NEW YORK • A new world record for a pair of sneakers was set at an auction on Tuesday when an avid collector splashed out US$437,500 (S$597,000) on Nike's 1972 Moon Shoe, Sotheby's said.

The sale smashed the previous record of US$190,373 paid in 2017 for a pair of signed Converse sneakers worn by Michael Jordan in the 1984 Olympic basketball final, the New York-headquartered auction house said in a statement. It was also well above the pre-sale estimate of US$160,000.

Canadian collector Miles Nadal was the successful bidder in the online action, adding the Nike sneakers to the 99 pairs of other hard-to-find shoes that he had bought in a private sale last week. "I am thrilled to acquire the iconic Nike Moon Shoe, one of the rarest pairs of sneakers ever produced, and a true historical artefact in sports history and pop culture," Mr Nadal, 61, said.

Nike co-founder Bill Bowerman designed the flat racing Moon Shoe, which was made for runners at the 1972 Olympic trials.

Sotheby's said only about 12 pairs were made and that the pair sold on Tuesday was "one of only a handful of pairs known to exist".

"We are excited that the iconic Nike Moon Shoe achieved more than double the previous world auction record for a sneaker today," said Sotheby's global e-commerce head Noah Wunsch.

The auction house joined up with streetwear marketplace Stadium Goods to sell 100 of the rarest sneakers ever made.

Mr Nadal spent US$850,000 buying 99 of them privately, with organisers holding back the Moon Shoe for a public sale.

He plans to display the footwear, which includes Nike sneakers based on those worn by Marty McFly in the hit movie Back To The Future II, at his private museum in Toronto.

AGENCE FRANCE-PRESSE