Start Investing

Buyout Offer: 1985 Air Jordan 1s (Second Offer)

Get Our Weekly Newsletter

You're on the list!

Look out for Otis emails in your inbox every week. Download the app to start investing now.

Oops! Something went wrong while submitting the form.
Buyout Offer: 1985 Air Jordan 1s (Second Offer)
January 12, 2022
Claire Zhang

The Shoes

‍The Nike Air Jordan 1 is the sneaker that started it all. Originally released in 1985 as MJ’s first signature sneaker, the Air Jordan 1 helped pave the way for the most popular sneaker franchise of all time. This collection includes 5 of the original colorways produced in 1985, preserved in brand new condition.


The Offer

‍$72,000, which would net investors $72.15/ share, representing a 118.6% gain to the Drop Value ($33,000 or $33.00 / share) and 73.9% premium to the market cap at trading pause on 1/11/22 ($41,500 or $41.50 / share).

‍

Previously, a buyout offer of $66,861 was declined by 61.6% of shareholders (share weighted) in October 2021.


Recent Sales

We looked at public purchase data found between StockX and Sotheby's. The sum of most recent sales for these shoes would suggest a fair market value of $70,481.

‍

However, due to the scarcity of deadstock pairs of these shoes (which are 36 years old), there are few recent comparable sales (only 2 of the 5 shoes had comparable sales in 2021). Consequently, basing current FMV on most recent sales may not be entirely accurate.

‍

StockX + Sotheby's Last Sale Links:

Bred: $15,120 on 9/30/20

Royal: $16,461 on 1/25/21

Chicago: $20,000 on 8/10/21

Neutral Grey: $6,930 on 12/3/20

Black/White: $11,970 on 12/3/20



Submit Counteroffer: Open the asset in the app to submit your offer.


Join the Conversation: Chat with other Otis members about this offer on Discord.


Trading has been placed on hold pending investor feedback related to the offer. We asked shareholders to provide feedback by Sunday 1/16/21 at 5 PM ET.

‍

The Otis team will approve or reject the offer based on a number of factors, including shareholder vote, recent sales, and trading price on Otis. If the buyout is approved, investors will be eligible to receive a payout into their Otis cash account once the transaction is finalized.

‍

UPDATE (1/19/22):

‍

The Otis team made the decision to remove this buyout offer from consideration.

Over the weekend, the Otis team was made aware of a recent sale at Heritage Auctions for one of the pairs of sneakers in the collection. This sale was at a significant premium to the comp used in our own FMV analysis. This recent sale would suggest a revised Fair Market Value of at least $87,761 for the collection.

Based on this new data point, the proposed buyout no longer meets our standards for a reasonable offer, and the Otis team has made the decision to remove the offer from consideration. The buyer declined to make an offer that exceeded our new, higher threshold.

The asset will re-open for trading tomorrow, January 20, at market open.

Buyouts

Related Posts

Buyout Offer: 1985 Air Jordan 1s
January 12, 2022
View All
DisclaimerTermsPrivacy
Company
AboutCareers
Learn
How It WorksHelp CenterDiscord
Connect
InstagramTwitterContact Us
OTIS WEALTH, INC. (“OTIS”) OPERATES THE WITHOTIS.COM WEBSITE (THE “SITE”) AND A MOBILE APP-BASED PLATFORM (THE “APP”), AND IS NOT A BROKER-DEALER OR INVESTMENT ADVISER. Dalmore Group LLC, member FINRA and SIPC, is the broker-dealer of record for Otis Wealth, Inc., an issuer direct offering. YOU CAN REVIEW THE BROKERCHECK FOR DALMORE HERE. AN UP-TO-DATE DALMORE FORM CRS IS AVAILABLE HERE.
‍
YOU SHOULD SPEAK WITH YOUR FINANCIAL ADVISOR, ACCOUNTANT AND/OR ATTORNEY WHEN EVALUATING ANY OFFERING. NEITHER OTIS, ITS AFFILIATED ISSUERS NOR DALMORE MAKES ANY RECOMMENDATIONS OR PROVIDES ADVICE ABOUT INVESTMENTS. THE SITE AND THE APP MAY MAKE FORWARD-LOOKING STATEMENTS. YOU SHOULD NOT RELY ON THESE STATEMENTS BUT SHOULD CAREFULLY EVALUATE THE OFFERING MATERIALS IN ASSESSING ANY INVESTMENT OPPORTUNITY, INCLUDING THE COMPLETE SET OF RISK FACTORS THAT ARE PROVIDED FOR YOUR CONSIDERATION.

