Sole-d to the highest bidder! Canadian entrepreneur splashes out $850K to buy 99 pairs of the world's rarest sneakers in groundbreaking Sotheby's auction - leaving just ONE item behind

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Move over Monet. Nike is hot on your heels. At least inside the hallowed halls of New York-based auction house Sotheby's. 

Earlier this month, the company announced that it would be launching its first ever sneaker sale, having teamed up with streetwear brand Stadium Goods to bring together a collection of 100 pairs of the rarest kicks ever made. 

And just days later, a staggering 99 of those pairs were sold for a whopping $850,000 to a Canadian businessman who plans to put them all on display in his own private museum in Toronto - leaving just one pair available for public auction, which is expected to fetch another $160,000. 

One small step for man: Sotheby's launched its first ever sneaker auction last week, offering up 100 pairs of the world's rarest kicks, like these self-lacing Back to the Future-inspired shoes 

History: Included in the sale was a pair of shoes from a collaboration between Chanel, Adidas, and Pharrel Williams (left) and some from a partnership between Nike and artist Tom Sachs

Going, going, gone: 99 of the 100 pairs up for auction have already been sold, after they were purchased for a whopping $850,000 in a private sale 

Miles Nadal, founder and executive chairman of private investment firm Peerage Capital Group, revealed on Thursday that he had snapped up all but one pair of the historical designs because he believes them to 'represent innovative design, exceptional craftsmanship, and new and exciting trends in pop culture'. 

'I have always been an avid enthusiast and appreciator of unique art and collectibles that represent innovative design, exceptional craftsmanship, and new and exciting trends in pop culture,' he said. 

High bidder: Canadian businessman Miles Nadal (pictured) was revealed as the man behind the pricey purchase

'Acquiring such a range of contemporary classics is a unique opportunity to build a substantial sneaker collection of iconic proportions. 

Nadal went on to reveal his plans to showcase the shoes inside his personal museum, called Dare to Dream, which is also home to his collection of 142 cars and 40 motorcycles.  

'The collection will be a wonderful complement to the Dare to Dream classic car collection, and I am excited to showcase these magnificent sneakers,' he concluded.

Among the 99 pairs of shoes purchased by Nadal are some incredibly well known items, including 2011 and 2016 versions of the Back to the Future Part II limited-edition shoes by Nike that were inspired by the 1989 film starring Michael J. Fox.

The 2016 version of the futuristic shoe, complete with self-lacing technology, was expected to sell for between $50,000 and $70,000 before Nadal put in his bid for almost all of the lots. 

Other shoes that will soon be on their way to Toronto and Nadal's personal ollection include sought-after and limited-edition sneakers produced by Adidas, Air Jordan and rapper Kanye West's Yeezy collection.  

Final countdown: The only pair remaining up for auction are these incredibly rare 1972 Nike Waffle Racing Flat 'Moon Shoes' of which only 12 pairs were ever made

Speedy: The sneakers, which were designed by Nike co-founder Bill Bowerman, are expected to fetch up to $160,000 when they go under the hammer

As for the sole remaining pair, Sotheby's revealed that the consignor who offered them up for auction wanted them to remain available to the public, rather than being included in the private sale - no doubt because of the illustrious history that accompanies them. 

The 1972 Nike Waffle Racing Flat 'Moon Shoe' as it became known was designed especially by the brand's co-founder Bill Bowerman for the US runners at the 1972 Olympic trials, and it is thought that only 12 pairs were ever made. The pair that remains up for auction are believed to be the only ones that have never been worn.

Ahead of Nadal's purchase of 99 pairs of the sneakers being auctioned off, it was estimated that the Nike Moon Shoe would be the design to fetch the most money, with many speculating that the shoes could end up being sold for $160,000 - double the starting bid of $80,000.

The highest price fetched at public auction for sneakers is thought to be $190,373 in 2017 for a pair of signed Converse shoes said to have been worn by Michael Jordan in the 1984 Olympic basketball final. The shoes were auctioned through California sports memorabilia company SCP.

Speaking about the auction house's decision to take a break from art in favor of a sneaker sale, Noah Wunsch, global head of eCommerce at Sotheby's, said the company felt it was bringing together 'art, culture and fashion', adding that the sale marked another step in the auction house's expansion of offerings of highly coveted luxury goods.

'We´ve long talked about how sneakers are this generation´s luxury fashion, and being able to collaborate with a brand with the history and esteem of Sotheby's is further proof of that,' John McPheters, co-founder of New York-based Stadium Goods, added.