A pair of 2016 Nike Air Mag fetched a whopping US$52,000 at a public auction.
This is the highest bid amount the online auction house, Heritage Auctions, has ever received for a collectible sneaker, according to Mashable.
The previous record for the auction house was US$32,500. According to StockX, the average resale price for the Nike Mag is US$28,055.
Here are some reasons why the pair sold by Heritage Auctions fetched a hire price. The size US 11 sneakers comes with a card signed by Tinker Hatfield. Additionally, images such as the one below show that the sneakers are in mint condition.
The Nike Mag was popularized after its brief appearance in the hit film Back to the Future 2. To add to its value, Nike reports that only 89 pairs of self-lacing Nike Mags were available for purchase during its limited release in 2016.
The sneakers were auctioned off by Heritage Auctions as part of its “The Future is Now” collection, which features a mix of rare pop culture items, sneakers, and street art. Highlights include Futura’s 2000’s Untitled painting (here) as well as a silkscreened self-portrait of Andy Warhol on a t-shirt (here).