Nike Shoes Race to $437,500 World Record Auction Price for Sneakers

A pair of 1972 running shoes, one of the first pairs made by Nike Inc, sold for $437,500 on Tuesday, shattering the record for a pair of sneakers at public auction.

The so-called Nike "Moon Shoe," designed by Nike co-founder and track coach Bill Bowerman for runners at the 1972 Olympics trials, was the top lot in the first-ever auction dedicated to sneakers at Sotheby's auction house in New York.

Sotheby's said the price was a world auction record for a pair of sneakers. The buyer was...

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