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Miles Nadal sneaker auction

Canadian Billionaire Auctions One of the World’s Rarest Sneaker Collections

A prominent Canadian mogul has decided to bid farewell to his extensive collection of sneakers. The auction date? June 1st. His collection? A staggering 750 pairs of some of the rarest and most sought-after sneakers imaginable, per The Wall Street Journal.

This individual, financier Miles Nadal, boasts sneakers adorned with the autographs of sports legends like OJ Simpson and Tom Brady. Among his prized possessions are iconic Air Jordans and a notable Nike prototype.

Miles Nadal sneaker auction
Michael Jordan signed sneakers are part of the collection | Image: Vivien Sharon Toronto/Sotheby’s Canada

The genesis of his sneaker fascination traces back five years when he initiated his collection by acquiring 99 rare pairs for a sum nearing USD$850,000. Subsequently, his fervour escalated as he set a record by procuring a singular Nike prototype for a staggering USD$437,500.

Nadal’s collection has since grown to almost 1,000 shoes, including a pair of signed Air Jordan 1’s from Michael Jordan’s rookie season, which he purchased in 2020 for USD$560,000.

Moreover, the auction will not be limited to footwear; Mr. Nadal intends to include 144 of his esteemed automobiles and motorcycles. Projections indicate that his sneaker collection alone is anticipated to fetch upwards of $2 million, while the vehicles, including an electric car from 1913 and various Ferraris, McLarens and Lamborghinis, are estimated to exceed a substantial $60 million.

As Nadal, now 65, has gotten older, maintaining his giant car collection has become a “burden”. “There’s never a week that goes by that I don’t have one to five things that need to be repaired—parts replaced, et cetera. And that’s not as much fun as it used to be,” Nadal said.

Miles Nadal sneaker auction
Miles Nadal placed his collection of shoes in a Canadian museum, where it was accompanied by a display of over 160 cars he had gathered over time | Image: Vivien Sharon Toronto/Sotheby’s Canada

Notably, the proceeds generated from the sale of the sneakers will be directed to the Dare to Dream Foundation, an organisation committed to supporting underprivileged children. And the proceeds from the whips are going to Nadal’s family office and are planned to be donated to various other causes.

Peerage Capital, the company owned by Nadal, is the proprietor of Sotheby’s International Realty in Canada and claims to be the largest franchise holder of Sotheby’s International Realty. Both Nadal and Sotheby’s affirm that no special arrangement or preferential treatment was received in relation to this auction.

Nadal intends to retain a selection of sneakers and only 20 cars, primarily those used for daily transportation. Must be nice…

Miles Nadal sneaker auction
Image: Vivien Sharon Toronto/Sotheby’s Canada