- 200 pairs of Nike/Louis Vuitton sneakers designed by Virgil Abloh have sold for R376 million at a charity auction.
- The sale set several new benchmarks at Sotheby's, which includes the most valuable sneaker/fashion auction.
- Proceeds will benefit The Virgil Abloh Post-Modern Scholarship Fund for Black, African-American and students of African descent in the fashion industry.
A collection of Nike/Louis Vuitton sneakers designed by Virgil Abloh have sold for a record-breaking $25 million (around R376 million) at auction, more than eight times the original auction estimate of $3 million (R45 million).
Virgil, who died in November at the age of 41, was the creative director for the collection. The designer also helped set up the auction of the 200 pairs of shoes before his passing.
According to Sky News, auction house Sotheby's said the sale set several new benchmarks, which include the highest known public record for the most valuable sneaker/fashion auction ever to take place.
"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," Charles F Stewart, Sotheby's chief executive, said in a statement shared by the publication.
"Sotheby's is honoured to 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."
The proceeds from the auction will benefit The Virgil Abloh Post-Modern Scholarship Fund for Black, African-American and students of African descent in the fashion industry.
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