Sneakers are an everlasting trend. And the culture of the rare sneakers collection has grown exponentially over the past decade. The sale and resale of these shoes have gone from offline sneaker cons to online platforms where exclusive sneakers like Air Jordans and Asics are available at the touch of a button.
Collecting sneakers that are high in demand was once a niche interest among enthusiasts, and it has now turned into a mainstream investment opportunity with the potential to reap benefits. The global sneaker resale market is estimated at AUD 2.7, and experts expect it to gain triple its value in the upcoming five years. Meanwhile, one of the most profitable and popular sneakers in 2019 was the Jordan 5 Retro Trophy Room University Red (F&F) which was sold at an average of more than AUD 7000. The upcoming highest bid is the Jordan 1 Retro High Dior that has a resale value of over AUD 15,300, and these figures indicate how the sneaker collection has turned from being a hobby to an asset.
The Economics of the Sneaker Collection Culture
The element of investment benefits has always been a consequence of the deep-rooted culture of a rare sneaker collection. Enthusiasts try to buy two pairs of the same sneakers, and when the value goes up, they make up for the money spent for the first one while still maintaining a collection.
Initially, it was a passion project that led people to scale their collections in a valid method where collectors could gain both emotionally and monetarily. But, over the last decade, newcomers into the game have realised the economic benefit from the hiking resale value, and it has, hence gone beyond the passion for sneakers. This resulted in a shift in the sneaker culture that focused on the love of sneakers, the love of the background stories, connecting with people and forming a community.
How to Differentiate Between Authentic and Fake Sneakers
Always verify real and fake sneakers by checking details like stitching and font. Besides, the materials used to make the sneakers, the craftsmanship, and the attention to detail are what sets apart the real ones from their fake counterparts.
The counterfeit sneaker industry has gone as close as getting the materials right, but the quality, the stitching, the details and, in turn, the whole product is usually of inferior quality. The difference can also be seen in the tags of the sneakers, the fonts and the box labels. So, when in doubt, get it checked by a trusted vendor. It is also recommended to buy rare sneakers from trusted online and offline stores that guarantee authenticity.
Meanwhile, you may also check with the elders in your family for their old sneakers, as there are chances that these may come back in style with a high resale value.
How to Maintain Your Sneaker Collections
Here are some expert tips on how to maintain rare sneakers to protect them and their resale value:
- Store the sneakers in a dark area to avoid exposure to intense lights, which may cause a colour change, resulting in its devaluation. Besides, a shoe tree is one of the best ways to store sneakers as it helps avoid creases and remove moisture and odour from them.
- Connect with other sneaker enthusiasts and the community to understand the culture, new collections and care tips.
- Contact the vendors and keep in touch with them for any queries.
- To properly care for your sneakers in use, handle them with care and wash the insoles thoroughly, and get to know the shoe before cleaning it. Moreover, use the right kind of conditioner and cleaning materials to restore its quality.
