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Top 10 most expensive sneakers ever sold: These Michael Jordan's game-worn kicks cost more than a Bugatti

Top 10 most expensive sneakers ever sold: These Michael Jordan's game-worn kicks cost more than a Bugatti

Indian Express7 hours ago

10 most expensive sneakers in the world: What began as a subculture rooted in basketball courts, hip-hop videos, and skate parks has exploded into one of the most influential and lucrative corners of the fashion world. In today's world, sneakers are status symbols, considered investments, and sometimes, even museum-worthy art pieces.
Gone are the days when sneakers were just about comfort or athletic performance. Now, sneakerheads are lining up for days, entering raffles, and shelling out thousands to even lakhs of rupees for that one elusive pair. Collaborations with celebrities, designers, and artists – from Kanye West to Travis Scott – have only added rocket fuel to this phenomenon, turning rare sneakers into objects of desire that rival luxury watches and designer handbags.
In July 2019, the game changed forever for sneakerheads and collectors. That was when Sotheby's made headlines with its first-ever sneaker auction, selling a pair of ultra-rare 1972 Nike 'Moon Shoes' for a staggering $437,000, nearly three times the estimated $150,000 price tag. Just ten months later, in May 2020, the same auction house topped its own record by selling a signed pair of Air Jordan 1s for an eye-popping $560,000.
As The World's Greatest Sneaker Collections editor Woody puts it, these jaw-dropping figures aren't just milestones for collectors. They signal something bigger: the arrival of wealthy investors treating sneakers as the next frontier in high-value assets. Since those historic auctions, the private market for rare kicks has gone into overdrive, with prices soaring to mind-boggling levels. 'Looking back, those early numbers almost seem like a steal,' Woody notes, 'if you can wrap your head around the idea of worn sneakers costing as much as real estate.'
And it's only getting crazier. With the rise of sneaker auctions and ever-growing interest in one-of-a-kind pairs and game-worn icons, the ceiling keeps climbing. Whether it's a piece of sports history or an ultra-exclusive design, these sneakers are redefining what collectibles can be. So, get ready–we're counting down the most expensive sneakers ever sold, and the list is nothing short of wild.
In 1972, when Nike was still taking its first steps as a brand, co-founder and track coach Bill Bowerman crafted one of the earliest performance sneakers in its history. Nicknamed the 'Moon Shoes' due to their unique waffle-pattern soles that left prints resembling those of astronauts, only around a dozen pairs were ever made. These handmade prototypes were distributed to athletes competing in the United States Track & Field Olympic Trials in Eugene, Oregon, and eventually went on to inspire the launch of Nike's iconic Waffle Trainer in 1974.
Decades later, in 2019, these relics from Nike's earliest days made headlines again–this time for setting a new benchmark in the world of sneaker collecting. Sold at a Christie's auction, the Moon Shoes became the first sports sneakers to break into the auction world, helping to legitimise a niche that has only grown bigger since. Though experts initially valued the pair at around $160,000, the final bid soared to nearly three times that amount. The buyer, Canadian entrepreneur Miles Nadal, described the shoes as nothing less than 'a true piece of sports and pop culture history.'
Just a few months earlier, yet another pair of Air Jordan 1s had made auction history—setting a new benchmark for the highest price ever paid for sneakers at the time (surpassing the 2019 record listed below). This particular pair, worn by Michael Jordan himself during a game in his rookie season and bearing his signature, became the center of a bidding frenzy. As the 10-day auction neared its close, the offers skyrocketed by a jaw-dropping $300,000 in the final hours, ultimately selling for an astonishing $560,000.
On April 12, 2013, Kobe Bryant etched his name into sports legend with one of the grittiest performances of his career. Midway through a game against the Golden State Warriors, he tore his Achilles tendon–yet remarkably, he stayed on the floor, scored a total of 32 points, and even sank two crucial free throws while barely able to stand. It was a defining moment of his relentless 'Mamba Mentality'.
So, it came as no shock when, in February 2025, the sneakers he wore during that iconic night–drenched in Lakers purple and gold–fetched a jaw-dropping price at Sotheby's, soaring past the half-a-million-dollar mark.
