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For the last ten years, sneakers have become collector’s items. Stylish and coveted, these objects are no longer a necessity, but sometimes a work of art and often a very good investment.
A pair of sneakers worn by Kanye West sold for $1.8 million, another belonging to Michael Jordan sold for $1.5 million. In a few years, these everyday consumer items have become financial performance machines.
Long considered a simple utilitarian object, the sneaker has become a true global fashion phenomenon, which attracts and makes consumers dream. Many sites of Instagram or Facebook pages, stores, and even auctions are multiplying on this promising niche.
A fertile ground for the second hand. Collectors buy one or more models, at a rather attractive price and then resell them to buyers, up to 5 times more expensive. They realize capital gains of over 2000% in less than five years.
The secondary market of sneaker sales is booming. Today, it represents 2 billion dollars in the United States alone and could triple to 6 billion dollars by 2025. Professionals, amateurs, enthusiasts, connoisseurs turned professionals, this market allows the smartest to make an exorbitant margin. or even to make resale a full-time job.
The co-founders of the online resale site Wethenew have understood this. They knew how to ride the sneaker wave at the right time, target the right people and put everything on communication. In an interview for Kom Media, they talk about their passion and the turnover generated: “every year, tens of thousands of pairs of sneakers are sold on our site. It has been in existence for three and a half years now and we have grown a lot. Our ambition is to achieve several tens of millions of euros in sales.”
Others, who have known this business for a while, don’t see it the same way. The founder of RWU, an Instagram page dedicated to the resale of sneakers, explains that this market is still complicated:
“Today it has become very hard to have stock, the stores limit to one purchase per person. The system of raffle (shoes that come out on the market in a few copies) is more and more unequal. I’ve been in the resell business for more than two years and I’ve seen the purchase price of Nike shoes increase enormously (up to +30€ per shoe model). I do this as a supplement and I find it increasingly difficult to make a fortune with this business unfortunately.”
Sneakers promoted as works of art
Nike Air Force originally sold for $150 and now sell for $4000. Chanel sneakers signed by Pharrell Williams sold for $ 9,000. Some brands have understood this and turn their sneakers into real works of art.
Some pairs are sold not to individuals, but to real collectors, who buy them at auction. Last May, one of them was organized in the French capital. 200 iconic models were presented and the sale reached 120,000 euros, with a record for a Jordan 1 in collaboration with the brand Off White sold at 16,120 euros. Dior also surfed on this trend by releasing a collaboration with the famous comma brand, sold in only a dozen copies, reaching over 10,000 euros.
According to the director of e-commerce development at Sotheby’s, Bram Watcher, the idea of the sneaker as an art object is spreading. According to him, “Art is a dialogue between a person and an object. When someone sees a painting or a sculpture and it speaks to them in some way, it’s an interaction that gives meaning to the object. Sneaker collectors have the same relationship with sneakers. ”
These sneakers are a bit like a Proust’s madeleine, taking the buyer back to his childhood or to certain emotions.
For Louis, the founder of RWU, collaborations are a gold mine: “Collaborations work more than ever. Today, a pair of Jordan x Travis Scott can easily be sold for €1,500 when it only cost me €160. Personally, I try to have the lowest prices on the market so that any enthusiast can wear the pair of their dreams.”
Much more than a simple object, the sneaker now signs an identity, and can even display a social status. From Forrest Gump to Michael Jordan to Drake, these must-have items have become desired and desirable, sparking a market sometimes compared to Bitcoin.
Read also>Nike Air Force 1 x Louis Vuitton: Virgil Abloh’s sneakers exceed expectations
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For the last ten years, sneakers have become collector’s items. Stylish and coveted, these objects are no longer a necessity, but sometimes a work of art and often a very good investment.
A pair of sneakers worn by Kanye West sold for $1.8 million, another belonging to Michael Jordan sold for $1.5 million. In a few years, these everyday consumer items have become financial performance machines.
Long considered a simple utilitarian object, the sneaker has become a true global fashion phenomenon, which attracts and makes consumers dream. Many sites of Instagram or Facebook pages, stores, and even auctions are multiplying on this promising niche.
A fertile ground for the second hand. Collectors buy one or more models, at a rather attractive price and then resell them to buyers, up to 5 times more expensive. They realize capital gains of over 2000% in less than five years.
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For the last ten years, sneakers have become collector’s items. Stylish and coveted, these objects are no longer a necessity, but sometimes a work of art and often a very good investment.
A pair of sneakers worn by Kanye West sold for $1.8 million, another belonging to Michael Jordan sold for $1.5 million. In a few years, these everyday consumer items have become financial performance machines.
Long considered a simple utilitarian object, the sneaker has become a true global fashion phenomenon, which attracts and makes consumers dream. Many sites of Instagram or Facebook pages, stores, and even auctions are multiplying on this promising niche.
A fertile ground for the second hand. Collectors buy one or more models, at a rather attractive price and then resell them to buyers, up to 5 times more expensive. They realize capital gains of over 2000% in less than five years.
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