Would You Pay Over $100,000 For This Pair Of Nike Mags?
Remember the amazing Nike sneakers Marty McFly wore in Back To The Future?
Remember the amazing sneakers Marty McFly wore in Back To The Future? They laced themselves, lit up and helped Marty escape every close call he ran into. Well, these shoes are now available to purchase, but not for the average person. A pair recently sold at auction for more than $100,000, undoubtedly to a die-hard shoe collector who just couldn’t live without them.
Not the first go around
You might be thinking, who would spend such a hefty chunk of change on a pair of sneakers? Well, a man in Hong Kong offered up $104,000 to own one, of just 89 pairs, of the ultra-exclusive 2016 version of the Back To The Future replica.
While the resale value is nowhere near the amount he spent, something tells me he won’t ever be letting these shoes leave his collection.
Each year, Nike releases a limited number of these shoes, meant to draw in cash for various charities. Since beginning this program, the show company has seen prices continue to climb, despite the resale value remaining relatively low in comparison.
In 2011, British rapper Tinie Tempah paid $37, 500 for one of 1,500 pairs. With a much higher number in production, it’s a no wonder the resale value never broke $10,000.
However, year after year, Nike continues to manufacture a lesser amount of shoe, making them more and more sought out by those die-hard collectors who can’t pass up an exclusive sneaker no matter what the high price tag might be.
Why so pricey, Nike?
Even for those individuals who aren’t familiar with the Back To The Future franchise, these shoes are pretty awesome.
The power-laces suction to the wearer’s feet, making them perfect for running or jumping. While these shoes will probably never actually get any use, they also make for a very interesting conversation piece. After all, owning one of just 89 pairs produced is enough to seemingly complete any shoe lovers collection.
Another reason the shoes catch such a high price is because much of the proceeds go to a variety of charities. Why not make a donation in a way that leaves donors with something to talk about?
Likewise, bidders are apt to pay more for something, even if it greatly exceeds the actual value, when they know the funds are being put to good use.
This isn’t even the highest sneaker price ever bid. When Kanye West released his Yeezy 2 Red October additions, they sold out almost immediately. The coveted shoe was being resold for insane amounts of money. One auction on eBay drew in over $17 million in bids.
While it’s unclear whether or not the hefty sum was ever actually paid, the rising price of these limited-edition shoes continues to bring in momentous amounts of cash.