Some iconic Nike kicks fetched a whopping nearly 150,000% premium over their original retail prices on the resale site StockX. The Nike Dunk SB Low Paris, a limited-edition version of a Nike basketball sneaker first introduced in 2003, has reportedly sold for hundreds of thousands of dollars. Each pair of the sneakers mentioned features cut-outs from art by Bernard Buffet – a late French expressionist painter.
About 200 pairs were produced and originally sold for $60. The pair of sneakers were unique and sold out immediately upon release nearly two decades ago. A pair of these iconic sneakers sold for over $130,000 in the UK in 2021. The lowest asking price by resellers on StockX was $89,691 – a whopping return of almost 150,000%.
Described as the holy grail for sneakerheads, the 1985 Jordan 1 OG Bred sneakers were part of basketball legend Michael Jordan’s longstanding partnership with Nike. It was part of the first product line. In 1985, these sneakers sold for $65. Last year, Sotheby’s sold “the first pair of sneakers Michael Jordan wore in the NBA” during his rookie season, for a whopping $1.47 million. The British-based American MNC also sold a prototype pair of Nike Air Yeezys for $1.8 million. The said sneakers were worn by American rapper Kanye West to the 2008 Grammy Awards.
The reason it sells for millions is because sneakers are collectibles. Yeezy’s, which are limited editions, are often sold for five figures. It’s much higher if the shoes have historical value, like Michael Jordan’s in one of his NBA games. The price goes up to millions. There have also been unusual sales in the annals of sneaker history, such as a collector paying $130,000 for a pair of “virtual” Nike sneakers.
This was an NFT – part of the Nike Dunk Genesis Cryptokicks collection. The collection consists of 20,000 NFTs. It was launched by Nike and RTFKT (artifact) – Nike bought its very first virtual sneaker design in December 2021. The sneaker NFT is rare and consists of a colorway designed by the famous artist Takashi Murakami himself.
Sign up for newsletters
Subscribe to our newsletter and never miss an update on the latest technology, gaming, startup, tutorials, deals and more.