*Note: This article does not necessarily reflect the views of The Teen Trillionaire and is written purely based on the author's opinions
Investing In Sneakers Can Be A Better Investment Than Gold:
Nike SB Dunk Low Reese Forbes Denim sneakers originally sold for $65 and are now reportedly worth over $4,000. That’s a lot of money for a pair of shoes.
When you think of investing your money, sneakers probably aren’t the first thing that comes to mind. But according to newly released research, some sneakers could be a better investment than gold. For example, there are the Yeezy 2 Red Octobers which retailed for $250 in 2014 and are now worth $5,655. Financially speaking, that’s a great return on investment. Beware that not every pair of sneakers is going to give you a stellar return on investment. And a sneaker’s potential resale value can’t always be accurately predicted. There’s a guessing game or element of unpredictability that makes it exciting for some collectors. With sneakers, you kind of never know. You know what sneakers are more limited or which ones were harder to get, but even with that, it fluctuates a lot. A sneaker that was very valuable two years ago might all of a sudden crash and no longer be valuable. Even if you have a pair of valuable shoes in your collection, you need to find someone who’s willing and able to spend top dollar if you want to cash in. It can be very challenging because of its small target market. Sneaker reselling is big business and it’s not unusual to see sought-after shoes sell for many times their original value.
The whole situation with sneakers is that when they’re limited, everyone wants them, and they can’t get them. It follows the old saying, “You want what you can’t have.” People really have to want the shoes to make the demand go up. It could be a one-of-one sneaker from some brand no one has heard of that nobody wants, and be limited, but there’s no demand there. It’s how limited they are in relation to how many people want them.
The physical condition of the shoes is also important. In order for sneakers to remain at their peak value, they should almost always be unworn. You still might sell valuable shoes “for a pretty penny” even if they have been worn, but they probably won’t be worth as much as unworn shoes.
One case where sneakers might increase in value after being worn is if they were worn during a major game by a famous athlete, like Lebron James or Michael Jordan. A shoe that’s designed in collaboration with a high-profile figure like Jordan 2 Retro Eminem (The Way I Am) sneakers ― will also likely be worth more.
If it has some kind of connection to a superstar or legend out there, that could help increase the value. But a lot of it comes down to hype. Hype is everything. It’s absolutely everything to how a sneaker goes up in value. It’s like any business. You’ve got to apply business principles to it. There are people who definitely make a great living doing that, but it has to be organized and well thought out, and you have to be well-practiced in the area. It’s a business, so if you apply good business sense and are savvy, then like in any realm, you’ll be successful.
Written by Ishmita Vaish