Considered as the world’s most rare pair of shoes, Nike’s Moon Shoe was sold at an auction for $437,500, and has set a new world auction record for a pair of sneakers.

On Tuesday, Miles Nadal, a collector, paid $437,000 USD for the shoes.

Reports suggest that Miles Nadal will display the Moon Shoes at the Dare to Dream Automobile Museum, his private museum in Toronto.

The previous world auction record for a pair of sneakers was set 2 years ago, when a pair of converse shoes that Michael Jordan wore during the 1984 Olympic Basketball Final was sold for $190,373 USD.

The Michael Jordan converse shoes were waffle-soled running shoes that were designed by Bill Bowerman, the co-founder of Nike, for the 1972 Olympic Trials.

They are one of the 12 pairs that were ever made by the company and the only pair of sneakers that were known to be unworn set.

The starting price of the Moon Shoe was $80,000 and the final price shattered the pre-sale.

The shoes were part of the “Stadium Goods: the Ultimate Sneaker Collection” online auction.

Nadal also bought 99 other pairs of “rare” sneakers from the “Stadium Goods: the Ultimate Sneaker Collection” private sale.

It is reported that Nadal spent $850,000 on the 99 pairs of rare sneakers.