The self-lacing Nike MAG is one of the greatest innovations in sneaker history as it stands today. Which, more often than not, begs the question: what is this Nike MAG actually worth? Well, according to a recent auction in Hong Kong, a hell of a lot.
Nike held a charity auction in Hong Kong Tuesday for just one of the 89 pairs of the shoe produced globally. The shoe sold for a ridiculous HK$810,000, which rounds out to about $104,000 USD.
This auction price won’t at all match what the shoe could go for once pairs of the 2016 edition eventually hit the secondary market. In 2011, the median was well below $10,000. There was, of course, a massive $37,500 price tag paid by UK artist Tinie Tempah.
Nike’s drawing system for the 2016 Nike MAG, which is accessible through the Nike+ app, closes later tonight at 11:59pm. Winners will be notified on October 17. Two more auctions for the shoe will take place with one held in London and the other taking place in New York City. Stay tuned for more details.