Nike Mags Sell In Hong Kong Live Auction For An Unfathomable Price

The shoes of the future will cost you more than an arm, a leg, and a small house to purchase.

Up until now, the only way to purchase Nike Mags required luck and a lot of it. In 2011, 1,500 pairs were auctioned off on eBay and the final sales were about $4.7 million. This year, in order to win the self-lacing shoes you had to purchase a $10 lottery ticket for a chance to win one of the 89 available pairs.

That all changed today when Nike began its three-city auction tour with the only pairs that are available for purchase. The first live auction happened in Hong Kong and the winning bid was HK$810,000, which is equivalent to $104,267 U.S. dollars.

$104,267 dollars. You read that correctly. To quote the legendary Doc Brown from Back To The Future:

If you buy shoes for $100,000, you are sick in the head. That is an unfathomable amount of money for a pair of sneakers. A PAIR OF SNEAKERS! Why buy a small house, pay off your debt, or save for your child’s college fund when you can blow your life savings on sneakers that you’ll probably be too afraid to wear? Then again, the people that are buying these shoes think of real dollars as monopoly money. It must be nice to have throwaway money.

The next two auctions will take place in London and New York City and experts say that the price will only increase. The only saving grace in this is all of the proceeds will go to the Michael J. Fox Foundation so you know what, I hope the price goes up in London and NYC.

100% of proceeds from tickets sold to win 89 pairs of self-lacing Nike Mags will go to Michael J. Fox Foundation

— Darren Rovell (@darrenrovell) October 4, 2016

  • 10678531520930918