Miles Nadal’s $60m collection of memorabilia and luxury cars to be auctioned

A $60m (£47m) collection of sports memorabilia, rare trainers and luxury automobiles owned by a Canadian entrepreneur will be auctioned at RM Sotheby’s on Saturday.

Introduction

Canadian entrepreneur Miles Nadal is set to auction off a remarkable $60 million (£47 million) collection of sports memorabilia, rare trainers, and luxury cars at RM Sotheby’s on Saturday.

The collection, painstakingly amassed over more than 25 years, features high-value items, including a racing suit signed by former Formula One champion Michael Schumacher and five classic red Ferraris collectively valued at $20.25 million.

Notably, the collection also includes a pair of Nike’s “Moon Shoe,” which Nadal purchased for a record-breaking $437,500 in 2019.

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Highlights of the Collection

Sports Memorabilia

• Michael Schumacher’s signed racing suit.
• Original Air Jordan sneakers signed by basketball legend Michael Jordan.
• A rare Nike pair inspired by the movie Back to the Future, one of only 89 pairs worldwide.

Luxury Cars

• The “Big 5” Ferraris: the 288 GTO, F40, F50, Enzo, and LaFerrari.
• A 2015 McLaren P1, one of only 350 in existence.
• A 2008 Bugatti Veyron 16.4, previously owned by British TV personality Simon Cowell.

Sneaker Collection

• Estimated to be worth $2 million, including iconic pairs such as the Nike “Moon Shoe.”

Background

Miles Nadal, once one of Canada’s highest-paid CEOs, founded the advertising firm MDC Partners Inc.

His collection, previously displayed at his private Dare to Dream museum in Toronto, represents years of “emotional investments” in items of genuine interest. Nadal cited the need to clear space and a desire to enjoy his collection’s proceeds as reasons for the auction.

Additionally, proceeds from the auction will be donated to charity, reflecting Nadal’s commitment to philanthropy. He has previously donated millions to institutions like Mount Sinai Hospital and York University.

Auction Details

• Auction House: RM Sotheby’s
• Date: Saturday
• Estimated Worth of Items: $60 million (£47 million)
• Notable Items: Five classic Ferraris, Michael Schumacher’s racing suit, Nike “Moon Shoe,” 2015 McLaren P1, and 2008 Bugatti Veyron 16.4.

Conclusion

Nadal’s decision to sell parts of his collection is driven by practical considerations and a philanthropic spirit. By auctioning these items, he aims to use the proceeds for charitable causes while also simplifying the maintenance of his extensive collection.

This auction represents a unique opportunity for collectors to acquire rare and valuable items from a highly esteemed collection.