2016 Nike Mag Update: 'Back To The Future' Self-Lacing Shoes Sells For $104,000 At Hong Kong Auction

Nike has started auctioning off their 2016 Nike Mag, a self-lacing pair of sneakers inspired by the hit 1985 science fiction film "Back to the Future." At the Hong Kong auction on Tuesday, a pair was sold off for a whopping HK$810,000, which roughly converts to $104,000.

Hong Kong is the first of the three cities in Nike's live auction tour. Next on the list is London on Oct. 14 and then in New York on Nov. 12 at "A Funny Thing Happened on the Way to Cure Parkinson's," a benefit gala of The Michael J. Fox Foundation.

Want A Pair Of The 2016 Nike Mag?

According to their blog, the shoe maker is giving away one pair of the 2016 Nike Mag in a public draw in London. Entry will be exclusive on Oct. 15 to 16 at the Nike Town London.

Nike is also set to announce the winners of The Draw, which is now officially closed, on Oct. 17. Drawing of winners began on Oct. 4 and ended on Oct. 11, which means that there are now over 80 lucky names who will be receiving the good news soon.

Apart from these, there are no more chances to get one. Nike has manufactured only 89 pairs that will be distributed through The Draw, the auctions and the public draw. Though there is a high chance that one of these winners will auction off a pair through eBay.

2016 Nike Mag Self-Lacing Technology

Though not exactly a 100% working replica of those from "Back to the Future," the 2016 Nike Mag can perfectly fit any foot using Adaptive Fit technology. There are sensors that will decide whether to tighten or loosen the shoe, ensuring that each shoe will adapt according to the foot's measurements.

The 2016 Nike Mag is a product by the joint venture of Nike and The Michael J. Fox Foundation to help in speeding up a cure for Parkinson's disease.

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