Asian buyers contributed to nearly half of the sale, which had surpassed expectations for the auction house, and proceeds went to the Virgil Abloh “Post Modern” Scholarship Fund
Since Virgil Abloh’s passing, his designs have been in as high demand as ever. Transcending the barriers between streetwear and luxury, his limited-edition trainers for the Louis Vuitton spring-summer 2022 collection in collaboration with Nike were especially coveted—and the numbers show.
Sotheby’s Louis Vuitton and Nike Air Force 1 online sale this month included 200 pairs of the trainers, and achieved a total US$25.3 million—more than eight times the expected amount. This broke multiple records for the auction house, including 100% of lots selling more than their estimate and the most bidders in any online sale.
Asian collectors were major players in the auction, as they comprised 40 per cent of total buyers and nearly one third of all bidders were from Asia. Younger bidders also drove record results, with 75 per cent of buyers new to Sotheby’s, and more than half were under 40.
See more: 5 Collectible Pieces Designed by Virgil Abloh You Should Own
Proceeds went to The Virgil Abloh “Post Modern” Scholarship Fund, which in partnership with the Fashion Scholarship Fund, supports promising students of Black, African American or African descent.
“We are thrilled that the record-breaking fundraising auction for Virgil Abloh’s Post Modern Scholarship Fund has generated such exceptional results,” said Michael Burke, Chairman and CEO of Louis Vuitton, adding, “We are proud that thousands of students will be able to benefit from the proceeds, allowing us to continue to uphold Virgil’s mission to inspire and support future generations.”
Peter Arnold, Executive Director, Fashion Scholarship Fund said, “We are extremely grateful for the generosity of Louis Vuitton, Nike and Sotheby's — and to all of Virgil's fans who placed bids— for helping us move the Virgil Abloh ‘Post-Modern’ Scholarship Fund forward, ensuring that Virgil’s vital initiative will endure.”
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