Streetwear enthusiasts are buzzing about the jaw-dropping auction results for the Nike Dunk Low “Virgil Abloh™ x Futura Laboratories” collection, which saw prices soar to unprecedented heights. A staggering $107,950 USD were fetched for a size 10 pair in the highly sought-after orange colorway – an incredible 5,000 times more than the initial projected value of $2,000 – $4,000 USD.
The collaboration between Virgil Abloh™ and Futura Laboratories took the sneaker world by storm, with eight exclusive pairs going under the hammer at Sotheby’s. Bidding for the orange variation consistently outpaced the blue counterpart, with the least expensive orange pair (size 6) still commanding a hefty $57,150 USD. In comparison, the blue edition saw winning bids range from $25,400 USD for a size 5 pair to $82,550 USD for a size 11.
The auction’s proceeds will benefit the Virgil Abloh Foundation, a philanthropic initiative set to launch later this year under the umbrella of Virgil Abloh Securities. The foundation’s mission is to empower young creatives from diverse backgrounds to pursue careers in the arts. In addition, the Virgil Abloh Foundation will donate 50% of its proceeds to other notable organizations such as the Art for Justice Fund, Innocence, and the Boys & Girls Club of America – all handpicked by Futura himself.