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Financier Miles Nadal wants someone else to look after his stuff.
The 66-year-old is parting ways with about 750 pairs of sneakers, including some of the rarest in the world, and 144 cars and motorcycles, a collection that features Ferraris, McLarens and Lamborghinis.
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Nadal, the founder and CEO of Peerage Capital Group, told the Wall Street Journal that despite years of avid collecting he’s looking forward to having fewer things.
“I want someone to take care of all of this,” he said. “I don’t want to have to think much about it.”
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The auction will take place from May 31 until June 1 in the collection’s Toronto home, described as a 17,000 square foot exhibition space, and is expected to fetch more than US$62 million (about $84 million), according to R.M. Sotheby’s.
Sotheby’s describes the “Dare to Dream Collection” as the “best of the best of automobiles and sneakers.”
Among the shoes are roughly 500 pairs of Air Jordans, including a pair of signed Air Jordan 1’s from Michael Jordan’s rookie season, two pairs of the rare “Back to the Future” Nike Air Mags, and Nike’s Moon Shoes, which set a record in 2019 when Nadal purchased them for US$437,500.
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The car collection features the iconic Ferrari F40, renowned for its performance and status as a Ferrari classic; a 1967 Ferrari 275GTB/4 by Scaglietti, regarded as a masterpiece of design and engineering from the golden era of sports cars; the McLaren P1; a Jaguar XJ220, once the fastest production car in the world; a first-generation Ford GT, paying homage to America’s historic Le Mans victory with its supercar performance; and a 1989 Lamborghini Countach, a quintessential supercar known for its dramatic styling and powerful V12 engine.
Nadal told WSJ that around his 65th birthday he woke up and thought: “that’s enough.”
He said his plan all along was to sell his collections for charity. Per Sotheby’s, proceeds from the sneaker sales will go entirely to Nadal’s Dare to Dream Foundation, a registered charitable foundation, while sales from the vehicles will go to causes outside of the foundation.
Nadal did not disclose the specific organizations that would benefit from the sale’s proceeds, mentioning only that it would aid “those less fortunate, especially underprivileged kids.”
Nadal’s firm also owns Sotheby’s International Realty in Canada, but he and Sotheby’s told WSJ that he was granted no special concessions or advantages for this auction.
He reportedly plans to keep about 20 cars. As for shoes, he said he’s content in his Brunello Cucinelli sneakers, which retail for about $600 to $1,000.
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