Sotheby's Virgil Abloh x Nike 'Air Force 1' auction raised $25 million for charity — $25.3 Million for Virgil’s Scholarships

The recent Sotheby’s Louis Vuitton and Nike ‘Air Force 1’ by Virgil Abloh auction raised $25.3 million for the The Virgil Abloh™ “Post-Modern” Scholarship Fund. The tremendous response to the opportunity to own one of two hundred pairs of the limited-edition trainers made it the most valuable charitable sale at Sotheby’s in nearly a decade.

The auction house’s high estimate of the charity event was $3 million going into the event. Collectors from across Asia comprised 40% of the buyers, with bidding happening across 50 countries. Two-thirds of all bidders were under 40, as were more than half of the buyers.

For 75% of the buyers, it was their first time participating with Sotheby’s. The event set a new participation record for the total number of bids received on opening day as well as the number of bidders for the entire event.

“Today’s record-breaking auction, which saw unparalleled global participation, is a testament to Virgil Abloh’s legacy as one of the most visionary artists and designers of his generation whose widespread influence and impact is still palpable,” said Sotheby’s Chief Executive Officer Charles F Stewart.

‘We are thrilled that the record-breaking fundraising auction for Virgil Abloh’s Post Modern Scholarship Fund has generated such exceptional results. We are proud that thousands of students will be able to benefit from the proceeds, allowing us to continue to uphold Virgil’s mission to inspire and support future generations,’ said Michael Burke, Chairman and CEO of Louis Vuitton of the record-breaking charity sale.

Contributions to the VIRGIL ABLOH™ "POST-MODERN" SCHOLARSHIP FUND can be made here.