Sneaker reselling has become a lucrative market, with resellers making substantial profits by purchasing and reselling coveted shoes. The industry has seen a surge in recent years, with the rise of sneaker culture and the hype surrounding limited edition releases.
Many sneakers, particularly those released in limited quantities, appreciate in value over time. This has led to a frenzy around buying and reselling, with some resellers making profits of thousands of dollars on a single pair of shoes.
Sneakers are becoming a popular investment, similar to art. Some sneakers appreciate in value immediately upon purchase, due to limited quantities, high demand, hype, and one-of-a-kind collections. This is very similar to how the art world works.
For example, the Nike Air Jordan 1 "Chicago" was released in 1985 and retailed for $100. Today, a pair in good condition can sell for over $10,000. This is because the shoe is limited, in high demand, and has a lot of hype surrounding it.
Another example is the Nike Air Yeezy 2 "Red October". This shoe was released in 2014 and retailed for $250. Today, a pair in good condition can sell for over $50,000. This is because the shoe is limited, in high demand, and was designed by Kanye West.
One controversial aspect of sneaker reselling is the access to these coveted shoes. Many are released in extremely limited quantities, often through exclusive drops or raffles, making it difficult for the average consumer to purchase them. This has led to accusations of bots and insider access giving certain individuals an unfair advantage in acquiring these shoes.
Despite the controversy, many Sneakerheads view reselling as a gateway into investing, e-commerce, and entrepreneurship. Some have even turned it into a full-time business, creating their own online stores or opening brick-and-mortar shops specializing in sneaker reselling.
However, the high demand for certain sneakers and the resulting high resale prices can be a barrier for entry for some individuals. This has led to concerns about exclusion and the lack of diversity in the sneaker reselling community.
To address this issue, some companies have begun to take steps to increase access to limited edition releases, such as implementing anti-bot measures and offering shoes exclusively to members of underrepresented communities.
Overall, sneaker reselling is a complex industry with both positive and negative aspects. While it has opened up opportunities for entrepreneurship and investment, it has also raised questions about access and diversity. As the industry continues to grow, it will be important to consider these issues and work towards creating a more inclusive and equitable market.