The auction of the Louis Vuitton and Nike “Air Force 1” and Louis Vuitton pilot case has turned out to be the most valuable charity auction at Sotheby’s in nearly ten years. A success like this one also brings forth specific interesting and ground-breaking facts about the pair created by Virgil Abloh and achieved a total of $25.3 million in a 200 lot sale. 100% of the proceeds will benefit The Virgil Abloh™ “Post-Modern” Scholarship Fund. In partnership with the Fashion 2 Scholarship Fund, this stupendous sale will support the education of academically promising students of Black, African American, or African descent.
The sought-after pair that retains the original shape is improved by using luxe fabrics, Vuitton’s signature patterns, brown Monogram, and Damier graphics. The LV Damier graphic is spotted on the tongues, the sidewalls, Swooshes, and the heel overlays. The exclusive colorway is highlighted with Louis Vuitton Air branding on the exterior. Undoubtedly splendid, let’s also check what other facts made this Sotheby’s auction one to remember:
6. A sensational success beyond expectation-
The achieved amount ($25.3 million) was more than eight times the auction’s overall $3 million high estimates. Charles F. Stewart, Sotheby’s Chief Executive Officer, said: “Today’s record-breaking auction, which saw unparalleled global participation, is a testament to Virgil Abloh’s legacy as one of the most visionary artists and designers of his generation whose widespread influence and impact is still palpable. Sotheby’s is honored to be have been a partner with Louis Vuitton and Nike in this special sale, which is now among the most successful charitable auctions ever staged at Sotheby’s.”
5. The highest known public records for the most valuable sneaker and fashion auctions ever staged-
Micheal Burke, CEO & Chairman of Louis Vuitton, shared his euphoria, “We are thrilled that the record-breaking fundraising auction for Virgil Abloh’s Post Modern Scholarship Fund has generated such exceptional results. We are proud that thousands of students will be able to benefit from the proceeds, allowing us to continue to uphold Virgil’s mission to inspire and support future generations.”
4. Loads of sneaker-crazy young blood-
The gorgeous Louis Vuitton and Nike “Air Force 1” auction was piloted by more than 75% of new buyers. Of these, more than two-thirds of all bidders were adults under 40.
3. Bidders from more than 50 countries-
It’s not every day that the entire world comes together for a pair of shoes! The Sotheby’s auction witnessed strong International participation with more than 10,000 total bids. When studied, this widespread global interest revealed more than 1,200 bidders from more than 50 countries.
2. Asia exhibited an unmissable interest-
The sneakers spotted at Virgil Abloh’s final LV runway show were the object of affection for many Asian buyers. Almost 40% of buyers were from Asia, with the average age of collectors being 35. These young bidders accounted for 44% of all bid value.
1. Collectors compete for rare sizes:
Interestingly, Size 5 led the auction, achieving $352,800. Size 9, on the other end, reached the highest total value by size, totaling $3.4 million across 26 lots. There were no less than 1,400 bids for size 8, and a size 11 pair received the highest number of bids- 68.