Can old sneakers be an investment?
Shops on the internet and even the biggest auction house are stocking.
Prices have been soaring over the last couple of years, which may prove them right.
Investors are creative when it comes to money.
Some buy classic cars, properties, forte objects, or fine wines.
A lot of people invest in pictures.
The booming high market and shaky markets have lured investors into more niche markets.
Sneakers are generally comfortable and cheaper than other items but don’t compare to a few thousand dollars.
People don’t really know how this trend started, but different sneaker companies are now creating limited release products that can cost over a thousand dollars (with some being priced as high as $1,500).
Who Blame Michael Jordan and Nike One of the most frustrating things about buying shoes, for both parents and kids, is waiting in long lines.
The long wait in line has been around for decades right here in the US.
For example, in the late 80s, people were willing to wait hours to get the latest kicks from basketball legend Michael Jordan who was known for slam dunks.
For most people it was a short-term investment, there were brief price shocks when certain editions came out.
They were mainly bought to be cool, but today the Air Jordan has become iconic.
Sneakers have been popular for a long time, but they became even more so when hip-hop & rap videos started to be made.
They’re now popular among celebrities and social media influencers with influencers advertising them on their channels to millions of followers.
More and more people are taking on a casual, more relaxed office style when they work.
When the coronavirus imposed more restrictions on public gatherings and travel, this has given employees working at home even less need to come into the office in a dress or shoes.
Keep it comfortable and authentic In the 80s, American sneaker collectors found each other online and began forming a small subculture.
This eventually grew into sneaker culture in the mainstream after people started gathering at swap meets, independent stores, and underground events.
The sneaker market is an industry that has been slowing down for 2 main reasons.
The first, a lack of knowledge about secondhand trading, and the second are counterfeit products.
Since 1980, eBay has been a popular go-to place for buying and selling shoes.
To increase buyers’ trust, they started authenticating through Sneaker Con Digital, which specializes in displaying what was advertised in terms of measurements and shoe size.
Navabi inspects and approves select brands of new sneakers that they sell for $100.
They also inspect & approve pre-owned pairs from brands like Nike, Adidas, Puma, Gucci, and Louis Vuitton.
eBay’s online sneaker authentication program proves to be quite popular.
Within the year of its release, eBay sold 1.55 million pairs of shoes on its platform.
The ease and convenience of being able to authenticate a shoe with an individual app have proven to be very popular among customers and this is why the service took off quickly.
The Amazon retailer online enters the sneakers market by purchasing Markand Chappell.
It looks like they believe it could be profitable in the future, showing a sign of recognition that this is an ongoing trend in e-commerce.
To be specialized to build trust more specialized online platforms have also stepped in, like StockX which is a marketplace for trading clothes and shoes.
Announced in 2016, this company now has 1,000 employees operating in 11 authentication centers across the US, UK, Canada, Netherlands, Hong Kong, Australia, and South Korea.
Besides authenticating all items before they are sent to a buyer, StockX has built up a huge database of price histories, resale prices, and long-term trends.
Shoes kept getting more expensive in the StockX marketplace, with a 2016 Nike Mag Back to the Future selling for $65,000 in 2020.
StockX’s young demographic base has been attracting new users to the platform and more than a third of their users are now younger than 35 years old.
When you look at the data, models that are in the resale value stratosphere generally retain their value when kept in pristine condition with their original packaging.
DW interviewed Morrison and found out that Nike Air Max investors have seen a 50% return on their investment in the time frame mentioned above.
Not too late for the show, the Sneakers earn the highest stamp of approval by being included in Sotheby’s auction.
One of the most luxurious auction houses in the world has started to sell sneakers.
The first auction was a resounding success and smashed a previous world record for the priciest sneaker ever sold.
Sotheby’s has been holding sneaker auctions since last year and officially launched streetwear in December.
Brahm Wachter who heads up the streetwear category told DW that 2021 was a banner year for sneakers at Sotheby’s.
One of the bestsellers in last year’s auction was a pair of Nike Airships worn by Michael Jordan, which sold for $1.47 million.
This isn’t the first time that this type of shoe has been popular among major basketball players just a few months ago,
Kanye West was wearing a pair that sold for $1.8 million sneakers have many similarities with other cultural products such as comics.
They mean something for a younger generation, which grew up to want them.
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