Canadian collector pays $437,500 for rare Nike Moon Shoes for private museum

Canadian collector Miles S. Nadal paid $437,500 for a pair of Nike Moon Shoes at Sotheby's, far exceeding the $160,000 pre-sale estimate. He had already secured the first 99 lots of the sneaker auction with a preemptive offer of $850,000. The Moon Shoes are one of the most significant artifacts in Nike's history, handcrafted by co-founder Bill Bowerman, a track coach at the University of Oregon. Legend has it Bowerman was inspired by his wife making waffles, leading to the innovative waffle sole design that provided better traction and cushioning. Only 12 pairs of Moon Shoes were ever made; Nadal's pair is the only one never worn. The shoes feature a white nylon upper, suede heel counter, and leather Swooshes without the Nike name. The name "Moon Shoes" comes from the resemblance of their track imprint to the footprints left by Apollo astronauts on the moon in 1969. Nadal, chairman of Peerage Capital in Toronto and founder of the Dare to Dream charity, plans to display the 100 sneakers alongside his collection of 142 cars in a private museum he intends to build. The auction took place on July 23, 2019.