LOT #73047 |
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Nike One Line ...
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Sold on Mar 28, 2024 for:
$425.00
Bid Source: HA.com/Live bidder
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Description
Nike One LineThe inception of the Nike One Line sub-brand was a strategic maneuver devised by Nike co-founder Phil Knight and his team to navigate a contentious dispute with the US Government. Remarkably, Nike deliberately omitted the iconic Swoosh and Nike branding from One Line shoes. During the 1970s and early 80s, Nike found itself ensnared in a protracted tariff dispute with the US Government's Customs and Treasury departments, posing a severe threat to the company's survival. The Customs department invoked the ASP (American Selling Price of 1922), an antiquated tariff law from the Great Depression era, to confront Nike with a staggering $25 million bill. This law dictated that the import tariff for a specific item would be determined not by the manufacturer's price but by the cost of a comparable American-made product.
The ingenious plan involved tricking the US Customs service's ASP tariff appraisers into perceiving the One Line shoes as products from a different brand, positioning them as supposed competitors to Nike. The shoes had to closely resemble Nike's designs to serve as a convincing comparison for customs appraisers. By exploiting the "like or similar" clause in the ASP tariff law, Nike successfully reduced their import tariff liabilities, saving millions of dollars and eliminating a significant obstacle on their path to an IPO. In a bold and cunning move, Nike not only deceived the US Customs office with a fictitious shoe brand nearly identical to their own but also eliminated inflated import tariffs, securing a crucial victory for their success. Phil Knight has often characterized this period as a "life and death" struggle for the fledgling Nike brand.
Distinguishing features of the shoes are:
- The white single stripe logo.
- "ONE" branding on both of the heel tabs.
- Both of the outsoles has the US Patent Number: "3793750/4098011"
Size: Presumed to be a women's size 7
Condition: Worn
Condition Rating: 4
Accessories: Shoes only
More Information: Condition Ratings:
1 – Brand New / Never Worn, shows little to no evidence of wear, minuscule factory defects, minimal signs of age.
2 – Brand New / Never Worn, shows little to no evidence of wear, slight factory defects, minor blemishes, discoloration or deterioration due to the age.
3 – Pre-Loved, gently worn with slight signs of wear. Please see the extended condition report for details.
4 – Pre-owned, shows signs of wear and regular use. Please see the extended condition report for details.
Heritage Auctions strives to provide as much information as possible but encourages in-person inspection by bidders as all items are sold in as-is condition. Statements regarding the condition objects are inly for general guidance, in conjunction with the high resolution, detailed images we provide online, and should not be relied upon as complete statements of fact, and do not constitute a representation, warranty or assumption of liability by Heritage. Please call or email the Sneakers department if additional information is needed to make an informed decision.
Any reference to gold or silver is an effort to describe the color and not meant to infer the type of metal unless stated specifically.
Heritage Auctions provides as much information as possible but strongly encourages in-person inspection. Condition statements are offered as general guidance only, not as complete representations of fact, and do not constitute a warranty or assumption of liability by Heritage. Some condition issues may not be noted but may be visible in the photos, which are considered part of the condition report. Lots estimated at $1,000 or less are not de-framed for inspection, and we may be unable to provide additional details for lots valued under $500. Heritage does not guarantee the condition of frames and is not liable for damage to frames, glass/acrylic coverings, original boxes, display accessories, or artwork that has shifted in the frame. All lots are sold "AS IS" under our Terms & Conditions of Auction.
Auction Info
2024 March 28 Sneakers Showcase Auction #46151 (go to Auction Home page)
Auction Dates
March, 2024
28th
Thursday
Internet/Mail Bids: 15
Lot Tracking Activity: N/A
Page Views: 460
Buyer's Premium per Lot:
25% on the first $1,000,000 (minimum $49), plus 20% of any amount between $1,000,000 and $5,000,000, plus 15% of any amount over $5,000,000 per lot.
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