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Sneakers could be a sound investment

Could Your Sneakers Actually Be A Sound Investment?

Sneakers could be a sound investment

Do you live for finding the rarest sneakers around? Do you know someone who just has to have every new pair of Jordan sneakers to date? Chances are either you or someone you know is a self-proclaimed “sneakerhead.” A sneakerhead is “a person who collects, trades or admires sneakers as a hobby.” A sneakerhead may also be highly experienced in distinguishing between real and fake replica sneakers. Yes, these sneakers may look great on your feet and sporting them with your favorite outfit may make everyone in the room jealous, but these sneakers could also look great for your wallet.  Inspiring sneakerheads, you want to keep reading.

Of course buying a shoe for an affordable price, and then waiting for it to grow in worth before selling it for more than the purchase price is not uncommon, but actually becoming a player in the sneaker-collecting game means much more than just owning just any pair of sneakers. Collectors actually have key criteria that they look for when determining the value of a shoe.  Criteria such as condition, release date, quantity released, and famous names associated and collaborations with famous designers/artists are all taken into consideration.

For example, a pair of sneakers made for MichaelJordan’s motorcycle racing team was selling for $3,000 at Sneaker Con, a quarterly convention in New York City. This pair was just one of 13 pairs made.

Because of limited releases from companies like Nike (Jordan is subsidiary brand,) the secondary market for sneakers is booming more than ever. It is now estimated to be worth $1 billion, according to Campless, a research firm that tracks data about collectible sneakers and the industry.

Just ask Jordan Geller, a lawyer who left the courtroom to pursue his passion for sneakers. Geller is now a full-time reseller of Nike sneakers; he sells his sneakers online for thousands of dollars. Since taking on his hobby full-time and earning enough money to live “comfortably,” he has been featured on the reality show “Pawn Stars” and entered into the Guinness Book of World Records with the world’s largest sneaker collection: 2,388 pairs, all Nike brand, according to BBC.

The market is not only opening doors for sellers to get involved, but web designers and tech-savvy entrepreneurs are also cashing in by developing apps to track the market. Campless tracks eBay auctions to compute a sneaker’s market value, KicksWorth, and mobile apps including Sneaker Price Guide also provide price comparisons.

Almost 25% of all of these sneaker re-sales take place right on eBay, but sneakerhead conventions serve as great opportunities to find out more about the community, meet other sneakerheads and find out the worth of your collections.  The most popular conventions are Sneaker Con and Sneaker Summit in the United States, Crepe City and Sneakerness in Europe, Sneaker Freaker Swapmeet in Australia, and Sneaker Pimps, which tours the globe from Brazil to Japan.

Have we sparked you interest in investing into a pair of sneakers? If so check out these articles for more insider information about the world of sneakerheads.

http://www.bbc.com/capital/story/20141218-air-jordans-that-keep-on-giving

http://fivethirtyeight.com/features/you-see-sneakers-these-guys-see-hundreds-of-millions-in-resale-profit/