This kind of madness only occurs when the Federal Reserve is printing mad amounts of money that fuel the absurd.
A pair of Nike Air Yeezy 1, premiered by Kayne West during the 50th Annual Grammy Awards in 2008, has sold through a Sotheby’s private sale for US$1.8 million, the highest price ever recorded for a pair of sneakers.
The sale price of the Nike Air Yeezy 1, at US$1.8 million, has nearly tripled the previous record for sneakers, which was set by Sotheby’s sale of Nike Air Jordan 1s in May 2020 for US$560,000.
The buyer of the shoes is sneaker investing platform RARES.
Sneaker investing platform?
Now, I know this is mad.
-RW
Can it be that now $1,800,000 is considered chump change by the superrich? Or is famous toe cheese a wise longterm investment?
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