In August 2020, riding the wave of The Last Dance frenzy, a pair of game-worn Air Jordan 1s made headlines after selling for over $500,000 at a Christie's auction. The shoes, worn by Michael Jordan during an exhibition game in Italy, were expected to hit around $850,000 but still drew massive attention.
What set this pair apart? A piece of shattered glass lodged in the sole–reportedly from the very backboard Jordan broke with a dunk during that game. (Not to be confused with the later 'Shattered Backboard' sneakers.) That same auction also saw another pair, worn during the 1992 Olympic gold medal match, go for more than $100,000.
After Game 5 of the 1998 NBA Finals, Utah Jazz ball boy Preston Truman received an unforgettable gift: the sneakers Michael Jordan wore during his legendary 'Flu Game' performance. Battling food poisoning, Jordan led the Bulls to victory in what became one of the most iconic games of his career.
In 2020, capitalizing on the buzz from The Last Dance documentary and renewed interest in Air Jordans, Truman sold the black-and-red Air Jordan 12s to Grey Flannel Auctions for just over $200,000. By 2023, the same pair fetched a staggering $1.38 million at auction.
However, the story took a twist–Truman later sued the auction house, alleging he was pressured into the original sale. That legal battle is still unfolding, but one thing's certain: few sneakers carry the weight of basketball history quite like these.
When a pair of Nike Air Ships worn by Michael Jordan sold for nearly $1.5 million at Sotheby's in late 2021, they briefly held the title of the most expensive sneakers ever and still rank among the priciest sports memorabilia in history. Worn during Jordan's fifth NBA game in 1984, the Air Ships are legendary–not just for their rarity, but because they predate his iconic Air Jordan line. As the first sneakers he wore in the league, they represent a pivotal moment in both basketball and sneaker culture.
It's not just Jordans dominating the luxury sneaker scene. In spring 2021, Sotheby's made headlines again with the sale of a one-of-a-kind pair of Nike Air Yeezy prototypes – the very pair Kanye West wore during his 2008 Grammy performance. The price was over $1 million, marking the first time sneakers crossed the million-dollar mark.
The historic purchase was made by investment platform RARES. Its founder, Gerome Sapp, described the move as a way to make sneaker culture more accessible and financially empowering for the communities that built it – calling the Yeezys 'a piece of history.'
Los Angeles-based conceptual artist Matt Senna is known for turning iconic sneakers into resin sculptures, typically sold in limited runs for around $450. But in 2020, he pushed the envelope by creating a one-of-a-kind Air Jordan 10 entirely out of 24-karat gold. Commissioned by none other than Drake, the shoes aren't wearable–each weighs about 100 pounds–but they earn a spot on this list purely for their bold, over-the-top brilliance.
After ESPN's The Last Dance reignited global fascination with Michael Jordan in 2020, demand for sneakers tied to his legendary final season soared. In a landmark Sotheby's sale last year, a pair of Air Jordan 13s–worn by MJ during Game 6 of the 1998 NBA Finals–sold for a jaw-dropping $2.2 million.
The iconic 'Bred' colorway sneakers, still in impressive shape despite their game-worn status, became one of the most expensive sports shoes ever sold–proving once again that when it comes to sports memorabilia, Jordan reigns supreme.
Earlier this year, Sotheby's made sneaker history by selling the 'Dynasty Collection' for a record-breaking $8 million–the highest sneaker sale in the auction house's history.
The collection featured eight individual sneakers, each worn by Michael Jordan during the NBA Finals across eight different seasons. The origin of this unique collection dates back to 1991, when Bulls PR officer Tim Hallam asked Jordan for one of his game-worn shoes–a tradition MJ continued after every Finals series. These are the unmatched sneakers he kept.
What made the sale even more remarkable? None of the shoes came as pairs. The lot was accompanied by signed photos of Jordan–wearing just one sneaker–after each championship win, captured by photographer Bill Smith.
Source: GQ

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Top 10 most expensive sneakers ever sold: These Michael Jordan's game-worn kicks cost more than a Bugatti
Top 10 most expensive sneakers ever sold: These Michael Jordan's game-worn kicks cost more than a Bugatti

