A star-studded VIP party was held back in December to celebrate the launch of Rio Ferdinand's new charity Live The Dream Foundation for the benefit of under-privileged childen. The event was hosted by actor James Corden and Lord Archer acted as auctioneer. Unfortunately because organisers had failed to put a reserve price on the three most expensive items in the auction they were all sold very much under value. Diamond-encrusted (2576 gems) football boots worth £125,000, donated by Wayne Rooney (Manchester United) were sold for just £18,000. A second pair, given by Chelsea skipper John Terry and covered with a dazzling 2,374 jewels, was sold for £20,000 (estimated value) £135,000. Just to complete the hat trick Lord Archer sold a third pair donated by Ferdinand himself and valued at £125,000, for a mere £22,000. As a result of the blunder Ferdinand's Live The Dream Foundation was short of £325,000.
The boots were commissioned by Embee Jewels of London, who also donated the gems. A staggering 7,444 precious stones were added before the boots were independently valued by official testers at the Assay Office in London.