The haul of 55 pairs of trainers – worth £18,500 – includes brands such as Christian Louboutin, Louis Vuitton, Jimmy Choo and Gucci.
Isaiah Hanson-Frost, 22, was jailed for six years after firing a gun at a car with rival gangsters inside.
Hanson-Frost denied possession of criminal property but handed over the haul after a hearing at Gloucester Crown Court in November.
The Police Property Act allows police forces to auction off goods seized and the cash raised will go towards crime prevention initiatives.
Detective Inspector Dave Shore-Nye said: “We often see the reason for someone to commit crime is down to their own personal greed and to make money.
“We are keen to put a stop to anyone who is living a lavish lifestyle which has been funded through crime, and this shows the level Gloucestershire Constabulary will go to in order to strip a criminal of their assets and then put the money to good use.”
Hanson-Ford, of Gloucester, was jailed after admitting possession of a firearm with intent to cause fear of violence and violent disorder.
The gangster, who was cleared of possession of criminal property, is able to keep any Nike trainers worth less than £100.
Police and Crime Commissioner Martin Surl said income from the auction will be used to fund projects within the county that steer young people away from a life of crime.