The New York auction house, Sotheby has confirmed that Nike’s rarest sneaker ‘Moon Shoe’ has been sold for a record $437,500 (£351, 722).

The 1972 Nike Waffle Racing Flat Moon Shoe was designed by the brand’s co-founder, Bill Bowerman and was expected to fetch $160,000. It was reportedly the last shoes to sell in an auction of 100 pairs of trainers-from Jordan Air to Adidas, in New York.

Only 12 pairs of the Moon Shoe were manufactured and the set sold on Tuesday was ‘one of only a handful of pairs to exist’.

Miles Nadal, the Canadian collector paid $850,000 for the other 99 pairs at the auction and plans to display the sneakers at his private museum-Dare to Dream Automobile Museum in Toronto.

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