It is incredible that the things you wear on your feet are what people use to determine who you are as a person. However, what if one were to spend thousands of dollars collecting these shoes? This behavior is labeled as being a sneakerhead, which refers to a person who collects and trades sneakers as a hobby. Though some may perceive this activity to be a waste of time and money, there is more than meets the eye of a sneakerhead’s intelligence.
The sneaker culture began to popularize in the late ’90s and early 2000s amidst the NBA sports scene. Athletes at that time used sneakers to their advantage, as the shoes’ properties boosted their performance. Now, our generation is also using sneakers to express themselves, with the addition of “lifestyle shoes” for those not interested in sports. An example of such would be the iconic Air Force 1 of Nike and Adidas’ Stan Smiths. As such, it is no wonder that the variety of sneakers increases each passing year.
However, there has been a negative connotation to sneakerheads. This is due to peoples’ general misconception of a sneakerhead’s underlying purpose. Some may assume that collecting and reselling sneakers is a waste, merely looking at the sneaker from a wearable perspective and not as a collectible asset. Furthermore, many different opinion articles such as the one featured by SneakerMag have been claiming that people who buy expensive sneakers are simply wasting money, giving rise to the connotation that buying expensive sneakers is simply bad. In one of their articles, they stated nine different reasons why being a sneakerhead “sucks.”
So, how can being a sneakerhead possibly become a profitable pursuit? When a shoe is put up for sale by a brand, over time, the retail price becomes relatively lower than the resale value—if the shoe is in a good style or hyped by the public. With the right shoe and the right timing, sneakers can become valuable collectibles, especially if the quantity of the shoe is limited. An example of this was when the OFF-WHITE x Air Jordan Chicago’s were released in late 2017. The retail price was $190.00 but current prices range upwards of $5000.00 unworn. When looking at possible parallels into other markets, one can identify luxury bags, such as Birkins and Chanel bags to be similar to being a sneakerhead.
Although, if a sneakerhead is not very knowledgeable about the right shoes to turn a profit, their attempts to successfully collect may be futile. There are even instances where one is knowledgeable on the type of shoe; however, the projection of the shoe does not match the actual resale price. An instance of this was the Pharell NMD. The first few colorways were released in mid-June for around $240.00. Now, they are around $1000.00 on the low end. However, during the following releases of different colorways, people lined up just to get a chance to buy the sneaker to resell. It ended up staying around the same price, if not, lower than retail price.
Conclusively, a sneakerhead can gain a lot with the proper knowledge, dedication, and careful strategy. An example of a well-known personality would be Benjamin Kickz who earned 2 million dollars off of the industry by selling sneakers to famous celebrities. Just like with any other business, there are always risks that must be taken in order to reap the reward. So, think twice before judging a sneakerhead for their expensive habits. What they do might be more interesting and rewarding than other respectable hobbies out there.
Comments