$60m collection of rare cars and sneakers going on auction

Miles Nadal, a Canadian entrepreneur, is preparing to auction off his impressive collection of rare cars, sneakers, and sports memorabilia at RM Sotheby's. The collection, valued at $60m (£47m), includes a racing suit signed by former Formula One ace Michael Schumacher, five classic red Ferraris worth a collective $20. 25m, and a rare pair of Nike's 'Moon Shoe' that Mr. Nadal bought for a record-breaking $437,500 in 2019. In interviews with various media outlets, Mr. Nadal mentioned that he decided to put some of his collection up for auction to clear space and donate the proceeds to charity. The items for sale are estimated to be worth a collective $60m and include an impressive sneaker collection worth $2m, which Mr. Nadal acquired more recently. The collection also features original Air Jordan sneakers signed by basketball legend Michael Jordan and a Nike pair inspired by the movie Back to the Future, one of only 89 pairs worldwide. Car enthusiasts will be excited to know that the auction will also include more than 100 rare cars that were once on display at Mr. Nadal's Dare to Dream museum in Toronto, including the 'Big 5' Ferraris, a 2015 McLaren P1, and a 2008 Bugatti Veyron 16. 4 that formerly belonged to British TV personality and record producer Simon Cowell.