On the same day the Olympic Games opens this month, Sotheby's will put on sale running shoes made by Nike's co-founder for 1960s Olympian Harry Jerome that could fetch $1 million.
The rare pair of track and field spikes designed by Bill Bowerman for Jerome, a Canadian sprinter who won 100-metre bronze at the 1964 Tokyo Games, features a red arrow that was a prelude to the famous Nike swoosh logo.
Sotheby's New York will put the white lace-up shoes on sale online from Friday, July 23 to Monday, August 2.
The auction house estimates that they could go for between $800,000 and $1.2m.
The sale comes as the market for rare sports shoes, previously seen as niche, soars.
In April, a pair of Nike Air Yeezy 1s worn by rapper Kanye West sold for $1.8m, triple the previous record for sneakers.
The shoes beat the record held by a pair of Nike Air Jordan 1s, which sold for $615,000 in August 2020 at a Christie's auction.
Sotheby's said the shoe by Bowerman, who founded Nike with Phil Knight, "represents an important chapter in the origins of the Nike brand".
The auction house is also selling a pair of Converse Fastbreak sneakers that basketball legend Michael Jordan wore during the 1984 Olympic trials.
They are expected to fetch up to $100,000.
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
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Benefits of first-time home buyers' scheme
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Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
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Gothia Cup 2025
4,872 matches
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76 nations
26 UAE teams
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'Young girls thinking of big ideas'
Words come easy for aspiring writer Afra Al Muhairb. The business side of books, on the other hand, is entirely foreign to the 16-year-old Emirati. So, she followed her father’s advice and enroled in the Abu Dhabi Education Council’s summer entrepreneurship course at Abu Dhabi University hoping to pick up a few new skills.
“Most of us have this dream of opening a business,” said Afra, referring to her peers are “young girls thinking of big ideas.”
In the three-week class, pupils are challenged to come up with a business and develop an operational and marketing plan to support their idea. But, the learning goes far beyond sales and branding, said teacher Sonia Elhaj.
“It’s not only about starting up a business, it’s all the meta skills that goes with it -- building self confidence, communication,” said Ms Elhaj. “It’s a way to coach them and to harness ideas and to allow them to be creative. They are really hungry to do this and be heard. They are so happy to be actually doing something, to be engaged in creating something new, not only sitting and listening and getting new information and new knowledge. Now they are applying that knowledge.”
Afra’s team decided to focus their business idea on a restaurant modelled after the Leaning Tower of Pisa. Each level would have a different international cuisine and all the meat would be halal. The pupils thought of this after discussing a common problem they face when travelling abroad.
“Sometimes we find the struggle of finding halal food, so we just eat fish and cheese, so it’s hard for us to spend 20 days with fish and cheese,” said Afra. “So we made this tower so every person who comes – from Africa, from America – they will find the right food to eat.”
rpennington@thenational.ae
KILLING OF QASSEM SULEIMANI
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