Indian Express

time7 hours ago

  • Indian Express

Top 10 most expensive sneakers ever sold: These Michael Jordan's game-worn kicks cost more than a Bugatti

10 most expensive sneakers in the world: What began as a subculture rooted in basketball courts, hip-hop videos, and skate parks has exploded into one of the most influential and lucrative corners of the fashion world. In today's world, sneakers are status symbols, considered investments, and sometimes, even museum-worthy art pieces. Gone are the days when sneakers were just about comfort or athletic performance. Now, sneakerheads are lining up for days, entering raffles, and shelling out thousands to even lakhs of rupees for that one elusive pair. Collaborations with celebrities, designers, and artists – from Kanye West to Travis Scott – have only added rocket fuel to this phenomenon, turning rare sneakers into objects of desire that rival luxury watches and designer handbags. In July 2019, the game changed forever for sneakerheads and collectors. That was when Sotheby's made headlines with its first-ever sneaker auction, selling a pair of ultra-rare 1972 Nike 'Moon Shoes' for a staggering $437,000, nearly three times the estimated $150,000 price tag. Just ten months later, in May 2020, the same auction house topped its own record by selling a signed pair of Air Jordan 1s for an eye-popping $560,000. As The World's Greatest Sneaker Collections editor Woody puts it, these jaw-dropping figures aren't just milestones for collectors. They signal something bigger: the arrival of wealthy investors treating sneakers as the next frontier in high-value assets. Since those historic auctions, the private market for rare kicks has gone into overdrive, with prices soaring to mind-boggling levels. 'Looking back, those early numbers almost seem like a steal,' Woody notes, 'if you can wrap your head around the idea of worn sneakers costing as much as real estate.' And it's only getting crazier. With the rise of sneaker auctions and ever-growing interest in one-of-a-kind pairs and game-worn icons, the ceiling keeps climbing. Whether it's a piece of sports history or an ultra-exclusive design, these sneakers are redefining what collectibles can be. So, get ready–we're counting down the most expensive sneakers ever sold, and the list is nothing short of wild. In 1972, when Nike was still taking its first steps as a brand, co-founder and track coach Bill Bowerman crafted one of the earliest performance sneakers in its history. Nicknamed the 'Moon Shoes' due to their unique waffle-pattern soles that left prints resembling those of astronauts, only around a dozen pairs were ever made. These handmade prototypes were distributed to athletes competing in the United States Track & Field Olympic Trials in Eugene, Oregon, and eventually went on to inspire the launch of Nike's iconic Waffle Trainer in 1974. Decades later, in 2019, these relics from Nike's earliest days made headlines again–this time for setting a new benchmark in the world of sneaker collecting. Sold at a Christie's auction, the Moon Shoes became the first sports sneakers to break into the auction world, helping to legitimise a niche that has only grown bigger since. Though experts initially valued the pair at around $160,000, the final bid soared to nearly three times that amount. The buyer, Canadian entrepreneur Miles Nadal, described the shoes as nothing less than 'a true piece of sports and pop culture history.' Just a few months earlier, yet another pair of Air Jordan 1s had made auction history—setting a new benchmark for the highest price ever paid for sneakers at the time (surpassing the 2019 record listed below). This particular pair, worn by Michael Jordan himself during a game in his rookie season and bearing his signature, became the center of a bidding frenzy. As the 10-day auction neared its close, the offers skyrocketed by a jaw-dropping $300,000 in the final hours, ultimately selling for an astonishing $560,000. On April 12, 2013, Kobe Bryant etched his name into sports legend with one of the grittiest performances of his career. Midway through a game against the Golden State Warriors, he tore his Achilles tendon–yet remarkably, he stayed on the floor, scored a total of 32 points, and even sank two crucial free throws while barely able to stand. It was a defining moment of his relentless 'Mamba Mentality'. So, it came as no shock when, in February 2025, the sneakers