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Earlier this month, the historic auction house Sotheby’s announced the sale of a new contemporary object of desire. It was Kanye West’s Nike Air Yeezy 1, which sold yesterday for no less than $1.8 million.

Kanye's Nike Air Yeezy 1

The iconic trainers that Ye wore during his 50th Grammy performance, which subsequently became one of the industry’s most coveted collaborations, now have a new owner: the RARES marketplace. The sale marks a milestone for a publicly recorded sneaker sale, surpassing the likes of Nike’s “Moon Sneaker”, which sold for $437,500 at the time.

Gerome Sapp, CEO and co-founder of RARES, said of the significant purchase: “We are delighted to be working with Sotheby’s on this acquisition. Our goal in purchasing such an iconic trainer -and piece of history- is to increase accessibility and equip the communities that gave birth to trainer culture with the tools necessary to achieve financial freedom through RARES. We look forward to working with Sotheby’s to continue to identify rare finds that will help elevate, preserve and maintain trainer culture.”