Kanye West's Nike Yeezys sell for a record-breaking $1.8 million at Sotheby's

The black high tops first worn by the rapper at a concert, were acquired by Rares, a shoe investment marketplace

Visitors look at Kanye West 'Grammy Worn' Nike Air Yeezy 1 Prototype sneakers, right, on display during a Sotheby's auction preview in Hong Kong, China, 17 April 2021. The shoes were worn by West in February 2008 during his performance at the 50th Annual Grammy Awards. EPA

Kanye West performs at the 50th Annual Grammy Awards in Los Angeles on February 10, 2008. The Nike Air Yeezy 1 Prototypes worn by West during his performance were acquired for $1.8 million by social investing platform Rares. AP

A visitor looks at a pair of 'Nike Air Yeezy 1' prototype sneakers designed by Kanye West, before the sneakers go up for private sale at Sotheby's, at the Hong Kong Convention and Exhibition Centre, in Hong Kong. Reuters

'The sale marks the highest publicly recorded price for a sneaker sale ever,' Sotheby's said in a statement. EPA

The black high top Yeezys were worn by West during the 2008 Grammy Awards as he performed 'Hey Mama' and 'Stronger'. EPA

Kanye West initially teamed up with Nike before switching to Adidas to create his own line. Reuters

Visitors look at Kanye West 'Grammy Worn' Nike Air Yeezy 1 Prototype sneakers, right, on display during a Sotheby's auction preview in Hong Kong. EPA

Brahm Wachter, head of streetwear and new collectibles at Sotheby's, said the price 'speaks volumes of Kanye's legacy as one of the most influential clothing and sneaker designers of our time, and of the Yeezy franchise he has built which has become an industry titan'. Reuters

Kanye West performs onstage during the 50th annual Grammy in 2008 sporting a pair of Nike Air Yeezy 1 sneakers for the first time. AFP

A pair of Nike Air Yeezy 1s worn by rapper Kanye West sold for $1.8 million, triple the previous record for sneakers, Sotheby's said Monday.

The shoes beat the record held by a pair of Nike Air Jordan 1s which sold for $615,000 in August 2020 at a Christie's auction.

"The sale marks the highest publicly recorded price for a sneaker sale ever," Sotheby's said.

"The sale also marks the first pair of sneakers to top $1 million," it said.

Kanye West performs onstage during the 50th annual Grammy in 2008 sporting a pair of Nike Air Yeezy 1 sneakers for the first time. AFP

The black high top Yeezys were worn by West during the 2008 Grammy Awards as he performed Hey Mama and Stronger.

The trainers, which were part of a collaboration between Nike and West, were prototypes, with the resulting model not going on sale until April 2009.

The shoes were acquired by Rares, an investment marketplace that allows users to invest in rare pairs of athletic footwear. Individuals can buy shares in a pair, just as investors buy stock in a company.

Rares bought the Air Yeezy 1s through a private sale from collector Ryan Chang.

Brahm Wachter, head of streetwear and new collectibles at Sotheby's, said the price "speaks volumes of Kanye's legacy as one of the most influential clothing and sneaker designers of our time, and of the Yeezy franchise he has built which has become an industry titan."

Before collaborating with West, Nike had named shoes only in honour of famous athletes.

The Air Yeezy 1 was released in limited edition in 2009, followed by the Air Yeezy 2 in 2012.

Most Air Yeezy 1s sell for between $2,000 and $4,000, depending on the model.

West initially teamed up with Nike before switching to Adidas to create his own line.

Yeezys generated nearly $1.7 billion in revenue in 2020, according to an internal note from UBS, reported by Bloomberg.