he wore during that iconic night–drenched in Lakers purple and gold–fetched a jaw-dropping price at Sotheby's, soaring past the half-a-million-dollar mark. In August 2020, riding the wave of The Last Dance frenzy, a pair of game-worn Air Jordan 1s made headlines after selling for over $500,000 at a Christie's auction. The shoes, worn by Michael Jordan during an exhibition game in Italy, were expected to hit around $850,000 but still drew massive attention. What set this pair apart? A piece of shattered glass lodged in the sole–reportedly from the very backboard Jordan broke with a dunk during that game. (Not to be confused with the later 'Shattered Backboard' sneakers.) That same auction also saw another pair, worn during the 1992 Olympic gold medal match, go for more than $100,000. After Game 5 of the 1998 NBA Finals, Utah Jazz ball boy Preston Truman received an unforgettable gift: the sneakers Michael Jordan wore during his legendary 'Flu Game' performance. Battling food poisoning, Jordan led the Bulls to victory in what became one of the most iconic games of his career. In 2020, capitalizing on the buzz from The Last Dance documentary and renewed interest in Air Jordans, Truman sold the black-and-red Air Jordan 12s to Grey Flannel Auctions for just over $200,000. By 2023, the same pair fetched a staggering $1.38 million at auction. However, the story took a twist–Truman later sued the auction house, alleging he was pressured into the original sale. That legal battle is still unfolding, but one thing's certain: few sneakers carry the weight of basketball history quite like these. When a pair of Nike Air Ships worn by Michael Jordan sold for nearly $1.5 million at Sotheby's in late 2021, they briefly held the title of the most expensive sneakers ever and still rank among the priciest sports memorabilia in history. Worn during Jordan's fifth NBA game in 1984, the Air Ships are legendary–not just for their rarity, but because they predate his iconic Air Jordan line. As the first sneakers he wore in the league, they represent a pivotal moment in both basketball and sneaker culture. It's not just Jordans dominating the luxury sneaker scene. In spring 2021, Sotheby's made headlines again with the sale of a one-of-a-kind pair of Nike Air Yeezy prototypes – the very pair Kanye West wore during his 2008 Grammy performance. The price was over $1 million, marking the first time sneakers crossed the million-dollar mark. The historic purchase was made by investment platform RARES. Its founder, Gerome Sapp, described the move as a way to make sneaker culture more accessible and financially empowering for the communities that built it – calling the Yeezys 'a piece of history.' Los Angeles-based conceptual artist Matt Senna is known for turning iconic sneakers into resin sculptures, typically sold in limited runs for around $450. But in 2020, he pushed the envelope by creating a one-of-a-kind Air Jordan 10 entirely out of 24-karat gold. Commissioned by none other than Drake, the shoes aren't wearable–each weighs about 100 pounds–but they earn a spot on this list purely for their bold, over-the-top brilliance. After ESPN's The Last Dance reignited global fascination with Michael Jordan in 2020, demand for sneakers tied to his legendary final season soared. In a landmark Sotheby's sale last year, a pair of Air Jordan 13s–worn by MJ during Game 6 of the 1998 NBA Finals–sold for a jaw-dropping $2.2 million. The iconic 'Bred' colorway sneakers, still in impressive shape despite their game-worn status, became one of the most expensive sports shoes ever sold–proving once again that when it comes to sports memorabilia, Jordan reigns supreme. Earlier this year, Sotheby's made sneaker history by selling the 'Dynasty Collection' for a record-breaking $8 million–the highest sneaker sale in the auction house's history. The collection featured eight individual sneakers, each worn by Michael Jordan during the NBA Finals across eight different seasons. The origin of this unique collection dates back to 1991, when Bulls PR officer Tim Hallam asked Jordan for one of his game-worn shoes–a tradition MJ continued after every Finals series. These are the unmatched sneakers he kept. What made the sale even more remarkable? None of the shoes came as pairs. The lot was accompanied by signed photos of Jordan–wearing just one sneaker–after each championship win, captured by photographer Bill Smith. Source: GQ

