NIKE : BACK TO THE FUTURE

The limited-edition, Back to the Future-inspired Nike Mag must-have shoes quickly climbed above $3,500 in the first night of bidding, with some models topping $4,000.

But the shoes are not self-tying, a promotional video confirmed.

Nike unveiled the Air Mag at an event in Los Angeles on Thursday, after a teaser sent shoe aficionados and geeks drooling.

Only 1,500 pairs of the Nike Mag will be released, 150 per night for the next ten nights, making them the latest must-have geek item.