With raffle entries for the Nike Mag “Back to the Future II” sneakers coming to an end today, the auctions for the coveted shoes are just getting underway.
The first in a series of live auctions for five of the 89 existing pairs of Nike Mags took place today in Hong Kong. The auction was announced on Oct. 4, but it’s the outcome of the bidding war that is truly shocking. According to Nike, the self-lacing Mag sneakers sold for HK$810,000, which converts to approximately $104,393.55 as of 2:30 p.m. ET today.
With this astonishing figure in mind, it will be interesting to see how the upcoming auctions in London and New York City turn out. As the remaining pairs dwindle, it could likely drive the price up even more.
If you can’t afford to place a bid, there’s still a chance to own the buzzed-about sneakers. Entries for Nike’s The Draw raffle will remain open until 11:59 p.m. ET today. Each entry is priced at $10, and there is no limit to the amount of tickets one person can buy. Winners will be notified on Oct. 17.
All proceeds from Nike’s The Draw raffle will benefit the Michael J. Fox Foundation in its mission to end Parkinson’s disease. To make the deal even sweeter, the Michael J. Fox Foundation has announced that it will match every remaining donation.