Saturday, July 27, 2019

Moonstruck

$437,500 Sale of 1972 Nike Moon Shoes
Jordan Geller Sets World Record

by Mark Cullen/Trackerati.com © 2019 All Rights Reserved
Jordan Geller with Moon Shoes at Sotheby's
Thanks to Nicole Browner for special permission to use this image.
Shoe impresario Jordan Geller, already the dominant force in the collecting of vintage Nike shoes, etched his name into the history books - and, once again, the Guinness Book of World Records - with his sale of a pair of rare 1972 Moon Shoes for the staggering sum of $437,500. The shoes, designed by Bill Bowerman and handmade by Nike's 3rd employee, Geoff Hollister, were made for the 1972 US Olympic Marathon Trials, but never worn. 

 In one fell swoop, Geller changed the market for these early Nikes forever. Listed at $110,000-160,000 - and with a minimum bid of $80,000 - the $437,500 final price exceeded all expectations.

Part of the Stadium Goods/Sotheby's "Ultimate Sneaker Collection" sale of 100 of the rarest sneakers ever made, the first 99 pairs were bought by Canadian entrepreneur Miles Nadal for $850,000 halfway through the online auction. 

But at that point, Geller chose not to sell the Moon Shoes within the listed range. Courageously, he waited out the remaining days of the auction - which closed on July 23 - to see if there would be interest beyond $160,000.

 Was there ever.

 At that point, Nadal purchased pair #100, which will forever be known as Pair #1.

 "It was the perfect storm," said Geller to Trackerati. "I have faith and confidence in the brand and the marketplace."

 How did Geller pull off the greatest sneaker sale in history?

 Easy.

 No waffling.
Full disclosure: I am honored to count Jordan Geller as my friend and colleague, and we have previously met with shoes in hand to discuss, evaluate, and appreciate our historic treasures:
http://www.trackerati.com/2017/04/shoe-summit.html






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