Nike, mag

The $200,000 sneaker 

Words: Andreas Tzortzis

Investing in sneakers won’t make you rich, but that doesn’t mean it’s not a whole lot of fun.

Remember that friend of yours whose closet-sized sneaker collection was all look and no touch? He probably thought he was sitting on a gold mine. Turns out he might be. Enter StockX, an online marketplace connecting buyers and sellers that is the brainchild of a data-obsessive sneakerhead named Josh Luber.  

“If you look at the resale market over time, it looks exactly like a Nike Swoosh,” he says. “The price starts high pre-release, comes down and then climbs up.” How steep it climbs is a function of a demand. For example, a pair of $220 zebra-striped Yeezys released by Adidas in February are now trading at five times that because of rumors of a limited run

Nike-CEO Mark Parker

© YouTube/Nike

So how do you beat the market? “You should plan on holding a pair at least two years,” when the dead stock dwindles, Luber says. And the ultimate insider tip is knowing the production run — a closely held secret. For example, only 89 pairs of the self-lacing Nike Mags were released last October. Which explains why one pair sold for $200,000 at a charity auction and another is currently trading at close to $33,000 on StockX. 

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05 2017 THE RED BULLETIN

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