OTIS GALLERY LLC (“GALLERY”) AND OTIS COLLECTION LLC (“COLLECTION”) ARE CONDUCTING PUBLIC OFFERINGS PURSUANT TO REGULATION A AND PRIVATE OFFERINGS PURSUANT TO REGULATION D UNDER THE SECURITIES ACT OF 1933, AS AMENDED, THROUGH THE APP. THE OFFERING CIRCULAR FOR GALLERY CAN BE FOUND HERE, AND THE OFFERING CIRCULAR FOR COLLECTION CAN BE FOUND HERE. THE PRIVATE PLACEMENT MEMORANDUM FOR ANY OFFERING CONDUCTED PURSUANT TO REGULATION D HAS BEEN OR WILL BE, AS APPLICABLE, DISTRIBUTED DIRECTLY TO INVESTORS. PAST PERFORMANCE IS NO GUARANTEE OF FUTURE RESULTS. INVESTMENTS SUCH AS THOSE ON THE OTIS PLATFORM ARE SPECULATIVE AND INVOLVE SUBSTANTIAL RISKS TO CONSIDER BEFORE INVESTING, OUTLINED IN THE RESPECTIVE OFFERING MATERIALS AND INCLUDING, BUT NOT LIMITED TO, ILLIQUIDITY, LACK OF DIVERSIFICATION AND COMPLETE LOSS OF CAPITAL. KEY RISKS INCLUDE, BUT ARE NOT LIMITED TO, LIMITED OPERATING HISTORY, LIMITED DIVERSIFICATION, RISK OF ASSET DAMAGE OR THEFT AND LACK OF VOTING RIGHTS. ALSO, THE ADVERSE ECONOMIC EFFECTS OF THE COVID-19 PANDEMIC ARE UNKNOWN AND COULD MATERIALLY IMPACT THIS INVESTMENT. AN INVESTMENT IN AN OFFERING CONSTITUTES ONLY AN INVESTMENT IN A PARTICULAR SERIES AND NOT IN OTIS, GALLERY, COLLECTION OR THE UNDERLYING ASSET(S). INVESTORS SHOULD CAREFULLY REVIEW THE RISKS LOCATED IN THE RESPECTIVE OFFERING MATERIALS FOR A MORE COMPREHENSIVE DISCUSSION OF RISK.

INVESTMENT OVERVIEWS CONTAINED HEREIN CONTAIN SUMMARIES OF THE PURPOSE AND THE PRINCIPAL BUSINESS TERMS OF THE INVESTMENT OPPORTUNITIES. SUCH SUMMARIES ARE INTENDED FOR INFORMATIONAL PURPOSES ONLY AND DO NOT PURPORT TO BE COMPLETE, AND EACH IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO THE MORE-DETAILED DISCUSSIONS CONTAINED IN THE RESPECTIVE OFFERING CIRCULAR FILED WITH THE SECURITIES AND EXCHANGE COMMISSION (“SEC”) OR OTHER OFFERING MATERIALS RELATING TO SUCH INVESTMENT OPPORTUNITY.
‍
FROM TIME TO TIME, AFFILIATES OF OTIS WILL SEEK TO QUALIFY ADDITIONAL SECURITIES UNDER REGULATION A. FOR OFFERINGS THAT HAVE NOT YET BEEN QUALIFIED, NO MONEY OR OTHER CONSIDERATION IS BEING SOLICITED AND, IF SENT IN RESPONSE, WILL NOT BE ACCEPTED. NO OFFER TO BUY SECURITIES CAN BE ACCEPTED, AND NO PART OF THE PURCHASE PRICE CAN BE RECEIVED, UNTIL AN OFFERING STATEMENT FILED WITH THE SEC HAS BEEN QUALIFIED BY THE SEC OR UNLESS AS STATED IN THE OFFERING MATERIALS RELATING TO AN INVESTMENT OPPORTUNITY, AS APPLICABLE. ANY SUCH OFFER MAY BE WITHDRAWN OR REVOKED, WITHOUT OBLIGATION OR COMMITMENT OF ANY KIND, AT ANY TIME BEFORE NOTICE OF ACCEPTANCE GIVEN AFTER THE DATE OF QUALIFICATION BY THE SEC OR AS STATED IN THE OFFERING MATERIALS RELATING TO AN INVESTMENT OPPORTUNITY, AS APPLICABLE. AN INDICATION OF INTEREST INVOLVES NO OBLIGATION OR COMMITMENT OF ANY KIND.
‍
OTIS DOES NOT OFFER REFUNDS AFTER AN INVESTMENT HAS BEEN MADE. PLEASE REVIEW THE RELEVANT OFFERING MATERIALS AND SUBSCRIPTION DOCUMENTATION FOR MORE INFORMATION.
‍
AN ACTIVE TRADING MARKET FOR ANY SERIES OF GALLERY OR COLLECTION INTERESTS MAY NOT DEVELOP OR BE SUSTAINED. IF AN ACTIVE PUBLIC TRADING MARKET FOR GALLERY OR COLLECTION INTERESTS DOES NOT DEVELOP OR IS NOT SUSTAINED, IT MAY BE DIFFICULT OR IMPOSSIBLE FOR YOU TO RESELL YOUR INTERESTS AT ANY PRICE. EVEN IF AN ACTIVE MARKET DOES DEVELOP, THE MARKET PRICE COULD DECLINE BELOW THE AMOUNT YOU PAID FOR YOUR INTERESTS. THERE IS NO ASSURANCE THAT THE OTIS PLATFORM WILL PROVIDE AN ACTIVE MARKET FOR RESALES OF GALLERY OR COLLECTION INTERESTS. FURTHER, WITHOUT THE OTIS PLATFORM, IT MAY BE DIFFICULT OR IMPOSSIBLE FOR YOU TO DISPOSE OF YOUR INTERESTS. IF THE MARKET DEVELOPS FOR ANY SERIES OF GALLERY AND/OR OTIS COLLECTION INTERESTS, THE MARKET PRICE OF SUCH INTERESTS COULD FLUCTUATE SIGNIFICANTLY FOR MANY REASONS, INCLUDING REASONS UNRELATED TO PERFORMANCE, THE UNDERLYING ASSETS OR ANY SERIES, SUCH AS REPORTS BY INDUSTRY ANALYSTS, INVESTOR PERCEPTIONS OR ANNOUNCEMENTS BY COMPETITORS REGARDING THEIR OWN PERFORMANCE, AS WELL AS GENERAL ECONOMIC AND INDUSTRY CONDITIONS.

Otis: Invest in Culture
iOS and Android
Download