Here’s some good news if you are a sneakerhead with money to burn, and a little bit of related bad news. Nike’s self-lacing sneakers, HyperAdapt 1.0, will cost less than expected, coming down from an estimated $1000, to ‘only’ $720. It’s a fair bit of saving, but whether the money is worth it remains to be seen.

At the same time you might need to wait a bit longer to pick up a pair, since it will only be released on 1 December, and not 28 November (this according to Mashable, although the 28 December date remains on the Nike website). Ah, the sneaker gods giveth and the sneaker gods taketh away. Also, these prices are confirmed for the States but South African availability is not yet clear.

Nike call the self-lacing technology “adaptive lacing”. Once you step into the shoe, your heel activates a sensor which then tightens the laces, while two buttons on the side will help you loosen or fasten the fit. A lithium-ion battery powers the whole procedure and should last about two weeks.

If you think $720 is a pretty penny for sneakers, think again, since a pair of the Back to the Future inspired Nike Mag's recently sold at a Hong Kong auction house for $104 000. Granted, there are only 89 pairs of these shoes in the world, and the money was raised for the Michael J. Fox Foundation.

Hit the video below for a very brief introduction to the shoe.