The New Luxury: Why Sneakers are Like Rare Works of Art
Low is the new high in the world of modern luxury, and much of the thanks (or derision) for this phenomenon goes to the humble sneaker. The sports and leisure shoe has morphed from a utilitarian and affordable item of footwear into a prized collectible worthy of the attention of a high-end auction house. Why are vintage sneakers now being treated like prized works in the contemporary art market? High auction houses like Sotheby’s and Christie’s are holding vintage Air Jordan luxury sneaker sales this summer, as athletic shoes are quickly becoming the hot new collectible item. Luxury sneaker as collectible art? Watch your back, watches. They’re coming for you.
