- South Korean cult-horror series 'Hellbound' returns at BIFF
- Nepalis fear more floods as climate change melts glaciers
- Honduras arrests environmentalist's alleged murderer
- Padres pitcher Musgrove needs elbow surgery
- Supreme Court lets stand rules to curb mercury, methane emissions
- Boston beat Denver in NBA exhibition season opener, but Jokic says omens are good
- Chagos diaspora angry at lack of input on islands' fate
- Biden says 'not confident' of peaceful US election
- US trade chief defends tariff hikes when paired with investment
- Lukaku stars as Napoli beat Como to hold Serie A top spot
- Ohtani set for MLB playoff debut as Dodgers face Padres
- Pogba's drug ban cut to 18 months from four years
- Devine leads New Zealand to big win over India in Women's T20 World Cup
- Bosnia floods kill 16 people
- EU court blocks French ban on vegetable 'steak' labelling
- Prosecutors seek dismissal of rape charges against French rugby players
- Meta AI turns pictures into videos with sound
- Bolivia's Morales says claims he raped a minor are a 'lie'
- MLB Reds hire two-time champion Francona as manager
- Daniel Maldini receives first Italy call-up for Nations League
- US dockworkers return to ports after three-day strike
- Ancelotti points finger at Madrid's 'lack of intensity'
- Haiti reeling after 70 killed in gang attack
- Five Czech kids in hospital over TikTok 'piercing challenge'
- What happens next in Iran-Israel conflict?
- Country star Garth Brooks denies rape accusations
- Stubbs hits maiden century as South Africa make 343-4 against Ireland
- DR Congo to begin mpox vaccination campaign Saturday in east
- Odegaard injury has forced Arsenal to be 'different', says Arteta
- Ratcliffe refuses to guarantee Ten Hag's Man Utd future
- Meta must limit data use for targeted ads: EU court
- Mauritius to hold legislative election on November 10
- Britain qualify for America's Cup final after 60-year wait
- IMF asks Sri Lanka to protect hard-won gains
- Morata returns to Spain Nations League squad after injury
- Irish regulator to probe Ryanair use of facial recognition
- Public allowed to see video evidence in France mass rape trial
- US hiring soars past expectations in sign of resilient market
- Under-fire Ten Hag 'together' with Man Utd hierarchy
- Guardiola talks of Man City love affair as financial hearing rumbles on
- De Bruyne out of Belgium Nations League squad
- Japanese trainer Yahagi hopes Shin Emperor achieves 50-year-old Arc dream
- UK's Starmer hails 'landmark' carbon capture funding
- As EU targets Chinese cars, European rivals sputter
- Bosnia floods kill 14 people
- Tennis world number one Swiatek splits with coach Wiktorowski
- Liverpool share responsibility for Nunez goal drought, says Slot
- Top EU court finds against FIFA in key transfer market ruling
- Top seed Sabalenka stunned by Muchova in Beijing last eight
- Tsitsipas gets revenge against Nishikori at Shanghai Masters
Sotheby's sale of 200 pairs of Virgil Abloh shoe fetches $25 million
Sotheby's announced Wednesday that an auction of 200 pairs of the Louis Vuitton and Nike "Air Force 1" sneaker created by late US designer Virgil Abloh had fetched a total of $25 million.
A spokesman for the auction house told AFP that the most paid for one of the pairs was more than $350,000 during the online sale that ran from January 26 to February 8.
The sums greatly exceed the initial estimates of Sotheby's, which had started the bidding at $2,000 and had predicted they would sell for between $5,000 and $15,000 a pair.
In the end, the sneakers, which ranged in size from five to 18, averaged more than $100,000 per shoe. The cheapest sold for just over $75,000.
The special edition sneaker, made of calf leather, was originally created for Louis Vuitton's spring-summer men's collection for 2022, of which Abloh was artistic director.
Abloh, a multi-talented DJ, architect and designer died in November at the age of 41 following a private battle with cancer.
A close associate of Kanye West, Abloh was the first Black American to be named creative director of a top French fashion house and brought streetwear and a less elitist approach to the world of luxury.
The brown, white and cream-colored sneakers boast Nike's famous swoosh logo plus Louis Vuitton's recognizable monogram and damier motifs.
They were created to celebrate the 40th anniversary of the Nike Air Force 1, which was designed in 1982.
- 'Broke the record' -
The auction, held exclusively online, began just six days after the presentation of Abloh's last Vuitton collection in Paris in front of an emotional audience that included stars Rihanna, Kanye West and Pharrell Williams.
"From the moment our auction launched, the energy has been electric," said Brahm Wachter, Sotheby's head of streetwear and modern collectables, adding that the event "broke the record for the most bids in the opening day of any online sale."
The market for rare sports shoes is soaring, with sneakers having transformed into major collector's items that have recently been snatched up for tens of thousands of dollars.
In search of a facelift and new clientele, big names in luxury such as Dior and LVMH have partnered with sports and streetwear brands to create athletic footwear.
According to Sotheby's, more than 1,200 potential buyers from more than 50 countries participated in the auction. More than half of those who successfully purchased a pair of shoes were under age 40 and collectors in Asia represented 40 percent of final buyers.
In the history of sneaker sales, however, the most expensive pairs have been worn by sports and hip-hop legends.
Last April, a pair of Nike Air Yeezy 1s worn by Kanye West sold for $1.8 million at Sotheby's. In October, a pair of sneakers worn by NBA superstar Michael Jordan early in his career sold for nearly $1.5 million.
Proceeds from the Abloh shoe auction will benefit a scholarship fund he set up that supports aspiring designers of Black, African American or African descent.
A.F.Rosado--PC