Nike's Back to the Future II sneakers expected to fetch Rs 48 lakh bid at Sotheby’s

Nike's 'back to the future' shoes (Yahoo Finance)

The Sotheby’s gallery in New York City is holding a rather rare exhibition-cum-auction of 100 of the rarest sneakers in history.

Some of the classic and rare sneakers to be exhibited include running shoes made specifically for the 1972 Olympics, which are expected to fetch around $160,000. Sotheby’s will also be exhibiting footwear made famous by celebrities such as Will Smith, Kanye West, and Travis Scott.

According to an Instagram post shared by the auctioneers on July 12, the much-coveted shoes will be up for bid at an online-only sale in collaboration with Stadium Goods. The online bids for the “The Ultimate Sneaker Collection” close on July 23.

The star attraction, however, will be Nike’s Back to the Future Part II light-up, self-lacing shoes, which are considered one of the most futuristic sneakers ever made. The avant garde trainers were made famous by the movie’s famous character Marty McFly.

It is believed that the shoes may fetch a bid up to $70,000. The limited-edition shoes, launched in 2016 were a replica of what was worn in the 1989 classic sci-fi sequel.

The trainers were first developed as a movie prop by designer Tinker Hatfield and the athletic brand’s CEO Mark Parker when director Robert Zemeckis requested for a futuristic design that would be suitable for a movie set in the future – 2015.

The Nike Mags first hit the market in the year 2011, without the self-tying laces. Five years later, only 89 pairs with automatic laces were launched. The 2011 prototype is believed to fetch around $18,000 at the auction, according to the Hollywood Reporter.

Noah Wunsch, Sotheby’s global head for e-commerce, said: “The Nike Mags are art collectables, but they’re also utilitarian items. They are in pristine condition and have never been worn, making them extremely rare.”

Interestingly, a pair of Adidas sneakers that were worn by designer Karl Lagerfeld and designed by musician Pharrell Williams for Chanel, will also be featured at the exhibition and is expected to fetch up to $50,000.