,000 a pop.
The limited edition run was created for Louis Vuitton’s SS22 menswear collection in celebration of the iconic Nike style’s 40th anniversary.
First shown on a Paris runway in June 2021, before Abloh’s death in November following a two-year struggle with cancer, these were some of the visionary’s final creations. The looks were shown again at a spectacular tribute show in Miami two days after his passing, where “Virgil was here” was lit up in the sky.
The sneakers caused a sensation. Sotheby’s had predicted sales of around $15,000 a pair, but bidding blew up when the online auction opened on January 26. In the end, the cheapest pair went for $75,000 and the most expensive for $350,000.
It’s fuel on the sneaker market fire which continues to expand. It was valued at $79 billion in 2020, and is forecast to hit $120 billion by 2026.
Cash from this Vuitton sale is not going to be pocketed, though. Proceeds will go to Abloh’s “Post-Modern” Scholarship Fund, an organisation set up during his lifetime to help fund young black designers and students.