Sean ‘Diddy' Combs' son Christian teams up with Kanye West for Diddy Free song
Sean ‘Diddy' Combs' son Christian teams up with Kanye West for Diddy Free song

Hindustan Times

timea day ago

  • Hindustan Times

Sean ‘Diddy' Combs' son Christian teams up with Kanye West for Diddy Free song

With Sean 'Diddy' Combs facing the final days of his high-profile federal trial in New York City, his son Christian 'King' Combs and rapper-producer Kanye West have released a defiant new music project titled Never Stop. According to a Variety report, the seven-track extended play (EP), which dropped on Friday on all streaming platforms, has a bold and emotional tribute titled Diddy Free. File photo of Christian 'King' Combs(REUTERS) According to the report, Kanye, who is now legally known as Ye, is the producer and executive producer of the project. The play stands as both a musical statement and a personal act of loyalty. According to the report, in the track Diddy Free, 'King' Combs passionately raps, saying no one is going to sleep until they see 'Diddy free'. In another lyric from the rap, which was yet another direct reference to the ongoing trial against his father, Christian claimed that the trial was a way to malign Sean Combs' image. Sean 'Diddy' Combs is currently standing trial for federal sex trafficking and racketeering charges. If convicted, the musician could face life in prison. EP features Kanye West aka Ye's daughter North West The Variety report added that the Never Stop EP also featured a surprise guest: North West, the 11-year-old daughter of Kanye West and Kim Kardashian. Reportedly, she made an appearance on the track Lonely Roads and it has added a family-driven layer to the release. Kanye West, who is known for his songs like Runaway, Heartless, and Flashing Lights, has publicly shown support for Sean 'Diggy' Combs during the trial. Reportedly, he even made a brief court appearance earlier this month. Speaking to the reporters outside the courthouse, Kanye had said he was there to stand by his longtime friend. Sean 'Diddy' Combs' Defense calls case 'a false trial' Meanwhile, inside the Manhattan courtroom on Friday morning, Diddy's defense team presented their closing arguments. They argued that the federal case against the musician was based on falsehoods and consensual relationships. Reportedly, they described Combs' lifestyle as part of a 'swingers' culture rather than a criminal enterprise. The counsel insisted there was no evidence of non-consensual sex trafficking or organized racketeering, the Variety report stated. They reiterated that the case was a character assassination based on hearsay and distorted narratives. ALSO READ: Sean 'Diddy' Combs' lawyer says prosecutors trying to criminalize his 'private sex life' FAQs: Q: What is the Never Stop EP about? A: It's a seven-song project led by Christian Combs and Kanye West, expressing support for Sean Combs during his ongoing federal trial. Q: What is the song 'Diddy Free' about? A: The track defends Diddy, denounces critics and witnesses, and calls for his release amid the trial. Q: What is Diddy being charged with? A: Diddy faces multiple counts of sex trafficking and racketeering. He has pleaded not guilty.

The Stoic Capitalist: An exclusive excerpt from the book by Wall Street titan Robert Rosenkranz
The Stoic Capitalist: An exclusive excerpt from the book by Wall Street titan Robert Rosenkranz

Hindustan Times

time2 days ago

  • Hindustan Times

The Stoic Capitalist: An exclusive excerpt from the book by Wall Street titan Robert Rosenkranz

