Kanye West Sneakers Sell for Over R25 Million via Private Auction

Kanye West Sneakers Sell for Over R25 Million via Private Auction

- The 2008 Nike Air Yeezy sneakers that Kanye West wore during his Grammy performance have sold for a whopping $1.8 million (over R25 million)

- Sotheby's announced that the sale, which was completed during a private auction, set a new world record for a pair of sneakers

- The buyer of the expensive pair of sneakers was sneaker investing platform RARES after New York collector Ryan Chang put them up for sale

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Kanye West's 'Grammy Worn' 2008 Nike Air Yeezy sneakers sold for a whopping $1.8 million at a private auction recently, setting a new world record for a pair of sneakers, Sotheby's announced on Monday, 26 April.

The buyer was reportedly sneaker investing platform RARES. The company paid the highest publicly recorded price for the pair.

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Kanye West Sneakers Sell for Over R25 Million at a Private Auction
Kanye West Yeezy sneakers sold for over R25 million at a private auction. Image: Kim Kardashian and Kanye West
Source: Facebook

The US rapper's sneakers were prototypes for a line developed by West and Mark Smith for Nike. They were revealed during West’s performance at the 2008 Grammy Awards, Reuters reported.

The shoes were put up for sale at Sotheby's by New York collector Ryan Chang. Tweeps have shared mixed opinions on the price of the sneakers. Check out some of their recations below:

@Marywhe07556553 wrote:

"I will NEVER understand this obsession with shoes."

@NathanW75018143 said:

"These shoes were worn by someone who is supposed to be better than us common folk. The shoes alone are more valuable than you."

@LeVermilor commented:

"For this price you can have the factory and the workers to build this pair of shoes in 10 000 copies!"

@LollyMkunqwana said:

"Okay I love sneakers just like the next person but this is R25.6 million!"

@AbednegoChauke wrote:

"This shows how powerful Kanye is."

@imrevanthp said:

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"Plot twist: Kanye himself purchased them! Lol."

@Bdoggroast added:

"Kanye ghost-bought his own shoes to pump up demand for his brand."

In other news, Briefly News reported that Kanye West has reportedly bagged a logo deal with Gap worth $970 million (over R14 billion). The rights for the new design were filed on 9 April.

The US hip-hop superstar announced his 10-year-partnership with Gap in 2020. Legal docs show the logo the superstar rapper has locked in is exactly what he shared last year.

According to Complex, the Yeezy logo is a spin on Gap's traditional square navy blue emblem. The new official logo now says "YZY". The trademark papers also identify the items the Flashing Lights hitmaker is expected to make through Yeezy Gap.

TMZ reports that the items include handbags, footwear and jackets among other things. The dope collaboration by Kanye West and Gap is expected to hit the stores later this year.

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Source: Briefly.co.za

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