July 22 (UPI) -- Sotheby's sold 99 pairs of rare sneakers in a private sale before a planned auction Monday, leaving "one of the most significant" pairs of shoes as the sole item up for bid in the auction house's Stadium Goods sale.
The 1972 Nike Waffle Racing Flat "Moon Shoe" was open for bidding through 2 p.m. EDT Tuesday. The pair is one of 12 created by the sporting goods brand and the only one to be in unworn condition.
Nike co-founder Bill Bowerman designed the "Moon Shoe" with its waffle-patterned sole after testing the unique pattern by melting rubber on his wife's waffle iron. Runners wore the shoes at the 1972 Olympic trials.
Sotheby's displayed the "Moon Shoe" as part of a 100-sneaker collection, which includes a variety of rare Air Jordans, an Adidas collaboration between Chanel and singer Pharrell Williams, and a pair of Nike Mags inspired by the self-lacing shoes won by Marty McFly in Back to the Future II.
Collector Miles Nadal purchased the other 99 shoes for $850,000, and offered to buy the "Moon Shoes," but the seller preferred to keep the "Moon Shoe" available for public auction. Nadal said he plans to display the collection in his private museum in Toronto.
"It's clear from Mr. Nadal's comprehensive collection of iconic cars that he is someone with a strong interest in items of the highest standard of design and quality," said Noah Wunsch, Sotheby's global head of eCommerce.
"Stadium Goods has been an exceptional partner throughout this process, and their curated selection of the finest sneakers ever produced has proven to be an irresistible offering."