Every two years, the Whitney Museum in New York showcases works by America's most promising up-and-coming artists in a highly publicized exhibition. Being selected for the Whitney Biennial can transform an artist's life. It brings newcomers to the attention of prominent gallerists looking to add fresh faces to their rosters and to collectors eager to stay abreast of the competition for emerging talent. . However, if you look up the Biennial's catalogs from a decade ago, you will find that most of the artists they heralded now languish in obscurity. Few have important dealers; fewer still have a strong and consistent auction market for their work. Page through Sotheby's and Christie's auction catalogs of contemporary art from a decade ago, and the story is much the same. The art world is in large part a fashion culture, constantly in flux. So, it should be no surprise that investing in art is trickier than, say, buying stocks, and almost always less lucrative. Most contemporary work auctioned a decade ago would not be salable today at a price that could cover the original hammer price, plus the twenty-five percent commission auction houses typically charge, plus the nine percent sales tax a New York resident would have had to pay…not to mention what all this money might have earned over the period in a typical stock market portfolio. There would be notable exceptions, of course, and those are the ones that make headlines. The best that can be said is that if you can afford to buy the finest works by the most prominent artists, and you have first-rate professional advice, you have a reasonable chance to make a decent return. Otherwise, investor beware. Owning art is one of the great attractions of wealth, but you should never mistake it for a great investment. Then why is buying art a great idea? Simply because to own a work of art is its own reward. You can experience art in museums, but it will not enhance your life nearly as much as living with it every day. Nor will it require of you the focus that should be part of the decision to exchange your hard-earned money for an artist's work. As a collector, you will be part of a community that includes artists, curators, gallerists, and other collectors with shared interests. Equally important, each object you buy can be a catalyst for learning. That too is life-enhancing. As soon as I could afford to buy art, I started to collect modern Chinese ink paintings. My mentor in the field was a British scholar/collector/dealer named Hugh Moss, who I met through my Shanghainese friend, Jimmy King. Hugh divided his time between Old Surrey Hall, a vast pile in Surrey with Elizabethan antecedents, and a scholarly retreat on a sparsely populated hillside in Hong Kong. He styled himself a modern Western reincarnation of a Chinese literatus. Historically, the literati were a class of scholar/officials who played prominent roles in Chinese culture and often served in high government posts. They collected meticulously crafted furniture of simple design, brush pots, ancient jade artifacts, snuff boxes and 'scholar's rocks'—unusually shaped stones thought to embody nature's mysterious forces. The literati tradition of landscape painting persisted even after the Communist revolution and Mao's Great Leap Forward. It was the modern expression of that tradition I focused on. There was much that drew me to the genre. I was fascinated that the artists had classical training and technical skill, while their growing exposure to Western influences was encouraging them to experiment with scale, with color, and with abstraction. … I liked the hanging-scroll format of these works, because it let me readily change the paintings I had on display and experience them with fresh eyes. (The Chinese would no more show the same painting all the time than we would play the same music again and again.) Conveniently for me at that early stage in my career, the prices were modest, yet at the same time the genre was so rarified that I could be one of a handful of serious collectors and have access to the best material from the leading dealers. I was not expecting these ink paintings to be good investments, nor did they prove to be. But I stayed with them, accumulating more than fifty over the course of a decade. When I was finally ready to move on, I donated the bulk of the collection to the Harvard University Art Museum, whose senior curator, Robert Mowry, was building perhaps the finest institutional collection in the US. By the 1990s, my interest in art shifted to China's ancient traditions—what my then muse, now wife Alexandra Munroe called a step 'forward into the past.' Hugh Moss again played a pivotal role. He alerted me to the availability of a magnificent Tang dynasty horse which he regarded as one of the finest objects to appear on the market in years. Hugh introduced me to Giuseppe Eskanazi, a preeminent London dealer who was showing the work in New York. Eskanazi was surprised that a beginning collector he had never heard of would buy such an object. The price was hardly modest, but this time I did feel it would be a good investment, because China was fast becoming prosperous, and I expected that collectors there would ultimately spend heavily for outstanding examples of their cultural heritage. … Since I bought it in 1995, the Tang horse has held pride of place at my Manhattan apartment: it stands in solitary splendor on an art deco console in the living room and is the first thing to catch your eye as you enter. Starting with such a great object set the bar for the rest of the collection, which evolved with a focus on Buddhist sculpture. Wen Fong, then head of Asian art at the Metropolitan Museum of Art, was generous with his advice, and I made the Met my standard. When a dealer or an auction house had an object that I found intriguing, I would go to the Met and see if they had a better example. If they did, I would pass. As a result, I bought only a handful of objects each year. This pace suited me well. While I enjoyed living with