Sotheby’s this week auctioned an online sale of 200 pairs of Louis Vuitton Virgil Abloh x Nike sneakers, selling for a total of 25.3 million dollars.
One pair in a rare size sold for 352,800 dollars, with most selling over 100,000 dollars, well over the original estimates of 5,000 – 15,000 dollars.
The Nike collaboration was a shoe designed by Abloh for the SS22 Louis Vuitton collection and is made entirely from leather, and embellished with LV's emblematic Monogram and Damier patterns with natural cowhide piping. Each pair sold comes with a Louis Vuitton pilot case.
Luxury fashion is booming at auction, with Hermes, Chanel and high-end watches fetching unprecedented prices. In November Christie’s Hong Kong auction house sold an Hermes crocodile leather Kelly handbag at 4 million HK dollars, (around 510,000 US dollars). It broke the world auction record for handbags.
Virgil Abloh had laid the foundation for the SS22 sneaker auction, with proceeds going to the Virgil Abloh™ “Post-Modern” Scholarship Fund, aimed at supporting Black creatives in the fashion industry.