As expected Sotheby’s auction of the Louis Vuitton x Air Force 1 collection raised a ridiculous amount of cash but to be honest, we didn’t expect the final number to be in eight figures.
Originally valued at an estimated $3 million dollars, the 200 pairs of Louis Vuitton x Air Force 1’s went up for auction on January 16 and ended on February 8 with the finally tally settling at a whopping $25.3 million. That is more than eight times what was expected. According to their press release more than 10,000 bids from 1,200 bidders were made on the 200 sneakers with 40% of buyers residing in Asia. Who knew? Proceeds from the $23 million will benefit The Virgil Abloh “Post-Modern” Scholarship Fund in honor of the late-great fashion designing genius.
Naturally everyone was blown away by the final sale number and Sotheby’s Chief Executive Officer, Charles F. Stewart if definitely one of them. In a statement the CEO had this to say:
“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.”
Per the press release, “The blockbuster auction was highlighted by Lot 1, Size 5, which achieved $352,800 – more than 23 times its $15,000 high estimate.”
What y’all think resale on Lot 1, size 5 would be on the secondary market? $500,000? Y’all know there will be a millionaire or two out there willing to dish out those kind of numbers to own a piece of fashion history especially since Virgil Abloh is no longer with us. Rest In Power, King.
What do y’all think of the news about the Louis V x Air Force 1 collection? Do y’all ever expect to see an average head in the streets in a pair of these? Let us know in the comments section below.
The Louis Vuitton x Air Force 1 Auction Raised A Whopping $25.3 Million was originally published on hiphopwired.com