The first round of 2011 Nike Mag auctions have ended and the final tally is much higher than any expected. The first 150 pairs reportedly raised an amazing $921,290 for The Michael J. Fox Foundation. The average per pair rounds out to approximately $6,100 per pair. Pretty hefty price tag for a pair of kicks that are more of a collectible than they are club attire.
I’ve heard varied responses regarding how Nike approached the release for such a coveted shoe. To outsiders of the sneaker community, auctioning off a shoe seems unheard of but, for us, it’s all in the game. In this case, auctioning the sneakers makes the most sense since demand well exceeded supply so Nike let the market set the value and determine who gets their hands on the shoes. Fair game. You pay to play or develop connections to help acquire the kicks you want. I want a pair but I’m not foolish enough to think $6K for a pair of kicks is something my wallet can stomach. Paying more than $120 for a pair of kicks is enough to piss me off and second-guess buying. Still, I’m very happy to see the shoe finally make it to production because they’re a mythical part of the sneaker history actualized.
At the end of the day, the proceeds go to charity. Again, charity. Not to a corporation or even resellers. Anybody still moaning about not getting a pair should take a long, hard look in the mirror.
Update: Day two totals weren’t ask much as the first batch, raising $652K according to Sneaker Watch. With an average price of $4,500 per pair, we could all very well be able to afford a pair by the time the last round rolls around.
H/T: Darren Rovell