In 2021, a pair of Nike Air Yeezys was sold for $1.8 million. However, their value has now decreased significantly, with the sneakers currently worth only $180,000.

Just two years ago, a pair of sneakers worn by Kanye West at the 2008 Grammys set a new record as the most expensive sneakers ever sold. The auction, hosted by Goldin, concluded with a final price of $180,106 after receiving 13 bids. Kanye West 'Grammy Worn' Nike Air Yeezy 1s Sell for Record $1.8 MillionOriginally, the sneakers were supposed to be auctioned through Christie’s, but the plans were canceled due to West’s antisemitic comments, which led to Adidas severing its ties with him.Kanye West's $1m Yeezy shoes are 'most valuable to go on auction' - BBC News

The listing by Goldin does not mention the involvement of Rares or any other owner. Footwear News has reached out to Rares for confirmation and comment regarding their ownership, and an update will be provided if a response is received.

The Air Yeezys in question are a Nike prototype that West wore during his performance at the 2008 Grammys, marking their global debut. When the Air Yeezy was officially released for sale a year later, it became an instant success. Additionally, three colorways of the Air Yeezy 2 were released in 2012 and 2014, further fueling demand for the sneakers.This Nike Air Yeezy Sample Fell in Value From $1.8 million to $180,000

In 2013, West ended his partnership with Nike after the company refused to provide him with royalties for his shoe sales. He then established Yeezy and went on to create a billion-dollar sneaker empire, which eventually faced significant backlash due to a series of antisemitic comments made by West. TV set Embassy Premature kanye nike yeezy initial Unsuitable To NineAdidas has been gradually selling off its remaining stock of Yeezy sneakers in recent months and has committed to donating a portion of the proceeds to organizations such as the Anti-Defamation League, the Philonise & Keeta Floyd Institute for Social Change, and the Robert Kraft Foundation to Combat Antisemitism (FCAS).