My middle son recently told me that he invests in limited edition sneakers. When I raised a questioning eyebrow, he explained how consignment resale functions over sites like Stadium Goods and showed me how quickly some of his shoe investments have appreciated.
With a little additional online research, I learned that a pair of white Nike Jordan 1 high-tops by the fashion designer Virgil Abloh originally priced at $190, currently sell for $2,750, and that some people are willing to pay $12,350 for a pair of Adidas PW Human Race sneakers designed by Pharrell Williams. What every makes you happy.
While many argue that investing in sneakers is no different than investing in other forms of collectibles such as stamps, coins, of baseball cards, I am not 100% convinced. In 1637 people in the Netherlands invested in tulip bulbs until the market crashed. In the 1720s the English invested in the South Sea Company until that bubble burst. In the 1840s there was railroad mania. The list goes on: Florida real estate bubble, Japanese stock market bubble, the dot-com bubble, US housing bubble …
I any case, I hope my son is purchasing shoes that fit him. That way if the sneaker market crashes, he will at least have athletic footwear for a few years.
What do you think of investing in sneakers? Prudent investment or risky business? What other unusual investment vehicles do you know of or invest in yourself? Leave a comment.