Last week, Stadium Goods announced their partnership with auction house Sotheby’s, for an online auction featuring what they described as 100 of the rarest sneakers ever produced.

The 41 total lots included hard-to-find items like a set of four player-exclusive Jordan 3s and 4s, the 2011 and 2016 Nike MAGs, and a sample of the Chanel x Pharrell x adidas NMD Hu reading "Karl" and "Pharrell" on the forefoot instead of the production models which read "Chanel" and "Pharrell."

Canadian entrepreneur and investor Miles Nadal scooped up 99 of the available 100 shoes for $850,000, but passed over many would consider to be the rarest item in the auction. This would be the Bill Bowerman-designed 1972 Nike Waffle Racing Flat Moon Shoe, which is still up for grabs, and is estimated to fetch between $110,000 and $160,000. The specific pair showcased at Sotheby's was provided by collector Jordan Michael Geller of Shoezeum, who described the shoes as the "crown jewel" of the auction.

In 2016, another pair of the same 1972 Nike Waffle shoes sold for $11,200 on eBay.

For many, the Nike Waffle Racing Flat is truly one of the most collectible items of sports memorabilia ever, and the item's rarity easily surpasses other sneakers on the docket like the YEEZY Boost 350 V2 "Clay," which released four months ago in March 2019.

“I have always been an avid enthusiast and appreciator of unique art and collectibles that represent innovative design, exceptional craftsmanship and new and exciting trends in pop culture,” Nadal said. He added that he plans on displaying the sneakers at his Dare to Dream Automobile Museum in Toronto, where he also houses his collection of 142 cars and 40 motorcycles.

Historically, auction houses like Sotheby's and Christie's have dealt largely in rare artwork, wine or watches. But more recently, these auction houses are gravitating toward streetwear artifacts like rare sneakers, accessories, or skateboard decks. In January 2019 at another Sotheby's auction, a 17-year-old art collector spent $800,000 on 248 Supreme skateboard decks made between 1998 and 2018.

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