these works, which often combined physical beauty and spiritual power, they were also a challenge. Fakes were not uncommon, and even top dealers could occasionally be fooled. I felt a need to know why and how they were made and what they signified, lessons that often took time to absorb. … Part of the reason I responded to Buddhist art was the connection between Buddhist and Stoic philosophical systems. Both encourage the cultivation of virtue, though one approach focuses on spirituality, the other on rationality. Both emphasize mindfulness, which Buddhism seeks through meditation; Stoicism through concentration, focus, and elimination of distractions. The Stoic concept of impermanence and change echoes the Buddhist idea of detachment. Neither philosophy is incompatible with worldly splendor, provided it occupies a moderate share of one's psychic space. Seneca was among the wealthiest men in Rome and the most influential of Stoic philosophers. The Buddha was a prince who renounced worldly goods for an ascetic life and is always depicted in simple robes. In his pantheon are bodhisattvas, who are typically portrayed in elegant, princely garb with elaborate jewelry. My favorite bodhisattva is Vimalakirti.. (He) lived lavishly and had a passion for debate. When Buddha's other followers criticized Vimalakirti's style of life, he argued that they were seeing only the surface of things and echoing a conventional understanding of wealth and poverty. In contrast, he believed in 'non duality'—the idea that one could be fully engaged in the world, could enjoy material possessions without becoming attached to them, and find true wealth in spiritual insight, compassion, and wisdom. … My expectation about China's economic growth, and the demand it would stoke for the nation's cultural icons, proved correct. The value of my collection has probably increased fivefold. Five times sounds like a fine return, but it is far less than the stock market returned over the same period. Since I have no intention of selling, that doesn't matter very much to me anyway; what did matter was that great objects were no longer 'coming out' of China, and the window of opportunity to add to my collection closed. I adapted quite radically, stimulated by seeing some extraordinary private collections of time-based media, video art, and the intersection of art and technology. My focus shifted from the past to the here and now, from objects to experiences, and from a category with reasonable investment prospects to one with little financial upside. It struck me that video was the natural language of young people, of a whole generation that gets most of its information from screens, and does most of its communicating on devices. Some artists were doing very innovative work, enabled in part by rapidly changing technology ranging from cameras that make a thousand images a second, to facial recognition software, to artificial intelligence, to virtual reality. Other artists were basing their work on video games, often with an ironic critique of the aggressiveness and gender stereotypes they embody. While I had enjoyed learning the history, now I enjoyed getting to know artists. I found that I had a good rapport with many of those I met and quite a few have become real friends. Doug Aitken has been aptly described as the best dinner company the art world has produced. He has surfer dude good looks, boyish curiosity about virtually any topic you introduce, and the charm and skill of an accomplished raconteur. He resists the confines of the museum and is eager to project his art into unexpected places. This penchant for the unexpected is central to a work in my collection, Migration, set in a series of cheap motel rooms reminiscent of B-movies. The motels are mostly in desolate industrial settings in a landscape devoid of people. Into each motel room, he introduces a different species of wild animal. A horse stares in bewilderment at a TV set, a beaver frolics in a bathtub, a mountain lion attacks a pillow as if it is his prey, a buffalo overturns a lamp and crashes a telephone to the floor. The result is sometimes poignant, sometimes hilarious—and a metaphor for the struggles of human migrants to find their footing while adapting to unfamiliar environs. … Because there were relatively few collectors, I had the opportunity to be among the leaders in the field. The small universe of potential buyers kept prices reasonable, which in turn meant that the artists were making their work with the purest of motives. … Video art is a challenging area for museums too. Some museums have large collections, excellent curators, and strong technical staff. However, visitors to museums typically expect to enter a gallery with a dozen or more paintings or sculptures and spend less than a minute with each. They do not expect to engage with a single work of art for ten minutes or more. It's not that visitors have short attention spans; they go to operas, ballets, concerts, movies, and theater. But those activities are done sitting down in the evenings, not standing up in the daytime. I have long felt that if video art is to offer the kind of immersive experiences the artists intended, a new kind of cultural institution is needed—a hybrid between a museum and a performing arts venue. As a venture philanthropist, I am excited to help create such an institution. I have taken a giant step by acquiring a 40,000-square-foot venue in Manhattan's Lower East Side, which we are calling Canyon. It will incorporate the latest technology, and it will showcase both established masters and exciting new talent. I hope it will become a 'must see' destination for lovers of contemporary art. It will be open in the evening to attract new, younger, and more diverse audiences, drawn by the dramatic, experiential nature of its exhibitions. (Excerpted with permission from The Stoic Capitalist: Advice for the Exceptionally Ambitious by Robert Rosenkranz, published by Bloomsbury; 2025)

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