Page 122 - Ocean Blue World Winter 2019 Edition

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Sneaker Savants

By Kristofer Penseyres

neakerheads, primarily teenagers through young adults, are investing in an
unregulated system of sneaker flipping – that is new, in their original box,
authenticated shoes, not somebody’s throwaways - and they are cashing in. In 2017,
Sthe total global sneaker market was valued at approximately 62.5 billion U.S. dollars
and was forecast to reach 97.8 billion U.S. dollars by 2024 according to Statista. Cowen & Co.
estimates that the sneaker resale market could be worth six billion dollars globally by 2025.

A 1972 Nike Waffle Shoe sold for $ 475,500 U.S. at Sotheby’s in 2019. Kanye West's all-red
final design under the Nike umbrella can be purchased from consignment stores for between
$6,500 and $9,000 U.S. These are extremes, but sneaker experts say a profit of about 80 to 100
U.S. dollars per pair is considered a good starting profit.

Photos Courtesy Of: Dia Dipasupil/Getty Images, Nike, Philip Castleton

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