Kanye West sneakers fetch record $1.8M at private sale

Kanye West
Kanye West performs at the 50th Annual Grammy Awards in Los Angeles on Feb. 10, 2008. The Nike Air Yeezy 1 Prototypes worn by West during his performance were acquired for $1.8 million by social investing platform Rares. (AP Photo/Kevork Djansezian, File)

NEW YORK (AP) — A pair of prototype Nikes worn by Kanye West during his performances of “Hey Mama” and “Stronger” at the Grammy Awards in 2008 has shattered the record for a pair of sneakers ever sold.

Sotheby's announced Monday that West's so-called “Grammy Worn” Nike Air Yeezy 1 fetched $1.8 in a private sale. It was acquired by RARES, a sneaker investment marketplace.

The sale marks the highest publicly recorded price for a sneaker sale and the first pair of sneakers to top $1 million. Sotheby’s brokered the private sale.

The size 12 shoes designed by West and Mark Smith are made of soft black leather with perforated detailing throughout the upper, and the heel overlay is branded with a tonal Swoosh. The design features the iconic Yeezy forefoot strap and signature ‘Y’ medallion lacelocks in bright pink.

The price is nearly triple the auction record for a sneaker set in 2020 at Christie’s for $615,000. That was a pair of ’85 Jordan 1s that the basketball superstar wore when he famously shattered the backboard during a pre-season game in Italy.

“We are thrilled with the result, which has nearly tripled the highest price on record,” Brahm Wachter, Sotheby’s head of streetwear and modern collectables, said in a statement. “The sale speaks volumes of Kanye’s legacy as one of the most influential clothing and sneaker designers of our time, and of the Yeezy franchise he has built which has become an industry titan.”

Should you invest $1,000 in NIKE right now?

Before you consider NIKE, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NIKE wasn't on the list.

While NIKE currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

13 Stocks Institutional Investors Won't Stop Buying Cover

Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.

Get This Free Report

Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
NIKE (NKE)
4.437 of 5 stars
$94.11+0.2%1.57%27.68Moderate Buy$116.26
Compare These Stocks  Add These Stocks to My Watchlist 


Featured Articles and Offers

Search Headlines: