“Why You Should Let Your Son or Daughter Buy That $1000 Shoe”
“Why in the world are you spending a thousand dollars on a pair of shoes?” is a question a lot of people ask. The answer to this question is simple: supply and demand. The “Sneaker Market” uniquely resembles the stock market as prices fluctuate immensely and money can be made - a lot of it.
Just like the stock of a company, there are only a set number of “shares” or “sneakers” produced for a given model and color-way. For example, just like how Microsoft has 7,567,652,935 shares outstanding, there were only 13,000 Dior x Jordan 1’s produced. Just like how the stock market is determined by supply and demand, the same is for the sneaker market. Although the Dior x Jordan 1’s retailed for $2,200, which is commonly seen as “too expensive”, the Dior x Jordan 1’s now resale for upwards of $10,000. Most people’s jaws would drop to that number, but everyone in the sneaker world was not surprised at all. Five million people signed up to purchase the Dior Jordans; this unusually high demand coupled with the extremely small supply easily justifies the quintupling of the retail price of the sneakers.
Sneakerheads around the world understand the value of sneakers and see it not only as something you wear on your feet but as an investment. Simply put, the “Sneaker Market” is the perfect introduction to investing. This can best be represented by Sneaker Invest, a popular reseller, known for his outlandish photos of him in front of 100 pairs of the same sneaker. (image above) He famously purchases hundreds of the same shoe and holds them all until the sneaker’s value has risen over time. For instance, he purchased 100 pairs of Obsidian Jordan 1’s for an average of $250 a pair, and 4 months later, they shot up to $500. His total profits totaled $27,000.
Sneakers have the volatility which stock investors dream of and the hype which sneakerheads would die for. You can make a lot of money from reselling sneakers, and like Sneaker Invest, can make a career out of it. Next time you think about making a safe long-term investment, think about investing in a few pairs of sneakers, preferably from the LOAK app.