A pair of extremely rare running shoes designed for the 1972 Olympic trials set a new world record after selling for more than $437,000 during a public auction this week.
Collector Miles Nadal surpassed the world auction record for sneakers Wednesday after he purchased a pair of Nike’s 1972 Waffle Racing Flat “Moon Shoe” for $437,500 for his private collection.
Original estimates for the sale were between $100,000 - $160,000.
Only 12 pairs were ever made and, according to Sotheby's, Nike co-founder and legendary Oregon University track coach Bill Bowerman was inspired by his wife’s waffle iron.
He was said to create the first prototype of the sole by pouring rubber into his wife’s waffle iron.
Nadal acquired 99 other pairs of the rarest sneakers ever produced, including footwear made by Nike, Air Jordan, Adidas, Yeezy and more, during a separate sale last week and for a total of $850,000.
The rare “Moon Shoes” were a part of Nadal’s original bid to purchase all 100 rare finds but the auction house ultimately decided to hold the pair off until Wednesday for a public auction.
The previous record for sneakers was just over $190,000 for a pair of Converse worn and signed by Michael Jordan.